February 13, 2024 • 55 mins
Have you ever wondered what it takes to turn scraps into a successful empire while navigating personal and industry challenges? Join me, Darren Mass, as I embark on a revealing hike through Wachung Reservation with Jeremy Royzen, a mastermind in precious metals recycling. This episode peels back the curtain on the raw, sometimes treacherous journey of entrepreneurship, inviting you to witness firsthand how discipline, diversification, and a commitment to environmental sustainability can forge not just a company, but a legacy.
Strap on your hiking boots and prepare to traverse the peaks and valleys of business growth with fascinating stories of our past experiences and the unforeseen paths of personal growth. We discuss the pivotal role of trust in business partnerships, the environmental considerations of electric vehicles, and the strategies that protect against the undercurrent of theft in high-stakes industries. Jeremy's candid revelations offer a perspective that's as precious as the metals he recycles – invaluable insights that could change the way you think about success and sustainability.
As the journey winds down, reflections turn to the media's influence on mental health and the elusive chase for purpose in our lives. Michael Crotty, former heavyweight at Paramount Global Premium Group, joins the conversation to share his transformative experiences stepping off the beaten path. This episode isn't just about climbing to new heights in business; it's about recalibrating your focus, realigning with your goals, and maybe even redefining what a midlife opportunity looks like for you.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
All right, jeremy Royzen, are you okay with being
recorded on a podcast?
Yes, there goes that liability.
This is I Took a Hike.
I'm your host, darren Mass,founder of Business Therapy
Group and Parktime WildernessPhilosopher.
Here we step out of theboardrooms and home offices and
into the great outdoors wherethe hustle of entrepreneurship
meets the rustle of nature.
In this episode we hear thesounds of a brisk morning trek
(00:25):
with Jeremy Royzen, atrailblazing entrepreneur and
the owner of a precious metalsrecycling company.
Our topics sparked theinspiration of hustle and drive,
never settling forcomfortability, rising to the
top of your industry and thechallenges of midlife
reflections.
This hike was filled with thesights, sounds and autumn sense
(00:46):
in the northeast.
There were undoubtedly someobstacles to overcome when I
took a hike with Jeremy Royzen.
This episode is sponsored byDeFi Supplements.
Are you feeling stuck in a rut?
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(01:07):
Well, you need to recalibrate,my friend, and get your energy
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(01:28):
So welcome to WachungReservation.
Thank you, we're going to havefun.
It's a nice, cool day Autumn,yes, beautiful leaves, breathe
that awesome air.
Listen to the sounds.
It did rain a lot, so we aregoing to be experiencing
probably some heavier streamsthan normal.
I promise, if you get carriedaway, I'll try to save you.
(01:49):
Heavier what?
Speaker 2 (01:50):
Streams.
What's that Like a river?
Oh, streams, streams.
I thought you said screams, oh.
Speaker 1 (01:58):
What kind of screams?
Well, I'll see you hike Never.
Speaker 2 (02:01):
This is my first hike ever, ever, ever.
Speaker 1 (02:03):
This is great.
Okay, fun, fun.
You're going to experiencesomething that you've never seen
before you do know that I don'tlike the wilderness or nature.
Speaker 2 (02:14):
I'm a city boy and when I moved to Jersey I asked
if I can pave my whole frontyard and they laughed at me.
Speaker 1 (02:22):
So, jeremy, who are you and why do we care about you
?
Speaker 2 (02:26):
I am a first generation American.
My family came from Ukraine inthe 70s.
They're part of like the firstwave of immigrants to come.
During that time my mom and dadmet in Brooklyn, brighton Beach
, got married, had myself, mysister.
My dad was in a gold buyingbusiness in New York for 30
(02:49):
years.
My mother has a ballet schoolin Brooklyn for 30 years.
She still has one.
Speaker 1 (02:55):
Wow, did she ever try to teach you ballet?
Speaker 2 (02:57):
Yeah, so she actually forced me to do ballet till I
was about 10.
Speaker 1 (03:02):
All right, so forced, yes, so this is not your thing.
Speaker 2 (03:06):
No.
Speaker 1 (03:08):
You're not a flingaltoast.
Speaker 2 (03:10):
I don't like dancing, you don't like dancing.
So when I was around 12, I wentto military school and I was in
military school for junior highschool.
Speaker 1 (03:21):
Elective, or were you just that kid that needed to be
forced into a different path?
Speaker 2 (03:28):
Let's just say I didn't last very long in schools
when I was a kid and I needed alittle more discipline and I
didn't listen to authority.
I wouldn't say I wasdisrespectful, I just was very
kind of carefree.
Speaker 1 (03:44):
So did you look at military schools?
If it was a punishment?
Speaker 2 (03:48):
It was.
I mean, you know you'reessentially put in what could be
considered prison for kids,right?
You don't have any free time,you sit on a, you live on a
schedule.
You can't go home.
You go from being a child tobeing a person with no identity
(04:09):
or saying what you can do inyour own life.
So did you?
Speaker 1 (04:14):
find that you harbored the fact that it was a
punishment and maybe yourparents didn't love you.
Speaker 2 (04:22):
No, I understood why I was there, but it doesn't mean
that I wanted to be there.
Speaker 1 (04:30):
Got it, but you got through it.
I did so.
Did you find any good aspectsat all of being a military
school?
Either discipline oreducational value.
Speaker 2 (04:41):
You know what I think ?
That the discipline of themilitary teaches people how to
structure themselves and it alsohelped me in business, where
you know you can structure yourbusiness with the same like
mindsets of the military.
You know everything follows thechain of command.
(05:02):
People don't interfere in thatchain of command.
That's why I never micromanagemy managers or partners, because
I feel like if you're inbusiness with somebody you need
to trust them.
Speaker 1 (05:16):
So let's fast forward a little bit professionally.
So what do you do?
Speaker 2 (05:20):
So my dad was in the gold buying business.
What about the easy route?
Speaker 1 (05:25):
I didn't say this was an easy hike.
I said it was a moderate hike.
Come on.
Speaker 2 (05:33):
Not a good day for asthma today.
Oh, you also have asthmaDeveloped asthma from my
business.
Speaker 1 (05:38):
From your business.
Yeah, okay, then I feel likewe're going to hear this story.
Speaker 2 (05:42):
Yeah, I was in college at the time and I had a
small mortgage company inBrooklyn.
It wasn't really doing too wellbecause during that time this
was when everybody was doing thetalking and walking.
For me right now, as an NG.
Speaker 1 (06:01):
Oh, that's the fun of this whole experience.
Speaker 2 (06:05):
There was a big mortgage boom in late 90s, early
2000s because of the, I guess,the deregulation of banks at the
time, which led to thefinancial crisis.
During that time there was alot of shady things going on in
(06:25):
the mortgage industry.
I was not willing toparticipate in that.
Speaker 1 (06:28):
Such as underwriting mortgages for people who had
extremely low credits worthinessor inability to even afford the
home.
Speaker 2 (06:36):
And you knew in conversation that they couldn't
afford the stuff.
Speaker 1 (06:38):
So a lot of brokers would write them.
Speaker 2 (06:40):
Thank you, roman, so my business wasn't doing too
well because of that.
Speaker 1 (06:45):
Well, that's also part of the reason for 2008's
crisis, right.
Speaker 2 (06:50):
And eventually my dad told me that there's precious
metals in catalytic converters.
Now, when people hear catalyticconverters today, they're like
you're a crook, you feed, yousteal, because they
automatically associate thatbusiness with criminality
because of all the news andthings like that.
Speaker 1 (07:11):
Yeah, I hear about the catalytic converters being
stolen from cars all the time.
Right, right, it's rampant inour towns and our cities these
days.
Speaker 2 (07:21):
Yeah, Well, that's due to the rise in precious
metals because of demand formore catalyst in converters.
They need more catalyticconverters in the world because
they were pumping out so manycars that there was a big
deficit.
So there's precious metal.
What type of metals?
(07:42):
Platinum, palladium and rhodium.
Speaker 1 (07:44):
Oh, very expensive precious metals and those are in
catalytic converters.
What's the purpose of havingthe metals in there?
Speaker 2 (07:50):
So it reduces the CO2 .
The metals do yes.
So you need all three metals tocreate this chemical reaction
that reduces CO2.
And catalytic converters areused in all industries that
produce carbon, so in cars.
They're a smaller version ofwhat an oil refinery would use
(08:13):
or anything.
So catalytic converters areused in every aspect of life,
and for consumers it's in cars.
Speaker 1 (08:23):
OK, so these are only combustion cars.
Electric cars do not havecatalytic converters.
Speaker 2 (08:27):
No, but what people fail to realize is that an
average car produces maybe fivemetric tons of carbon a year.
Speaker 1 (08:36):
OK, that's a lot, it's a lot.
That's a lot for a single car.
Yeah.
Speaker 2 (08:40):
But mining for these rare earth metals has a larger
impact on the world than everycar.
Speaker 1 (08:47):
Yeah.
Speaker 2 (08:48):
I mean, look, it's one of those things where I
don't like nature, but I'd liketo preserve it.
Speaker 1 (08:57):
These are the kind of prerequisites for I took a hike
, kind of have to like nature alittle bit.
So how much metal is in acatalytic converter?
Speaker 2 (09:07):
Meaning like can I?
Speaker 1 (09:08):
take my catalytic converter, crack it open and see
a bar of metal in there.
Speaker 2 (09:11):
It's very small amounts and it's flaked on, so
it's a volume business.
So if someone busted it open,you wouldn't see it.
No, ok, no.
And the misconception also isthat our industry is full of
criminals and mafia, but thetruth is the business is run by
mostly corporations and familypeople and you have some bad
(09:35):
actors that have done some badthings over the years.
Speaker 1 (09:39):
Well, you have bad actors in every single industry,
no matter what right?
Speaker 2 (09:42):
It's the same like in the medical industry, where
doctors prescribe things yeah,or get kickbacks, or get
kickbacks.
Speaker 1 (09:49):
Politicians, every single industry.
There's always a bad human, soyou've built this company based
on precious metals.
Speaker 2 (09:58):
So I started.
How I started in the converterbusiness was my dad told me the
idea.
I got in my car at the end ofwhen I was in school, while I
had my mortgage company.
I was in school full time and Igot in my car, drove around
repair shops on a Fridaydumpster dived into some repair
(10:20):
shops.
Dumpsters picked out thesecatalytic converters.
Speaker 1 (10:25):
Seriously, you were dumpster diving to pick out
catalytic converters?
Speaker 2 (10:28):
Yeah, because back then people would throw them out
.
Oh, they didn't know what wasin it.
People didn't care.
They were not as valuable asthey are today.
Got you have to keep in mindthat the value today was not the
value yesterday.
Speaker 1 (10:40):
Because the price of metals has increased over time.
Right.
Speaker 2 (10:43):
When I started, platinum was maybe 800 ounce,
palladium was probably 200 ounceand what is it today?
900, 1300.
And rhodium was also maybe acouple of hundred ounce.
It probably was about unserenalfamilies, the peak.
It's hit 30,000 an ounce.
So I dumpster dive and Irealized that there at the end
(11:05):
of school, I just dumpster diveand made like a grand selling it
back to one of my competitorsand I was like holy shit,
there's a business here.
So I got a pickup truck, drovearound, started picking up more
material and I was just guessingon how to buy.
Some places would give it forfree, some people would make me
pay, I'd lose, I'd make.
(11:27):
But ultimately I startedcataloging everything that I was
buying.
Speaker 1 (11:32):
So you had that natural business brand, you had
the vision and you saw a hugeopportunity.
Speaker 2 (11:37):
You know, I feel like I saw a business, but it wasn't
like this light that went off.
It was more like I just made agrand, let's see if I can make
two, let's see if I can makethree and right, and just keep
pushing.
So it wasn't really like Ididn't understand what I was
onto, because I had noexperience Right today.
(11:59):
If I saw that, I'd be like ohshit, I have a business.
Back then it was more aboutlike how much more can I make?
Speaker 1 (12:06):
Well, so that's what it takes to be a real hustler
and to really grow a business is.
You just have to do it right,you get through it and all of a
sudden you start recognizingpatterns over time.
You start recognizing that, oh,this is why I did that and
that's why I became sosuccessful.
Alright, so let's cross thisstream Again.
If you fall in, I willdefinitely save you.
Speaker 2 (12:28):
Okay.
Speaker 1 (12:30):
You made that look really easy.
I mean that was an easy path,alright, so here we are.
