WhenMike Fata stepped on stage at ASW26, he didn’t start with growth hacks or revenue charts. He started with a question:
- Who here wants to become a better version of themselves?
- Who wants to make their business better than it is right now?
- And who wants to become ultimately unstoppable?
What followed was a personal and practical story. It was about change, patience, leadership, and creating real value over time.
From Rock Bottom to a New Beginning
Mike grew up with a single mom and very limited resources. Health and nutrition weren’t priorities in his household. Like many families trying to get by, meals consisted of inexpensive, highly processed food. Fast food was convenient and constant.
By the time he was young, Mike weighed 300 pounds. He was miserable, unhealthy, bullied, and lost. School wasn’t a fit, and eventually, he dropped out.
The turning point came from his older brother. He had started working out and made a simple offer: "Whenyou’reready,I’lltake you to the gym."
One day, Mike said yes.
That first workout was brutal. With no weight on the bar, he struggled to push it, overwhelmed and emotional. But that moment taught him something that would shape the rest of his life: small, incremental improvements compound into massive change over time. With hard work, learning about nutrition, and building healthier habits, Mike lost 100 pounds. He also gained a new perspective.
Discovering Hemp and a Market That Didn’t Exist (Yet)
During his health journey, Mike began reading extensively about nutrition. One book, Fats That Heal, Fats That Kill by Dr. Udo Erasmus, changed everything. At a time when “no-fat” diets were popular, the book showed that fat is important for health. It also pointed out that hemp is one of the best sources of essential fatty acids.
That discovery stuck. Hemp wasn’t just interesting, it felt like the future.
Mike eventually met Martin and Alex, who were actively lobbying the Canadian government to legalize hemp. At the time, people misunderstood hemp and effectively banned it for decades due to its association with marijuana. But change was coming. Together, they founded Manitoba Harvest, starting with a single farmer growing less than 100 acres of hemp.
There was no market. No demand. No playbook. But Mike believed that if he could transform himself, he could apply the same principles to business.
Building a Business One Step at a Time
Starting a hemp food company in 1998 was not easy. His first product run was 200 bottles of hemp oil. He took them to a local health food store across the street from his mom’s house. The owner said no - twice. On the third visit, he agreed to take three bottles.
Mike ran home, wrote an invoice for $22.50, delivered the bottles, and immediately called his gym friends, asking them to buy the product. That was just the beginning.
The lesson? Markets can be created -one customer at a time.
Scaling Through Focus, Patience, and Governance
Manitoba Harvest grew steadily:
- From one farmer to over 100
- From under 100 acres to 75,000 acres of hemp
- From a single oil press to two facilities totaling 80,000 square feet
- To 250 team members and world-class food safety certifications
But growth didn’t happen overnight. It took:
- Five years to reach $1 million in revenue
- Ten years to reach $10 million
- Eleven years to become profitable
The real inflection point came when Mike realized that entrepreneurship alone wasn’t enough. Governance became the game. That meant:
- Annual strategic plans tied to real budgets
- Quarterly strategy reviews
- Monthly financial reviews
- Weekly all-hands meetings to ensure clarity and alignment
Mike emphasized that understanding financials isn’t optional. No matter your role, if you want to succeed in business, you must know the numbers.
Mentorship as a Growth Multiplier
Mike credits mentorship as a critical factor in scaling sustainably. He outlined three forms every business leader should leverage:
- Traditional mentorship – Learning from someone who has done it before
- Peer-to-peer mentorship – Connecting regularly with people at a similar stage
- Mass mentorship – Learning intentionally through books, podcasts, and content (not doom scrolling)
Success, he reminded the audience, often looks like an “overnight win” only after 20 years of consistent effort.
Creating and Unlocking Enterprise Value
Manitoba Harvest grew into a $100 million business. It was sold several times, including a $132 million deal and a later $419 million sale.
Mike stressed that enterprise value isn’t just profitability. It’s:
- Customer loyalty
- Repeat purchases and subscriptions
- Brand trust
- Strategic importance to a buyer
One of his companies sold for $125 million while still losing money - because the future value mattered more than short-term profit. Even if you never plan to sell, Mike recommends viewing your business through a buyer’s lens during strategic planning.
Building Community and Giving Back
Mike turned to LinkedIn, not to promote wins; but to share struggles, lessons, and growth. That vulnerability resonated. A community formed.
From there, he:
- Written a book
- Launched a podcast and newsletter
- Created a free mass mentorship platform with real business tools
Today, he invests in and advises brands that help millions of people improve their health. For him, it’s “selfishly selfless” - helping others feels good.
Want to hear insights like this and more? Affiliate Summit East 2026 is BACK in NYC July 27 – 28... Register your space here today!
