When you try new or different things, you’ll always have people asking you some version of “Why would you do that?” Why start a company? Why volunteer? Why put your reputation on the line? Why make that investment? Why risk it?
My answer to this is always the same: “Why not?”
In my twenties, I was focused on the expense side of the equation of net worth. So I saved everything I could. I was making really good money after I got out of the Air Force and I lived in a guy’s room for $400/month instead of renting my own apartment. All to save money. I went too far, and it affected how much I enjoyed my life. Saving, and working towards financial independence, is obviously important. But not at the expense of your happiness. I used to fret about money and constantly feel guilty about spending. But then I realized there are two sides to the equation. There is the expense side, of course. But there is also the revenue side. I realized I could increase the amount of money I made through investments and entrepreneurship. The net worth would still be there, but not by scrimping and saving every penny I could get my hands on. My mindset completely shifted. My guilt went away and, not to be too dramatic, I was liberated by the new mindset. I wish I could go back and tell my 24-year-old self this…
Only if you HAVE to be an entrepreneur. Starting a company and growing it takes years of dedicate, patience, commitment, passion, and energy. It will take everything you have and then some. If it isn’t your mission in life to be successful, you won’t be and you shouldn’t even start. There’s nothing wrong with not wanting to be an entrepreneur. As glamourous as it may seem, it’s so difficult with incredible highs… and lows. Most entrepreneurs–even the most successful ones–will tell you that had they known how hard it would be they probably would not do it again.
Layla, cheering up Mommy after she made a mistake…
Your success will depend entirely on your ability to communicate well. I don’t think that’s an overstatement. If you can write well and speak clearly — able to effectively communicate the thoughts in your head so the other person understands exactly what you are trying to say — you are on your way to effective leadership, compelling thoughts, and convincing people to see your perspective. Conversely, if you can’t communicate well, your success will be limited. As a first step, invest the time in learning to write effectively, even 2-3 sentence-long emails. If you write effectively, your speech will also become more coherent and compelling.
A bonus of learning to communicate effectively is you also learn to THINK better. If you can’t explain it well enough, you don’t understand it well enough. So learning to communicate it also helps you learn to think through it.
This applies in business but also in your personal life.
You are going to live a long life. This is hard to comprehend when you are younger. But everything you put your body through is going to add up over time and multiply when you are older. I have seen a lot of people not treat their body well in the early years (e.g., alcohol, or performance enhancing supplements ) and regret it in their later years. Realize you will live a long life and treat your body and brain accordingly.
When it comes to business, you want to play the long game. Keep the end in mind. Forget about the short-term slights or revenge that you really want to take, and play a few moves out in your head. How is this going to play out? What will happen next? And after that? And is that what you want/intend. Make rational, long-term moves. Don’t do the easy, convenient, or feel-good thing today if it’s going to hurt you in the long term.
So much good comes to you from gratitude. Shift your focus to one of appreciation and gratitude. Make your experience one of thankfulness and joy. This can be really hard at first, but like building a muscle it becomes easier and faster over time.
You should intentionally expose yourself to the other side of rough neighborhoods and other people. You can’t really be grateful for what you have until you know how special it is. Exposing yourself will immediately give you tremendous respect and gratitude for what you have.
