Michael Hyatt

A few years later, we would face the Great Recession. And we were fighting for our lives and all of that and trying to keep my boundaries in place and all of that. One of the most helpful pieces of advice that I got, though, is on the day I became the CEO of the company, I got a call from John Maxwell. I mentioned him before. And he's a good friend.

A few years later, we would face the Great Recession. And we were fighting for our lives and all of that and trying to keep my boundaries in place and all of that. One of the most helpful pieces of advice that I got, though, is on the day I became the CEO of the company, I got a call from John Maxwell. I mentioned him before. And he's a good friend.

And he said, look, first of all, congratulations. But he said, you've heard that it's lonely at the top. And I said, yep. And I just figured that goes with the territory. And he said, I want you to understand something. And he said, I want you to listen to me. He's very direct that way. He said, that's a choice.

And he said, look, first of all, congratulations. But he said, you've heard that it's lonely at the top. And I said, yep. And I just figured that goes with the territory. And he said, I want you to understand something. And he said, I want you to listen to me. He's very direct that way. He said, that's a choice.

Well, that kind of rocked my world because basically he was saying that I didn't have to be lonely at the top. And in the next couple of weeks, I reached out to two other public company CEOs in Nashville and one at Tractor Supply and the other one at a parking company. It was also public. And we started to get it together once a quarter.

Well, that kind of rocked my world because basically he was saying that I didn't have to be lonely at the top. And in the next couple of weeks, I reached out to two other public company CEOs in Nashville and one at Tractor Supply and the other one at a parking company. It was also public. And we started to get it together once a quarter.

And the whole premise of it is we had lunch and then we spent the afternoon together. We had a different topic every time. And it was a place where we could be ourselves and really share vulnerably the challenges we were facing that we couldn't share with the board and we couldn't share with our team. And that was my first experience.

And the whole premise of it is we had lunch and then we spent the afternoon together. We had a different topic every time. And it was a place where we could be ourselves and really share vulnerably the challenges we were facing that we couldn't share with the board and we couldn't share with our team. And that was my first experience.

I didn't have the language for this at that time, but that was my first experience of a mastermind. I think that part of success has to be a team sport. Get a coach if you want to perform at the highest level. Join a mastermind. You need the accountability. You need a safe space where you can just let it all out. And I think that was critical for me.

I didn't have the language for this at that time, but that was my first experience of a mastermind. I think that part of success has to be a team sport. Get a coach if you want to perform at the highest level. Join a mastermind. You need the accountability. You need a safe space where you can just let it all out. And I think that was critical for me.

You know, I can remember I was in New York City. We were in the office of Wells Fargo because they were an investor in the private equity company that had acquired us. And so we were meeting with them, but all the meetings were canceled that day. Everybody knew, like, this is a big storm. And I was sitting there in the basement of Wells Fargo. All my meetings had been canceled.

You know, I can remember I was in New York City. We were in the office of Wells Fargo because they were an investor in the private equity company that had acquired us. And so we were meeting with them, but all the meetings were canceled that day. Everybody knew, like, this is a big storm. And I was sitting there in the basement of Wells Fargo. All my meetings had been canceled.

And I was looking at this painting they had on a wall that was this ship that was going through this incredible storm. And I thought, wow, this, I think, is prophetic for what we're about to go through. Of course, none of us had any idea. And so we're sitting there not knowing what we're about to enter. And at first, you know, it's kind of like, is it us or is it the environment?

And I was looking at this painting they had on a wall that was this ship that was going through this incredible storm. And I thought, wow, this, I think, is prophetic for what we're about to go through. Of course, none of us had any idea. And so we're sitting there not knowing what we're about to enter. And at first, you know, it's kind of like, is it us or is it the environment?

And I can remember the chairman of my board was very upset at one point because our sales were slipping. In fact, they fell 20% in one year that first year, which is catastrophic for a company of that size. We had to make some cuts, had to lay off a lot of people, all that stuff, which was very, very painful. But we had no idea what was coming.

And I can remember the chairman of my board was very upset at one point because our sales were slipping. In fact, they fell 20% in one year that first year, which is catastrophic for a company of that size. We had to make some cuts, had to lay off a lot of people, all that stuff, which was very, very painful. But we had no idea what was coming.

And the chairman of my board was of the mindset initially that it was us. And we'd had this seven-year run prior to them acquiring us where it was just up and to the right. Shareholder value was growing. Everything was increasing, revenues, profit. And so I remember telling him one time, I said, look,

And the chairman of my board was of the mindset initially that it was us. And we'd had this seven-year run prior to them acquiring us where it was just up and to the right. Shareholder value was growing. Everything was increasing, revenues, profit. And so I remember telling him one time, I said, look,

The same idiots that are trying to run the company now were the same idiots that for seven years had this crazy run. I think it's something other than us. I mean, certainly we're making mistakes and there's things we could do better, but something's happening systemically in the environment. And, you know, that didn't leave us an excuse.

The same idiots that are trying to run the company now were the same idiots that for seven years had this crazy run. I think it's something other than us. I mean, certainly we're making mistakes and there's things we could do better, but something's happening systemically in the environment. And, you know, that didn't leave us an excuse.