In this episode of the Arete Podcast, Richard interviews Grant Moyle - the CEO of XLM Systems.
XLM Systems helps mining businesses switch from mechanical solutions to IIoT (Industrial Internet of Things) solutions for their operations.
He shares his personal background, his career over the past years, his mindset on business investing and acquisitions, to employee recruitment and team handling, his current role as the CEO, his career and business aspirations, and more.
What is IoT?
XLM has been in existence in its current form for 2 years
The business has just purchased a software development business, doubling in size to 12 currently on staff
XLM is owned by Mitchell Group, a family-based investment firm established over 50 years ago
Grant's portfolio before being XLM Systems's CEO - from his earlier experiences, to working in the field, working for Compaq, moving to London and starting as a data entry professional and moving up to an MD role, moving to Calcutta, India and starting a company there, working as CEO/Chair of Mitchell Group, and now to being XLM Systems's CEO
Mitchell's criteria in assessing a business investment or acquisition
The mining sector is their specialty
Businesses are all people and the CEO/Chair role is to put the right people in the right roles
"The difference with hiring a 'good team' or a 'bad team' are worlds apart"
"Know your role. Execute your role."
Employing a person for a task versus investing in a broad competency/attitude knowing they're coming with a deficit in skills
‘Peacocks’ in London vs the uneducated kid from Blacktown in Sydney
"I want everybody that works for me to be smarter because it makes us smarter"
Skills Grant gained along the way that allowed him to build his capability to where he is now
Street smarts and instinct get you three or four steps ahead
University education is not a prerequisite for success
“Instinct and confidence opens the next step whilst working with mentors allows application”
Employers want to see people who have got a commitment to lifelong learning.
An MBA isn’t worth anything. If you don't have the practical, key achievements, and transferable skills, it doesn't matter what paper you've got.
"If you're coming out of university and want to get an MBA because you think it makes you worth more, the motive’s wrong. And if the motives’ wrong, then the application of it is wrong."
Grant shares his experience with stepping in as XLM's CEO
"Great products alone don't necessarily make a business"
Scaling the business from an inventor/founder base
Developing groundbreaking power units that will increase efficiencies on a scale not seen before
Current acquisitions - software and hardware
"Growing the business, investing in the business, looking for other acquisitions is something that you need experience"
Packaging the product to make it appealing to the mining sector
Marketing is everything
“That is awesome! What is it?”
Grant’s vision of excellence for 2025
Using IIoT and satellite technology
Using industrial designers to make the product more appealing.
"We will build the best asset-tracking solution platform for industrial applications"
‘Powered by XLM’
Where does Grant see the business looking forward? Will it stay in Brisbane? Any international aspirations?
"Government's calling us smart doesn't make us smart. We need to have real support."
"Nothing works better than a team of people working as a team of people"
What is Grant excited for in his own career?
Building a business that people are proud to be a part of
What is Grant when he is not at work?