Is it ever possible to work 9-5 as an entrepreneur?

[TreyAllDay]

Are there any fastlaners here who have been able to successfully transition from the 14 hour days to a reasonable 7 or 8 hour day? After working the last 5 years at almost 14+ hours a day , I've been trying to work my way down to a typical 8 hour day.

I'm curious to hear what some of your experience has been, whether you've learned to love the 14+ hour days, or have you learned to get more out of your 8 hour day and why? I read guys like Grant Cardone who seem to talk about finding love in hard work

 

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[Rivoli]

The richest guy I know (makes around 5 million a year) barely works. He started a soap company that has grown a lot and runs basically on cruise control. He comes in like 6-8 hours a week max.

 

[SteveO]

I have found success with long hours for a couple years followed by a break for a couple years.

 

[Atu]

1. Try thinking where your work goes. Are you working on your business, or maybe you are working in your business?
2. It all depends on your ability to build a self-regulating system. You have to observe your business, acknowledge when and where your interventions go, after that apply wise organizational mechanisms to prevent the need for your presence in the future. All books about TOYOTA are helpful here.
3. Almost all businesses can be divided into chunks of same-type work: marketing, production, warehousing, deliveries, etc... Can you effectively divide your, hire someone or outsource it and for the price of money buy some time? If the hired person still needs you, why?
4. What style of a leader are you? Do you just give people a vision and let them go create? Are you a micromanager who absolutely needs each fingermove of your people? There are of course many more styles that that...
5. What your employees know about their job. Are they all informed about WHO, WHAT, WHERE, WHEN, HOW?
6. What are your employees supposed to do when something break down? Go bother boss? Solve it using XYZ?

 

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[The Abundant Man]

The richest guy I know (makes around 5 million a year) barely works. He started a soap company that has grown a lot and runs basically on cruise control. He comes in like 6-8 hours a week max.

I know who does this. He owns a few restaurants making 1 mil/year. But is gone on vacation all the time.

 

[MythOfSisyphus]

I've scaled back to working around 6 hours a day and still make more than 10 times what I did at my job where i often worked 12 hour days.

I got here through ruthless prioritisation, outsourcing and automation. (the e-myth and the 80/20 principle where a huge help to me in these areas)

I'm still happy to work long days here and there and I still really enjoy building the business but I also have 2 young boys and spending time with them while they're still little is important to me.

 

[LPPC]

Good topic. I think for every one it is different but in my case I do less good business when i work more than 4 fully focused hours work per day. If i work more, then i become less happy and thus more fearful, less clarity, less creative and worse at decision making. I think working less might even make you achieve more. Self awareness is key in seeing what certain behavior has as consequences.

 

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[maverick]

I got here through ruthless prioritisation, outsourcing and automation. (the e-myth and the 80/20 principle where a huge help to me in these areas)

This also forces you to be productive when you work. Instead of 'making long hours' not actually doing anything productive / procrastinating.

In my opinion the hardest, but most important, transition from employee => entrepreneur.

 

[TreyAllDay]

Lot of great advice so far.
I started researching different methods and I think I need to evaluate how I spend my time in the day...