Planning Your Business Exit Strategy With Mike Malatesta & Richard Canfield

Join Richard Canfield and Mike Malatesta as they discuss tips and tools for handling unexpected events in your entrepreneurial journey. Learn about the importance of having an exit strategy and being proactive in your approach to challenges. Episode 7 In this episode of Innovate and Overcome, we sit down with Mike Malatesta, a seasoned entrepreneur with over 30 years of experience. From starting businesses around a kitchen table to generating over $500 million in revenue, Mike shares his incredible journey of building and selling two successful companies in the waste recycling and disposal industry. Learn how he and his partner Butch began their venture with a single piece of equipment and grew it into a powerhouse that sold for over $180 million. Mike delves into the highs and lows of entrepreneurship, including the devastating loss of his business partner and best friend, Butch. He talks about the challenges of picking up the pieces and moving forward while maintaining the business and supporting employees during tough times. Mike’s story is a testament to resilience and the power of partnerships in business. Throughout the conversation, Mike emphasizes the importance of proper planning and the role of insurance in safeguarding a business. He explains how having a well-structured insurance program provided peace of mind and financial stability during the most challenging periods. Mike also shares insights into quantifying human potential and the value of coaching in navigating business crises. You will gain actionable advice on planning for an exit strategy, the significance of having a proactive approach, and the key tools and practices that can help entrepreneurs stay prepared for unexpected events. Mike’s experience highlights the need for visionary thinking and the importance of building a supportive network. If you're interested in getting unstuck, taking back your power, achieving your life objectives and creating the future you want. You can reach out to Mike here: https://www.mikemalatesta.com Join us for this compelling episode as Mike Malatesta shares invaluable lessons from his entrepreneurial journey and offers practical advice for current and aspiring business owners. Tune in to Innovate and Overcome and get inspired to build, grow, and secure your business future. #richardcanfield #innovateandovercome 00:00 - Intro 07:26 - Mike becomes the youngest district manger of the company he was working for at the age 24 18:49 - Tragedy strikes Mike's business partner Butch 28:52 - Importance of planning for the worse 40:39 - Dan Sullivan helps change Mike's life with 5 simple words   Unlock your potential get our FREE GUIDE HERE: https://coachcanfield.com/ Get my Bestselling Book and Start incredible Family Banking Conversations today: https://dontspreadwealth.com/  Learn how to implement The Infinite Banking Concept with this free Webinar now: https://learnibc.com/  Get a FREE Copy of my Second book and learn how to grow CASH VALUE you can control over a lifetime: https://coachcanfield.com/cashfollows