In the financial technology sector, this entrepreneur stands out for his dedication to making finance accessible, engaging, and empowering for the next generation. Michael Wilkinson, the co-founder and CEO of EVERYTHING, is on a mission to redefine how young adults learn about and manage their money. Through visionary leadership, he has not only left an indelible mark on the financial technology industry but has also made a lasting impact on the startup ecosystem.
Embarking on the Journey
Michael’s entrepreneurial career commenced with a pivotal decision—to forego a secure corporate career he had diligently pursued at the University of Manchester Business School. Instead, he opted for a path less traveled, joining the groundbreaking startup Crowdcube, as it was beginning its own journey. In exchange for a substantial salary cut, he set out on a mission to revolutionise the world of startup fundraising. His motivation? A fervent desire to democratise investment, empower underserved startups and enable everyday people to actively participate in the growth of early-stage companies.
Overcoming the Entrepreneurial Challenges
Among the myriad of challenges that Michael has faced, raising funds for his present company during turbulent economic times loomed large. Despite amassing an impressive record of accomplishment—rapidly growing user numbers, tens of millions of TikTok views, and an FCA-regulated app with exceptional metrics—securing funding for EVERYTHING proved to be a formidable task. As any entrepreneur who has been in this situation will know. It’s no easy feat. Repetitive meetings, countless rejections, inevitable silences, and dashed hopes and dreams tested Michael’s resilience to its limits. Nevertheless, only by reminding himself of the importance of the mission, the backing of a team who wouldn’t quit and love and support from early customers gave him the strength to carry on when things were at their bleakest.
A Day in the Life of a Visionary
Michael’s typical day is a well-structured blend of physical activity, deep work, and strategic planning. It kicks off early, with moments dedicated to breathwork to centre himself. CrossFit sessions and focused work on product development or business operations follow suit. Michael places a premium on efficient communication, reserving time to engage with team members and address issues expeditiously. His day culminates with a sacrosanct strategic planning ritual for the following day, to realign priorities and remain productive and focused.
Guiding Principles for Success
A foundational principle guiding Michael’s path to success is the unwavering trust he places in his team. He firmly believes that by hiring outstanding individuals, aligning them with a shared vision, and granting them autonomy, motivation and creativity can flourish. He’s a firm believer in openness and transparency during the good times and the bad. Trust is hard won but quickly lost. Without it, he believes no business can function at a high level.
Charting the Course for the Future
EVERYTHING’s mission is to secure the financial futures of the next generation by making money fun, rewarding, gamified and social. Michael envisions EVERYTHING as the quintessential platform for Gen Z’s financial needs. The success of the company depends on aligning entirely with the customers’ needs to deliver exceptional financial education, savings, payments, and rewards experiences, alongside them.
Balancing the Scales of Responsibility
Balancing responsibilities to stakeholders, employees, customers, and the community is an intricate task. Michael underscores the significance of a well-defined mission, vision, values, and OKRs (Objectives and Key Results) in guiding decision-making and prioritising responsibilities. When this is coupled with transparent, honest and instant communication to all relevant parties, expectations can often be effectively managed.
Talent Acquisition and Nurturing Talent
Michael places a premium on hiring individuals who share the company’s values and mission, valuing curiosity, ambition and a growth mindset over experience. His employee development programme is characterised by flexibility and allowing team members the autonomy to explore areas they are enthusiastic about. Regular check-ins and unwavering support from leadership facilitate personal and professional growth.
Fostering Innovation and Collaboration
Innovation and collaboration flourish at EVERYTHING through a bottom-up approach. Cross-functional teams set OKRs and are granted the autonomy to determine how best to achieve them. This empowerment of teams at the ‘coal face’ fosters highly relevant problem-solving and innovation. Furthermore, EVERYTHING champions remote work and flexible schedules, trusting the team to deliver on their own terms, with periodic in-person gatherings to bolster relationships and align on OKRs.
Michael Wilkinson’s entrepreneurial voyage is marked by his resolute commitment to improving finance for a multitude of different stakeholders. As the founder and CEO of EVERYTHING, he continues to lead the charge in transforming how young adults approach personal finance, leaving an enduring mark on the fintech industry and the communities he serves.
