Get Unstuck by Getting Selfish AND Guiding Entrepreneurs with Mike Malatesta

damottaleonardweb
Dec 9, 2021
3 min read

Updated: Dec 16, 2021

Today on The Prosperity Perspective Podcast, we are joined by one of the most successful entrepreneurs that we’ve had on the show. Guest Mike Malatesta co-founded, flourished, and then safely exited two major businesses. He’s also a podcaster, published author, and still has enough time to focus on his family every week.

Learn with host Liam Leonard how getting fired set a pivotal path toward occupational success, the percentage by percentage lineup of how Mike invests in his assets, and the give-back of involving yourself in the newest generation of entrepreneurs.

3 Key Takeaways:

Why you need to be looking for those “blind spot shifts” in your business
Why Mike encourages all entrepreneurs to go big with it
Why you may need to get selfish to get unstuck

Show Notes:

[0:30] Mike introduces how he became an entrepreneur at age 26

Wanting to make a living with trucks when he was four
Getting into the waste industry
- Teaming up with a friend and creating a 20-years successful company
Starting a second business
- Selling after three years

[3:25] Taking the opportunity to get into the waste business after getting fired

Figuring out how to clean water for others
Choosing to focus on the future instead of holding anger at being fired

[7:20] Where Mike started putting their capital

100% all in on the business for the first 12 years
Engineering recapitalizations for their company
- “What we have in this business is majority, but if it’s everything, we don’t want to be in that situation.” -Mike Malatesta

[9:09] Jim Cramer as a his way to get his foot in the water

Finding a fund in Milwaukee

[11:00] Would having advisor advice have changed things for Mike?

Be careful not to compromise the number one asset
Invest in yourself

[13:00] Balancing the growth of his asset with a growing family

His wife believed in what he was doing
“I know now that the most important thing I can do as a leader is do what’s needed for the business and nothing else.” -Mike Malatesta

[17:00] The process of identifying what he has the most value in and removing the other things

The tragic death of his partner as a major influencer for change
The Strategic Coach Entrepreneurial program
- Own your future
“I had to get selfish to get unstuck. I needed to think about what I actually wanted my future to be.” -Mike Malatesta
Giving his team the tools to do what they already could do

[21:38] Owner shift Mentality

Along the journey, shifts will be required
- Watch for those “blind spot shifts”

[22:48] Mike’s structure for allocating his funds and building his portfolio today after successfully exiting two companies

Number one is me: what can I get into that is largely influenced by me?
80% of what he has is in solid income-generating securities and assets
- homes and stocks
20% for “alternative investments”
- Backing entrepreneurs and have a hand in creating the next successful generation of entrepreneurs
- “My mission is to have a hand in creating the next successful generation of entrepreneurs. Because they may just change the world.” -Mike Malatesta

[26:30] Does Mike look at the returns of his 20% differently because he’s invested in it emotionally

“I really don’t think about it much because I’m usually agreeing with or following someone else.” -Mike Malatesta
A few successful investments in the future will take care of all the rest of them

[29:00] Mike’s suggestion for those looking to invest in non-funded opportunities

Look them up on ACG
Call them/connect on LinkedIn and do your research!

[31:20] Mike’s last bit of advice for the audience

Becoming an entrepreneur is a big and great decision if you have the stomach for it
“I encourage all entrepreneurs to go big. Even if you want to start small. Because your impact can be magnified.”
“Going big is easier than staying small.” -Mike Malatesta

About Mike Malatesta:

Mike is an entrepreneur who has helped start, grow, and sell two amazingly successful waste management companies. One sold for mid-8 figures and the other sold for low-9 figures.

Sensing his skills had greater purpose, Mike decided to also help entrepreneurs get unstuck, take back their power, achieve their business & personal objectives, and create the futures they want through his coaching program.