Entrepreneurial Speakers or those YouTube ads about starting your own 7 figure business can be intensely motivational. That's not a bad thing, but you need to keep yourself grounded.
This kind of motivation and hyper-positivity can be counter-productive if you lean too far into it. When someone paints an atypical or unrealistic picture of entrepreneurship, it can feel like you're doing something wrong when it doesn't work that way for you.
The truth is, you do not need to be a millionaire or a billionaire to be successful. For many, being able to support yourself and your family, and save for retirement is what business success is about. You don't need to become a huge enterprise to be a success.
- Yes, it is possible that your businesses will make 6 or 7 figures in MRR. However, this is not the benchmark and you need to set achievable and realistic goals. Don't be blinded by the unicorns.
- No, you probably can't run off two hours of sleep, at least long term. Sleep enough to feel rested and productive. Burnout is real, if you don't stop, your body will force you to. Exhaustion isn't a status symbol, it's a liability
- Keep your Work/Life Harmony in check. When your life is balanced and full, you will be happier at your work. Grinding for 10 years at the expense of your mental health and personal relationships will hurt in the long run.
When you're tired and burnt out, you think you're being as effective as when you're sharp. But you're not.
A few years ago, I was working on a large project for the corporation I was working for. I stayed up until the early hours of the morning, diving into data and analyzing the information, then laying it out in a concise way. I turned in at about 3 am when I was finished.
After some sleep and a shower, I realized I missed some really obvious things, and I had written my query wrong, so the data was inaccurate. I could have save myself hours by just going to bed and coming at the problem fresh in the morning. Lesson learned.
According to Why We Sleep by Matthew Walker, some of us have genetic mutations where their bodies don't need 8 hours of sleep. They do just fine with 5-6 hours. However, they are hugely in the minority, as most of us need 8 hours for optimal health.
The real Entrepreneurial game is about sustainability.
You fear your business may not have long-term stability when you encounter unpredictable obstacles such as seasonality, plateauing or new competitors. You shouldn't be stressing if your business will be profitable, or even exist long term. You must ensure your business is building a brand with a sustainable and adaptable business plan rather than a "get rich quick" scheme.
Can you build something that lasts, and still lead a life you enjoy living? If you can achieve sustainable growth and deliver value to your customers and employees, you have it made. There is no formula someone can teach you to become an overnight millionaire. Experience matters, and the best way to gain experience is by doing the things you want to do, while taking the time to reflect on them. You need to stop looking for the next big thing that will make your business explode, and prioritize what is most important to your brand's sustainability.
Set Expectations. It's not personal, it's just business.
For new businesses, E-commerce has a steep learning curve, which is misrepresented by all the get rich quick media out there. You need to decide what business success is going to look like for you. What your personal goals for growth and finances will be, and how you plan on achieving them. Make sure your work goals are realistic, and in line with your life goals.
It's important to remember that the YouTube personalities and motivational speakers of the world are in the business of making money from their speeches. Whether it is getting paid to speak or using those videos as a funnel for their program etc, in the end, it's a marketing pitch.
They are trying to sell you a dream.
There's nothing wrong with chasing a dream, just make sure it's your dream you're chasing.