Tech entrepreneur Michael Hyatt recently acquired a majority stake in the enterprise cybersecurity firm, DataStealth, which helps large enterprises protect their data. A successful tech entrepreneur turned investor, Michael has previously built, scaled, sold, and exited two tech firms with deals totaling more than $1 billion. DataStealth marks a return to operations for Michael with him believing cybersecurity is his “next big thing”.
With this big move on the horizon, Micheal recently reflected on his leadership philosophy that has fueled his entrepreneurial success. He calls it a “winning” mindset and credits it as his catalyst for growth and success.
Micheal details this philosophy in his keynote “Business Unplanned: Unleashing the Power of a Growth Mindset”. He draws on his considerable experience to share valuable “in the field” insight into how leaders can harness creativity, knowledge, and adaptability to drive business success, especially in the face of exponential change.
Read his advice below and contact us to learn more about Michael and how he equips audiences with the strategies and mindsets needed to succeed in an ever-shifting business landscape.
Business Unplanned: Unleashing the Power of a Growth Mindset
In today’s fast-paced world where technological advancements and artificial intelligence are reshaping industries and markets, embracing change is no longer optional — it’s essential for survival and growth.
I have been in the tech world for 25 years and have seen several crises come and go. I can assure you that history doesn’t really repeat itself, but it does have a pattern: winners win. Being a winner in business means having the courage to take a leap in order to move forward. Easier said than done — it’s hard to make changes when sales are good, and you’re focused on making the current quarter happen. But, the truth is revenue is often a lagging indicator with many companies seeing the top before the big ride down.
Long-term success requires a mindset shift, one that moves away from the confines of a linear trajectory and embraces change and disruption for what it is — an opportunity.
With AI on the rise, this is your opportunity. The first thing to understand is that yes, AI is coming to take your jobs, just as tech has always done since the late 1700’s when the invention of the steam engine sparked the industrial revolution. So, in the face of sudden “exponential” change, what do winning leaders do? Unleash the power of a growth mindset.
The Transformative Power of a Growth Mindset
A growth mindset is the foundation of success in today’s dynamic business landscape. Individuals and organizations that view challenges as opportunities to learn and grow are more likely to thrive. A growth mindset fosters resilience, creativity, and a willingness to take calculated risks. By shifting the focus from the fear of failure to the joy of learning and improvement, business leaders can unleash their true potential.
Thomas Edison’s relentless pursuit of the electric light bulb is a classic example of a growth mindset. Despite facing numerous failures, he viewed each as a step closer to success. Similarly, Jeff Bezos’ risk-taking and experimentation with new ideas fueled Amazon’s growth from an online bookstore to a global e-commerce giant.
So, how do you unleash a growth mindset?
1. Accept that hard (and fast!) change is coming — and that hope isn’t a strategy.
Throughout history, numerous businesses have faced the dilemma of innovation versus tradition. Kodak’s reluctance to embrace digital photography in the 1970s and 1980s, despite inventing the first digital camera, is a well-known example of a company failing to adapt. On the other hand, Apple successfully transformed itself from a computer manufacturer into a trailblazing innovator by introducing revolutionary products like the iPod, iPhone, and iPad while preserving its design-centric approach.
This first thing “winners” in business do is embrace innovation while safeguarding tradition. As markets evolve at an unprecedented pace, companies must adapt to stay relevant. However, abandoning traditional practices entirely can lead to a loss of identity and customer loyalty. So be an Apple, and embrace innovation while maintaining what makes you, you.
2. Know your core values and accept failure as an option.
You can’t harness creativity, knowledge, and adaptability without being open to failure. The Wright brothers’ and their first aircraft in 1903 is a testament to the power of creativity, knowledge, and adaptability. Their willingness to experiment, learn from failure, and adapt their designs paved the way for modern aviation.
The combination of creativity, knowledge, and adaptability can be a game-changer for businesses. Together, they foster a culture of continuous learning and experimentation that encourages employees to think outside the box. It also helps businesses stay ahead of the competition by being adaptable to changing market demands.
On top of this, having established core values keeps your team united throughout change. Companies that flip flop on a whim without reason almost always lose. Could Coca-Cola make bicycles? Yes, but should they? No. You can evolve without losing sight of who you are at your core. This is your unique competitive advantage.
3. Embrace entrepreneurial thinking to remain agile.
In the early 2000s, Netflix was just a DVD rental service that recognized the potential of online streaming technology. No one listened to them, but they understood one thing that others didn’t — the rate of change when it comes to tech and this allowed them to get way ahead of everyone else. They were so focused on streaming that they separated out the streaming business from the mail order DVDs so they were not mixed (diluted!) at all. Instead of remaining complacent with their initial success, they embraced an entrepreneurial mindset and transformed their business model to become today’s leading entertainment streaming platform worldwide.
Overall, by striking a balance between innovation and tradition, embracing a growth mindset, fostering entrepreneurial thinking, and harnessing creativity, knowledge, and adaptability, businesses can unleash their full potential and thrive amidst exponential change. As history has shown us, those who are willing to embrace new possibilities and challenges are the ones who will leave an indelible mark on the world of business.
As a seasoned business leader, Michael Hyatt equips audiences with the strategies and mindsets needed to become catalysts for growth and success in an ever-shifting business landscape.
Contact us to learn more about Michael and how to book him for your next event.
