Victor Maggitti Jr. started Vimco, Inc. with his father in 1960, and at 89 years old, he is still a vital part of the company as the owner and president. Relying on consistency as a key element of success, Maggitti comes to work every day in a dress shirt, tie and jacket. He also runs four miles on his treadmill every day to keep his mind and body in shape.
“I keep doing what I have done for the last 64 years,” said Maggitti.
Vimco, Inc. sells and rents concrete equipment and forms, adding new inventory to rent to current contractors and partners. Over the last two years, Maggitti is most proud of being able to push the business from an investment of $5.6 million to a turnaround of $13 million.
When it comes to solving daily problems, Maggitti said that his process is to collaborate with employees. “Stay in touch and personally talk with the person involved in the problem and try to solve the issue personally,” he said.
As a leader, Maggitti, a Hall of Fame Titan 100 inductee, said it’s essential to look daily at SAES and gross profits. “Successful leaders stay in touch with customers, vendors, banks and financials every month,” he said.
“I continue to mentor my employees every day. I don’t call them employees but friends,” Maggitti said. “It is how I treat my friends that makes them want to come to Vimco every day. I continue to talk with them daily, asking and answering questions. These items are not just Vimco-related, but also personal. I continue to encourage them to work every day and exercise every day. I also invite them to sporting and special events with their families. All of that is why 20 friends have been with Vimco (for) over 25 years.”
He also believes in making the most of your time. “Time is most important,” said Maggitti. “Although it’s a risk for your family when serving as a leader when you are home, spend time when you’re not in the office – go to a baseball, football or basketball game.”
Balancing family and work has been Maggitti’s specialty throughout his career, which is why he wants his legacy to be a lesson for his children. “Continue to treat your family as I have treated you and your family,” he said. “Continue to go to church and always involve yourself with family – just stay involved.”