Hey, listener, thanks forhiking along with us.
For more episodes athiketokahikecom or to recommend
an adventurous guest, apply tobe a sponsor or to simply drop
(12:51):
us a line.
Speaker 2 (12:54):
Look about three months in, I'm at a Chinese
store, a local Chineserestaurant.
My friend's parent walks in,sees me all dirty after a day's
work and is like Jeremy,everything's okay, you're good.
I'm like, yeah, everything isgreat.
And she's like there are acouple.
(13:16):
And the wife says to me youjust I've never seen you this
dirty.
I'm like, well, I'm working.
She's like, okay, yeah, great.
And I knew that they werejudging me based on my
appearance of not being in myusual suit and tie and
conforming to what they?
Speaker 1 (13:36):
You weren't prim and proper anymore.
Speaker 2 (13:38):
What they deem as successful.
Meanwhile, that day I probablymade like two and a half, three
grand just picking through, youknow, scrap.
Speaker 1 (13:48):
Not a bad day's work.
Speaker 2 (13:49):
Yeah, so funny thing about that story is about a year
, maybe less than a year later,their son came to work for me.
Speaker 1 (13:59):
It's amazing how full circle life could be Right,
right.
Speaker 2 (14:03):
Yeah, you know, but we we partnered with a company
called BSF, which is a Huge megabrand.
Speaker 1 (14:09):
Right, publicly traded Right.
Speaker 2 (14:11):
Yeah, in chemicals, pharmaceuticals, weapons,
probably everything.
It's a 100 year old Germancompany.
Yep, it's a monster corporation.
They weren't the first partnerI had.
Okay, I started with a companycalled Techomet.
Then I switched to anothercompany 10 years later called
Sabane Stillwater, which isanother publicly traded company,
(14:34):
mining company in South Africa.
Okay, so when the pandemic hit,I switched to BSF.
Speaker 1 (14:40):
Okay, so you work with these big companies.
I'm sure you negotiated greatrates with them.
Speaker 2 (14:45):
Yeah, you negotiate terms.
They usually give you six to 12month terms, and then you just
got to deliver.
Speaker 1 (14:51):
And you've got these big contracts.
So how much by weight?
What's the weight?
Speaker 2 (14:55):
What's the volume of business?
Speaker 1 (14:56):
you're doing.
Speaker 2 (14:57):
I mean at our peak we were doing about 60,000 pounds
of material a month.
Speaker 1 (15:02):
That's a lot that's a lot.
What do you do?
Package it up.
Speaker 2 (15:06):
So what happens is we buy the cans whole, we break it
down, we put it in SuperSax andthen we ship it in SuperSax.
Speaker 1 (15:13):
That's awesome To Germany.
Speaker 2 (15:14):
No, they have locations in the US.
Okay, so they're scattered allover the US.
For security, I won't say wherethey're located.
But I appreciate that whichlocation we ship to.
But essentially there's pointsin the US that you ship to and
they refine the material here.
Speaker 1 (15:32):
Okay, so you have just the raw material, so they
pay you per pound.
Speaker 2 (15:36):
No, so we refine it actually.
Speaker 1 (15:37):
You refine it as well .
Speaker 2 (15:38):
So they refine it for us.
That's their purpose.
They take a couple of percentfor it and then we can choose to
get the metal back or sell itto the OEMs, the car
manufacturers.
So the mining business is oneaspect of these metals getting
back into the market.
But the recycling businessactually has the biggest impact
(16:01):
and the least impact on theenvironment.
So all these big corporationsthat are in the business of
providing car manufacturers withcatalyst have to buy a certain
amount from recycling.
Speaker 1 (16:13):
Got it In order to maintain their certification or
just the goodwill of?
The public To show that they'reactually involved in buying
from recycling, kind of have toput their money where their
mouth is Right.
Okay, so we've got the businesshere.
We've got the why, the purpose.
You're doing very well, Iassume.
Right, so we're selling 60,000pounds of material to a mega
(16:38):
company.
This is real quality material,so you've got a solid business
here.
How long did it take to get tothat level?
20 years, 20 years.
So you went from pickup trucksand dumpster diving, but at what
point during that 20 yearperiod did it turn into a real
business?
Speaker 2 (16:59):
Probably about two years in.
Two years in, that's prettyquick.
Speaker 1 (17:03):
And you were able to hire staff, get an office, do
the things that a business wouldneed.
Speaker 2 (17:07):
I mean I hired staff, got an office warehouse
probably about eight months inand I was still in school at the
time.
Speaker 1 (17:16):
Okay, so you are clearly a little winded.
Is that because of the business?
Speaker 2 (17:22):
So because when I started the business I had
nobody to really teach meanything.
I would cut the material myselfand not wear PPE.
Speaker 1 (17:35):
I did Google it and watch a YouTube video on
Cadillac Converter recycling.
The big machine basically lookslike a guillotine with a point
Correct, Slices in half.
There's powder, lots of powderin it.
And it's flying all over theplace, so you didn't think to
ever wear a mask.
Speaker 2 (17:52):
I was 22 years old.
Speaker 1 (17:54):
There you go.
That's all you had to say.
You were 22.
Speaker 2 (17:55):
I was 22 years old.
Yep, I was on top of the world,like every 22 year old is, not
financially or physically, I wasjust mentally on top of the
world and I would cut theseCadillacs open and inhale all
this material.
Eventually, it scars your lungs.
(18:17):
I imagine, because it's likefine particles, very fine
particles Like a concrete almostRight, okay, and it's
solidified and about two yearsinto the business I developed
asthma from it.
Okay.
Speaker 1 (18:29):
And I imagine you saw a doctor.
Did the doctor tell you cut itout?
Speaker 2 (18:33):
Doctor said cut it out.
I said you don't know whatyou're talking about.
Found another doctor.
Found another doctor.
Speaker 1 (18:40):
Notice a trend from when you were young with school
and authority.
Okay.
Speaker 2 (18:46):
You know, until you finally realize and associate
wearing, you feel sick and don't.
So you know, today my guys wearrespirators and yeah.
Speaker 1 (18:55):
You care about their health Right.
Speaker 2 (18:58):
They don't catch anybody without a respirator.
They're allowed to goimmediately.
Speaker 1 (19:01):
Well, it reminds me of Paul O'Neill.
It's one of the best businessstories that I've ever heard.
When I went to business school,they taught about it.
Paul O'Neill became the CEO ofAlcoa, the aluminum corporation
of America, in the 80s, and atthe time the stock was not doing
too great, and that's why theybrought Paul in.
And Paul's first pressconference, where the investment
(19:25):
community is just sitting therewaiting on baited breath for
how he's going to pumpshareholder value.
The only thing he wanted totalk about was not P&Ls, not
revenue, not new products, newdesign none of that.
All he wanted to talk about wassafety.
He only cared about workersafety, and then his entire
conversation was around we havetoo many accidents, we have too
(19:47):
many mistakes, we have too manypeople dying Right, they're
falling into the furnaces,they're dying of heat exhaustion
, exhaustion Right, it's adangerous business to be in.
So, obviously, what happenednext?
The investment community hatedthat.
The stock tanked.
And well, paul did his thing.
He then made sure that safetyworker safety was the number one
(20:10):
priority.
If there was an incident, itwas reported.
He bought everyone new safetygear.
There was new safety trainings.
Well, in a matter of only a fewyears, it became one of the
most valuable companies ever andthe reason why his message was
more than just safety.
Let's be honest, I'm sure hetruly did care about people and
their safety, but he knew if theCEO cares about your life and
(20:36):
your safety, then you are goingto want to work more efficiently
, better and happier, knowingthat people actually care about
you and at work and they had theworst safety record prior to
Paul after.
I believe I have to check thisas well.
I'll check while you're on thetrail, but I believe they only
had one or two safety incidentsduring his entire tenure.
Speaker 2 (20:59):
That's pretty amazing .
Speaker 1 (21:00):
Yeah, and he was an amazing CEO and it's an amazing
story to tell.
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(21:42):
You are clearly very smart,wise, you understand and you can
foresee that your business isgoing to be challenged.
So what steps are you taking toeither take this current
business future proof it,diversify it or, in essence,
wind it down?
Speaker 2 (21:59):
Yeah.
So I think any business thesmart business owners will
always look forward and try topredict the future.
You might not always be right,but you have to, in one way or
another, try to predict what'shappening six to twelve months
forward.
That's right.
In our case, I'm trying topredict three, four years
(22:23):
forward, or I started doing thatseveral years ago.
Speaker 1 (22:26):
Give me for instance of what you're doing.
Speaker 2 (22:30):
Right now we're in the process of trying to acquire
other junk yard scrap yard sowe can diversify out of just
doing catalytic converters.
Speaker 1 (22:39):
Okay, so one key approach is to diversify
products.
Speaker 2 (22:42):
If you can right, not every industry you can
diversify.
Speaker 1 (22:46):
Well, you can go off into different lines of business
, but from at least my ownexperience in failing, if you
are going to diversify then youhave to be all in it.
You have to be ready todiversify.
You have to be ready and youhave to have milestones when you
do pivot and you have to bewilling to invest in that, like
you invested in your firstbusiness.
Otherwise side business failsRight.
(23:08):
The pivot will always fail,sure.
Speaker 2 (23:12):
I think that business owners need to figure out how
to pivot.
I know everyone uses the termentrepreneur today and it's a
very loose term.
It's incredibly loose at thetime?
I don't think anybody In fact.
Speaker 1 (23:27):
The right term is what Mark Cuban said it's
entrepreneur.
Speaker 2 (23:30):
It's a lot.
Speaker 1 (23:30):
Because it's entrepreneur.
There are so many people thathave great ideas and visions but
they don't have the ability topivot from being that idea, that
visionary, that entrepreneur,into being a business owner.
There are major differencesbetween an entrepreneur and a
business owner, Agreed as big asof a difference as a business
(23:51):
owner and a CEO, and they're notused interchangeably Right.
Speaker 2 (23:55):
If you own a deli, you're a business owner yeah,
small business owner.
If you're an entrepreneur, Ithink you're creating things
that are changing society.
I consider myself a businessowner, not an entrepreneur.
Even though I've been involvedin various businesses in my life
, that doesn't make me anentrepreneur.
Speaker 1 (24:15):
I would consider you an entrepreneur based on the
fact that you had a mortgagebusiness.
To me, the entrepreneur is thebusiness thinking, the mentality
you have.
You saw a hole and a void andyou filled it.
You had that vision.
Now you turned into a businessowner with this current company,
because now you're running aphysical business Right, but you
(24:37):
had mentioned before that youalways see ideas, whether it was
trading cards throwing up or amortgage business.
That's entrepreneurial, right.
You're constantly looking forthe next latest grace, right,
Even now when you said with thescrap yards.
That's an entrepreneurialmindset, right, but you still
own a business and that's yourcore focus.
(24:57):
Now, when you sell thisbusiness, then we'll have
another conversation.
Speaker 2 (25:03):
I mean I don't know if I'll ever sell it.
I have two sons, so I don'tknow what the future holds for
them, but maybe it'll besomething they'll want to go
into.
Not necessarily I want them togo into it.
Speaker 1 (25:15):
That was my next question.
Speaker 2 (25:16):
But if they like it and enjoy it, then why not?
Speaker 1 (25:21):
So you do know the risk of having a generational
business, correct?
Speaker 2 (25:25):
Well, most of the time they don't live up to the
standards and it'll go out ofbusiness anyway.
Speaker 1 (25:31):
That's exactly right.
The statistic is pretty highRight, and that's because the
child, the second generation,was born without the same hunger
in their belly, because thefather took care of them.
Right Now, from what I'mhearing of you and I know of you
, I have a feeling you'reprobably not raising your kids
to be spoiled.
Speaker 2 (25:53):
I am, you are, yeah, all right, I'm surprised.
Speaker 1 (25:57):
Look, it's like being wrong.
Speaker 2 (25:58):
You know I'm of the.
They're still young, they'llhave their time to grind.
I let them understand theconcept of money, but you know I
do give them a majority of whatthey want.
Okay, but they're good kids sothey deserve it.
(26:19):
Good, you know, they don'tthrow tantrums.
They don't cry and moan aboutthings.
Speaker 1 (26:27):
They're having three children.
You call them bullshit.
Your kids, don't throw tantrums.
Yeah, no, my kids don't throwtantrums Around you or in
general, in general, you justbecame the most envied or
loathed guest.
