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How can someone work every waking hour???

Discussion in 'General Entrepreneur Discussion' started by Will-v-the-World, Dec 20, 2018.

  1. Will-v-the-World
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    Will-v-the-World Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    There are all of these people that say a real entrepreneur should be working from 5:30 a.m. to 2:30 a.m...

    How is that even possible?

    So far, the majority of my entrepreneurial experience has consisted of 1. figuring out what to work on next to get the best results, or 2. waiting for results after taking action so I can move on to taking more action.

    Should I be filling the empty space with a new business? Will things speed up when I have a decent, consistent income to reinvest in my business?
     
  2. PizzaOnTheRoof
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    PizzaOnTheRoof 1% Better Every Day Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Nobody besides Elon Musk works that much, and it’s certainly not healthy...

    I don’t think sacrificing your happiness now is necessary to be successful. Just set goals and systems to make consistent progress towards your ideal lifestyle.
     
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  3. Will-v-the-World
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    Will-v-the-World Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    But if my ideal situation is semi-retired by mid-twenties, I'm sure I have to sacrifice some amount of happiness. I feel I should probably be working a lot more than I am, but I think the 2 problems I listed are preventing me from it.

    How much do you guys think I should be working to reach that goal^?
     
    Last edited: Dec 20, 2018
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  4. Ninjakid
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    Even Elon doesn't work that much anymore. When he did he admitted it was taking a huge toll on him.
     
  5. minivanman
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    Define work. 95% of my awake hours my brain is thinking of ways to make more money.

    As for waking up early, I'm not on that bandwagon. I think whether you wake up at 5am, 8am or 2pm, you can get the same amount of work done if you do it correctly. I can tell you I am a power-napper. I can take a 30 second nap and be wide awake for another 3 minutes..... just joking, I can take a 30 second nap and be wide awake for another 5 hours and do it all again. :zzz:
     
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  6. RazorCut
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    The honest answer is it isn't and is probably only put out there by slowlaners trying to justify why they can't build a business of their own. The truth is that many successful entrepreneurs actually work less than they do.

    I think the secret to being a successful entrepreneur is leverage and balance. Leverage as in delegation of tasks; Work out what you are worth per hour. If you can pay someone else less to do the same job then pay it, your time is more valuable used else where.

    Leverage as in always applying Pareto's Law. Determining what 20% you can do that will provide 80% of the results be it increased turnover, lower running costs, higher average customer spend etc. etc. and commit your time to that.

    Balance as in Work/Life. No point in burning yourself out or alienating yourself from your family and close friends. Taking care of your health is critical. If you are really doing 20 hour days living on fastfood, cigarettes and caffeine how long do you think you could maintain it? Not long is the answer. Don't get me wrong we have all burned the midnight oil when we had to but it's the exception rather than the rule.

    Here's a chart of how Elon Musk apparently divides his day. 12 hours is not that much work wise. Many self employed people do more than that and it will be hard graft, not overseeing which is what Mr Musk would be doing most of the time considering the scale of his operations and the volume of employee's he has.

    2018-12-20_07-22-57.jpg
    Compare that with a junior doctor who is on their feet and on the go in a very stressful position for 80 hours a week or an associate in a top 10 Law firm doing 60+ hours for a fraction of the remuneration.

    I've worked very long hours for months at a time to accomplish a given task but once you get there you take a well deserved break and cut back to something more normal. As far as sleep is concerned 6-7 hours is a decent quantity I get around 6 to 6.5 on a good night.

    If you are still curious you could always pole the Fastlaners here for a more accurate idea.

    -
     
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  7. RazorCut
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    I've found a 20 minute power nap can be an amazing refuelling experience for my brain and body. The trick is to time it just right and for the right duration so certainly before 3pm. 15-20 minutes is usually enough to go through stage 1 sleep (that drifting off feeling) to stage 2 (slowdown of brain activity) but no further otherwise it ends up leaving you tired and groggy afterwards.

