Today, former rocket engineer turned investor/consultant Mike Sackmary joins us for another exciting episode. He coined the phrase Genius Mistake and he shares how business owners, entrepreneurs, and other leaders can identify and overcome these mistakes.

Shifting Careers

Genius Mistakes: Identifying and Overcoming Business Challenges | 064 Mike Sackmary

Mike spent 12 years in rocket engineering before transitioning to business when he created his own investing firm. He Co-founded Constant Closers to provide guidance to professional people to turn prospects into ardent evangelists for their businesses.

“We were working on the space shuttle program. Rocket engines are a little bit complex. I kept thinking, why are we coming up with errors? Why are we finding the same kind of problems? Or we might solve Problem A in situation B, for example, but Problem A would come again in situation F. Why is that same type of problem is repeating?” – Mike Sackmary

Genius Mistakes

After getting inspiration from his rocket engineering career, Mike coined the term Genius Mistakes. He further shares the genius mistakes that he sees in companies who are failing, or not staying in business

“A genius mistake is when you’re so smart in your own mind, you let the same error happen but you didn’t catch it because you were thinking in a different direction.” – Mike Sackmary

One of the main genius mistakes Mike mentions is: the sales is not greater than the owner’s cash burn rate. Another thing is that business owners are oftentimes the bottleneck in the business because they believe they can accomplish everything without seeking help or they are not open to constructive criticisms.

“Are you able to be humble in a good way? To be able to listen and not criticize? Absorb it, let the people who know you well, help you and see where the parts that you shouldn’t be handling yourself.” – Mike Sackmary

The Big Why

Jaime Jay also seeks out Mike’s definition of culture and what is his biggest driver in doing what he does. Mike’s driver is to help people. He believes one can help and give value and still make money. Anyone can be kind, compassionate and professional at the same time.

“My big why is how do we help people. One of my primary investors in this company said: ‘Well, let’s narrow it down to better phrasing. Let’s say we do well by doing good or we make money by solving problems in a good way.'” – Mike Sackmary

Download and listen to Genius Mistakes: Identifying and Overcoming Business Challenges to learn more. Remember to let Mike know you heard about him on Culture Eats Strategy with Jaime Jay!

Connect through the links below:

Linkedin: Mike Sackmary

Twitter: @ClosersConstant

Website: Constant Closers

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7 Comments

  1. Martyn on December 18, 2019 at 4:15 pm

    We’ve all been there, making the same mistake again and again. “You can’t solve a problem with the same way you thought yourself into it”. Yet as humans we always seem to repeat the process, until someone comes along with a different view.

    Mike and Constant Closers are that different view(s) for businesses who might be struggling with their bottlenecks.

  2. Andy Stone on December 18, 2019 at 7:02 pm

    I’ve known Mike for a little while and have had the extreme pleasure to work with him on a number of occasions. His astute though process and business acumen has carried our teams through times of challenges and confusion and has always granted us the gift of clarity when faced with seemingly mind-boggling problems.
    This is an interview that’s filled with gold nuggets to take and run with!!

  3. james on January 11, 2020 at 12:01 am

    Great job Mike & Jaime! I really enjoyed the deeper level that this conversation went on issues that are often ‘brushed under the carpet’ in organizations. The subtleties of these ‘soft issues’ within an organization can have significant impact on the ‘hard activities’; and ultimately revenue. So time spent on these will pay dividends in the long run. hands down Great podcast. Thank you!

  4. Hope on January 12, 2020 at 4:01 pm

    Mike, is one of those guys who is truly transparent… What you see is what you get. He has a brilliant mind, but lives from a heart of compassion.

  5. S. Fitzgerald on January 20, 2020 at 2:12 pm

    Mike is one of those rare people that truly cares. He’s a problem solver, a thinker, and can help you gain a different perspective. We all have challenges and can all benefit from others input and thinking outside the box. Build your business and have happier, more productive employees by following some of Mike’s suggestions. Do the same things, get the same results. Why not try a different approach?

  6. S. Fitzgerald on January 20, 2020 at 2:12 pm

    Mike is one of those rare people that truly cares. He’s a problem solver, a thinker, and can help you gain a different perspective. We all have challenges and can all benefit from others input and thinking outside the box. Build your business and have happier, more productive employees by following some of Mike’s suggestions. Do the same things, get the same results. Why not try a different approach?

  7. S. Fitzgerald on January 20, 2020 at 2:20 pm

    Mike is one of those rare people that really cares. He listens. He’s also a problem solver, helping people to think outside the box and maybe see something they didn’t notice before, something that may be a big stumbling block and preventing a person or company from moving forward. One of the biggest hurdles most companies face is how to value their employees and keep them motivated. He gives some great suggestions. Many of us fall into a rut and keep trying the same things again and again, not getting any better result. Why not try something different?

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