Speaker 2 (26:43):
I don't look.
I think it has a lot to do withgenetics.
Maybe my wife and I are bothvery calm people.
Speaker 1 (26:52):
Okay, I gather.
Speaker 2 (26:54):
And you know, because of that maybe something kind of
is innate in them to not throwtantrums.
Speaker 1 (27:01):
So that would explain why my kids are sometimes nuts,
my wife and I are not calm.
We're very energetic people.
We're achievers in that sense.
Yeah, I mean look it's.
Speaker 2 (27:14):
There's nothing wrong with throwing tantrums or
showing emotion.
Maybe it's better in a way,because you release that energy
Right.
You know for my kids they holdit in and disperse it
differently, their frustration.
But maybe that's going to be adownside for them in life.
I don't know.
Speaker 1 (27:33):
Well, time will tell, but one thing I do know is you
never tell someone else how toparent, because you're wrong as
well.
So all right, let's get back tothis business.
You've done a pivot.
Speaker 2 (27:44):
Let's get back to the business.
Speaker 1 (27:45):
Do you see success with this pivot currently, or is
it still a work in progress?
Speaker 2 (27:52):
Nobody knows, right, it's just another excuse me,
just another hustle.
Right, you were pivotingbecause I know the scrap
industry is a good industry.
But whether or not I'll succeed, that time will tell.
It's all based on my execution.
There's no guarantee for mebased on prior history.
Speaker 1 (28:15):
Well, there's no guarantees with anything in life
, right, Except for the factthat you are your own best
investment right.
Your time, your effort, yourhustle makes you the best
investment you'll ever have.
Right.
And if you're not willing toconstantly reinvest and re-up
yourself, then you kind of wantyourself to fail.
Speaker 2 (28:36):
Well, it kind of goes with the saying scared money
doesn't make money.
Speaker 1 (28:40):
Scared money does not make money.
Yes, that is absolutely true.
Speaker 2 (28:43):
You have to invest and you have to take risk.
If you don't take risk, thenyou'll never get anywhere.
And I think there's differentrisk at different points in life
, right?
So if you're 20 years old, youcan take more risk, and then if
you're 30, you'll probably takeless risk because you have
(29:04):
family, you have people thatdepend on you, right.
And then when you're 40, you'llprobably take even less risk.
But then if you're somebodylike Elon or somebody else,
you'll keep taking risks, and Ienvy people like that and I
probably try to live my life alittle closer to that mentality
that I'll always take risk.
Speaker 1 (29:24):
Can I ask do you truly believe that electric is
not the best thing for theplanet, or is it because you run
a business currently thatrequires electric to be
suppressed?
Speaker 2 (29:37):
So I actually drive electric cars, ironically, right
, so I'm like I actually don't.
Speaker 1 (29:45):
You don't practice what you preach?
Well, I do.
No, yeah, because.
Speaker 2 (29:49):
I don't.
I'm not against progress andchange and I'll try anything.
And if I really do believe thatelectric is better for the
planet, I would fully adopt toit and even if it destroys my
business and industry, it's okay.
Progress is part of life andchange is part of life, and if
(30:13):
you stand in the way of progressand change, you get left behind
.
So me driving an electric carbeing in a petrol industry is
not because I hate electric or Iactually like electric, but I
do think that it's worse for theworld.
You actually can't recyclelithium batteries.
(30:36):
You can turn them into otherthings, but you have to continue
mining the earth for the rareearth metals.
Speaker 1 (30:45):
So that is something that is a scary reality of all
of this is that we're all beingsold that electric is better for
the environment.
Right, the mentality and thisis I don't know if this is just
an American mentality or Navite,or the fact that the average
person's IQ isn't enabling themto think beyond but we believe
(31:06):
as a whole that, oh, if I justplug it into my wall, it's
better for the environment.
Right, there's nothing comingout of an exhaust pipe.
It's because you don't see it.
Exactly, we don't see it, so wedon't know what it really takes
to produce that kilowatt.
Right, the largest fuel sourcefor this country still is fossil
fuel.
Right, it's coal.
(31:27):
Right, natural gas has to befracked, right, Hydro power is
great, but we don't have bigdams, except if you're up, let's
say, in Rochester, new York, orin Buffalo or Niagara, right,
right, so we're still burningsomething to make that kilowatt.
Speaker 2 (31:43):
Right, plus mining for lithium and the other rare
earth metals that go intolithium are detrimental to our
planet.
Speaker 1 (31:51):
So is this a complete farce?
Are we being sold to billiards?
Speaker 2 (31:54):
We are essentially Until we find a way to
effectively bring these rareearth metals back into their
rare form and recycle them andput them into new cars, we will
essentially destroy this planetmining for these materials.
Speaker 1 (32:11):
So we're exacerbating the problem by essentially
swatting on a fly with asledgehammer, which is what we
do very well in this country.
Speaker 2 (32:19):
Right, and then you can ask the question again so
why are you driving electric?
Speaker 1 (32:23):
Yeah.
Speaker 2 (32:23):
I drive it because it's fast, it's quiet and I like
the comfort of plugging it athome.
I hate going to the gas station.
Speaker 1 (32:31):
So there you go.
So that makes more sense.
The convenience Would you liketo sit next to the pergola?
Sure, we can have a seat in aromantic pergola.
So that unfolds the reality.
And I don't buy it when peoplesay they're purely driving an
electric car for the environment, because either they are
uneducated, unintelligent orunaware.
Speaker 2 (32:54):
I mean they're essentially listening to what
they're being told.
Speaker 1 (32:58):
Right which falls under the uneducated
unintelligent and unaware itfalls into the three categories.
Now it's looks like asacrificing throne.
Speaker 2 (33:06):
Well, jeremy, like an old Mayan, you know.
Speaker 1 (33:11):
Mayan would require a lot more age here.
In fact, I don't think thatthis country was around during
that.
Speaker 2 (33:17):
Obviously, but just giving the analogy.
Speaker 1 (33:20):
So I do appreciate the fact that you say your
reality.
The reality is, is you'redriving an electric car because
of the convenience?
Factor and that makes sense.
Speaker 2 (33:28):
For a daily driver not hearing an engine and
plugging in when you come home,not having to go to a gas
station is extremely convenient.
Speaker 1 (33:37):
And being able to charge on your time.
So I appreciate that.
I just wish people wouldcompletely stop saying, oh, it's
better for the environment.
Because when I hear people sayit's better for the environment,
I know I can't have anintelligent conversation with
you.
I immediately know that you'renot going to be able to have the
middle conversation.
You're going to pick one sideyou have gone.
(33:59):
How many miles do you thinkyou've went?
Speaker 2 (34:02):
I can tell you oh, that's cheating 1.8.
I got 1.9.
Speaker 1 (34:08):
Well, that's because you got double steps A little
shorter than me, so your legshave to move more.
That's my style.
Speaker 2 (34:15):
So not nice.
I only look shorter.
You're standing higher, you'rewearing heels, I am no.
Speaker 1 (34:22):
Look, we have some debris from some ferns that want
to propagate and you have anettle.
Excuse me, isn't that cool howthat works?
Yeah, shall we, yeah, yes, Iwant to hear about your business
lessons, inspirations, whathave you learned?
Speaker 2 (34:43):
So let's talk about Earlier we talked about trust.
So trust comes and goes in lifeand the biggest people that can
betray you is probably family,and then goes friends, and then
business partners and whatnot.
Speaker 1 (35:00):
Well, the people that can hurt you the most are the
ones that are closest to youlong-standing relationships, so
in our industry a lot of it ison trust.
Speaker 2 (35:11):
So you ship material to a refiner.
You hope that the refiner willpay you, but the refiner also
pays you on delivery in advanceof the material and hopes that
what you're saying is in thereis actually in there before.
It takes them three, fourmonths to process the material
and get a result on it.
(35:31):
So there's a lot of trustinvolved and because of that
trust, when we buy from peoplewe also have to trust the people
we buy from.
And we've advanced people andbeen burned and things like that
.
And it's just the nature ofbusiness where you figure out if
you want to take these type ofrisks or not.
(35:54):
And it's probably a definingmoment for people in business if
they take those risks Becauseit's easier not to take those
risks.
It's easier to hold on to yourmoney and take your 5% or 10%
return on it a year and in a row.
Speaker 1 (36:10):
But that's what kills a business.
The stalemate of just ridingthe hockey stick plateau that's
how you kill a business.
The second you take your footoff the accelerator, that's when
your business starts dying.
Speaker 2 (36:24):
I think every business owner at some point
takes their foot off theaccelerator.
Because you can't be 100.
Regardless of what people showon social media, of all these
business advisors that areteaching Hustle and whatnot and
go 100%.
And I wake up every day 5 AM,oh, that's all bullshit, yeah.
But come to my class and let meteach you.
(36:46):
It doesn't make sense.
Speaker 1 (36:48):
That's how they made their money.
You bought their class.
Speaker 2 (36:50):
Right.
Any business owner that isselling their idea is selling
you bullshit.
Nobody sells their ideas andtheir process for money, because
that's their edge, that's theircompetitive edge.
Speaker 1 (37:06):
That's what's essential.
This has been a recurring themealways.
Right, it was back in the dayit was about flipping houses,
how I made my first millionflipping houses.
Well, you made it because theyjust sold you a $99 course.
So I agree with that.
It frustrates me when I seethose social media posts with
those high energy individuals,because the reality is is
(37:28):
running a business sucks?
Speaker 2 (37:30):
Yeah, it is.
It's tough, it's not fun.
It's constant stress, it'sconstant worry.
It's constant dealing withpolitics, compliance, staffing
managers You're always dealingwith some kind of problem,
putting out some kind of fire.
Everyone is your boss.
Speaker 1 (37:50):
I get frustrated when I hear someone who says I want
to start a business because Iwant to be my own boss.
Well, the reality is is onceyou have that first employee,
that first customer, that firstanything, you work for them.
There's no your own boss.
And if you think that theluxury is you could take a month
off on vacation, sure, butunless you've built a good
business and a good brand andhave great people with metrics
(38:11):
and goals, it's going to gobackwards.
So you're double paying foryour own vacation.
But I know I said, owning abusiness sucks, but it sucks in
the emotional and mental tollthat it takes on you.
There are a lot of perks toowning a business the freedoms
you can buy and the don'ts thatyou don't have to do anymore.
(38:32):
Later on, after you havenurtured the business, grown a
business, watered it, fed itright, that's when you can reap
some of the reward.
But until then it sucks.
Speaker 2 (38:44):
And that's when you can take your foot off the pedal
right.
So we got into this because youmentioned about being on the
accelerator always.
You can take your foot off attimes right and enjoy the fruits
of your labor, and it'simportant to do that.
But it's also important torecognize when you got to step
(39:04):
back in and keep pushing forward.
Speaker 1 (39:08):
That's right.
Well, it also is important toget the right people on the team
, right People in the right seat.
That's attraction term, it'spracticed and I believe in it
heavily right.
It's also important to be ableto delegate, as now a CEO and a
business owner right and that'sthe difference between the
entrepreneur and the visionaryand the business owner and the
(39:31):
CEO is the business owner andCEO has to make those business
decisions to help delegate right.
And I see this all too oftenwith small business owners
they're afraid to hire, they'reafraid to spend some money on
that next in line, because youcan see the money, you can't see
the effort from the individual,you can't see the trust.
Speaker 2 (39:53):
I mean, if you don't invest in your business, you're
not getting anywhere.
No, and if you don't, it's thesame like investing in yourself.
Right, you have to constantlyinvest in your business, in
yourself, to move forward,otherwise you're moving
backwards.
Speaker 1 (40:10):
And that is.
There are lots of businessowners that are listening to
this show, or any other showlike this, where they're
scratching their heads saying,well, why isn't my business
taking off, why isn't mybusiness accelerating?
And that's because you'reliving in that plateau but
you're not doing anything torise above or step on the
accelerator again.
Speaker 2 (40:29):
You know, maybe that's the case, or maybe
they're just in the wrongbusiness, right?
Not every business has to besuccessful.
This is another likemisconception in today's world
is like oh, I'm gonna grow up,I'm going to open up a business
and I'm going to be an instantsuccess.
Not every idea, not everybusiness has success.
Speaker 1 (40:50):
That's very Gen X of you.
By the way, I believe theyounger generations think that
yeah, I started the business.
Why am I not successful?
Or why am I not a crazy famousYouTuber is what they're saying
today.
