The Work-Life Balance Entrepreneur

We’ve all heard the constant drumbeat over the last several years about work-life balance. It’s the notion that we must find a healthy equilibrium between our work and everything else that is occurring outside of work. It’s an admirable and noble goal and certainly achievable . . . to a point. I don’t mean to burst the proverbial bubble, but there are situations where it just isn’t going to happen. Let me explain.

When I joined my company in 1975, we were a fledgling organization founded just five years earlier by an entrepreneur’s entrepreneur. We were scrapping and clawing our way to success. The competition was fierce, and we were in a “take no prisoners” industry. Back then you did whatever it took to win and keep business. I worked 100+ hours a week. I remember arriving at the office at 3:00 AM to get a head start on the day and would routinely see one of my partners leaving at the same time to go home and get a few hours of sleep before tackling it again later that morning. I still recall being at the office on New Year’s Eve at 11:30 PM working on an important proposal that had to be in the hands of a prospective client at 8:00 AM on January 2. We didn’t complain; we didn’t whine; we weren’t even aware of the term “work-life balance.” When our children were born, the juggling act became even more acute. I’m proud to say that I never missed any of my daughters’ school or sporting events though I know there were mad dashes at times to be present.

What would have happened if we had not worked the crazy hours and made the sacrifices along the way? There’s no way to know for sure, but I suspect that we would have missed opportunities and our company would not have grown and succeeded the way it has. Early on, I skipped vacations. I loved what I was doing, and my wife was immersed in her career. Did I feel like we were deprived of a more satisfying life at that point? No. I had a long-term view that if we invested heavily at the beginning of our lives, we eventually would be able to enjoy the fruits of our labor later in life. And this was not about “paying my dues” as a young whippersnapper. I never saw it as a climb up the corporate ladder. It was 100% about building a profitable business that was sustainable for the long haul.

Which brings us to the environment today. I’m thrilled that members of our team do not have to work 100+ hours a week. I’m ecstatic that members of our team can spend more time with their families and friends and have healthy interests outside of the business. But I can guarantee that if we were starting from scratch, someone would find it necessary to do exactly what we were doing in the 1970s and 1980s, and that is work long hours with a singular focus on long-term success.  

The bottom line is that in start-up situations, it’s going to be very difficult to experience today’s definition of “work-life balance.” If you are an entrepreneur and thinking about starting a business, I encourage you to not do so if you are unwilling or unable to make significant sacrifices to establish your enterprise successfully in the marketplace. You would be better off working for a company where someone else has already made those sacrifices that have led to a high level of achievement. Fortunately, my story is a happy one. I have been able to integrate multiple facets of work and personal interests into a wonderful and fulfilling life. I don’t compartmentalize work, philanthropy, family, friends, civic, etc. Everything blends together. But it would not have been possible had I (and others in the organization) not invested my time and talent in an extremely focused manner many years ago.

Work-life balance is possible in the right situation. For an entrepreneur desiring to launch a new endeavor there must be a recognition that there will be large sacrifices regardless of how smart one is able to function.

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.

The Wealthy Entrepreneur

Entrepreneurship has long been the proven path to wealth – great wealth in fact. For decades we’ve heard the rags-to-riches stories about men and women who have had an idea and built a successful company around it. I don’t need to cite these examples because you have already heard them over and over. Normal, ordinary people have become billionaires and centimillionaires through their entrepreneurial endeavors. But I want to focus on wealth differently in this blog.

Early in my career my focus was on making a lot of money. I don’t think I was a whole lot different than many other young, driven, Type A people. I went about my business, always checking my bank balance and trying to figure out how to add another zero or two. And the harder I tried, the more elusive the result seemed to become. I scrimped and saved and eventually enjoyed a nice material lifestyle – but the big dollars that I coveted never seemed to come.

I can’t pinpoint exactly when the shift occurred or what triggered it, but one day I found myself less obsessed with the end result (a large net worth) and more focused on the process of what I was doing and the joy it brought me. The money and wealth accumulation became secondary to actually building the business with my partners. Once I did this, the dollar rewards appeared – and sometimes in ways I’d never dreamed. There’s a constellation in the night sky that illustrates this perfectly. When we try and look directly at the Pleiades (also known as the Seven Sisters) it’s hard to see all the stars. But when we focus on a nearby star or constellation, the Pleiades can be vividly seen in our peripheral vision. In other words, trying to see the Seven Sisters head-on is frustrating and nearly impossible with the naked eye. But when our focus is elsewhere, the star cluster comes into view with greater clarity. This became a perfect metaphor for my situation.

Along the way I have discovered there are many more elements to wealth than simply money. The entrepreneur who thinks that life is only about making tons of money is going to miss many opportunities to become fabulously wealthy in other ways. Let’s explore some of these possibilities.

At this stage of my life, I value the relationships with which I’m blessed as much as the dollars that come my way. I’ve long believed in collecting as many relationships over the course of my life as possible for the purpose of serving others. These relationships have been developed without quid pro quo. In other words, I serve my relationships without any expectation of something in return. The results have been incredible with countless friends and acquaintances whose lives I have hopefully impacted in a positive way. I consider myself wealthy beyond my wildest dreams through the knowledge that I am helping so many others.

Another aspect of wealth for me is the pride of accomplishment. Yes, I’m extremely proud of all that I’ve accomplished whether it be in my career, civic activities, or avocations. This pride is not something for which I need to be recognized outwardly. Instead, it comes from the satisfaction of knowing that I succeeded at something – often something very difficult. Over the years, this success has added to my overall wealth of being.

I am a very wealthy man when it comes to the diverse and active life I’ve led. I can honestly say that I’ve never experienced a day where I’ve been bored. My waking hours are filled with creativity and new experiences. I always see life in full and glorious color. There is no such thing as monotony in what I do. Also, my health is my wealth. I was adopted and have no idea my genetic history. So, I have worked very hard to maintain great health as though I am constantly at risk. Exercise, eating right, maintaining an optimal weight level, and regular consultations with medical professionals have enabled me to remain vibrant and physically fit.

Finally, my family is a huge source of my wealth. I’m blessed to have had a 52+-year relationship with my wife; two amazing and talented daughters and a son-in-law; three beautiful grandchildren, and a host of cousins and in-laws. Unfortunately, both sets of our parents are gone, but we had wonderful relationships with them while they were alive. Love abounds every single day and has generated pleasant memories that will last a lifetime.

Truly, I believe that I fit the definition of the Wealthy Entrepreneur. Money is a part of the equation but there’s so much more including relationships with friends and acquaintances, pride of accomplishment, a diverse and active life, great health, and an incredible family. I hope that you too can enjoy such bountiful wealth!

This blog is being written in tandem with my book, “An Entrepreneur’s Words to Live By,” available on Amazon.com in paperback and Kindle (My Book), as well as being available in all of the other major eBook formats.