    -
     
    Last edited: Dec 21, 2018
  8. GoGetter24
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    Those numbers aren't possible. Even Musk says he sleeps 6.5 hours a night because he has to.

    The other aspect is an hour of work isn't a fixed unit of stress. If you're doing highly stressful work, you just can't physically maintain it longer than 8 hours. If you're doing easy work you enjoy, working dawn to dusk is easy.

    Most of the "work" a lot of the braggarts do is actually just running their mouths, in meetings, on the phone, flying around, business lunches, etc, which has a small fraction of the stress as grinding a way at a tough problem at the edge of your abilities.
     
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  9. kanunay
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    I think it depends on how a person's brain/thought process works. Many years ago, I was working on a project I really enjoyed - it was a large, complex software project. I would think about it all the time - while eating, while mowing the lawn, in the shower, at night trying to fall asleep. I was working, every waking hour, even though I wasn't in front of a keyboard all that time.
    Perhaps some/most people aren't like that. I'm still that way, although not as intense as I get older...
     
  10. jpanarra
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    You guys are dropping elon musk's work schedule. First of all, He's an anomaly in terms of business sense and driving force. On top of that he pays people to allot his time and assists him on what he needs to work on and he just follows it and focuses on the task on hand. He's laser focused in the times he has assigned to him.

    We as aspiring millionaires (hes an billionaire) cannot afford that kind of expertise. Its his team that makes the difference, not only himself.

    Its not considered 'working' every waking hour if you're just 'doing'.

    I don't know if that really is clear enough. I've started to recognize the difference because when I hit my stride, things get done and time is just floating by with no strain or despite of what I'm doing like i have at my 9-5 job.

    What I do know that has helped me was the practice of time blocking in the morning that boosts my productivity. When the time comes I will assign my VA to do my timetabling (its time consuming everyday it takes me .5-1 hour) for me so i can just focus on the task on hand when I wake up.

    Here's a good video on how to do it.



    Its how I manage a full time job, a family of 3 kids, digital marketing agency, and a few e-com stores.
     
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  11. Kraelog
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    Well, that time schedule (5.30-2.30am) is just ridiculous, no human in history can work 21 hours a day (147 hours week 0_0). Even Elon Musk, who is pretty much in the 0.000001% of work ethic, is working 10-12 hours a day every day.

    That being said, if you truly want to live an exceptional life, you will need to work exceptionally hard.
     
  12. TonyStark
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    No, that’s why we put systems in place & hire employees so we can make money while we sleep.
     
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    I'm not a doctor, but I'm pretty sure sleeping 3 hours every night for a long period leads to, at least, serious health problems. In some extreme cases, the lack of sleep leads to plain death (mentioned on Learning How To Learn course on Coursera). If you want to be an entrepreneur and play the long run, you need to take care of yourself. There might be some exceptional days when you can sleep for 3 hours, but that's not even half of the sleep a normal person needs.

    I think that being obsessed with working "many hours" is a big mistake. How do I know? Because I've been obsessed as well, and I'm still trying to get rid of that mentality. But I'm starting to see that's the wrong metric. I'm using the Pomodoro technique, and I get much more done that before, working the same amount of hours, or even less. It's not about quantity, but quality. If you work for 10-12 hours a day but don't make the most of that time by having laser focus, then there is no point in forcing yourself to sit on the chair for that amount of time. What would you prefer, 2x, or even 3x productivity for 30 minutes intervals in, let's say 8 hours, or 1x for 12 hours?

    I also read recently that after more than 50 hours per week, productivity declines too much to pay off the effort and the cost it creates over time.
     
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    I can't, for the life of me, figure out what these people are doing that requires 25 hours and 12 Red Bulls in a day.

    What I have noticed is that these people might make a respectable chunk of change, but not crazy stuff. Even so, what the hell is the point of the money if you can't enjoy it?

    My guess is that these are people that refuse to delegate task work.
     