So I do agree with you that youhave to be willing to put in
the work.
A while back I said that screwthe business plan unless you're
(41:13):
taking on investors.
Just write a loosely definedbusiness plan, because you have
to be willing to pivot if youwant your business to be
successful.
Speaker 2 (41:23):
Well, like I just said, it doesn't even matter if
you do all of that, there'sstill no guarantee.
So it's like what's drivingtoday's world is people that are
solving problems, or reallygood marketing.
Speaker 1 (41:40):
Really good marketing sometimes wins.
Speaker 2 (41:43):
So if you're not solving problem or you're like a
marketing guru, you're probablynot going to succeed unless you
have like a really nichebusiness.
Speaker 1 (41:52):
So what problems are you solving?
Speaker 2 (41:55):
Well, I guess you can say I'm in the recycling
industry, so I'm solving theissue of recycling materials
that have been mined and puttingthem back into the hands of car
manufacturers to create morecatalysts so they don't have to
mine for those metals again.
So that's my problem, that I'msolving for the world on a small
(42:19):
scale and regardless of howglamorous that industry is, it's
an essential industry for ourplanet and for the car industry.
Speaker 1 (42:32):
That's right.
So, on behalf of the world, Ido thank you for doing your part
.
It does make sense.
It makes complete sense, thoughI wish cars would stop getting
stolen for it.
So how speaking of that,because it is a hot topic and
let's talk about that how do youprevent stolen product from
being delivered to you?
Speaker 2 (42:55):
There's a lot of ways that people can prevent that.
The way we do it is we haveattorneys that put in these
protocols for us where we dowhat we call KYC know your
customer.
So we don't buy from the public, we only buy from people that
are in our industry.
(43:16):
So that eliminates a bigmajority of stolen material just
not buying from the public.
People can't just show up andsell to our door.
You have to be a registeredbusiness, you have to be in our
industry to sell to us.
Speaker 1 (43:32):
After that so you're a known, known you have to go
through lots of checks,backwards checks.
Speaker 2 (43:37):
Lots of checks.
So after that they give ustheir tax ID, business licenses,
ids.
We run background checksthrough something called World
Check and if anything comes backit checks them for the whole
world if they did anythingillegal and if it's anything of
question, we say no.
Speaker 1 (43:58):
So just right there, when you said we have to have
their tax ID, I'm going tosurmise that that whittles down
a lot of the street theft,because the guy who's stealing a
catalytic converter is probablynot going to have a tax ID or
be willing to give you hisdriver's license, but that's my
protocol.
Speaker 2 (44:16):
That doesn't mean that the guy 50 miles away from
me is following the sameprotocols.
Speaker 1 (44:23):
So we talk.
There's always bad actors inevery industry, no matter what
it is.
Now, unfortunately, the badactors get the biggest
reputation.
So that's what your industry isknown for is dealing with
pilferage theft.
Speaker 2 (44:37):
Well, it is recently.
It wasn't the case five yearsago.
It's a recent phenomenon andit's also dying out because the
price of precious metals aretanking and the law enforcement
is cracking down on companiesthat are not following the right
protocols.
So I would say catalyst theftis probably down 70, 80%
(45:02):
nationwide.
Speaker 1 (45:03):
I'm going to ask you a tough question.
Speaker 2 (45:05):
Do you think?
Speaker 1 (45:06):
the industry that you helped create created the crime
wave for the theft of catalyticconverters.
Speaker 2 (45:12):
No, I think the media that talks about it constantly
and talks about the values andhow easy it is to steal it
creates a more theft.
Speaker 1 (45:23):
So I agree with you If you suppress the name, you
hide that you don't glorify themor even vilify them.
You essentially make theirstory pointless and irrelevant,
hopefully curb it.
But the challenge that we have,because we still like to hunt
witches right, the media won'tlet that happen.
(45:44):
The media sells on fear, chaosright, it keeps you glued to the
TV, it gets the amygdalarunning and essentially hooked
like a drug and the media can'tlive that down.
And we can draw thatcorrelation to everything that
the media does.
And unless we shut off media,which we will not be doing-
there's no way to escape this.
Speaker 2 (46:05):
There's no way to escape this.
When we were kids, we wouldturn on the news once a day and
we'd get our 20, 30 minutes ofnews with our parents and we'd
move about our lives.
Speaker 1 (46:17):
I'm shocked you even sat through.
I hate it.
Speaker 2 (46:19):
Washington.
Well, I mean, it was in thebackground.
Today you're getting news everysecond.
Speaker 1 (46:26):
Every second.
Speaker 2 (46:27):
Everywhere you go, you're getting news, and that's
why there's so much depression,anxiety, right?
Because you're constantly beingfed negative information, right
?
So there's no more positivitycoming out of media, but that's
a separate so we could changethat right.
Speaker 1 (46:46):
There are positive programs.
I mean the goal of this, at thehands of always just apples
lost on campus program, is tolead with inspiration,
motivation.
Business tells right To findsome path to a less depressive
environment.
But you know, the honestapproach or the honest reality
is I started this because I wason a path of depression after
watching all of this one-sidednews.
Speaker 2 (47:07):
Right.
I mean you also are.
All of us are coming out of apart in life that we never
thought would happen.
Right With this pandemic,regardless of it being a mild
pandemic right or an overblownpandemic, let's just, let's say
right, a lot of people stilldied and it was still a pandemic
(47:30):
right, no matter.
No matter to what degree it was.
We still live through theshutdowns and, you know not
knowing what the future holds,because that's what the reality
was in the beginning there's alot of anxiety coming out of it.
Speaker 1 (47:43):
We live together in solidarity through the biggest
fear-mongering there has beenever in our century, and our
lives for sure, and it taught ussome valuable lessons, but it
also drove a nail straightthrough the heart of this
country.
All right, so now for the mostpivotal question of the hour do
(48:05):
you feel like you're successful?
Speaker 2 (48:07):
Look, I think you know someone asked me that a
week ago I was at a watch eventand someone said you know you're
successful.
Do you feel successful?
I said everyone has their gaugeof success.
I don't feel successful yet.
Speaker 1 (48:23):
You don't feel successful, yet I do not.
Okay, so let me ask wouldsomeone from the outside or
listening in consider you asuccessful person?
Speaker 2 (48:32):
Yeah, I'm sure, based on society standards.
Speaker 1 (48:35):
yes, Okay, and what is your definition of success?
I don't know what it is.
You don't know what yourdefinition is.
Speaker 2 (48:41):
That's what keeps pushing me forward, because I
haven't found that point where Ifeel that I've peaked.
Speaker 1 (48:50):
Okay.
So are you one of those peoplewhere, if it's your dying
deathbed, you're gonna wonder ifyou were ever happy or if you
had your purpose fulfilled?
Probably.
Speaker 2 (49:02):
Okay, purpose is a very loose term because you know
all of this, every, all theexistence that we have and that
we live in, eventually will begone anyway.
So it doesn't really thatpurpose doesn't really matter.
I guess it's more about whatyou do in the moment and who you
(49:28):
are in the moment, and I guessthat's kind of where I'm at in
life is.
You know, I'm realizing that itdoesn't necessarily matter
what's gonna be of you in 100 or200 years, because you won't be
around and most likely 99% ofwhat of humanity today.
There won't be any remnants ofus in a couple of hundred years
(49:51):
anyway.
Speaker 1 (49:52):
I hate to say it.
I'm fairly certain that host ofpodcasts will not be in the
history books, right, and Idon't think catalytic converter
recycling man will be thereeither.
But we do live at least onegeneration, possibly two, in the
memories of our family and ourchildren, right, right.
So I would say there is purposethere.
Speaker 2 (50:10):
I mean, I can define purpose in that sense right.
Speaker 1 (50:12):
So when do you think you're going to arrive upon your
purpose?
Speaker 2 (50:15):
Maybe I will, maybe I won't.
Does that bother you?
Sometimes it does, sometimes itdoesn't.
It's one of those things whereyou know you kind of have to
accept as you get older.
You know, when you're in your20s and 30s this life is very
different.
Mentally, yes, when you turn 40, you realize that you are
(50:39):
midlife and time is not on yourside anymore.
Speaker 1 (50:43):
Yeah, you don't have a lot.
Speaker 2 (50:44):
Right and now you have to make smarter choices of
how you spend your time.
Speaker 1 (50:51):
So there are a whole bunch of people listening to us
right now there and in the sameexact thought process.
They're in the same boat withthis conversation and they're
wondering what the hell you knowmidlife crisis.
The struggle is real and it'snot about just going out and
buying your Corvette right oryour fancy car to get you out of
the funk.
It is the reality that, yeah,half is gone.
(51:13):
If you're lucky, half is up.
If you're lucky, half is upright, right, and that's a big
kick in the butt.
Speaker 2 (51:20):
People call it a midlife crisis because it's
easier to call it that right,but I don't think it's a midlife
crisis.
I think it's reflection on yourlife and your future.
Speaker 1 (51:34):
Okay, right so it's not a negative thing.
Well, it's used in a negativeconnotation as in a slight to
men, and it is, you know itqualified with the acquisition
of a brand new shiny redCorvette.
Look Sorry to stereotype, Ilove.
Speaker 2 (51:51):
Corvettes.
That's fine, but you know youalso have to consider the fact
that most people prior to thesecrazy years couldn't afford
shiny red cars, sports cars, intheir 20s and 30s.
Most of the time, you can onlystart affording these things in
your 40s and 50s.
So the association with midlifecrisis and that I feel like
(52:15):
it's kind of silly, but you knowthat is the association with
that.
Speaker 1 (52:20):
There's nothing wrong with it.
We could justify it.
Obviously, like you just said,in your 20s and 30s you couldn't
afford that dream car and thenlater on in life you were able
to afford it.
Absolutely, go out and buy thedream car If you absolutely want
to.
I'm just saying that it isactually really healthy when you
get to that midlife point,because if you harness the fact
that you are now reflecting onwhat your life has been, where
(52:44):
it's going, the purpose of it,you could potentially see a
pivot to becoming a betterperson.
And I think, at least formyself, I have seen that.
Speaker 2 (52:51):
Yeah, so it's midlife reflection for you.
Midlife reflection, let'strademark that term.
Speaker 1 (52:56):
This is trademarked by Jeremy and Darren On the I
Took a Hike podcast.
Technically, you signed thewaiver, so it's now mine, but no
, it's the trademark.
Reflection right In midlifecrisis.
It's midlife reflection, rightit's absolutely true.
Speaker 2 (53:09):
For me, purpose getting back to purpose is a
very loose term and I don't know.
For some people, purpose istheir kids, their family and
their business.
That might not be my purpose.
I don't know my purpose.
Speaker 1 (53:25):
I do believe you are successful.
Thank you.
Your conversation aloneinspires me.
It motivates me.
You obviously have a fantasticentrepreneurial mind, an
entrepreneurial spirit.
You've been a great businessowner.
You do have these self-doubt,self-reflection moments, but I
think that's what keeps yougrounded, sure, and probably why
you don't rest.
Speaker 2 (53:45):
Yeah, I mean, like I said, I do give breaks, but I do
keep pushing forward, and Ithink that's important.
Speaker 1 (53:52):
That's an important marker in every successful
business-minded individual.
Speaker 2 (53:57):
Yeah, and I think that the most important thing
for your listeners is for themto understand that, depending on
what point in life they are,they should take the risk
accordingly.
If you're 20, go all in, that'sright.
If you're 30, be a littlesmarter.
If you're 40, think a littlebit more about what you're doing
(54:20):
, because time is not on yourside.
Speaker 1 (54:22):
Well, Jeremy Royzend, I want to thank you for joining
me along this experience.
Speaker 2 (54:27):
I enjoyed our conversation.
Speaker 1 (54:28):
Thank you for having me and I absolutely see a
successful person, whether ornot you believe that.
Speaker 2 (54:34):
Listen, I won't say I'm unsuccessful, I'm just not.
I haven't reached my peak ofsuccess that I deem as
successful.
Speaker 1 (54:44):
Well, I will follow up with you because I want to
know when you're there.
Speaker 2 (54:47):
Yeah, maybe you'll take the journey with me.
We'll come up with a concept.
Speaker 1 (54:51):
That would be really cool and in a way now I'm hoping
you never find it, because ifI'm still searching for that
journey along with you, thatmeans we're living a very long
life, right.
So here's to your health.
Likewise, bro.
Thank you Next time on, I Tooka Hike.
