Matthew Telesca is a prominent American entrepreneur, investor, and business leader. In 2000, he founded MGN Logistics, Inc., a company that specializes in logistics and transportation solutions. As an early adopter of web-based transportation solutions, Telesca launched LogisticsQuote.com, an innovative platform that provided transportation quotes to customers online, in the same year. His entrepreneurial spirit and visionary leadership have been instrumental in driving the growth and success of MGN Logistics over the years.
Matthew is an enthusiastic reader, passionate entrepreneur, and technology aficionado. He has successfully founded and sold several companies while retaining significant investments in numerous others. Apart from his business ventures, Telesca has also made substantial investments in real estate and cryptocurrency, with estimated holdings valued between $18 to $23 million. His diverse business interests, coupled with his entrepreneurial acumen, have helped him build a considerable net worth over the years.
As the President and CEO, Telesca’s main responsibility is to guide the company’s future direction in terms of both acquisitions and technology development. He is constantly evaluating potential acquisitions, networking with other company founders and entrepreneurs to explore opportunities. Additionally, he keeps abreast of the latest technology trends in the transportation and logistics industry. Currently, the company is focused on expanding into artificial intelligence and developing technology that will provide exceptional results for their clients’ freight management performance.
Idea to Improve Process
Telesca started as a laborer in a warehouse but was quickly promoted to the position of warehouse and logistics manager. He became enamored with creating systems and processes that could simplify and automate his responsibilities. At that time, there were very few transportation websites available, and those that did exist were rudimentary and lacked many features. He envisioned an interactive website that would allow users to create accounts, compare shipping rates, manage and dispatch shipments, and track them online. No website offering these capabilities existed at the time. Together with a computer programmer friend, he brainstormed and started building a website in 1999. They launched it in May 2000 under the name LogisticsQuote.com, which was the first of its kind. The site became extremely popular and went viral. In 2004, he sold the website to a group of private investors, which marked the beginning of his journey in freight management and technology.
Telesca opened MGN Logistics as a traditional truckload brokerage. The company is the leading freight management and technology solutions provider in the country. Its Transportation Management System, or TMS, is used by many of the country’s top manufacturers and Fortune 500 companies. With all modes of transportation, including LTL, truckload, rail, intermodal, air, ocean, expedited, last-mile, international, and parcel, the system is one of the most comprehensive and technologically advanced systems on the market today. Freight analysis, business intelligence, mode, and pricing optimization, along with sophisticated algorithms, combine to create a powerful but simple-to-use fully digital freight management software. MGN’s fully proprietary TMS easily allows users to manage, analyze, and track every aspect of their freight spend, along with carrier performance.
Business Growth
Business growth has occurred through a combination of acquisitions and organic growth. Since 2007, MGN has acquired several advanced technologies and logistics companies, and Matthew has developed a successful roadmap for each acquisition that has allowed each transaction to be easier and more successful than the previous.
With the company continuing to grow, a new office in Orlando was established in 2009. By heavily reinvesting in unique IT solutions for the transportation space, MGN started to attract more customers with a broader supply chain need, and in November 2013, the company had expanded its offices to include Pennsylvania, Massachusetts, Florida, and the Dominican Republic.
By January 2014, MGN continued its growth by acquiring another logistics firm, Laser Transportation Systems, and expanding its footprint into New Jersey. In July of the same year, MGN Logistics was recognized by INC magazine as one of the fastest-growing private companies, ranking in the top 5000 of all businesses in the United States. In February 2015, MGN acquired Discount Diesel and BuyTruckload.com, web-based freight solutions. In the same year, they acquired the technology assets of a Chicago-based wholesale truckload capacity provider with a unique proprietary pricing aggregator. Then, in September 2018, MGN acquired a leading parcel auditing company with a best-in-class proprietary rating tool.
September of 2021, Telesca once again acquired a niche truckload brokerage based in California, expanding this conglomerate to the west coast. The most recent acquisition, which occurred in October of 2022, was the quickest and most prominent in the company’s history. MGN acquired the top hay exporter in the United States, and Matthew funded the acquisition solely from his personal investments without any outside investors or financing. Telesca stated, “MGN will continue to look for acquisition opportunities. We will continue to innovate and lead the way for transportation and logistics experts.” Today, MGN Logistics is recognized as the leading technology company in the transportation space.
Supportive Work Culture
The significance of company culture cannot be overstated. At MGN, the culture is geared towards empowering employees to explore new avenues and constantly seek better ways of achieving goals. The workforce is highly valued, as the management understands that they play a pivotal role in driving the company’s success. As the primary point of contact with clients, they are responsible for creating a lasting impression. MGN management fosters an environment where its employees can build strong and meaningful relationships with its clients, founded on mutual trust and respect. With a deep sense of responsibility, the team handles clients’ transportation needs as if they were MGN’s own, making well-informed decisions that prioritize their best interests.
A Leader’s Way
Matthew leads by example, demonstrating through his actions as well as his words. He regularly convenes with his executive team to reflect on the previous week, review accomplishments, failures, and identify solutions. This is an integral aspect of his leadership style. While Matthew encourages his executive team to exercise their decision-making abilities, he also ensures they remain accountable for the outcomes.
Matthew takes full responsibility for promoting a positive work culture within the organization. He enjoys engaging with employees on a regular basis and prioritizes their morale. His constant interactions with them not only helps him stay informed about the company’s more intricate operations but also creates a sense of anticipation among the workforce as they eagerly look forward to hearing from him. Telesca was nominated as a top CEO in both 2018 and again in 2019.
Aligning Work Life Balance
Entrepreneurs often struggle to maintain a balance between work and personal life. Fortunately, Matthew is in a favorable position as his executive team has expanded, enabling him to delegate many of the day-to-day responsibilities of the business. This strategic move allows him to stay more focused on the broader picture rather than becoming bogged down in the nitty-gritty details, a common pitfall for many entrepreneurs. Losing sight of the overall management and goals of the business can be a fatal mistake. To be successful, entrepreneurs must learn to strike a balance between the two.
Leading with Conviction
Matthew strongly believes that a successful leader must have exceptional listening skills. The ability to listen and understand the direction in which the company needs to head is crucial to effective leadership. This can only be achieved by actively listening to customers, managers, and employees. Successful leaders have a deep passion for and commitment to their services and products. They believe in what they are doing, and this belief drives them to lead with conviction.
Every business has its ups and downs, and the best leaders understand that they must be the glue that holds things together during challenging times. When customers and employees feel the certainty and confidence emanating from the top, they are more likely to respond positively and work harder towards the company’s goals. Overall, the ability to listen, passion, and commitment to the business, as well as being the glue that holds everything together, are essential attributes of a successful leader.
Advice for Future Visionaries
In today’s technological age, it is easy to be misled into thinking that success can be achieved without much effort and that success is just a few clicks away on Instagram. Unfortunately, many people have fallen into this trap of thinking. However, Matthew has never met a successful entrepreneur who has this mindset. Every successful businessperson understands that true success requires hard work, dedication, effort, and sacrifice. Achieving life-changing success takes time and persistence. Anyone who suggests otherwise either does not understand what it takes to be successful or is trying to sell something.
Matthew’s advice to the next generation of business leaders is to be prepared to work harder and longer than their competitors. He recommends viewing success as a series of small achievements rather than one significant goal. This perspective helps to maintain focus and motivation toward the ultimate goal of success.
Written by Steve Sanchez.
