The 1 Thing You Have To Give Up To Be A Successful Entrepreneur

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Your relationships.

Anyone who has been a successful business owner has sacrificed their personal life at some point.

I’m not against working hard, but at what expense?

I hear a lot of 20 somethings say they want to focus on their career then get married and start a family in their 30’s. Well guess what: relationships don’t grow on trees nor come without a cost – mainly time.

It’s the same reason why most celebrities and professional athletes aren’t able to maintain a strong family unit because they’ve chosen to put their careers in the forefront and their relationships outside of work on the back burner. If you’re fortunate enough to have a selfless spouse who can hold the house down while you’re away then it can work, but that takes a special individual to put your needs before theirs.

When I look back on my career as a full-time entrepreneur I realize why I never met my own lofty expectations: I put people before profit. It’s your choice which one you choose, but rarely can you pick both.

I had too many boundaries in place to go “all-in,” therefore I would work up to a certain point, but cared about my lifestyle more than my possessions.

This post isn’t to mock those who have made it big nor is it putting those who are relationally-focused on a pedestal. It’s my observation of over 10+ years of reading, hearing and witnessing first-hand what it really takes to live the American Dream.

If there’s an understanding in terms of priorities that your career is first then those associated with you have to abide by it. Of course hard work alone doesn’t guarantee anything, but without it you don’t stand a chance.

The realization I came to is: people are most important to me.

When I first started my business I had financial goals in mind that I hit quickly, but over time I realized to reach the next tier I’d have to sacrifice the relationships around me. Since I wasn’t willing to do that, the numbers of hours I dedicated reflected in the amount of the paycheck (or lack thereof).

Fortunately I married someone who shares my values. I love that she is raising our two kids at home until they are full-time at school. We can make it on a single income because we live lean and value our time together the most. You don’t need a lot of money to be happy, but you do need to allocate a great amount of time to others.

It’s up to you to decide what currency is most important: time or money. Once you do, it’s easy to know where you should spend your energy.

Why Punctuality Makes My Blood Boil

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Time is the most valuable currency, not money.

Everyone has the same amount, but we don’t use it the same.

Even before I was married and had kids, being on time mattered.

Efficiency is one of my top values and working smarter means maximizing your time.

But at a deeper level punctuality is about respect.

If time is the most valuable currency, being late means you’re wasting someone else’s time.

It’s time you can’t get back.

My roots were planted by my mom who is extremely reliable. When I was a kid if I asked her to do something and she committed to it, it would get done. It’s had a huge influence on my personality.

In the workplace punctuality is part of your reputation. When you’re late people notice. In fact I’d argue it’s a sign of integrity.

If a meeting starts at 8 AM and you’re late, it’s a slap in the face to the host.

Nobody’s perfect so an occasional slip up is fine, but habitual offenders become labeled.

Even since I joined the corporate world, I’ve continued to network online (LinkedIn), via phone and in-person on my lunch breaks. It’s more than a goal, it’s part of my lifestyle. The worst way to ruin a first impression is to show up late. I do my best to be early or on time.

So what if you lack punctuality?

You have a choice: talk about it or be about it.

Words are cheap. Actions are what matters. Don’t tell me, show me.

Most people believe being busy is a badge of honor. I disagree.

The more successful you become, the more in control of your time you should be.

Value your time by meeting with less people.

Value others’ time by showing up on time.

Valuing time means respecting others’.