Thinking Like Mike Michalowicz: A Deep Dive into Success

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In this podcast, Mike Michalowicz discusses the importance of valuing individual goals within a team, advocating for leaders to understand and support these personal visions to foster collective success. He proposes innovative hiring methods that prioritize potential, suggesting educational initiatives as a way to identify and develop talent, mirroring tactics used in sports scouting. 

Michalowicz highlights the positive impact of his book “All In” on businesses and introduces a forthcoming workbook for his “Profit First” methodology to assist entrepreneurs in proper implementation.

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Peak at the episode

[00:00:00] Mike: All those visions are critical to each individual that sits, takes that claim and they're of equal importance, someone that wants to overcome a disease or someone that wants to play guitar or someone that wants to achieve a new revenue target. They're all equally important because it's that person's desires for themselves.

[00:00:19] So my job as a leader is first of all, to recognise all the visions. Secondly, to realize they're all on this equal plane. Thirdly, can we set up a way that we collectively achieve them?

[00:00:29] Having a blast, gonna get it on the Bruce Lee podcast. Bruce Lee likes Bruce Lee cause it's so hard and the T is loose leaf.

[00:00:35] Making up those rhymes, don't write it, just do it loosely. If you want my respect, you better put it directly. Transcribed Here are the words in the podcast, that's what comes next.

About the episode

[00:00:45] Mark: Mr. Mike Michalowicz is somebody who has influenced me and Boostly in many ways that he will never, ever know. I've had the pleasure of meeting him at the STI Wealth event a year, a couple of years back, and, uh, I followed him, podcasts, uh, books, you name it, probably watched every interview that Mike Michalowicz has ever done, and I'm very fortunate.

[00:01:07] That I'm able to get him on the podcast. Not once, not twice, but thrice. And this time on his hat trick appearance, we talked about the all-in book. I got hold of the pre-release, uh, number 52 of 250 and, uh, absolutely loved it. We've implemented a lot of it at Boostly. Um, it's currently ranking number one on Amazon.

[00:01:29] There's a, there's a big promo around it and, you know, you go on any good podcast and you'll see his face popping up and yeah, we're one of the lucky ones to get him for, uh, for the Boostly podcast. Stick to the very end cause he gives you a domain and a website to go to for some special stuff.

[00:01:42] And he gave a sneak peek at the very, very end. And you're going to have to watch all the way through or listen all the way through to get this of what his next book is going to be. The book is All In. This is a book we're going to be discussing. I was, uh, one of the very lucky people to get hold of the, Uh, what do you call it?

[00:01:58] Like the manuscript?

[00:01:59] Mike: Yeah. It's a manuscript pre-release that you have there.

[00:02:01] Mark: Yeah. So I have the number 52,

[00:02:03] Mike: which was out of 250 total. So thanks for getting that.

[00:02:07] Mark: Uh, no, I loved it. Yeah, absolutely. Good. Um, it just, you keep, you seem to bring books out, like from a selfish point of view, just when I need them the most,

[00:02:16] Mike: good, you're the guy I want to serve.

[00:02:19] So that's awesome. So yeah,

[00:02:21] Mark: we've basically, we've just passed 50 members of the team. Uh, I'm approaching 60 and, you know, uh, Clockwork was, it was a big influence and I did the program run like Clockwork with, with Adrian and the team, and that was phenomenal. And then I came across other, other books, uh, like Traction and, and all of those, which are just, it's just all come together in the right place, but I felt like, um, something just was missing.

Applying the concept from the book

[00:02:45] And this was just what was there. There are two things that really sort of hit me. So one of them was in the book, you talk about the importance of the all-in assessment. general interest and commitment. So can you share how this concept can be applied in hiring and personal development and ensuring one's commitment to their business and goals and basically?

[00:03:06] Mike: vision?

[00:03:08] Yeah. Yeah. I'll lean into one component of a, which I mentioned, but it's very important. It's the analysis of someone's ability. And I argue there are three forms of ability. Foundationally, we all have experiential abilities or talents. And what these are is what I've done in the past is indicative of what I can do in the future.

[00:03:29] Then we have what's called innate ability or innate talent. This is often analyzed through tools like the Myers Briggs Enneagram or StrengthsFinder. It shows our wiring, our natural tendencies. And most organizations just look experientially. We run interviews. Uh, some not enough doing this analysis of innate talent?

[00:03:47] We all should be doing it. But the big one, the 80 per cent that almost no one is doing, which is the biggest indicator of how someone will perform is the best indicator of how they'll integrate their firm. Um, the best indicator of how they'll perform in the future is their potential. And I know that's obvious, but if we can identify someone's potential, And they have massive potential in the role that we need to be filled.

