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MOBE Daily #50

“Don’t start a company unless it’s an obsession and something you love. If you have an exit strategy, it’s not an obsession.”

— Mark Cuban

Hey,

I’ve been asked the question before, “how do you balance relationships and your business?”

My honest answer;  with great difficulty. 

If you want to build a big business and accomplish big goals, you’re going to need to make your business a major priority in your life.

This doesn’t mean that everything else becomes secondary.

But it does mean that there will be times when you can’t be as available as others would like you to be.

This is something most people can’t accept.  Most people, being employees themselves, don’t really understand the level of commitment, focus, and obsession an entrepreneur needs to have.

They won’t understand why you seem to always be in a rush, and why you look at time with a completely different lens than they do.

They will rarely understand why you don’t seem to be able to ‘switch off’ thinking about your business.

They’ll propably lable you a ‘workaholic.’

They might tell you that you are obsessed with your business.  They might even try to make you feel guilty about all the time you’re spending on your business, and away from them.

I’ve experienced all these things, many many times over the last 10 years.

It takes a very understanding partner, and very understanding friends / family to accept that you’re never going to be as available as most ‘normal’ people are.

Here’s what billionaire Elon Musk’s ex-wife said about him on Quora:

“Extreme success results from an extreme personality and comes at the cost of many other things. Extreme success is different from what I suppose you could just consider ‘success’, so know that you don’t have to be Richard or Elon to be affluent and accomplished and maintain a great lifestyle. Your odds of happiness are better that way. But if you’re extreme, you must be what you are, which means that happiness is more or less beside the point. These people tend to be freaks and misfits who were forced to experience the world in an unusually challenging way. They developed strategies to survive, and as they grow older they find ways to apply these strategies to other things, and create for themselves a distinct and powerful advantage. They don’t think the way other people think. They see things from angles that unlock new ideas and insights. Other people consider them to be somewhat insane.

Be obsessed.

Be obsessed.

Be obsessed.

If you’re not obsessed, then stop what you’re doing and find whatever does obsess you. It helps to have an ego, but you must be in service to something bigger if you are to inspire the people you need to help you (and make no mistake, you will need them). That ‘something bigger’ prevents you from going off into the ether when people flock round you and tell you how fabulous you are when you aren’t and how great your stuff is when it isn’t. Don’t pursue something because you “want to be great”. Pursue something because it fascinates you, because the pursuit itself engages and compels you. Extreme people combine brilliance and talent with an *insane* work ethic, so if the work itself doesn’t drive you, you will burn out or fall by the wayside or your extreme competitors will crush you and make you cry.

Follow your obsessions until a problem starts to emerge, a big meaty challenging problem that impacts as many people as possible, that you feel hellbent to solve or die trying. It might take years to find that problem, because you have to explore different bodies of knowledge, collect the dots and then connect and complete them.

It helps to have superhuman energy and stamina. If you are not blessed with godlike genetics, then make it a point to get into the best shape possible. There will be jet lag, mental fatigue, bouts of hard partying, loneliness, pointless meetings, major setbacks, family drama, issues with the Significant Other you rarely see, dark nights of the soul, people who bore and annoy you, little sleep, less sleep than that. Keep your body sharp to keep your mind sharp. It pays off.

Learn to handle a level of stress that would break most people.

Don’t follow a pre-existing path, and don’t look to imitate your role models. There is no “next step”. Extreme success is not like other kinds of success; what has worked for someone else, probably won’t work for you. They are individuals with bold points of view who exploit their very particular set of unique and particular strengths. They are unconventional, and one reason they become the entrepreneurs they become is because they can’t or don’t or won’t fit into the structures and routines of corporate life. They are dyslexic, they are autistic, they have ADHD or ADD, they are square pegs in round holes, they piss people off, get into arguments, rock the boat, laugh in the face of paperwork. But they transform weaknesses in ways that create added advantage — the strategies I mentioned earlier — and seek partnerships with people who excel in the areas where they have no talent whatsoever.

They do not fear failure — or they do, but they move ahead anyway. They will experience heroic, spectacular, humiliating, very public failure but find a way to reframe until it isn’t failure at all. When they fail in ways that other people won’t, they learn things that other people don’t and never will. They have incredible grit and resilience.

They are unlikely to be reading stuff like this. (This is *not* to slam or criticize people who do; I love to read this stuff myself.) They are more likely to go straight to a book: perhaps a biography of Alexander the Great or Catherine the Great or someone else they consider Great. Surfing the ‘Net is a deadly timesuck, and given what they know their time is worth — even back in the day when technically it was not worth that — they can’t afford it.

I could go on, it’s a fascinating subject, but you get the idea. I wish you luck and strength and perhaps a stiff drink should you need it.”

This is the side of being an extremely ambitious entrepreneur which rarely gets talked about.

Often sacrifices are made, and people get hurt.

I wish I could give you some more upbeat and useful advice on this.  But I can’t.

All I can say is, try to find extremely understanding people to have relationships with, and, to maximise the quality of the time you do get to share with them.  If you’ve got people like this in your life, consider yourself extremely lucky.

Why You Should Have a Business To Optimize Expenses (And The Best Way To Save Money On Taxes)

You’ve heard about the many advantages to owning a business compared to working in a job.

You don’t have a boss telling you what to do. You control your own hours. There is no ceiling to the money you can make. You can work wherever you want.

There’s another advantage that’s not talked about as much. Tax structures are often more favorable to business owners than to employees.

In this video, filmed at the Platinum Mastermind in Fiji, Paul O’Mahony compares the differences in tax structures for someone who works in a job and someone who owns a business.

MOBE Daily#50-1

The 3 Voices Of Selling

Whether you’re selling on the phone, in person, from the stage or on video, the tone of your voice has to be spot on.

The wrong tone of voice can leave your customer feeling annoyed, intimidated or lost.

The right tone of voice will make your customer excited and confident to do business with you.

In this video, filmed at the Titanium Mastermind in Los Cabos, Mexico, Curtis Broome describes and demonstrates the 3 different tones of voice that are commonly used when selling, and which is the best.

MOBE Daily#50-2

How To Make $4 Billion In Your Sleep

There are two reasons to invest your personal wealth.

One reason is financial safety and security. You invest because you don’t want to lose all your hard earned money – to taxes, to inflation, to living expenses.

The second reason is that investing can bring you passive income. You can make money without giving up your time and energy – even in your sleep.

With enough starting capital and enough time to grow, you can make a staggering amount of passive income from a simple investment vehicle such as an index fund.

In this video, filmed at the Platinum Mastermind in the Canary Islands, Robert Rohil suggests a realistic scenario of an entrepreneur making $4 billion purely from a passive investment.

MOBE Daily#50-3
Talk soon!

Matt Lloyd

Matt Lloyd

Matt Lloyd

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