We go off the beaten path onlyto find our way back with former
COO and CFO of Paramount GlobalPremium Group, michael Crotty.
(55:14):
This episode is sponsored byDeFi Supplements.
Are you feeling stuck in a rut?
Do you need more energy for thetrail?
Stuck behind the screen all dayand lacking focus?
Well, you need to recalibrate,my friend, and get your energy
back for the summit.
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formulated to help with energy,focus, mood and longevity.
(55:37):
Visit defiyourmindcom and usecode Hike for 20% off and you
will defy your expectations.
All right, jeremy Royzen, are you okay with being
recorded on a podcast?
Yes, there goes that liability.
This is I Took a Hike.
I'm your host, darren Mass,founder of Business Therapy
Group and Parktime WildernessPhilosopher.
Here we step out of theboardrooms and home offices and
into the great outdoors wherethe hustle of entrepreneurship
meets the rustle of nature.
In this episode we hear thesounds of a brisk morning trek
(00:25):
with Jeremy Royzen, atrailblazing entrepreneur and
the owner of a precious metalsrecycling company.
Our topics sparked theinspiration of hustle and drive,
never settling forcomfortability, rising to the
top of your industry and thechallenges of midlife
reflections.
This hike was filled with thesights, sounds and autumn sense
(00:46):
in the northeast.
There were undoubtedly someobstacles to overcome when I
took a hike with Jeremy Royzen.
This episode is sponsored byDeFi Supplements.
Are you feeling stuck in a rut?
Do you need more energy for thetrail?
Stuck behind the screen all dayand lacking focus?
(01:07):
Well, you need to recalibrate,my friend, and get your energy
back for the summit.
The summit is a premium brainhealth supplement doctor
formulated to help with energy,focus, mood and longevity.
Visit defiyourmindcom and usecode HIK for 20% off and you
will defi your expectations.
(01:28):
So welcome to WachungReservation.
Thank you, we're going to havefun.
It's a nice, cool day Autumn,yes, beautiful leaves, breathe
that awesome air.
Listen to the sounds.
It did rain a lot, so we aregoing to be experiencing
probably some heavier streamsthan normal.
I promise, if you get carriedaway, I'll try to save you.
(01:49):
Heavier what?
Speaker 2 (01:50):
Streams.
What's that Like a river?
Oh, streams, streams.
I thought you said screams, oh.
Speaker 1 (01:58):
What kind of screams?
Well, I'll see you hike Never.
Speaker 2 (02:01):
This is my first hike ever, ever, ever.
Speaker 1 (02:03):
This is great.
Okay, fun, fun.
You're going to experiencesomething that you've never seen
before you do know that I don'tlike the wilderness or nature.
Speaker 2 (02:14):
I'm a city boy and when I moved to Jersey I asked
if I can pave my whole frontyard and they laughed at me.
Speaker 1 (02:22):
So, jeremy, who are you and why do we care about you
?
Speaker 2 (02:26):
I am a first generation American.
My family came from Ukraine inthe 70s.
They're part of like the firstwave of immigrants to come.
During that time my mom and dadmet in Brooklyn, brighton Beach
, got married, had myself, mysister.
My dad was in a gold buyingbusiness in New York for 30
(02:49):
years.
My mother has a ballet schoolin Brooklyn for 30 years.
She still has one.
Speaker 1 (02:55):
Wow, did she ever try to teach you ballet?
Speaker 2 (02:57):
Yeah, so she actually forced me to do ballet till I
was about 10.
Speaker 1 (03:02):
All right, so forced, yes, so this is not your thing.
Speaker 2 (03:06):
No.
Speaker 1 (03:08):
You're not a flingaltoast.
Speaker 2 (03:10):
I don't like dancing, you don't like dancing.
So when I was around 12, I wentto military school and I was in
military school for junior highschool.
Speaker 1 (03:21):
Elective, or were you just that kid that needed to be
forced into a different path?
Speaker 2 (03:28):
Let's just say I didn't last very long in schools
when I was a kid and I needed alittle more discipline and I
didn't listen to authority.
I wouldn't say I wasdisrespectful, I just was very
kind of carefree.
Speaker 1 (03:44):
So did you look at military schools?
If it was a punishment?
Speaker 2 (03:48):
It was.
I mean, you know you'reessentially put in what could be
considered prison for kids,right?
You don't have any free time,you sit on a, you live on a
schedule.
You can't go home.
You go from being a child tobeing a person with no identity
(04:09):
or saying what you can do inyour own life.
So did you?
Speaker 1 (04:14):
find that you harbored the fact that it was a
punishment and maybe yourparents didn't love you.
Speaker 2 (04:22):
No, I understood why I was there, but it doesn't mean
that I wanted to be there.
Speaker 1 (04:30):
Got it, but you got through it.
I did so.
Did you find any good aspectsat all of being a military
school?
Either discipline oreducational value.
Speaker 2 (04:41):
You know what I think ?
That the discipline of themilitary teaches people how to
structure themselves and it alsohelped me in business, where
you know you can structure yourbusiness with the same like
mindsets of the military.
You know everything follows thechain of command.
(05:02):
People don't interfere in thatchain of command.
That's why I never micromanagemy managers or partners, because
I feel like if you're inbusiness with somebody you need
to trust them.
Speaker 1 (05:16):
So let's fast forward a little bit professionally.
So what do you do?
Speaker 2 (05:20):
So my dad was in the gold buying business.
What about the easy route?
Speaker 1 (05:25):
I didn't say this was an easy hike.
I said it was a moderate hike.
Come on.
Speaker 2 (05:33):
Not a good day for asthma today.
Oh, you also have asthmaDeveloped asthma from my
business.
Speaker 1 (05:38):
From your business.
Yeah, okay, then I feel likewe're going to hear this story.
Speaker 2 (05:42):
Yeah, I was in college at the time and I had a
small mortgage company inBrooklyn.
It wasn't really doing too wellbecause during that time this
was when everybody was doing thetalking and walking.
For me right now, as an NG.
Speaker 1 (06:01):
Oh, that's the fun of this whole experience.
Speaker 2 (06:05):
There was a big mortgage boom in late 90s, early
2000s because of the, I guess,the deregulation of banks at the
time, which led to thefinancial crisis.
During that time there was alot of shady things going on in
(06:25):
the mortgage industry.
I was not willing toparticipate in that.
Speaker 1 (06:28):
Such as underwriting mortgages for people who had
extremely low credits worthinessor inability to even afford the
home.
Speaker 2 (06:36):
And you knew in conversation that they couldn't
afford the stuff.
Speaker 1 (06:38):
So a lot of brokers would write them.
Speaker 2 (06:40):
Thank you, roman, so my business wasn't doing too
well because of that.
Speaker 1 (06:45):
Well, that's also part of the reason for 2008's
crisis, right.
Speaker 2 (06:50):
And eventually my dad told me that there's precious
metals in catalytic converters.
Now, when people hear catalyticconverters today, they're like
you're a crook, you feed, yousteal, because they
automatically associate thatbusiness with criminality
because of all the news andthings like that.
Speaker 1 (07:11):
Yeah, I hear about the catalytic converters being
stolen from cars all the time.
Right, right, it's rampant inour towns and our cities these
days.
Speaker 2 (07:21):
Yeah, Well, that's due to the rise in precious
metals because of demand formore catalyst in converters.
They need more catalyticconverters in the world because
they were pumping out so manycars that there was a big
deficit.
So there's precious metal.
What type of metals?
(07:42):
Platinum, palladium and rhodium.
Speaker 1 (07:44):
Oh, very expensive precious metals and those are in
catalytic converters.
What's the purpose of havingthe metals in there?
Speaker 2 (07:50):
So it reduces the CO2 .
The metals do yes.
So you need all three metals tocreate this chemical reaction
that reduces CO2.
And catalytic converters areused in all industries that
produce carbon, so in cars.
They're a smaller version ofwhat an oil refinery would use
(08:13):
or anything.
So catalytic converters areused in every aspect of life,
and for consumers it's in cars.
Speaker 1 (08:23):
OK, so these are only combustion cars.
Electric cars do not havecatalytic converters.
Speaker 2 (08:27):
No, but what people fail to realize is that an
average car produces maybe fivemetric tons of carbon a year.
Speaker 1 (08:36):
OK, that's a lot, it's a lot.
That's a lot for a single car.
Yeah.
Speaker 2 (08:40):
But mining for these rare earth metals has a larger
impact on the world than everycar.
Speaker 1 (08:47):
Yeah.
Speaker 2 (08:48):
I mean, look, it's one of those things where I
don't like nature, but I'd liketo preserve it.
Speaker 1 (08:57):
These are the kind of prerequisites for I took a hike
, kind of have to like nature alittle bit.
So how much metal is in acatalytic converter?
Speaker 2 (09:07):
Meaning like can I?
Speaker 1 (09:08):
take my catalytic converter, crack it open and see
a bar of metal in there.
Speaker 2 (09:11):
It's very small amounts and it's flaked on, so
it's a volume business.
So if someone busted it open,you wouldn't see it.
No, ok, no.
And the misconception also isthat our industry is full of
criminals and mafia, but thetruth is the business is run by
mostly corporations and familypeople and you have some bad
(09:35):
actors that have done some badthings over the years.
Speaker 1 (09:39):
Well, you have bad actors in every single industry,
no matter what right?
Speaker 2 (09:42):
It's the same like in the medical industry, where
doctors prescribe things yeah,or get kickbacks, or get
kickbacks.
Speaker 1 (09:49):
Politicians, every single industry.
There's always a bad human, soyou've built this company based
on precious metals.
Speaker 2 (09:58):
So I started.
How I started in the converterbusiness was my dad told me the
idea.
I got in my car at the end ofwhen I was in school, while I
had my mortgage company.
I was in school full time and Igot in my car, drove around
repair shops on a Fridaydumpster dived into some repair
(10:20):
shops.
Dumpsters picked out thesecatalytic converters.
Speaker 1 (10:25):
Seriously, you were dumpster diving to pick out
catalytic converters?
Speaker 2 (10:28):
Yeah, because back then people would throw them out
.
Oh, they didn't know what wasin it.
People didn't care.
They were not as valuable asthey are today.
Got you have to keep in mindthat the value today was not the
value yesterday.
Speaker 1 (10:40):
Because the price of metals has increased over time.
Right.
Speaker 2 (10:43):
When I started, platinum was maybe 800 ounce,
palladium was probably 200 ounceand what is it today?
900, 1300.
And rhodium was also maybe acouple of hundred ounce.
It probably was about unserenalfamilies, the peak.
It's hit 30,000 an ounce.
So I dumpster dive and Irealized that there at the end
(11:05):
of school, I just dumpster diveand made like a grand selling it
back to one of my competitorsand I was like holy shit,
there's a business here.
So I got a pickup truck, drovearound, started picking up more
material and I was just guessingon how to buy.
Some places would give it forfree, some people would make me
pay, I'd lose, I'd make.
(11:27):
But ultimately I startedcataloging everything that I was
buying.
Speaker 1 (11:32):
So you had that natural business brand, you had
the vision and you saw a hugeopportunity.
Speaker 2 (11:37):
You know, I feel like I saw a business, but it wasn't
like this light that went off.
It was more like I just made agrand, let's see if I can make
two, let's see if I can makethree and right, and just keep
pushing.
So it wasn't really like Ididn't understand what I was
onto, because I had noexperience Right today.
(11:59):
If I saw that, I'd be like ohshit, I have a business.
Back then it was more aboutlike how much more can I make?
Speaker 1 (12:06):
Well, so that's what it takes to be a real hustler
and to really grow a business is.
You just have to do it right,you get through it and all of a
sudden you start recognizingpatterns over time.
You start recognizing that, oh,this is why I did that and
that's why I became sosuccessful.
Alright, so let's cross thisstream Again.
If you fall in, I willdefinitely save you.
Speaker 2 (12:28):
Okay.
Speaker 1 (12:30):
You made that look really easy.
I mean that was an easy path,alright, so here we are.
Hey, listener, thanks forhiking along with us.
For more episodes athiketokahikecom or to recommend
an adventurous guest, apply tobe a sponsor or to simply drop
(12:51):
us a line.
Speaker 2 (12:54):
Look about three months in, I'm at a Chinese
store, a local Chineserestaurant.
My friend's parent walks in,sees me all dirty after a day's
work and is like Jeremy,everything's okay, you're good.
I'm like, yeah, everything isgreat.
And she's like there are acouple.
