A lot of people idolize the entrepreneur who spends 16 hours a day hustling, and within certain entrepreneurial communities there’s this pressure to fit that particular stereotype. Folks like Gary Vaynerchuck praise “hunger,” “desire,” and “hustle,” as if those were the only things that really mattered in business. And to some extent they are right to do so. I’d absolutely bet on someone who fits that description, because I know that no matter what obstacles fall in front of them, they will make their dream happen. These people have endless energy; they don’t quit, or sit still even, because they can’t. It’s like they’re wired a brain that just can’t be turned off. Competing against those people is terrifying, because you’re fighting a war against someone with unlimited resources. Whatever stuff they need, they will find a way to get. Whatever they need to do, they will.
But how is that valuable to me? As much as I’d like to have that level of energy, and that drive, and everything else, I just don’t. I don’t have that frenzied, “hair on fire” feeling. I lack that intense desire, that passion. I’m too comfortable, too complacent. As if by some bizarre curse, I’ve learned that I don’t need very much materially to be happy with my life.
But again, how is that valuable? What can I do to gain an edge? What will I do?
First off, I am frugal. If I get to a point where I make $200k one year with my business, almost all of that is going into a savings or brokerage account. I understand that everything I’ve built and worked for can be taken away, whether by a bad economic climate, changing preferences, or a cut-throat competitor. If I’m leveraged with lots of debt when that happens, I’m screwed. But if I’ve built up a brokerage account with a few hundred thousand dollars, I’ll be extremely close to becoming financially independent, maybe all the way there if my expenses are low enough. In that second scenario, I no longer need my business to succeed.
Second, I’m going to pick my battles carefully. I’m not going to choose a business that needs 12 hours of my time every day to survive. I’m going to hire out for everything that isn’t a good use of my time.
Third, I’m going to learn constantly. There’s a difference between pounding podcasts or audiobooks all day long, and sitting down to reflect on that information. Lots of people do the first part, it’s easy. Internalizing and reflecting though, really making that knowledge valuable, is hard. Very few people will do that. Very few of the “hair on fire” entrepreneurs even can.
Fourth, I’m going to build a personal brand where people don’t just want my services, they want me. I’m going to teach and share information constantly, I will be THE expert in whatever field I choose. Most coaches and advisories operate as dispensers of commodity information. For depth of thought, as well as a uniquely good fit for what they need, people will come to me. Over and over.
Fifth, I’m going to get a good night’s sleep every night. I will cultivate tranquility in my life. I will stay fit, I’ll eat healthy. I’ll keep a great relationship with Michelle. I’ll keep good relationships with my business partners and employees. Lots of people and businesses fall apart from the inside out, because they don’t do maintenance on themselves. It looks great for a while, but then BAM! They lose 5 years as a relationship crumbles! They lose half their assets and cash flow to a divorce! They get heart failure from to the stress of those 16 hour days, eating conveniently (not well), and not exercising.
Sixth, I will grind it out slowly. Others may sprint, and run out of gas, but I can’t even go that fast. I don’t have that spark. They’re a NASCAR racer doing 500 miles in 3 hours, burning tons of fuel, and risking crashes all along the way. I’m more like a 2014 Hyundai Elantra doing 55 on the on the highway, getting 44 mpg, racking up miles slow and steady. I have discipline.
These are my particular assets. I wish I had more drive, sure, but that’s not for me to choose. What I can (and will) do is know myself and play to my own strengths, rather than try to beat someone else at their own game.