14 questions for entrepreneur Michel Staelens, CEO of Italmaster Belgium NV

Who is Michel Staelens?

I am 42 years old, married to Sophie and father of Maurice (7y) and César (4y). I live in Meise and was born and raised in Tielt in West Flanders. After my Masters in Economics, I obtained an Executive MBA at the EDHEC Business School in Roubaix, France.

Why did you become an entrepreneur?

Under the impulse of my brother-in-law, entrepreneur Frederick Pollet, a healthy ambition grew to further develop an existing company and activity in which I could use my abilities and ideas, and where I could make a difference on a daily basis.

Can you tell us something about Italmaster?

Italmaster is a flexible partner in the development, production and sale of masterbatches, monopigments & additives. It is an SME with a focus on service, flexibility. In terms of speed and flexibility, we are by far the best partner on the market. We find it important to be a pleasant company with short and direct communication lines. The team consists of a team of loyal, relatively young employees where family values are still central.

Why did you choose to acquire Italmaster in 2018?

Italmaster had the perfect company profile that myself and Frederick had on our radar: a financially healthy manufacturing company with a technical product where there is still room for further commercial development. An SME with a well-maintained machine park. Italmaster complied with these conditions.

What are the biggest challenges in these difficult times?

Managing the higher production and labor costs nowadays demands a lot of attention, as does motivating and finding suitable personnel. Furthermore, I think it is important to be surrounded by good and, above all, reliable partners in all areas. A great deal of attention is also paid to securing key personnel positions. The greatest priority and challenge lies in ensuring healthy growth for the long term.

With which interventions do you want to give Italmaster a bright future?

The main goal is to ensure a healthy growth in the long term. Investing in a new generation extrusion line would mean the next step by broadening our product portfolio. We could therefore produce masterbatch for the more technical polymers ourselves instead of only trading them.

What goal do you want to achieve in the coming year?

If the general macroeconomic situation is going well, we would like to repeat the turnover of 2021 in 2023, but with an even better margin.

Which innovations would you like to implement?

The innovations in our sector are mainly pushed by the bigger guys. Italmaster picks them up when the concrete demand comes from our customers. We are therefore more likely to be innovation follower, but due to our fast decision-making power, we can implement chosen innovations relatively quickly, for the benefit of our customers.

How do you distinguish yourself from competitors?

Italmaster is a real service company. We unburden our customers as much as possible and are by far the best partner in terms of speed of development and production in our focus markets in Belgium, the Netherlands and Northern France.

What is the biggest advantage of being an entrepreneur for you?

Independence is a big plus. I get satisfaction from being able to move and realize things by having the right to make decisions myself. The fact that I dared to take the step into entrepreneurship is my most important personal victory.

What is a minus?

If you stand alone as an entrepreneur, you usually have to absorb the setbacks by yourself, successes are often claimed by many. Fortunately, I always have backup and advice from the co-partners in the Octopus Capital group and from my family and relatives who are entrepreneurial themselves.

What do you do in your spare time?

I am a member of the “Ronde Tafel” service club. I also like to meet up with friends for dinner. I like a physical activity, such as walking and mountain biking or going out with my young, active family.

What do you, as an entrepreneur, want to mean to others?

I would like to inspire other potential entrepreneurs and make it clear to them that if you are willing to work hard and pay attention to making some well-considered choices, you can make a visible difference for yourself and others.

What tip do you have for future entrepreneurs?

Work hard and think long term. Do not sit on your throne, but regularly visit the workplace, between your people. Regularly question matters within your company and remain critical for yourself. Don't give up at the first setback, because those setbacks are part of it.

Want to know more about Italmaster? You're welcome to visit their website: www.italmaster.be