(13:16):
And the wife says to me youjust I've never seen you this
dirty.
I'm like, well, I'm working.
She's like, okay, yeah, great.
And I knew that they werejudging me based on my
appearance of not being in myusual suit and tie and
conforming to what they?
Speaker 1 (13:36):
You weren't prim and proper anymore.
Speaker 2 (13:38):
What they deem as successful.
Meanwhile, that day I probablymade like two and a half, three
grand just picking through, youknow, scrap.
Speaker 1 (13:48):
Not a bad day's work.
Speaker 2 (13:49):
Yeah, so funny thing about that story is about a year
, maybe less than a year later,their son came to work for me.
Speaker 1 (13:59):
It's amazing how full circle life could be Right,
right.
Speaker 2 (14:03):
Yeah, you know, but we we partnered with a company
called BSF, which is a Huge megabrand.
Speaker 1 (14:09):
Right, publicly traded Right.
Speaker 2 (14:11):
Yeah, in chemicals, pharmaceuticals, weapons,
probably everything.
It's a 100 year old Germancompany.
Yep, it's a monster corporation.
They weren't the first partnerI had.
Okay, I started with a companycalled Techomet.
Then I switched to anothercompany 10 years later called
Sabane Stillwater, which isanother publicly traded company,
(14:34):
mining company in South Africa.
Okay, so when the pandemic hit,I switched to BSF.
Speaker 1 (14:40):
Okay, so you work with these big companies.
I'm sure you negotiated greatrates with them.
Speaker 2 (14:45):
Yeah, you negotiate terms.
They usually give you six to 12month terms, and then you just
got to deliver.
Speaker 1 (14:51):
And you've got these big contracts.
So how much by weight?
What's the weight?
Speaker 2 (14:55):
What's the volume of business?
Speaker 1 (14:56):
you're doing.
Speaker 2 (14:57):
I mean at our peak we were doing about 60,000 pounds
of material a month.
Speaker 1 (15:02):
That's a lot that's a lot.
What do you do?
Package it up.
Speaker 2 (15:06):
So what happens is we buy the cans whole, we break it
down, we put it in SuperSax andthen we ship it in SuperSax.
Speaker 1 (15:13):
That's awesome To Germany.
Speaker 2 (15:14):
No, they have locations in the US.
Okay, so they're scattered allover the US.
For security, I won't say wherethey're located.
But I appreciate that whichlocation we ship to.
But essentially there's pointsin the US that you ship to and
they refine the material here.
Speaker 1 (15:32):
Okay, so you have just the raw material, so they
pay you per pound.
Speaker 2 (15:36):
No, so we refine it actually.
Speaker 1 (15:37):
You refine it as well .
Speaker 2 (15:38):
So they refine it for us.
That's their purpose.
They take a couple of percentfor it and then we can choose to
get the metal back or sell itto the OEMs, the car
manufacturers.
So the mining business is oneaspect of these metals getting
back into the market.
But the recycling businessactually has the biggest impact
(16:01):
and the least impact on theenvironment.
So all these big corporationsthat are in the business of
providing car manufacturers withcatalyst have to buy a certain
amount from recycling.
Speaker 1 (16:13):
Got it In order to maintain their certification or
just the goodwill of?
The public To show that they'reactually involved in buying
from recycling, kind of have toput their money where their
mouth is Right.
Okay, so we've got the businesshere.
We've got the why, the purpose.
You're doing very well, Iassume.
Right, so we're selling 60,000pounds of material to a mega
(16:38):
company.
This is real quality material,so you've got a solid business
here.
How long did it take to get tothat level?
20 years, 20 years.
So you went from pickup trucksand dumpster diving, but at what
point during that 20 yearperiod did it turn into a real
business?
Speaker 2 (16:59):
Probably about two years in.
Two years in, that's prettyquick.
Speaker 1 (17:03):
And you were able to hire staff, get an office, do
the things that a business wouldneed.
Speaker 2 (17:07):
I mean I hired staff, got an office warehouse
probably about eight months inand I was still in school at the
time.
Speaker 1 (17:16):
Okay, so you are clearly a little winded.
Is that because of the business?
Speaker 2 (17:22):
So because when I started the business I had
nobody to really teach meanything.
I would cut the material myselfand not wear PPE.
Speaker 1 (17:35):
I did Google it and watch a YouTube video on
Cadillac Converter recycling.
The big machine basically lookslike a guillotine with a point
Correct, Slices in half.
There's powder, lots of powderin it.
And it's flying all over theplace, so you didn't think to
ever wear a mask.
Speaker 2 (17:52):
I was 22 years old.
Speaker 1 (17:54):
There you go.
That's all you had to say.
You were 22.
Speaker 2 (17:55):
I was 22 years old.
Yep, I was on top of the world,like every 22 year old is, not
financially or physically, I wasjust mentally on top of the
world and I would cut theseCadillacs open and inhale all
this material.
Eventually, it scars your lungs.
(18:17):
I imagine, because it's likefine particles, very fine
particles Like a concrete almostRight, okay, and it's
solidified and about two yearsinto the business I developed
asthma from it.
Okay.
Speaker 1 (18:29):
And I imagine you saw a doctor.
Did the doctor tell you cut itout?
Speaker 2 (18:33):
Doctor said cut it out.
I said you don't know whatyou're talking about.
Found another doctor.
Found another doctor.
Speaker 1 (18:40):
Notice a trend from when you were young with school
and authority.
Okay.
Speaker 2 (18:46):
You know, until you finally realize and associate
wearing, you feel sick and don't.
So you know, today my guys wearrespirators and yeah.
Speaker 1 (18:55):
You care about their health Right.
Speaker 2 (18:58):
They don't catch anybody without a respirator.
They're allowed to goimmediately.
Speaker 1 (19:01):
Well, it reminds me of Paul O'Neill.
It's one of the best businessstories that I've ever heard.
When I went to business school,they taught about it.
Paul O'Neill became the CEO ofAlcoa, the aluminum corporation
of America, in the 80s, and atthe time the stock was not doing
too great, and that's why theybrought Paul in.
And Paul's first pressconference, where the investment
(19:25):
community is just sitting therewaiting on baited breath for
how he's going to pumpshareholder value.
The only thing he wanted totalk about was not P&Ls, not
revenue, not new products, newdesign none of that.
All he wanted to talk about wassafety.
He only cared about workersafety, and then his entire
conversation was around we havetoo many accidents, we have too
(19:47):
many mistakes, we have too manypeople dying Right, they're
falling into the furnaces,they're dying of heat exhaustion
, exhaustion Right, it's adangerous business to be in.
So, obviously, what happenednext?
The investment community hatedthat.
The stock tanked.
And well, paul did his thing.
He then made sure that safetyworker safety was the number one
(20:10):
priority.
If there was an incident, itwas reported.
He bought everyone new safetygear.
There was new safety trainings.
Well, in a matter of only a fewyears, it became one of the
most valuable companies ever andthe reason why his message was
more than just safety.
Let's be honest, I'm sure hetruly did care about people and
their safety, but he knew if theCEO cares about your life and
(20:36):
your safety, then you are goingto want to work more efficiently
, better and happier, knowingthat people actually care about
you and at work and they had theworst safety record prior to
Paul after.
I believe I have to check thisas well.
I'll check while you're on thetrail, but I believe they only
had one or two safety incidentsduring his entire tenure.
Speaker 2 (20:59):
That's pretty amazing .
Speaker 1 (21:00):
Yeah, and he was an amazing CEO and it's an amazing
story to tell.
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(21:42):
You are clearly very smart,wise, you understand and you can
foresee that your business isgoing to be challenged.
So what steps are you taking toeither take this current
business future proof it,diversify it or, in essence,
wind it down?
Speaker 2 (21:59):
Yeah.
So I think any business thesmart business owners will
always look forward and try topredict the future.
You might not always be right,but you have to, in one way or
another, try to predict what'shappening six to twelve months
forward.
That's right.
In our case, I'm trying topredict three, four years
(22:23):
forward, or I started doing thatseveral years ago.
Speaker 1 (22:26):
Give me for instance of what you're doing.
Speaker 2 (22:30):
Right now we're in the process of trying to acquire
other junk yard scrap yard sowe can diversify out of just
doing catalytic converters.
Speaker 1 (22:39):
Okay, so one key approach is to diversify
products.
Speaker 2 (22:42):
If you can right, not every industry you can
diversify.
Speaker 1 (22:46):
Well, you can go off into different lines of business
, but from at least my ownexperience in failing, if you
are going to diversify then youhave to be all in it.
You have to be ready todiversify.
You have to be ready and youhave to have milestones when you
do pivot and you have to bewilling to invest in that, like
you invested in your firstbusiness.
Otherwise side business failsRight.
(23:08):
The pivot will always fail,sure.
Speaker 2 (23:12):
I think that business owners need to figure out how
to pivot.
I know everyone uses the termentrepreneur today and it's a
very loose term.
It's incredibly loose at thetime?
I don't think anybody In fact.
Speaker 1 (23:27):
The right term is what Mark Cuban said it's
entrepreneur.
Speaker 2 (23:30):
It's a lot.
Speaker 1 (23:30):
Because it's entrepreneur.
There are so many people thathave great ideas and visions but
they don't have the ability topivot from being that idea, that
visionary, that entrepreneur,into being a business owner.
There are major differencesbetween an entrepreneur and a
business owner, Agreed as big asof a difference as a business
(23:51):
owner and a CEO, and they're notused interchangeably Right.
Speaker 2 (23:55):
If you own a deli, you're a business owner yeah,
small business owner.
If you're an entrepreneur, Ithink you're creating things
that are changing society.
I consider myself a businessowner, not an entrepreneur.
Even though I've been involvedin various businesses in my life
, that doesn't make me anentrepreneur.
Speaker 1 (24:15):
I would consider you an entrepreneur based on the
fact that you had a mortgagebusiness.
To me, the entrepreneur is thebusiness thinking, the mentality
you have.
You saw a hole and a void andyou filled it.
You had that vision.
Now you turned into a businessowner with this current company,
because now you're running aphysical business Right, but you
(24:37):
had mentioned before that youalways see ideas, whether it was
trading cards throwing up or amortgage business.
That's entrepreneurial, right.
You're constantly looking forthe next latest grace, right,
Even now when you said with thescrap yards.
That's an entrepreneurialmindset, right, but you still
own a business and that's yourcore focus.
(24:57):
Now, when you sell thisbusiness, then we'll have
another conversation.
Speaker 2 (25:03):
I mean I don't know if I'll ever sell it.
I have two sons, so I don'tknow what the future holds for
them, but maybe it'll besomething they'll want to go
into.
Not necessarily I want them togo into it.
Speaker 1 (25:15):
That was my next question.
Speaker 2 (25:16):
But if they like it and enjoy it, then why not?
Speaker 1 (25:21):
So you do know the risk of having a generational
business, correct?
Speaker 2 (25:25):
Well, most of the time they don't live up to the
standards and it'll go out ofbusiness anyway.
Speaker 1 (25:31):
That's exactly right.
The statistic is pretty highRight, and that's because the
child, the second generation,was born without the same hunger
in their belly, because thefather took care of them.
Right Now, from what I'mhearing of you and I know of you
, I have a feeling you'reprobably not raising your kids
to be spoiled.
Speaker 2 (25:53):
I am, you are, yeah, all right, I'm surprised.
Speaker 1 (25:57):
Look, it's like being wrong.
Speaker 2 (25:58):
You know I'm of the.
They're still young, they'llhave their time to grind.
I let them understand theconcept of money, but you know I
do give them a majority of whatthey want.
Okay, but they're good kids sothey deserve it.
(26:19):
Good, you know, they don'tthrow tantrums.
They don't cry and moan aboutthings.
Speaker 1 (26:27):
They're having three children.
You call them bullshit.
Your kids, don't throw tantrums.
Yeah, no, my kids don't throwtantrums Around you or in
general, in general, you justbecame the most envied or
loathed guest.
Speaker 2 (26:43):
I don't look.
I think it has a lot to do withgenetics.
Maybe my wife and I are bothvery calm people.
Speaker 1 (26:52):
Okay, I gather.
Speaker 2 (26:54):
And you know, because of that maybe something kind of
is innate in them to not throwtantrums.
Speaker 1 (27:01):
So that would explain why my kids are sometimes nuts,
my wife and I are not calm.
We're very energetic people.
We're achievers in that sense.
Yeah, I mean look it's.
