Entrepreneurs Will Save the World by Michael Hyatt
Entrepreneurs Will Save the World is well-written and, for the most part, skips to the point. Its biggest issue is that the intended audience seems to shift throughout the book, going from a general informational text to something directed at current and potential entrepreneurs and back again. This muddies the waters of both what the reader is supposed to rake from the book and what they should be looking forward to. Overall, however, the book was useful and quick, with actionable information found on pages 40-54, 60-61, 81-82, 83, 84, 89, 92, and 110-114.
Entrepreneurs Will Save the World is 30% about how entrepreneurs contribute to the economy of the U.S.A. in specific and the world in general. This is where the title comes from, as Hyatt argues that entrepreneurs are the movers and builders of economic growth and innovation. The other 70% of the book is about how to be and handle being an entrepreneur. It’s nothing groundbreaking, but it is honest and encouraging, with an emphasis on the fact that over half the battle is getting up and trying again. My favorite part of the book was actually an appendix at the end detailing how to have a healthy relationship with an entrepreneur, as it felt both unique and genuinely helpful.
Pages 40-54 detail what Hyatt refers to as the eight traits of an entrepreneurial mindset. Not all of the pages are useful, but his definitions and descriptions of the eight traits do span across them. The eight traits are openness, ownership, grayscale thinking, risk tolerance, resilience, resourcefulness, patience, and belief. Page 40 defines openness as someone who is open to both problems and solutions. They aren’t simply searching for answers, but more problems to solve.
Page 41 describes ownership as taking initiative (i.e., seeing a problem, then taking it on as your own rather than leaving it for someone else to fix). Page 42 talks about grayscale thinking, which is making indirect connections and utilizing creative thinking. Page 45 goes into risk tolerance, which can be summed up in one well-placed sentence: “The willingness to shoulder risk and endure failure is directly connected to your ability to succeed.
Page 46 talks about resilience, which is your ability to rebound from failure. It splits resilience into intellectual resilience (e.g., sticking with a problem you can’t solve) versus emotional resilience (e.g., soldiering on when rejected), and emphasizes the importance of entrepreneurs having both. Page 49 defines resourcefulness as being able to utilize the resources on-hand. Page 51 describes patience as “sticking with a problem long enough to solve it,” and page 54 wraps the section up by saying that belief in both yourself and your solution has to be the driving force behind everything else.
Pages 60-61 pose two questions. What does your customer want, and what’s keeping them from getting it? According to Hyatt, if you can answer and present a solution to the second question, you can profit. From there, we jump over to 81-82, where Hyatt encourages entrepreneurs to “take accurate stock of reality.” Even if a situation is frightening, hiding from or ignoring it won’t fix anything. It’s only by accepting the harsh reality and facing it head-on that you’ll prosper.
Similarly, page 83 urges you recognize that you don’t have control over what’s happening in the world, but you do have control over how you think about it and react. By identifying your emotions as constructive, fearful, empowering, or destructive, you can reorient yourself toward a more productive mindset. In Hyatt’s words, “There needs to be a balance between staying informed and protecting your mental bandwidth.”
On page 84, Hyatt focuses on the need to be adaptive. He says, “Vision is the what; strategy is the how. We want to stay committed to the vision but flexible on our strategy.”
Page 89 houses what I believe to be the most important sentence in the book. “What does this crisis make possible?” The question alone shifts mindsets from panicking to productive, and any time entrepreneurs find themselves in a difficult situation, asking this question could make a world of difference. Even in the worst of times, there is opportunity to be found.
92 states that doing something early and without full confidence is better than doing nothing. It encourages potential entrepreneurs to do the best they can with what they have.
Finally, pages 110-114 contain Appendix 2: How to Stay Happily Married as an Entrepreneur. It contains five “gifts” an entrepreneur can give to their significant other and vice versa. The entrepreneur can (and should) honor their significant other by giving priority to their priorities and using their words to praise and uplift. They can be aware of the material and non-material contributions their significant other provides, and they can include their significant other in the business. Discussing business decisions and even just talking through ideas creates intimacy and builds trust. The entrepreneur can also trust that their significant other Is there to help, keeping in mind that they don’t have to bear the weight of their venture alone, and communicate their own commitment to their significant other (e.g., “We’re in this together, no matter what.”).
On the opposite end, the significant other can (and should) offer their belief. Entrepreneurs often struggle with fear and doubt, and hearing someone say they have what it takes means the world. Significant others can also offer appreciation for what the entrepreneur is trying to do and trying to provide and offer words of affirmation. Remind them that they are loved, even when times get hard. The fourth gift is perspective, as it’s easy for entrepreneurs to lose sight of the forest for the trees, and the final gift is commitment. The significant other isn’t the only one who needs to hear that they’re in it together, no matter what. The entrepreneur needs it, too.
And now, as far as actionable information goes, you’ve read Entrepreneurs Will Save the World. If you liked this and found it useful, please share it on your socials and with your friends. You can sign up for my newsletter by scrolling down. If you have any books you’d like to see on Too Busy for Books, you can contact me here. I’d love to hear your recommendations!
Thanks for reading,
–Jack