Business Spotlight with Nick Mastronardi from Polco

Nick Mastronardi, co-founder of Polco, shared his journey from the Air Force Academy to leading data science teams at Amazon, eventually co-founding Polco. Polco focuses on improving public sector decision-making through data-driven surveys. Nick discussed his leadership style, blending positivity with a strong emphasis on data, and the challenges of transitioning from a consultative sales model to a product-led growth strategy. His motivation to start Polco stemmed from witnessing inefficiencies in the public sector, and his experience at Amazon reinforced his belief in the power of data to drive better decisions.

Looking ahead, Nick is focused on expanding Polco’s reach from 400 to 4,000 cities, counties, and state agencies, despite current market shifts prioritizing cash flow over growth. He emphasized the importance of maintaining an entrepreneurial spirit, taking calculated risks, and executing scalable growth strategies. Nick also highlighted the significance of surrounding oneself with the right people and continuously learning, both in business and personal life. His passion for improving public services through data remains at the core of his vision for Polco’s future.

Podcast Transcript:

Mike McKay: All right, welcome back, everybody. I’m Coach Mike, and today, I’m joined by Nick Mastronardi, co-founder of Polco. Polco conducts large-scale surveys for governments and government organizations, helping them communicate more effectively with their constituents. They’ve created something similar to the Bloomberg Terminal, giving access to a wealth of insights. A unique fact about Nick is that he taught at the Air Force Academy, which I find particularly cool since I have a kid in the Air Force. So, Nick, welcome to the show.

Nick Mastronardi: Thanks for having me. I’m excited to be here.

Mike: Great. Tell us a little about your personal story. Where were you born? Where do you live? Hobbies?

Nick: Sure. I was born and raised just outside of Atlanta. I went to Notre Dame, did Air Force ROTC, and was drawn to anything math-related, where I didn’t have to write papers. I studied math and physics, worked at the Air Force weapons lab on air missile and guidance systems, which I loved. My time in the Air Force was short, but they offered to sponsor me for a PhD in economics, despite never having taken an econ course before. I completed my PhD at UT Austin, then taught at the Air Force Academy for five years, where I met my co-founder. During the summers, I worked on some cool projects, including at the Pentagon under Secretary of Defense Gates and at the White House on the Council of Economic Advisors. These experiences made me realize the public sector needed better data and more input from constituents. After leaving the Air Force, I worked at Amazon leading data science teams, but I knew I wanted to help the public sector use data to make better decisions, so I called my old buddy, who was at Google, and we started Polco.

Mike: Why the public sector? Was it because of your experiences?

Nick: Exactly. In the private sector, competition drives innovation and efficiency. But in the public sector, there are monopolies of power, and innovation isn’t always driven by competition. I saw firsthand at Amazon how data can drive big decisions and growth. If we could help the public sector use data to measure progress and set goals, it could make a huge difference.

Mike: That’s interesting. My path is somewhat similar—math, physics, and Army ROTC instead of Air Force. I went in, and they told me to get out because I wasn’t a great rule follower. But I saw the same thing: lots of information, but no data. Smart people making dumb decisions because they didn’t have data. What you’re doing is giving them that view into their data so they can make better decisions. That’s awesome.

Nick: Absolutely. And one quick note on that—if you’re in the public sector, you don’t have the same equity upside as in the private sector. But if you make a decision without data to back it up, any taxpayer can challenge you. Having data justifies your decisions and allows you to move forward.

Mike: So what’s your leadership style?

Nick: Good question. The Army is great at cultivating leaders, probably better than the Air Force. In the Air Force, many officers are solo operators, like pilots, or technical experts, like I was. I never had direct reports as an economist. I’m a fan of decentralized, competitive systems. I’d say my leadership style is positive entrepreneurship. I’m optimistic and give people freedom, but I’m also data-driven. If performance isn’t there, I’ll step in and make changes. So, a mix of optimism and data-mindedness describes how I operate.

Mike: If you’re listening, remember that business decisions need to be data-driven. Sales might be 80% emotion, but running a business has to be 100% logical. So Nick, when did you decide you could start your own thing?

Nick: It wasn’t a clear moment. I just became passionate about improving the public sector through our platform. I had a great job at Amazon, but eventually, someone told me, “Nick, you’ve got to do it yourself.” So I did. We got into an accelerator, and my boss gave me three months to see if we could get customers. By the end of those three months, we had three customers. Now, we have over 400 cities, counties, and agencies using our platform. We’re not optimized yet—there’s a lot to improve—but we’re making it happen.

Mike: Sometimes, everything comes together for an idea at the right time. Looking back, is there anything you would do differently at the start of your career?

Nick: I always volunteered and challenged myself with new opportunities, both in the Air Force and at Amazon. But one area where I lacked experience was sales. In the military, you don’t have a sales function—you tell people to do something, and they do it. So I didn’t get that experience with CRM systems or persistence. Now, I’m learning to be a revenue engineer and drive a sales team. I know what to do, but it’s been a challenge. I wish I had developed those skills earlier in my career.

Mike: Sales is definitely data-driven, despite what people say. If you follow the process, you’ll succeed. What’s a common myth about being a founder, CEO, or owner that you’d like to dispel?

Nick: As a Founder/Executive Operator, you might think the executive is just sitting high up and out of touch, but we’ve had to do everything at some point for the survival of the company. The myth is that executives don’t know what’s going on, but trust me, we’ve been through it all. We’ve earned some battle scars along the way, so there’s respect in that.

Mike: What’s one of the most interesting insights or pieces of advice you’ve learned recently?

Nick: Don’t lose that entrepreneurial spirit. Right now, we’re trying something new—bringing a product-led growth approach to the public sector, which hasn’t been done before. It’s a challenge, but it’s exciting. We’re working on a hybrid model, and while it’s tough, I believe it’s worth it. We’re committed to making it happen.

Mike: Amazon, Walmart, Google—none of them were done before either. You’re in a good spot to innovate. What’s something new you’re interested in learning outside of work?

Nick: It’s been a long time since I read a fiction book. I’d love to read one again. I’m interested in learning about anything, really—history, different subjects. I’m always curious.

Mike: What’s the next big thing for you and your business in the next one to three years?

Nick: The last year has been tough as the market shifted from valuing growth to cash flow. We’re in a huge, underpenetrated market, but investors now care more about cash flow. Our growth depends on capital, but I believe in our product. Our biggest competitor just raised $40 million, so there’s pressure, but I think our efficient and scalable growth model will take us from 400 to 4,000 customers. It’s possible, and we’re ready for it.

Mike: I never prep our guests for this question but what question do you wish I’d asked that I didn’t?

Nick: I don’t really regret missed questions. I like to stay focused on today and look forward.

Mike: Finally, what advice do you have for people considering the greatest game on the planet—business ownership?

Nick: Business is absolutely the best game on the planet. It requires teamwork, execution, and empathy for your customers, making you a better person. But if you’re not passionate about what you’re doing, you need to stress-test that passion. If you’re not willing to treat it like another child in your family, maybe it’s better to join a big organization as an employee. But if you can’t shake the idea, pursue it. It’ll be rewarding and make you a better person.

Mike: Nick Mastronardi, co-founder of Polco, thanks for spending some time with me today. I appreciate the interview.