[00:04:10] Gosh, you're going to crush it. So then the question that comes out of that is how do you find someone's potential? And it's really easy. The potential always reveals itself in three distinct stages. Someone who has potential will always first be curious. They may not even know they have potential. They're just like, Oh, I've always wanted to pick up a guitar.

[00:04:29] I'll try to pick up the guitar. Then the next level is. Desire desires. Like, I want to keep doing this. I want to learn more. This is interesting. It's engaging for some reason. I can't put this down and thirst is we just can't quit it at all. Like, this is who I am. I must do this. And the reason I use the guitar as an example and say, you and I, we go back to the 80s.

[00:04:52] We're like, we're going to form the coolest 80s rock band. Um, uh, maybe, neither of us plays guitar well enough. Maybe we can do the backing-up strumming, but we can't lead. We need Eddie Van Halen. You know, if he was still around, it would be absurd. And this is what most businesses are doing. Are saying, well, let's just hire Eddie Van Halen.

[00:05:09] If we call it Eddie Van Halen said, Hey, you want to join our band? He would laugh at us. He'd say, I already got my band. I'm making millions and millions. So, uh, sorry, I'm out. But if we found Eddie, when he first revealed potential, that's when he was 12 years old, he may have joined the band and he was just discovering guitars.

[00:05:26] The question of course is how do you find Eddie when he's Eddie before he becomes the real Eddie and how do you know he's going to be the real Eddie? Well, here's how you do it. You do workshops. So what you and I could do, Mark, is we say, Hey, we're putting in an educational class for up-and-coming guitarists and maybe you and I don't even play guitar.

[00:05:42] We just hired a guitarist to teach it. But we invite kids between 10 and 15 years old. And we say, come on in and learn guitar. Our job then is to educate everyone. And in the process, observe for curiosity, desire, and thirst. Eddie will differentiate himself pretty early on because he's the one who's asking the most, doing the most experimenting and trying.

[00:06:03] And he's the one who's coming back with bloody fingers because he can't stop it. He's thirsty. That's the guy who's going to crush it. So what we can do for our organizations is run these workshops. What I mean by this is. I want to hire and pick a random position. I want to hire a salesperson, um, to sell my real estate or whatever.

[00:06:22] Okay. What I do is run a course saying, learn how to sell real estate and the people who are curious about this will show up. I then teach the process and look for people who have the desire to ask those questions and the thirst can't quit it. Maybe I need someone more advanced, maybe I need someone that already has skills.

[00:06:39] Then I put on an advanced course and I have prerequisites saying, I have to have five years of real estate selling experience, learn, um, the triad, uh, ladder financial strategy for real estate investors, or whatever it is, like, I, of course, made that up. You will get people in that are looking to grow, because the top candidates are always looking to expand themselves.

[00:07:01] The best talent is looking to get better. Interestingly, the best people are not necessarily looking for a job. They're not looking on the platform du jour saying, I should look for a job now, but they are doing say, I want to get better at the job I already have. Those are people with the most potential. So put on education and you'll attract people that are looking to get better.

[00:07:19] Those are the A players typically. Then you go through this vetting process and cherry-pick. The last thing I want to share on this is cause I'm so, as you can tell, passionate about this, this isn't just like a theory. This is how the entire sports industry is run in the U S sports is over half a trillion dollars, 500 billion of sports revenues generated, and they don't run interviews you get on the field or they observe, they have camps where you're learning skills and they're cherry-picking the athletes.

[00:07:45] Businesses are doing this. A big business here in the U. S. is Home Depot and Home Depot runs these workshops where you can build a birdhouse. So, so clients come down, customers at Home Depot and you build a birdhouse. You're having a pleasurable experience learning a new skill at Home Depot, but at the same time, they have one employee who's observing participation.

[00:08:05] Who has the most desire? Who's the most thirst? Who's asking other parents what to do or teaching? Who's asking the most questions? Who comes earliest and stays the latest? Who's really into it? They tap on the shoulder and say, You got the talents that work here at Home Depot. We'd love to have you consider a position here.

[00:08:19] It's a recruiting platform. So if you want the best educate them to be the best and you'll find the best.

[00:08:27] Mark: You've just, uh, laid out the framework for any Boostly member who's watching this. And you get a tap on the shoulder from me in a couple of Boostly? You'll just,

[00:08:36] Mike: you're doing it. Here's the beautiful thing.

[00:08:40] The 60 or 70 people you have Boosley, they're all getting better. So everyone wins in traditional interviewing. If I'm looking to hire someone or whatever, I bring people through and the vast majority of candidates, I say, not a fit. Sorry. And they go home and say, I don't know. I didn't get the job. They didn't like me.

