Michael Dunworth

CEO and co-founder of Wyre –blockchain technology company

What is your passion?

Not having a passion is like a curse, without one you get too distracted. Right now my passion is to build something that adds a lot of value for a lot of people. Something that is meaningful to other people; to build a meaningful company and create great relationships with my team members and customers. For me being able to look back 15 years from now, and be like holy shit, our team of 40 people helped 100,000 business save over 100 million dollars, would not be so bad 😉

What’s the best advice you would share with a young entrepreneur starting in San Francisco?

1. Best advise is make decisions, the worst possible decision is indecision, being indecisive. Make decisions and the same goes for doing something. If you make the decision that’s a wrong one – make the next decision. It’ll either get you what you want or magnify what you want to get.

2. Put yourself out of your comfort zone. There’s a million people who have done it before you and know that you’re not going to die. You should do it before you can’t. The last thing you want to do is to regret what you haven’t done. Put a time on it, alright make progress everyday, that’s the only thing you need to focus on. Everything happens organically. Start with little chunks, set achievable small goals, then chip away.

3. Meet as many people as possible and solve problems for people. The more you’re helpful, the more doors will open. Even if you don’t have an answer to a problem at least try your best to help. Do it without the idea of cashing in a favor later, but always leaving a good impression.Try to be as helpful as possible.

What are some things that can help others not be afraid of taking risks?

Adversity is the best way to grow. When I was moving to SF, tons of people were trying to introduce me to other Aussies in SF. But if I was going to do this (start my own journey as an entrepreneur), I wanted to start from scratch, no friends and no connections. I wanted to create a healthier environment to build friends and credibility. No family, no friends, no money means you don’t know what the f*** is going to happen. It becomes a strong motivator to succeed, to grow on your own. Building a network of support can be tremendous help for preparing for adversity. Everyday is going to be a great day or the worst day, that’s the entrepreneur life. If you’re by yourself, that’s really hard to swallow repeatedly. You know – you’re getting punched day after day, but if you have someone or a team, even if it’s just someone to talk to, period, vent to, having that is so important. So many people under estimate that. You can’t get feedback from yourself. For people who don’t have a plan B, that network is your plan B. Building a team of people that work together, because if you do that very well even if your company doesn’t work out you’ll create a million other opportunities through those relationships.