Michael Hyatt

And I'll tell you a story in a minute, if you want, about my coach talking about leadership and ownership and how it's always about your leadership.

And I'll tell you a story in a minute, if you want, about my coach talking about leadership and ownership and how it's always about your leadership.

Well, I'll tell you the story. This was, I think, in the summer of 2009. So we were beginning to get on the other side of the recession, but there were still a lot of problems. My executive coach came in. She would work with me for a full day every month. So she came in and this was in August of 2009. She said, well, how was July? And I said, ugh, we missed our budget, top line and bottom line.

Well, I'll tell you the story. This was, I think, in the summer of 2009. So we were beginning to get on the other side of the recession, but there were still a lot of problems. My executive coach came in. She would work with me for a full day every month. So she came in and this was in August of 2009. She said, well, how was July? And I said, ugh, we missed our budget, top line and bottom line.

How much? I said, well, about 20%. She said, you're kidding me. She said, you were so confident when I was here before that you were going to make the budget. And I said, I know, I know. But I said, look, foot traffic's down at retail still. The economy's a mess. Consumer confidence is still low. All of our competitors are flailing away in the marketplace and we're really struggling.

How much? I said, well, about 20%. She said, you're kidding me. She said, you were so confident when I was here before that you were going to make the budget. And I said, I know, I know. But I said, look, foot traffic's down at retail still. The economy's a mess. Consumer confidence is still low. All of our competitors are flailing away in the marketplace and we're really struggling.

And it was always about this out there. And she said to me, okay, I hear you. It's a tough market. And by the way, she said to me later, she said, it's kind of always a tough market. You know, there's always factors that are against you. And so she said, but I want to ask you a hard question. And I said, okay, shoot. She said, what was it about your leadership that led to this result last month?

And it was always about this out there. And she said to me, okay, I hear you. It's a tough market. And by the way, she said to me later, she said, it's kind of always a tough market. You know, there's always factors that are against you. And so she said, but I want to ask you a hard question. And I said, okay, shoot. She said, what was it about your leadership that led to this result last month?

That ticked me off. And I said to her, I said, look, I just told you. This has nothing to do with my leadership. It has everything to do with the environment. And she said, okay. She said, but what was it about your leadership that created this result? And I said, I just told you. And it's getting a little heated. And she said, well, let me ask the question another way.

That ticked me off. And I said to her, I said, look, I just told you. This has nothing to do with my leadership. It has everything to do with the environment. And she said, okay. She said, but what was it about your leadership that created this result? And I said, I just told you. And it's getting a little heated. And she said, well, let me ask the question another way.

If you could go back 30 days and lead differently, what would you have done differently? And I said, well, that's easy. I said, I would have met with the sales staff for a daily standup meeting just to get a sense of what was happening in the marketplace. She said, what else?

If you could go back 30 days and lead differently, what would you have done differently? And I said, well, that's easy. I said, I would have met with the sales staff for a daily standup meeting just to get a sense of what was happening in the marketplace. She said, what else?

And I said, well, I would have gone on that sales call to Walmart last month because I'm convinced that if I had, my presence could have made a difference. They would have bought more stuff. What else? I listed off three or four things. So she kind of smiled and she said, so what you're telling me is that it was about your leadership. And she said, I have good news and bad news.

And I said, well, I would have gone on that sales call to Walmart last month because I'm convinced that if I had, my presence could have made a difference. They would have bought more stuff. What else? I listed off three or four things. So she kind of smiled and she said, so what you're telling me is that it was about your leadership. And she said, I have good news and bad news.

The bad news is it's your fault. You don't have to beat yourself up about it. But it was your fault. But the good news is this is now in your control. As long as it's out there. It's not under your control. You can't fix it. You can't fix the economy. You can't suddenly flip a switch and change consumer confidence, but you can change the things you have control over and those will be enough.

The bad news is it's your fault. You don't have to beat yourself up about it. But it was your fault. But the good news is this is now in your control. As long as it's out there. It's not under your control. You can't fix it. You can't fix the economy. You can't suddenly flip a switch and change consumer confidence, but you can change the things you have control over and those will be enough.

That was like the best leadership lesson I ever got.

That was like the best leadership lesson I ever got.

The inciting event was that in 2011, we sold the company to HarperCollins. And by that time, I'd already picked my successor and I had moved from being the CEO to now I was the chairman of the board. And I stayed on for a year after that. But I thought, this is my opportunity. Rupert Murdoch wasn't going anywhere, so they didn't need a chairman. So I was basically on my way out. And that was good.

The inciting event was that in 2011, we sold the company to HarperCollins. And by that time, I'd already picked my successor and I had moved from being the CEO to now I was the chairman of the board. And I stayed on for a year after that. But I thought, this is my opportunity. Rupert Murdoch wasn't going anywhere, so they didn't need a chairman. So I was basically on my way out. And that was good.