Speaker 2 (27:14):
There's nothing wrong with throwing tantrums or
showing emotion.
Maybe it's better in a way,because you release that energy
Right.
You know for my kids they holdit in and disperse it
differently, their frustration.
But maybe that's going to be adownside for them in life.
I don't know.
Speaker 1 (27:33):
Well, time will tell, but one thing I do know is you
never tell someone else how toparent, because you're wrong as
well.
So all right, let's get back tothis business.
You've done a pivot.
Speaker 2 (27:44):
Let's get back to the business.
Speaker 1 (27:45):
Do you see success with this pivot currently, or is
it still a work in progress?
Speaker 2 (27:52):
Nobody knows, right, it's just another excuse me,
just another hustle.
Right, you were pivotingbecause I know the scrap
industry is a good industry.
But whether or not I'll succeed, that time will tell.
It's all based on my execution.
There's no guarantee for mebased on prior history.
Speaker 1 (28:15):
Well, there's no guarantees with anything in life
, right, Except for the factthat you are your own best
investment right.
Your time, your effort, yourhustle makes you the best
investment you'll ever have.
Right.
And if you're not willing toconstantly reinvest and re-up
yourself, then you kind of wantyourself to fail.
Speaker 2 (28:36):
Well, it kind of goes with the saying scared money
doesn't make money.
Speaker 1 (28:40):
Scared money does not make money.
Yes, that is absolutely true.
Speaker 2 (28:43):
You have to invest and you have to take risk.
If you don't take risk, thenyou'll never get anywhere.
And I think there's differentrisk at different points in life
, right?
So if you're 20 years old, youcan take more risk, and then if
you're 30, you'll probably takeless risk because you have
(29:04):
family, you have people thatdepend on you, right.
And then when you're 40, you'llprobably take even less risk.
But then if you're somebodylike Elon or somebody else,
you'll keep taking risks, and Ienvy people like that and I
probably try to live my life alittle closer to that mentality
that I'll always take risk.
Speaker 1 (29:24):
Can I ask do you truly believe that electric is
not the best thing for theplanet, or is it because you run
a business currently thatrequires electric to be
suppressed?
Speaker 2 (29:37):
So I actually drive electric cars, ironically, right
, so I'm like I actually don't.
Speaker 1 (29:45):
You don't practice what you preach?
Well, I do.
No, yeah, because.
Speaker 2 (29:49):
I don't.
I'm not against progress andchange and I'll try anything.
And if I really do believe thatelectric is better for the
planet, I would fully adopt toit and even if it destroys my
business and industry, it's okay.
Progress is part of life andchange is part of life, and if
(30:13):
you stand in the way of progressand change, you get left behind
.
So me driving an electric carbeing in a petrol industry is
not because I hate electric or Iactually like electric, but I
do think that it's worse for theworld.
You actually can't recyclelithium batteries.
(30:36):
You can turn them into otherthings, but you have to continue
mining the earth for the rareearth metals.
Speaker 1 (30:45):
So that is something that is a scary reality of all
of this is that we're all beingsold that electric is better for
the environment.
Right, the mentality and thisis I don't know if this is just
an American mentality or Navite,or the fact that the average
person's IQ isn't enabling themto think beyond but we believe
(31:06):
as a whole that, oh, if I justplug it into my wall, it's
better for the environment.
Right, there's nothing comingout of an exhaust pipe.
It's because you don't see it.
Exactly, we don't see it, so wedon't know what it really takes
to produce that kilowatt.
Right, the largest fuel sourcefor this country still is fossil
fuel.
Right, it's coal.
(31:27):
Right, natural gas has to befracked, right, Hydro power is
great, but we don't have bigdams, except if you're up, let's
say, in Rochester, new York, orin Buffalo or Niagara, right,
right, so we're still burningsomething to make that kilowatt.
Speaker 2 (31:43):
Right, plus mining for lithium and the other rare
earth metals that go intolithium are detrimental to our
planet.
Speaker 1 (31:51):
So is this a complete farce?
Are we being sold to billiards?
Speaker 2 (31:54):
We are essentially Until we find a way to
effectively bring these rareearth metals back into their
rare form and recycle them andput them into new cars, we will
essentially destroy this planetmining for these materials.
Speaker 1 (32:11):
So we're exacerbating the problem by essentially
swatting on a fly with asledgehammer, which is what we
do very well in this country.
Speaker 2 (32:19):
Right, and then you can ask the question again so
why are you driving electric?
Speaker 1 (32:23):
Yeah.
Speaker 2 (32:23):
I drive it because it's fast, it's quiet and I like
the comfort of plugging it athome.
I hate going to the gas station.
Speaker 1 (32:31):
So there you go.
So that makes more sense.
The convenience Would you liketo sit next to the pergola?
Sure, we can have a seat in aromantic pergola.
So that unfolds the reality.
And I don't buy it when peoplesay they're purely driving an
electric car for the environment, because either they are
uneducated, unintelligent orunaware.
Speaker 2 (32:54):
I mean they're essentially listening to what
they're being told.
Speaker 1 (32:58):
Right which falls under the uneducated
unintelligent and unaware itfalls into the three categories.
Now it's looks like asacrificing throne.
Speaker 2 (33:06):
Well, jeremy, like an old Mayan, you know.
Speaker 1 (33:11):
Mayan would require a lot more age here.
In fact, I don't think thatthis country was around during
that.
Speaker 2 (33:17):
Obviously, but just giving the analogy.
Speaker 1 (33:20):
So I do appreciate the fact that you say your
reality.
The reality is, is you'redriving an electric car because
of the convenience?
Factor and that makes sense.
Speaker 2 (33:28):
For a daily driver not hearing an engine and
plugging in when you come home,not having to go to a gas
station is extremely convenient.
Speaker 1 (33:37):
And being able to charge on your time.
So I appreciate that.
I just wish people wouldcompletely stop saying, oh, it's
better for the environment.
Because when I hear people sayit's better for the environment,
I know I can't have anintelligent conversation with
you.
I immediately know that you'renot going to be able to have the
middle conversation.
You're going to pick one sideyou have gone.
(33:59):
How many miles do you thinkyou've went?
Speaker 2 (34:02):
I can tell you oh, that's cheating 1.8.
I got 1.9.
Speaker 1 (34:08):
Well, that's because you got double steps A little
shorter than me, so your legshave to move more.
That's my style.
Speaker 2 (34:15):
So not nice.
I only look shorter.
You're standing higher, you'rewearing heels, I am no.
Speaker 1 (34:22):
Look, we have some debris from some ferns that want
to propagate and you have anettle.
Excuse me, isn't that cool howthat works?
Yeah, shall we, yeah, yes, Iwant to hear about your business
lessons, inspirations, whathave you learned?
Speaker 2 (34:43):
So let's talk about Earlier we talked about trust.
So trust comes and goes in lifeand the biggest people that can
betray you is probably family,and then goes friends, and then
business partners and whatnot.
Speaker 1 (35:00):
Well, the people that can hurt you the most are the
ones that are closest to youlong-standing relationships, so
in our industry a lot of it ison trust.
Speaker 2 (35:11):
So you ship material to a refiner.
You hope that the refiner willpay you, but the refiner also
pays you on delivery in advanceof the material and hopes that
what you're saying is in thereis actually in there before.
It takes them three, fourmonths to process the material
and get a result on it.
(35:31):
So there's a lot of trustinvolved and because of that
trust, when we buy from peoplewe also have to trust the people
we buy from.
And we've advanced people andbeen burned and things like that
.
And it's just the nature ofbusiness where you figure out if
you want to take these type ofrisks or not.
(35:54):
And it's probably a definingmoment for people in business if
they take those risks Becauseit's easier not to take those
risks.
It's easier to hold on to yourmoney and take your 5% or 10%
return on it a year and in a row.
Speaker 1 (36:10):
But that's what kills a business.
The stalemate of just ridingthe hockey stick plateau that's
how you kill a business.
The second you take your footoff the accelerator, that's when
your business starts dying.
Speaker 2 (36:24):
I think every business owner at some point
takes their foot off theaccelerator.
Because you can't be 100.
Regardless of what people showon social media, of all these
business advisors that areteaching Hustle and whatnot and
go 100%.
And I wake up every day 5 AM,oh, that's all bullshit, yeah.
But come to my class and let meteach you.
(36:46):
It doesn't make sense.
Speaker 1 (36:48):
That's how they made their money.
You bought their class.
Speaker 2 (36:50):
Right.
Any business owner that isselling their idea is selling
you bullshit.
Nobody sells their ideas andtheir process for money, because
that's their edge, that's theircompetitive edge.
Speaker 1 (37:06):
That's what's essential.
This has been a recurring themealways.
Right, it was back in the dayit was about flipping houses,
how I made my first millionflipping houses.
Well, you made it because theyjust sold you a $99 course.
So I agree with that.
It frustrates me when I seethose social media posts with
those high energy individuals,because the reality is is
(37:28):
running a business sucks?
Speaker 2 (37:30):
Yeah, it is.
It's tough, it's not fun.
It's constant stress, it'sconstant worry.
It's constant dealing withpolitics, compliance, staffing
managers You're always dealingwith some kind of problem,
putting out some kind of fire.
Everyone is your boss.
Speaker 1 (37:50):
I get frustrated when I hear someone who says I want
to start a business because Iwant to be my own boss.
Well, the reality is is onceyou have that first employee,
that first customer, that firstanything, you work for them.
There's no your own boss.
And if you think that theluxury is you could take a month
off on vacation, sure, butunless you've built a good
business and a good brand andhave great people with metrics
(38:11):
and goals, it's going to gobackwards.
So you're double paying foryour own vacation.
But I know I said, owning abusiness sucks, but it sucks in
the emotional and mental tollthat it takes on you.
There are a lot of perks toowning a business the freedoms
you can buy and the don'ts thatyou don't have to do anymore.
(38:32):
Later on, after you havenurtured the business, grown a
business, watered it, fed itright, that's when you can reap
some of the reward.
But until then it sucks.
Speaker 2 (38:44):
And that's when you can take your foot off the pedal
right.
So we got into this because youmentioned about being on the
accelerator always.
You can take your foot off attimes right and enjoy the fruits
of your labor, and it'simportant to do that.
But it's also important torecognize when you got to step
(39:04):
back in and keep pushing forward.
Speaker 1 (39:08):
That's right.
Well, it also is important toget the right people on the team
, right People in the right seat.
That's attraction term, it'spracticed and I believe in it
heavily right.
It's also important to be ableto delegate, as now a CEO and a
business owner right and that'sthe difference between the
entrepreneur and the visionaryand the business owner and the
(39:31):
CEO is the business owner andCEO has to make those business
decisions to help delegate right.
And I see this all too oftenwith small business owners
they're afraid to hire, they'reafraid to spend some money on
that next in line, because youcan see the money, you can't see
the effort from the individual,you can't see the trust.
Speaker 2 (39:53):
I mean, if you don't invest in your business, you're
not getting anywhere.
No, and if you don't, it's thesame like investing in yourself.
Right, you have to constantlyinvest in your business, in
yourself, to move forward,otherwise you're moving
backwards.
Speaker 1 (40:10):
And that is.
There are lots of businessowners that are listening to
this show, or any other showlike this, where they're
scratching their heads saying,well, why isn't my business
taking off, why isn't mybusiness accelerating?
And that's because you'reliving in that plateau but
you're not doing anything torise above or step on the
accelerator again.
Speaker 2 (40:29):
You know, maybe that's the case, or maybe
they're just in the wrongbusiness, right?
Not every business has to besuccessful.
This is another likemisconception in today's world
is like oh, I'm gonna grow up,I'm going to open up a business
and I'm going to be an instantsuccess.
Not every idea, not everybusiness has success.
Speaker 1 (40:50):
That's very Gen X of you.
By the way, I believe theyounger generations think that
yeah, I started the business.
Why am I not successful?
Or why am I not a crazy famousYouTuber is what they're saying
today.
So I do agree with you that youhave to be willing to put in
the work.
A while back I said that screwthe business plan unless you're
(41:13):
taking on investors.
Just write a loosely definedbusiness plan, because you have
to be willing to pivot if youwant your business to be
successful.
Speaker 2 (41:23):
Well, like I just said, it doesn't even matter if
you do all of that, there'sstill no guarantee.
So it's like what's drivingtoday's world is people that are
solving problems, or reallygood marketing.
Speaker 1 (41:40):
Really good marketing sometimes wins.
