"Together Talks" feature # 36: Mike Fata presented by KLS

Some Background on Mike Fata

For today's edition of "Together Talks" campaign, KLS had the privilege to interview Mike Fata. His entrepreneurship journey began with one simple decision: to get healthy.

It was a simple decision to make, because he was 300 pounds and struggling to find the energy to work and to see my own future.

That’s how he ended up co-founding Manitoba Harvest Hemp Foods in 1998, and beginning the journey to dedicate over 25 years of his life to studying and practicing natural health.

After serving as Chairman of the Board and CEO until 2016, he helped guide the 9-figure strategic sale of the company to Tilray in 2019.

Since then, his life’s purpose is celebrating and supporting sustainable, health-giving, and kind business ventures as an entrepreneur, board member, advisor, and mentor.

Currently, he is Chief Executive Officer of Fata & Associates, a best selling author, a keynote speaker, host of Founder to Mentor podcast, 9 Figure Growth Coach, Global Growth Advisor of Mid-Day Squares, Chairman of the Board of Nuts for Cheese, Lifetime member (Past Chairman) of the Canadian Health Food Association (CHFA), Lifetime member (Past Chairman) of Young Presidents Organization (YPO Manitoba) and investor/advisor to a portfolio of companies.

The Sale

The company Mike founded was first sold in 2015 to a private equity firm. Then in 2019 he oversaw the full sale. He told us it was hard to sell, but it was a long time coming. Mike always knew there would be an end. There were positive aspects, but what isn't often shared or made common knowledge is the reality of a sale and what accompanies that, a grieving process. That part of life, that ability to show up and lead the team or have any integral part in the business is gone instantly, it dies overnight. Withing 2 months of completing the sale, Mike got divorced and then lost his mother. He referred to this period in his life as "the triple grieving process". Mike compared the sale and owning the company to parenting more than business. That connection he had created over 20 years. We asked if it was hard to walk away from his creation, but his answer depicted what makes him such a great leader, "The company was a much bigger than just my decision to sell. I had to put the interests of everyone on the table and make the best decision for the company. 2019 was the peak of the market and provided us the best move."

Writing a book

We asked Mike what led him to writing his book, "It was on my to do list for over a decade. I was aware that my life path was unique and unconventional. I didn't grow up with rich parents, didn't go to university, I found entrepreneurship and pioneered a new industry (hemp) and created the level of success I and my company had. I wanted to share my story for others like me to have the visibility that it is possible." He told us he finally came to a place mentally where he felt he had the capacity to start the book. But he credits his "aha" moment to help others. There was only so much 1 on 1 mentorship he was able to do. by writing the book he could share his story, expand his reach, and help educate people.

One of the things he told us he learned is he was a born entrepreneur but a learned CEO. When he took on the challenge of writing his book he knew he wanted to apply that process to it. He began by educating himself on the publishing model as he knew self-publishing was his desired path. After hiring a self-publishing agency that assigned a writer to work with Mike they put together a full timeline and gameplan that essentially covered 16-17 months. The book began shipping out March of this year.

We were curious what advice Mike would give to someone who wants to write a book? Here is what he shared with us as he feels he now has the knowledge to mentor on the book process.

• Why do you want to write it?
• Future schedule - have to be clear where you will be in the future because it is a 18-24 month timeline
• Right fit to have synergy (His example: "Anyone that interacted with my brand knows my growth story...losing over 100 pounds, dropping out of high school, starting a new industry and business, growing it to 100M company. My story is authentic to me.)
• Writing is only half the battle. After must not only promote it, but also market it
• Bring a good process to it. Being prepared and applying the process allows it to be a good quality product.

You can find Mike's Book here.

Coaching

Mike's passion for helping has translated to one of his roles of coaching and mentoring individuals 1 on 1. One reason for his success in this arena is he deems it, energy-giving. He told us he is at the point in his life where he doesn't give time to anything that drains energy. He enjoys the time he spends and said the benefit for him is watching the development and ultimately the success.

