Immigrant at One, Founder at 23, Over $100 Million at Exit | Milan Debelak

He sold his company for over $100 million, and he says the day he signed was the first day he knew what he was doing.

If you have ever doubted that you could build something of your own from nothing, this episode is for you. 

Today, Belinda Bradford is joined by Milan Debelak.

Milan co-founded Liftronic in 1985 and led it for 37 years, until it became Australia's largest independent, Australian-owned lift and escalator company and he sold it. Today he invests in businesses and mentors their leaders.

His family landed in Australia in 1963 with almost nothing. At 23 he could have taken a camper van around the country. He started a company from scratch instead, with a secretary, a draftsman and a payphone he had to stay near.

From $10,000 and a tin shed to a $100M+ exit took him 37 years.

In this conversation, Milan shares what happened in between: the day he made 14 people redundant, the supervisor who failed catastrophically and what he did next, the close calls when the company might not last another month, and the advice from his father that kept him going. If they kick you out the door, climb back in the window.

By the end, you will hear why he believes you might jump into the wrong hole, but you have to jump.

His one word for how he does business is morally. His answer to what Full Tilt means: "Whatever we tried to do, we ran at it very hard."

Key takeaways

• If you are 23 and torn between the safe road and a start from scratch, back yourself while you are young and hungry enough to try. Milan says he was naive, and that it was still the right moment.

• If someone on your team fails, find where they fit best. Milan pushed out only the people who would not try.

• If you have to let people go, plan ahead for the day you can hire them back. Milan made 14 people redundant in one day and rehired nearly all of them.

• If you keep waiting for a perfect plan, you will sit on the edge forever. Milan says you might jump into the wrong hole, but you have to jump.

• If success feels slow, remember what it cost. Milan spent 37 years grinding before he knew he knew what he was doing.