Speaker 2 (41:43):
So if you're not solving problem or you're like a
marketing guru, you're probablynot going to succeed unless you
have like a really nichebusiness.
Speaker 1 (41:52):
So what problems are you solving?
Speaker 2 (41:55):
Well, I guess you can say I'm in the recycling
industry, so I'm solving theissue of recycling materials
that have been mined and puttingthem back into the hands of car
manufacturers to create morecatalysts so they don't have to
mine for those metals again.
So that's my problem, that I'msolving for the world on a small
(42:19):
scale and regardless of howglamorous that industry is, it's
an essential industry for ourplanet and for the car industry.
Speaker 1 (42:32):
That's right.
So, on behalf of the world, Ido thank you for doing your part
.
It does make sense.
It makes complete sense, thoughI wish cars would stop getting
stolen for it.
So how speaking of that,because it is a hot topic and
let's talk about that how do youprevent stolen product from
being delivered to you?
Speaker 2 (42:55):
There's a lot of ways that people can prevent that.
The way we do it is we haveattorneys that put in these
protocols for us where we dowhat we call KYC know your
customer.
So we don't buy from the public, we only buy from people that
are in our industry.
(43:16):
So that eliminates a bigmajority of stolen material just
not buying from the public.
People can't just show up andsell to our door.
You have to be a registeredbusiness, you have to be in our
industry to sell to us.
Speaker 1 (43:32):
After that so you're a known, known you have to go
through lots of checks,backwards checks.
Speaker 2 (43:37):
Lots of checks.
So after that they give ustheir tax ID, business licenses,
ids.
We run background checksthrough something called World
Check and if anything comes backit checks them for the whole
world if they did anythingillegal and if it's anything of
question, we say no.
Speaker 1 (43:58):
So just right there, when you said we have to have
their tax ID, I'm going tosurmise that that whittles down
a lot of the street theft,because the guy who's stealing a
catalytic converter is probablynot going to have a tax ID or
be willing to give you hisdriver's license, but that's my
protocol.
Speaker 2 (44:16):
That doesn't mean that the guy 50 miles away from
me is following the sameprotocols.
Speaker 1 (44:23):
So we talk.
There's always bad actors inevery industry, no matter what
it is.
Now, unfortunately, the badactors get the biggest
reputation.
So that's what your industry isknown for is dealing with
pilferage theft.
Speaker 2 (44:37):
Well, it is recently.
It wasn't the case five yearsago.
It's a recent phenomenon andit's also dying out because the
price of precious metals aretanking and the law enforcement
is cracking down on companiesthat are not following the right
protocols.
So I would say catalyst theftis probably down 70, 80%
(45:02):
nationwide.
Speaker 1 (45:03):
I'm going to ask you a tough question.
Speaker 2 (45:05):
Do you think?
Speaker 1 (45:06):
the industry that you helped create created the crime
wave for the theft of catalyticconverters.
Speaker 2 (45:12):
No, I think the media that talks about it constantly
and talks about the values andhow easy it is to steal it
creates a more theft.
Speaker 1 (45:23):
So I agree with you If you suppress the name, you
hide that you don't glorify themor even vilify them.
You essentially make theirstory pointless and irrelevant,
hopefully curb it.
But the challenge that we have,because we still like to hunt
witches right, the media won'tlet that happen.
(45:44):
The media sells on fear, chaosright, it keeps you glued to the
TV, it gets the amygdalarunning and essentially hooked
like a drug and the media can'tlive that down.
And we can draw thatcorrelation to everything that
the media does.
And unless we shut off media,which we will not be doing-
there's no way to escape this.
Speaker 2 (46:05):
There's no way to escape this.
When we were kids, we wouldturn on the news once a day and
we'd get our 20, 30 minutes ofnews with our parents and we'd
move about our lives.
Speaker 1 (46:17):
I'm shocked you even sat through.
I hate it.
Speaker 2 (46:19):
Washington.
Well, I mean, it was in thebackground.
Today you're getting news everysecond.
Speaker 1 (46:26):
Every second.
Speaker 2 (46:27):
Everywhere you go, you're getting news, and that's
why there's so much depression,anxiety, right?
Because you're constantly beingfed negative information, right
?
So there's no more positivitycoming out of media, but that's
a separate so we could changethat right.
Speaker 1 (46:46):
There are positive programs.
I mean the goal of this, at thehands of always just apples
lost on campus program, is tolead with inspiration,
motivation.
Business tells right To findsome path to a less depressive
environment.
But you know, the honestapproach or the honest reality
is I started this because I wason a path of depression after
watching all of this one-sidednews.
Speaker 2 (47:07):
Right.
I mean you also are.
All of us are coming out of apart in life that we never
thought would happen.
Right With this pandemic,regardless of it being a mild
pandemic right or an overblownpandemic, let's just, let's say
right, a lot of people stilldied and it was still a pandemic
(47:30):
right, no matter.
No matter to what degree it was.
We still live through theshutdowns and, you know not
knowing what the future holds,because that's what the reality
was in the beginning there's alot of anxiety coming out of it.
Speaker 1 (47:43):
We live together in solidarity through the biggest
fear-mongering there has beenever in our century, and our
lives for sure, and it taught ussome valuable lessons, but it
also drove a nail straightthrough the heart of this
country.
All right, so now for the mostpivotal question of the hour do
(48:05):
you feel like you're successful?
Speaker 2 (48:07):
Look, I think you know someone asked me that a
week ago I was at a watch eventand someone said you know you're
successful.
Do you feel successful?
I said everyone has their gaugeof success.
I don't feel successful yet.
Speaker 1 (48:23):
You don't feel successful, yet I do not.
Okay, so let me ask wouldsomeone from the outside or
listening in consider you asuccessful person?
Speaker 2 (48:32):
Yeah, I'm sure, based on society standards.
Speaker 1 (48:35):
yes, Okay, and what is your definition of success?
I don't know what it is.
You don't know what yourdefinition is.
Speaker 2 (48:41):
That's what keeps pushing me forward, because I
haven't found that point where Ifeel that I've peaked.
Speaker 1 (48:50):
Okay.
So are you one of those peoplewhere, if it's your dying
deathbed, you're gonna wonder ifyou were ever happy or if you
had your purpose fulfilled?
Probably.
Speaker 2 (49:02):
Okay, purpose is a very loose term because you know
all of this, every, all theexistence that we have and that
we live in, eventually will begone anyway.
So it doesn't really thatpurpose doesn't really matter.
I guess it's more about whatyou do in the moment and who you
(49:28):
are in the moment, and I guessthat's kind of where I'm at in
life is.
You know, I'm realizing that itdoesn't necessarily matter
what's gonna be of you in 100 or200 years, because you won't be
around and most likely 99% ofwhat of humanity today.
There won't be any remnants ofus in a couple of hundred years
(49:51):
anyway.
Speaker 1 (49:52):
I hate to say it.
I'm fairly certain that host ofpodcasts will not be in the
history books, right, and Idon't think catalytic converter
recycling man will be thereeither.
But we do live at least onegeneration, possibly two, in the
memories of our family and ourchildren, right, right.
So I would say there is purposethere.
Speaker 2 (50:10):
I mean, I can define purpose in that sense right.
Speaker 1 (50:12):
So when do you think you're going to arrive upon your
purpose?
Speaker 2 (50:15):
Maybe I will, maybe I won't.
Does that bother you?
Sometimes it does, sometimes itdoesn't.
It's one of those things whereyou know you kind of have to
accept as you get older.
You know, when you're in your20s and 30s this life is very
different.
Mentally, yes, when you turn 40, you realize that you are
(50:39):
midlife and time is not on yourside anymore.
Speaker 1 (50:43):
Yeah, you don't have a lot.
Speaker 2 (50:44):
Right and now you have to make smarter choices of
how you spend your time.
Speaker 1 (50:51):
So there are a whole bunch of people listening to us
right now there and in the sameexact thought process.
They're in the same boat withthis conversation and they're
wondering what the hell you knowmidlife crisis.
The struggle is real and it'snot about just going out and
buying your Corvette right oryour fancy car to get you out of
the funk.
It is the reality that, yeah,half is gone.
(51:13):
If you're lucky, half is up.
If you're lucky, half is upright, right, and that's a big
kick in the butt.
Speaker 2 (51:20):
People call it a midlife crisis because it's
easier to call it that right,but I don't think it's a midlife
crisis.
I think it's reflection on yourlife and your future.
Speaker 1 (51:34):
Okay, right so it's not a negative thing.
Well, it's used in a negativeconnotation as in a slight to
men, and it is, you know itqualified with the acquisition
of a brand new shiny redCorvette.
Look Sorry to stereotype, Ilove.
Speaker 2 (51:51):
Corvettes.
That's fine, but you know youalso have to consider the fact
that most people prior to thesecrazy years couldn't afford
shiny red cars, sports cars, intheir 20s and 30s.
Most of the time, you can onlystart affording these things in
your 40s and 50s.
So the association with midlifecrisis and that I feel like
(52:15):
it's kind of silly, but you knowthat is the association with
that.
Speaker 1 (52:20):
There's nothing wrong with it.
We could justify it.
Obviously, like you just said,in your 20s and 30s you couldn't
afford that dream car and thenlater on in life you were able
to afford it.
Absolutely, go out and buy thedream car If you absolutely want
to.
I'm just saying that it isactually really healthy when you
get to that midlife point,because if you harness the fact
that you are now reflecting onwhat your life has been, where
(52:44):
it's going, the purpose of it,you could potentially see a
pivot to becoming a betterperson.
And I think, at least formyself, I have seen that.
Speaker 2 (52:51):
Yeah, so it's midlife reflection for you.
Midlife reflection, let'strademark that term.
Speaker 1 (52:56):
This is trademarked by Jeremy and Darren On the I
Took a Hike podcast.
Technically, you signed thewaiver, so it's now mine, but no
, it's the trademark.
Reflection right In midlifecrisis.
It's midlife reflection, rightit's absolutely true.
Speaker 2 (53:09):
For me, purpose getting back to purpose is a
very loose term and I don't know.
For some people, purpose istheir kids, their family and
their business.
That might not be my purpose.
I don't know my purpose.
Speaker 1 (53:25):
I do believe you are successful.
Thank you.
Your conversation aloneinspires me.
It motivates me.
You obviously have a fantasticentrepreneurial mind, an
entrepreneurial spirit.
You've been a great businessowner.
You do have these self-doubt,self-reflection moments, but I
think that's what keeps yougrounded, sure, and probably why
you don't rest.
Speaker 2 (53:45):
Yeah, I mean, like I said, I do give breaks, but I do
keep pushing forward, and Ithink that's important.
Speaker 1 (53:52):
That's an important marker in every successful
business-minded individual.
Speaker 2 (53:57):
Yeah, and I think that the most important thing
for your listeners is for themto understand that, depending on
what point in life they are,they should take the risk
accordingly.
If you're 20, go all in, that'sright.
If you're 30, be a littlesmarter.
If you're 40, think a littlebit more about what you're doing
(54:20):
, because time is not on yourside.
Speaker 1 (54:22):
Well, Jeremy Royzend, I want to thank you for joining
me along this experience.
Speaker 2 (54:27):
I enjoyed our conversation.
Speaker 1 (54:28):
Thank you for having me and I absolutely see a
successful person, whether ornot you believe that.
Speaker 2 (54:34):
Listen, I won't say I'm unsuccessful, I'm just not.
I haven't reached my peak ofsuccess that I deem as
successful.
Speaker 1 (54:44):
Well, I will follow up with you because I want to
know when you're there.
Speaker 2 (54:47):
Yeah, maybe you'll take the journey with me.
We'll come up with a concept.
Speaker 1 (54:51):
That would be really cool and in a way now I'm hoping
you never find it, because ifI'm still searching for that
journey along with you, thatmeans we're living a very long
life, right.
So here's to your health.
Likewise, bro.
Thank you Next time on, I Tooka Hike.
We go off the beaten path onlyto find our way back with former
COO and CFO of Paramount GlobalPremium Group, michael Crotty.
(55:14):
This episode is sponsored byDeFi Supplements.
Are you feeling stuck in a rut?
Do you need more energy for thetrail?
Stuck behind the screen all dayand lacking focus?
Well, you need to recalibrate,my friend, and get your energy
back for the summit.
Calibrate is a premium brainhealth supplement doctor
formulated to help with energy,focus, mood and longevity.
(55:37):
Visit defiyourmindcom and usecode Hike for 20% off and you
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