The Myth of Working Hard

on July 17, 2014 Business Life, Startups and Tags: , , , with 0 comments
Myth of Working Hard

Does hard work ensure success? No, but it does increase your chances. A respected person once said, the harder you work, the luckier you get. Nonetheless, the myth of working hard to bring about success can misplace someone’s priority.

They keys to success are multiple management of priorities in your work life. While hard work is definitely a contributing factor, I weigh some other factors that may be more important. You may work hard but still achieve less than someone who coasted through but did more planning or exercised some leverage. To bring this point home: Does Bill Gates work harder than a typical lawyer or banker in New York? Probably not.

Here’s some key factors and priorities for you to dispel the myth of working hard.


Embrace Delegation

If you are a control freak like myself and think you can do things better and faster than someone else, this advice is for you. I admit I am still struggling with this, but it is a good thing to exercise. You can only do everything yourself to a certain point in your career or business. The truth is, the aggregate work of many will always be more than a single person. We are not talking productivity per person here. If you had a business where you want to be in control of everything, it will not grow, because you are spending all your time doing simple nuances which you think will screw you up if someone else did it wrong. The truth is, with empowered employees, you have more time to focus on important tasks like sales development. Learn to delegate and plan ahead potential employee mistakes, then train them. This is why businessmen make more than employees. It is because they leverage on many employees working for them, while being an employee only earns you the wage you worked for.


Embrace Investment/Investors

If you are at a certain point of your business where growth has stalled, or are struggling to get your startup’s sales moving, perhaps it’s time to stop bootstrapping and get more capital. There are some businesses that you can  bootstrap and still succeed. These are businesses that offer intellectual services like marketing firms, brokerage firms, consulting firms, etc. You can bootstrap because you do not need capital (to buy revenue generating assets) to make revenues. With almost every other business, you almost need the minimum startup capital to properly launch.


Work Smart

Don’t get tied down to distracting unimportant tasks. Avoid the need to resolve everything before moving to more pressing issues. Learn to prioritize your time and focus on the bigwigs. The myth of working hard is debunked by working smart because working smart is more effective.


Don’t Be Cheapskate

If you are generating profits and there is a lack in your business, pay someone else who is better than you to solve the issue. Don’t try to solve it yourself if you have already attempted and failed before. An example is public relations management or advertising and promotions. The people who work in these firms live and breathe advertising and PR. Your couple thousands saved by not engaging them could cost you hundreds of thousands in lost revenue if you did engage them. Choose your vendors carefully, however. You need to research and determine who is effective and good at their job.


While following these points will surely not guarantee you success, thy are great advice. Take them and include them in your focus toward your goal.


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Up to 8 Methodologies Used:

1. Income approach: 3 methodologies.

2. Market approach: 3 methodologies.

3. Asset approach: 2 methodologies.