#132: Michael Walrath, CEO of Yext – Build what’s missing

How Leaders Lead with David Novak

David Novak Leadership

Entrepreneurship, Business, Management

4.8 • 596 Ratings

🗓️ 27 April 2023

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s guest is Michael Walrath, Chairman and CEO of Yext, and a remarkable entrepreneur. In three years, he built a $35 million company called Right Media – and then sold it to Yahoo for almost $800 million. No doubt about it – those are some impressive numbers. But when you dig a little deeper, what makes Michael truly impressive is how he’s found lessons and growth and opportunities along the way. He is always looking for what’s missing and how he can build it. If you can see what problems haven’t been solved yet – for your industry, your customers, or even your team – and then build something to solve it, you’re going to find success. It’s a vital skill for entrepreneurs and every other kind of leader. Listen to this conversation with Michael and see how it’s done. You’ll also learn: Why organizations in turmoil can be fantastic learning opportunities A process you can use to navigate change The #1 piece of advice for entrepreneurs when building a product The surprising advantage you have if your career path hasn’t been a straight line Why your point of view on humanity impacts your success as a leader Take your learning further. Get proven leadership advice from these (free!) resources: The How Leaders Lead App: A vast library of 90-second leadership lessons to stay sharp on the go Daily Insight Emails: One small (but powerful!) leadership principle to focus on each day Whichever you choose, you can be sure you’ll get the trusted leadership advice you need to advance your career, develop your team, and grow your business.

Transcript

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0:00.0	Welcome to How Leaders Lead, where every week you get to listen in while I interview some of the very best leaders in the world.
0:10.1	I break down the key learning so that by the end of the episode, you'll have something simple you can apply as you develop into a better leader.
0:18.2	That's what this podcast is all about.
0:22.8	Today's guest is Michael Walruth,
0:29.3	chairman and CEO of Yext. I got to tell you, Michael is one of the most remarkable entrepreneurs I know. Get this, in three years, he built a $35 million company called Wright Media and then sold
0:36.7	it to Yahoo for almost $800 million.
0:40.6	No doubt about it, those are some impressive numbers. But when you dig a little deeper,
0:45.8	what makes Michael truly impressive is how he's found lessons and growth and opportunities
0:51.1	all along the way. He's always looking for what's missing and how he can build it.
0:56.8	If you can see what problems haven't been solved yet when you look at your industry or your
1:01.6	customers or even your team and then build something to solve it, let me tell you, you're going to
1:07.5	find some success. It's a vital skill for entrepreneurs and every other kind of leader. And when you listen to Michael, you're going to find some success. It's a vital skill for entrepreneurs and every other kind of leader.
1:13.3	And when you listen to Michael, you can see how he's done it.
1:16.7	So here's my conversation with my good friend and soon to be yours, Michael Waller.
1:30.1	Mike, it's really great to have you on the show.
1:31.6	It's great to be here, David.
1:35.0	I feel like we should just end it now because I can't live up to that introduction.
1:43.4	You know, you've had such a remarkable career, and it's full of highlights and some amazing experiences. And I want to walk you through your career
1:45.1	journey and get some of the insights that you had along the way. But I got to start by saying,
1:49.9	here you are a CEO of a public company, but I learned you actually tended bar after college.
1:57.8	What did you learn from that experience? Then I didn't want to 10 bar for the rest of my life.
2:03.1	You know, that's a true story. I went to the University of Richmond. I graduated with the
	...

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