We’re also raising millions of dollars quarterly for charities that give back to society. We’re collecting and recycling close to a million kilos of non-recyclable waste every week, truly phenomenal numbers that (previously) had no other destination other than landfill. I hope to keep doing it for a very long time and the reason is because it’s incredibly fulfilling! A lot of entrepreneurs want to start a business, scale it then sell it. TerraCycle fulfils me on multiple levels. How does what you’re doing fulfil you? Is the answer found in what you set out to achieve or is it a more personal sense of fulfilment? That was the very specific moment where it all came to life. There’s something magical here! That’s when the concept of garbage started getting unpacked, and literally how TerraCycle was born.
On a hunch, we started feeding the plants worm poop or castings (as they’re properly called), and that was the inspirational moment! You’re taking garbage, people pay you for it, then making a product that plants truly love. Back in Canada, my friends and I started growing pot in our basements. We actually started by taking organic waste, feeding it to worms, and creating a fertilizer. What were you doing before setting up TerraCycle? Was there an event or catalyst? We’ve evolved from being a worm poo company to one that collects and recycles ANYTHING that you couldn’t recycle in your normal council or municipal system. 14 years later, we operate in 24 countries including Australia and New Zealand, and we just opened Japan, China, Taiwan, South Korea and Singapore. I searched for a business model that would accomplish that purpose, and I found that solving the idea of garbage fit, and TerraCycle was born. The purpose of business should really be what it does to benefit society, or the planet, or both. Reflecting on that, I realised that the purpose of business should really be what it does to benefit society, or the planet, or both. Most stakeholders, employees, and customers don’t even know who the owner is! Most of us don’t go to work to benefit shareholders. While that’s an important function to business, I struggled with that being the purpose of why we go to work.
In university, I started to think more about the purpose of business, and one of the big challenges I discovered was that the purpose of business was profit, profit to shareholders to be exact. At the time none of these (businesses) had anything to to do with society or being a social business but I really fell in love with the concept that when you have an idea and you work really hard, it can become real. I decided to start a few different companies, and what struck me during that journey was how powerful entrepreneurship could be. After I turned 4 we left Hungary for Europe moving to Canada, before finally settling in the US where I attended university, which is maybe one of the center points of Capitalism these days. I’ve always been fascinated by entrepreneurship, partly because I was born in Hungary when it was still Communist, and entrepreneurship is a very anti-Communist idea. Q&A Can you recall the ‘feeling’ and ‘intention’ behind TerraCycle? Where did your desire initially come from to establish the business? Read on to discover his story, advice and the 3 most important things you must do to become a successful social entreprene ur. He spoke to me via Skype from his kitchen – fresh faced and adorned with his signature John Deere® cap. From the moment I contacted TerraCycle HQ in Sydney, Australia I was met with enthusiasm, warmth and an immediate sense that everyone in this organisation is connected to a higher purpose, and after interviewing their founder I can see why. Tom and TerraCycle have built a global recycling empire from the inside out – literally. This enigmatic entrepreneur has engaged over 60 million recyclers worldwide, raised over $15 million USD for charity and delivers recycling services in over 24 countries – and the numbers are growing, daily. I was inspired to interview Tom Szaky after discovering the quiet ‘recycling revolution’ that is TerraCycle and the incredible impact it’s making across the globe. I am thrilled to be launching Your Legacy Project with a social entrepreneur who is making a phenomenal difference.
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