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| photo credit: throgers via photopin cc |
In "The 7 Habits of Highly Effective People,"
Stephen Covey described those who work hard climbing the ladder of success only
to find themselves years later standing atop the wrong wall. How does this happen
and what can you do to solve the problem?
Chasing Money
Many wind up in this undesirable place because they spend
their days chasing money, hopping from one big thing to the next. In a recent forum
discussion, one of the participants said he has no interest in
"serving" or "offering value to the market place." He
claims he is into entrepreneurship solely for the money. "I build lists to
monetize them," he proclaimed. I doubt he has "monetized" much
of anything.
If this is how you approach entrepreneurship, then good luck
because the riches do not come easy or quick. This is the type of attitude that
causes people to jump from one thing to the next without ever giving an idea
enough time to take hold and "tip."
Finding and climbing the right wall requires tapping into
something greater than the desire for money, fame or notoriety. The days will
be long with the outcome often unpredictable. The desire for money is not
enough to remain on the roller coaster.
Chasing the Joneses
So, your neighbor bought a new car. Not one to be out done,
you decide to get one too. Whether cars, fancy vacations, home improvements or
the latest gadget, people make a sport of keeping up with friends and
neighbors.
By contrast, a good friend of mine brags about how little he spends on clothing, cars and
electronics. The thrift store is his favorite place for shopping, and he has as
much as $100,000 cash on hand in the bank.
Over almost 20 years, he built a real estate business and
retired early from his job. Everyone he worked with had the same opportunity, but
they squandered years of time and earnings keeping up appearances.
What is his secret? He loves rental properties and taking
care of his tenants. One day after purchasing a fancy, stainless steel
refrigerator for one of his apartments, he turned to me and said, "See how
well I take care of my tenants? This is why everyone wants to rent from
me."
Changing Walls
Once a person realizes they are standing on the wrong wall,
they have but three choices.
1. Stay put and / or keep going - This is the most common
choice. They soldier hoping things will get better. It seldom does.
2. Make a hard pivot - Chuck it all and follow your
passions. This approach is risky, scary and hard on those closest to us. Few
people have the courage to make such a move, which is understandable considering
the amount of obligations piled up while chasing down the Joneses.
3. A gradual pivot - This is the safer choice and easy
enough for almost anyone. A gradual pivot is when you decide to get off the
wall within a certain timeframe, be it a year or 2 or 3. The first step is
deciding where you want to be by that time, and then laying the groundwork to
get there.
Start with the end in mind as Covey put it, and get to work
on reaching your destination.
Stop taking on new clients for that business you want out of
but maintain good service for your existing customers. Take college courses
part time to get your degree in philosophy as a first step to becoming a
professor. Make friends with those in the industry you want access to. Start
your dream business on the side and take your time building a loyal clientele.
The choice is yours.
Despite the relative ease of this approach, most would
rather die on the other wall than risk judgment and ridicule from
"friends." Misery still loves company. So, who do you keep company
with?
Godspeed and I look forward to seeing you in The Players Lounge.
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