In this week’s episode, I chat to Lenny Formato, Co-founder of Empire Metal Trading. A third-generation recycler out of New York, Lenny has lived and breathed this industry from a young age. From riding trucks as a kid to building a business that’s still evolving today.
We cover everything from persistence and patience in deal-making to the power of going “all in” when it really counts. Lenny shares stories that only come from decades in the game, including the deals that took years to land, lessons from starting again in his mid-40s, and why backing yourself matters more than ever.
We also get into the importance of collaboration across the industry, staying involved in trade associations, and how relationships, not just transactions, are what keep this business moving forward.
This one’s full of real, hard-earned insights for operators who are in it for the long game.
In this episode, we talk about:
👉 Building partnerships that last
👉 Going all in on big decisions
👉 Showing up consistently
👉 Playing the long game
👉 The future of scrap
👉 Gut feel vs tech
👉 And much more!
Born Scrappy.
Brought to you by Buddy.
The only all-in-one platform for buying, selling, and managing scrap metal.
Built for scrappies, by scrappies.
https://www.tradebuddy.io/
https://www.linkedin.com/company/tradewithbuddy/
WHO IS STU KAGAN ANYWAYS?
27 years in the metal recycling game and still learning and growing…
I learnt from the best and worked my way up from yard labourer to Executive Director of Trading and Operations for the largest metal recycler in sub-Saharan Africa. Responsible for 4,500 employees, 85 sites, and the overall profitability of a multi-billion dollar operation.
I brought my breadth and depth of knowledge to bear and co-founded the fastest growing, most-loved, and most awarded metal recycling company in New Zealand.
I thought it was time that tech worked for our industry, so I built THE killer scrap app, Buddy - built for scrappies, by scrappies.
Father of two crazy-awesome boys. Husband to Lisa. Kids rugby coach. YPO member. Founder. Lifelong learner. Mentee. Mentor. Committed Stoic. Aspiring cowboy.
COME SAY HI ON LINKEDIN
https://www.linkedin.com/in/stukagan/
