042 - From Founder to Mentor with Mike Fata of Manitoba Harvest

Feeling constantly sick, tired, and weighing 300 pounds at 18 years old, Michael Fata embarked on a pursuit of health, which, after much experimentation, led him to the discovery of the benefits of hemp.Hemp, though often confused with marijuana, has no mind-altering properties and is a great source of essential fatty acids. When Michael founded his company, Manitoba Harvest, not only did he have zero high school or college education, but he was also faced with the challenges of hemp being a product with a brand-new supply chain, laden with numerous regulatory challenges. However, Michael’s passion for his products, his sound business ethics, and his decision to focus solely on hemp culminated in a hugely successful business. In today’s episode, you’ll hear about the learnings Michael had along his journey with Manitoba Harvest, some key insights from the experience he has had as an investor since he sold his company, and the various other ways he is helping entrepreneurs to succeed in the business world.Key Points From This Episode: The motivation that sparked Michael’s health journey. How Michael became interested in hemp. Examples of some of the major learnings Michael had when he entered the world of business. Confusion relating to hemp and marijuana that made things challenging for ManitobaHarvest when it was starting out. The goals of the Canadian Hemp Trade Association that Michael founded. Why Manitoba Harvest chose to focus solely on hemp. Michael’s concern with entrepreneurs who put a lot of emphasis on selling their businesses from the beginning. Advice that Michael gives to entrepreneurs from an investor standpoint. How Michael and his partner are helping other entrepreneurs to succeed in the business world. Why Michael is a fan of social audio platforms like Clubhouse. How Michael maintains his commitment to his own health and wellbeing. The stage of a business’s lifecycle when Michael likes to invest, and why. Tweetables:“I always took the high road and built the brand known for the best quality and a great company to do business with, and that’s how we really outcompeted all the competitors.” — Michael Fata [0:12:29]“Our mission was to become the experts in hemp, right from the genetics and the farming operation all the way through to the consumer.” — Michael Fata [0:13:27] “If you grow a good business and become a leader in your space, and you get to the right scale, you’ll likely have a good opportunity to sell the business. If you overly focus on selling the business it could create the wrong culture and lead to failure.” — Michael Fata [0:14:59]“I feel grateful that I found my health when I was 18,19 years old, so I too want to make this world a healthier place and I want to help founders make sure that their vision and mission is realized.” — Michael Fata [0:38:16]Links Mentioned in Today’s Episode:Mike Fata on LinkedInMike Fata on ClubhouseManitoba HarvestFata & Fleishmann MentorshipFats That Heal, Fats That KillThe Promise of SleepSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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