Listen to the podcast here:
Have you heard about this secret to success?
“Hustle, work your face off, work til you drop. Work until you’re exhausted. Work hard and put in the hours. Then you’ll get rich.”I think there's some truth to that, but that truly is not the answer. I’ve met too many people who work 10 to 12 hour days and they’re still drowning in debt. Click To Tweet
So I’ve got two questions for you if you’re hustling and dreaming of having lots of money.
Number one, are you currently working very, very hard? Are you getting the results that you want? Are you making the kind of money that you want? If the answer’s no, then why not? Why isn’t your success secret working?
Number two, how many people do you know in your life that work very hard, yet they don’t make a lot of money? Think about it.
That secret formula cannot be the answer. It’s just part of the answer. You’ve got to put in the effort and work hard to a degree, but that’s not what’s going to make you rich.
So, what is the answer? What is the truth?
The truth is this: I think it depends on where you are in your career, but assuming I’m talking to you as an entrepreneur, a high achiever, here’s what I believe. If you’ve been working and hustling for five years, and you’re not making at least a six-figure income, something is missing.
If after 10 years of your career as an entrepreneur you’re not making a seven-figure income, you’ve got to revisit what you’re doing right now. Something is wrong. There are only so many hours you can work each day, and only so many seven-day weeks you can put in before you’re completely exhausted.
I’ve taken a different approach to building my wealth.
Here are some of the things I’ve done, which I talk about in this podcast:
- Reading The 80/20 Individual by Richard Koch. So many gurus talk about the hustle, a shotgun approach where you put in so many hours of work, but I prefer the sniper approach. I believe 20% of your activities give you 80% of the results.
- Leveraging other people’s time, money, resources, and talents. That’s how the rich get 10x the impact.
- Shifting your mindset. Eight-figure entrepreneurs behave differently and run their business differently than seven-figure entrepreneurs but they don’t hustle 100x harder. They approach their business with a different mindset as their income grows.
- Working hard but also working smarter to get results.