    Last edited: Dec 20, 2018
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  17. Telamon25346
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    in my honest opinion, working that hard is only for a specific type of person. the common buzz and misconception about entrepreneurs nowadays is that "they should work as hard as a billionaire" or something like that. (at least that's the atmosphere i'm getting from grant cardone, gary vee, tai lopez, and other instagram videos and such).

    If you have a good business, and you're working to improve it's value to your customers, that should be it. in the free time you have you can work on improving yourself, exercise, read, spend time doing what makes you happy, etc.
    if you want to start another business to fill in the time go ahead, but i feel that it would take away from valuable time to grow, improve yourself, and just meditate. the kind of work style that most gurus promote sounds like the way a billionaire would work, and they have to work like that because of the size and nature of the businesses they run. even then it's not easy for them, elon musk almost bankrupted both of his business simply because he wanted both of them to succeed. and who knows what type of toll he takes physically because of the way he's working.
     
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    And at some point you will experience diminishing returns. You end up making poor decisions, your health suffers, your relationships suffer, etc.

    For the most successful people, it is not a measure of how much time they spend, but a measure of how they spend their time.

    Their time is spent super effectively. No one can put in 20 hours of effective work. 6-8 hours of super focused, effective work is far more impactful than 20 hours of bro-hustle and grind.

    Will there be days where you have to put in crazy long days? Absolutely.

    But if it’s a regular occurrence something is wrong. I agree with @Kak that these are people who aren’t leading or delegating or building systems.
     
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    I dunno... all I can think of is:

    “You can’t invoice for input.” (Blaise Brosnan)
     
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    I don't know how either.

    When I read books from like a thousand years ago, it seems highly effective people used to be concerned about the value of one hour rather than the actual minutes in one hour.

    I mean some used to go out in the desert/woods/mountains for days or weeks just wondering about the universe and learning "lessons" from nature whilst now it's like "how many hours did we spend grinding today?!!"

    I'm not saying we should go out in the mountains for weeks but what about family, hobbies, relationships, spirituality, worldly desires etc. etc.
     
  21. Ninjakid
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    Another point about Elon:

    His work ethic isn't really a skill, it's just the way he's wired. If you watch his interview with Joe Rogan, he mentioned that he's always been like that even when he was a kid and thought he was insane. He even said he can't really shut it off and he's afraid if he used the sensory deprivation tank, his brain would overpower him.

    He has so many projects on the go, that I'm willing to bet his side-projects are just the result of him trying to full his time in.

    Some people just have manic personalities and can't help it.
     
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  22. Will-v-the-World
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    Will-v-the-World Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    So...
    1. The market doesn't reward busywork
    2. Leverage others
    3. Quality of work over quantity
    Does this mean you guys disagree with the poptrepreneurship Gary Vee 'work 24/7' idea?

    That's good. I was beginning to feel like a slacker for not being able to grind from dusk to dawn every day, but you guys confirmed that if you're able to do that, you're probably doing something wrong.

    By the way, I meant the whole "5:30 a.m. to 2:30 a.m" thing as an exaggeration, I see how it wasn't clear, however. I'm not sure exactly how many hours those guys really promote but it's something insane like that.
     
  23. 404profound
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    The saying "work smarter not harder" was coined for a reason. It's possible to run laps around the guy working 20 hours if you put 10 hours into the right actions. But not having a plan.. that'll have you working 20 hours with nothing to show.
     
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  24. lewj24
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    Walmart employs 2.1 million people. Let's say the average worker puts in 30 hours per week. That means the Walton family gets 63 MILLION hours worth of work done in ONE WEEK. I'm not sure how many lifetimes that is but delegation is key. Nobody can do it all themselves.
     
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  25. 404profound
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    Now I just got curious to do the calculation...

    Assumed lifetime age: 75 years
    Number of hours in lifetime = 75 * 365 * 24 = 657,000 hours
    Number of lifetimes worth of work per week = 63,000,000 hours / 657,000 hours = 95.89 lifetimes

    sheeeeiiiittttt
     
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