This ongoing series shares advice, tips, and insights with real entrepreneurs, who battle it out in the business world every day. Answers were edited for clarity.
Give us a brief elevator pitch about your company.
Brandon Sawalich is the President and CEO at Starkey. Starkey is one of the biggest hearing technology companies worldwide and the only one based in the United States. Our innovative technologies improve lives in ways that go beyond better hearing. They have the highest sound quality on the market and also include AI to simulate the brain’s ability to adapt to different listening situations.
Tell us about an important moment in your company’s history.
Seven years ago I began to look at the business differently. Each hearing technology company was focused on small improvements. When I saw the latest global technology, I knew that we could do more. There were so many multi-purpose devices. Imagine all that your iPhone is capable of beyond making phone calls. Starkey was to be the hearing aid version of what Apple had done for smartphones. Why wasn’t hearing aids a must-have? Your ear leads to your brain. I wanted to turn the ear into the next wrist. I saw the opportunity to disrupt and take the moonshot. Years before any other company, we were the ones who started the AI integration process into hearing aids. Seven years on, Edge AI is now the leading product in the hearing aid industry.
In 90 days, he launched his own business. He now has 40 stores worldwide that sell his products.
What would your advice be to entrepreneurs or business leaders seeking funding?
You need to surround yourself with those who share your passion and are committed to it. Our company is privately owned, which allows us the freedom to concentrate on our customers and patients rather than investors. It’s not my place to speak about funding. But I do want to emphasize the importance of having a moonshot concept and having people who support it. Don’t only look for investors who have big pockets; find people that believe in you. When they are surrounded by a talented and aligned team, entrepreneurs find success.
What is the meaning of the word “entrepreneur” What do you mean to me?
Entrepreneurs are people who look at the world differently. It can happen to anyone in an organization, not only the leaders. Innovation is the hallmark of an entrepreneurial mind-set. My teams are often told not to settle for the status quo. It’s impossible to achieve something extraordinary if everything is done the same. Don’t miss out on the opportunity. Take the chance. Entrepreneurs are never content with complacency. Always thinking ahead, they are always one step ahead. Starkey should always be five years ahead. This is what I’m excited about!
How do you make a difference in the lives of others by using your position as a leader?
It is important for a business leader to motivate and encourage their team. You must set the example and lead by example once your vision has been clarified. If I don’t do it, I cannot ask others to. You should model the behaviors you wish to see among your team members. Also, you need to be open and receptive to change. On social media, I am inspired by many business leaders and aspire towards their success. It helps me to constantly reevaluate my leadership style and how I present myself for my team. Starkey employs over 5,000 people worldwide and, in my opinion, it is not me who works for them but rather they work for me. To inspire others to follow my example, I strive to be the most effective leader possible.
What do many business leaders believe they need but don’t really have?
Many business leaders believe that they must be the most intelligent person in each room. It’s not true! Leadership is more like being the conductor for an orchestra. When I consider the overall picture, I make sure that we have leadership for each department. It is my hope that the Chief Operations Officer will be able to understand supply chain and technology better than myself. You’re wrong if you try to be more intelligent than your team. You can say anything you want. “I don’t know” You chose your team for a good reason. You have to get the correct people into the right positions and then move out of the way.
Similar: When he immigrated to the U.S., he had $75. After that, he started a business and grew it to $1.2 billion.
Do you have a favorite quote or phrase that motivates you personally?
The saying I’ve always liked “Don’t lose sleep over the competition. Make them lose sleep over you.” Competition is good, particularly in my industry. Competition is good for everyone. Because I am familiar with Starkey’s work, I do not worry what other companies are working on. We strive to keep up with the rapid pace of science. To be the best we must always strive to improve and to commit ourselves to excellence. You should focus on what you did well and not so well, on what failed and on how to improve on what was done. You will be successful if you constantly challenge yourself to improve on the last effort.