[00:08:58] In this workshop environment, everyone comes through and everyone's improving. Everyone gets better. And then I get a cherry pick, who's the best fit. And I can observe them in action. Do they have the behaviours we need? Are they culturally fit? And so forth, but everyone comes out better.

The deep dive interview

[00:09:12] Mark: The next one I wanted to talk about was the deep dive interview.

[00:09:15] So you advise candidates, uh, about asking about their personal and, uh, professional future. So how has this approach influenced your personal business decisions and shaped the way you envision future projects or

[00:09:29] Mike: ventures? Yeah, so I asked my team as I recruit and bring people on board in particular about their vision.

[00:09:37] Um, what I realized, Mark, is that the job of a leader of an organization. Is not to set a corporate vision. I always thought it was like, what's the corporate vision? The job of a leader is to set the collective vision. What's the collective vision? The collective vision is an understanding of what everyone's looking to accomplish in their personal lives.

[00:09:58] Because we all have a vision for ourselves. In fact. What I've discovered is the corporate vision is not the corporate vision. It's the vision of the leader or the owner. This is what I feel achieves accomplishment for us. If we hit this revenue target or so and so, I feel some sense of accomplishment.

[00:10:14] Maybe I get some direct benefit from it. But my team, may not feel associated with that. And so what happens is why these leaders stick down this flag and say, that's where we're marching. Let's go. Is everyone as excited as me? And they may feign it and say, let's go. But why? And everyone's not motivated by the same thing with my team here.

[00:10:32] Um, I ask people about their visions not only when they come on board, but every quarter we sit down and say, tell us about your vision for your life. We have one person here who's overcome cancer. But it's always a concern. She's like, I want to be six years cancer-free. There's another person, um, who wants to spend more time with their family.

[00:10:51] Another person is looking to move from the house they live into a new home. Another person who's just looking to learn Spanish. Someone wants to play the guitar. All those visions are absolutely important to each individual that stakes that claim and they're of equal importance. Someone who wants to overcome a disease someone who wants to play guitar or someone who wants to achieve a new revenue target They're all equally important because of that person's desires for themselves.

[00:11:18] So my job as a leader is first of all, recognize what all the visions are. Secondly, to realize they're all on this equal plane. Thirdly, can we set up a way that we collectively achieve them? I want to be clear about this. It is not a wish foundation. I don't go out and say, here's your house and here's your guitar lessons.

[00:11:34] I simply say that vision is important to you. Are you marching toward it? And as you do the work that we need you to do here in this organization, Are, is it supporting you and moving towards your goal? That clarity is now magnetic. Moving towards some arbitrary flag in the sand that someone else set out there is not appealing.

[00:11:50] But the flag you set, I want to march toward it. So my job is to line all those flags so we're all marching in that same direction.

Where can people go?

[00:11:57] Mark: Mr. Mike Mcchalowicz, thank you very much. If, um, if, uh, if there are any domains, you know, I saw all in, by Mike, is there anything like that going on? Where do you want people to go after they've got the book?

[00:12:06] Are you, are you, uh, any resources?

[00:12:09] Mike: Where can people go? Yeah, if you want to go to one place, I guess the starting point would be Mike's motorbike as in the motorcycle dot com. It ain't my name, but no one can spell my name. So Mike's motorbike is a nickname I have. All the books are there. You can find your starting point.

[00:12:24] I hope it is all in, but you can find all the other books and resources there too. And,

[00:12:29] Mark: uh, you always seem to be working on the next book, this book. You seem to be working on it for quite a few years to get to this point. Have you got an idea of what the next one is going to be? Have you? Yeah, I think

[00:12:38] Mike: so.

[00:12:38] It about five minutes before, uh, we went live here recording, I got an email from my publisher. It's going to be a profit-first workbook. And, uh, The challenge that many entrepreneurs have, is they read profit first and are implementing it wrong. They need the help of a prop first professional.

[00:12:55] So I'm creating a workbook that they can use in conjunction with an expert, um, to navigate and diagnose their business and implement it. Uh, as always,

[00:13:05] Mark: Mike, we, really, really appreciate you and the time that you give up, uh, and all the cool stuff that you do. So thank you very much.

[00:13:11] Everybody go and grab his book and, uh, we will hopefully see you all again very soon. Thank you, mate. Bum, bum, bum. Having a blast.

[00:13:18] Mike: Gonna get it on the Boosley podcast. Bosley is like Bruce Lee, cause it's so hard and the T is loose. Making up those rhymes, don't write it, just do it loosely.