We asked Mike what is the most fulfilling part of coaching, "I enjoy the growth, finding individuals and seeing the positive impact I help create is hugely satisfying. I consider myself a strategist at heart, being able to devise a plan and conquer a challenge."

To work directly with Mike, visit here.

Newsletter

During writing the book, Mike took another opportunity to expand his reach, the first way he did this was with the newsletter he created. Read his newsletter The Unstoppable Entrepreneur for inspiration and actionable advice to become unstoppable: www.mikefata.ca/newsletter

He informed us that he had very little of a social media presence until the pandemic. During that period he jumped on LinkedIn (profile here), and started to connect with friends in the community. Immediately started sharing not only stories but also lessons. Little by little some traction started to develop and the following grew. As the book got closer to being completed he started the newsletter. Instantly it was a success. To him the book was long form, sharing on LinkedIn is short form, and the newsletter is medium form. Always under a 5 minute read and usually less than 750 words. Impactful providing different thoughts on not only business but also building business. He told us it was the fastest thing he ever built, within 10 editions he hit 10K subscribers.

We were curious how he continuously finds content. Mike shared with us, "I'm using this platform to document my personal journey. my learnings on how to make friends first, do business second; how to find the right mentor; how to structure a board of directors or advisory board; ageism." Again his goal to give back and help by sharing his story, sharing the things he has lived and experienced to the masses for reference. Being able to provide his journey by displaying his authenticity.

Podcast

Listen to his Founder to Mentor podcast, where Mike connects with world class founder mentors to inspire your personal and professional growth:

Apple: https://podcasts.apple.com/ca/podcast/founder-to-mentor/id1609277012

Spotify: https://open.spotify.com/show/2dXgA77OJM24d6Eyb2dx1H

Mike told us that the podcast started on clubhouse during the pandemic. He has access to world class founders, especially in the natural space. Having an interest in not only talking to them but hearing their story was the motivation. He realized the value associated with each story and wanted to share them as people will be interested to follow the personal and professional growth. In a little less than a year and a half, the podcast has about 40 episodes.

We wondered how Mike made sure that the podcast was different from his newsletter and he shared with us, "This is conversational, but always try to bring out their story and their brand's story, also the uniqueness and their authenticity."

Mike told us the biggest joy from the podcasts is hearing the inspiring stories and providing the channel for these founders to give back. "It fires me up, healthy examples that I want to bring into my life."

Perspective

Throughout his career, Mike has many accomplishments and success to his name, so we were dying to know, what is next? He confided that is his current dilemma. Starting about 4 years ago he reinvented himself. Mike began creating projects that he wanted to and since their inception, he has focused on continuous improvement for each. Between watching the community, talking with founders, he did share that the juices get flowing every now and then, remember a born entrepreneur. But currently, he is looking to optimize what is currently on his plate.

We asked Mike if he ever envisioned starting a company to selling it to being where he is today and he shared, "I've always had a bigger picture mentality and surrounded by great mentors. I've been able to watch them and tweak it to fit my current situation. My focus isn't on operating a business but instead investing, mentoring, and coaching. I started my company at 21 so I have so much time now to give back. I joke I'm a recovering entrepreneur, I still have the spirit, but don't need to have it now, instead want to help others have it."

We wondered if Mike had one moment that brought him the most joy throughout his two decade plus career, "The look on my Mom's face when the business sold. I hired her and worked with her. She was a single mom who raised her boys. To allow her to look back on the journey and see the success we created, meant so much."

In Closing

We asked Mike if there is a challenge that he'd like to tackle next, he informed us, "Maybe create a new project, I'm really into learning, I love it. So maybe something along a pitch option like a Shark Tank style. Time will tell." KLS wants to thanks Mike Fata for his time in sharing his story and current projects for today's "Together Talks" feature.