Getting rich is one thing. Being successful is another.
A lot of rich people think they are successful. But there are a lot of successful people who aren’t rich and vice-versa.
A friend of mine used to be in investment banking. He worked with people who made crazy money, drove fast cars, and live in nice houses. But he observed one day “None of them are happy.” He quit banking.
With that in mind, here are five things you shouldn’t sacrifice just to make a lot of money, whether your business be domains or banking.
1. Your health. What good is a pile of cash if you die of a heart attack at 40? Even if your health problems aren’t as severe, your life is precious. Giving it up in the name of a bigger paycheck is not sustainable.
2. Your relationships. In most cases this is your spouse. I’ve seen a lot of successful people who lose a marriage over a job or career. “My job is more important than my spouse.” I listened to a venture capitalist once tell a room full of college students that his wife asked him one day to make a decision: is this job more important than our marriage? He picked the job. He’s making a lot of money, but I doubt he’s really happy.
The same goes for your kids. Show me a parent who traveled 90% of the time and worked long hours and I’ll show you some messed up kids.
When you’re on your deathbed, your kids and spouse will be there for you. Your Ferrari won’t be there to comfort you.
3. Your youth. A few years ago I chatted with a couple that lamented the fact that they had so little time to pursue their hobbies now that they had kids. “At least you had 5 or 6 years together before having kids,” I noted. “Yes, but we worked so much during those years that we didn’t enjoy it.” Bummer.
I’m guilty as charged. I took a job right out of school that paid a heck of a lot more than most jobs and I worked 80-100 hours a week. To be sure, there are times in your life when it may make sense to work long hours. But you have to keep it in balance, and giving up your 20s isn’t worth it.
4. Your passion. Look, there are a lot of ways to make money. Some of them are rather easy. But you also have to enjoy what you do. I see so many people (often lawyers, consultants, and other service professionals) who don’t like what they do but can’t give up the lifestyle. You need to be passionate about what you do. Not only will you do better at something you are passionate about, but you’ll feel better, too.
5. Your happiness. If you pay attention to numbers 1 through 4, happiness should follow.
Patrick Mcdermott says
“When you’re on your death bed, your kids and spouse will be there for you. Your Ferrari won’t be there to comfort you.
This reminds me of something I read some years ago and never forgot:
“On their deathbed, no one has ever wished they had spent more time at the office”.
Very thoughtful article, Andrew.
Patrick
Jamie Parks says
Awesome write up man… Success is definitely a balancing act. You touched upon the windfalls and the real falls those fortunes can sometimes cause.
It’s not easy satisfying everyone in our lives, but as long as we don’t lose focus of the most important and most valuable pieces of our life then all is good.
Reminds me of a insightful song that Jeff Buckley and Johnny Cash both sang with such grace, “A Satisfied Mind”
Listen to it again even if you’ve already heard it. Always sobering.
http://www.seeqpod.com/search/?plid=48f9963bfd
John says
Excellent info Andrew. I enjoy this blog even more knowing that others realize the real importance of life vs. money
Nice Job
Rob Sequin says
Life lessons at domain name wire!
Great article.
Ramiro says
Excellent advice! When I was teaching at UT-Austin, I told my students to always follow their passion. They often wondered why I had so much energy even though I had four jobs: lawyer, lobbyist, professor, and domainer. My response was simple: If you enjoy what you do, it is not work 🙂
Maestrus says
Thanks Andrew for this point, it is good to have it always in mind. And with the link of the couple of songs that Jamie Parks posted, it’s a complete message!
Thank you for sharing this with us.
GR
Steve Luvender says
Well, #2, #3, and #5 are all gone for me. I’d better make a killing from domaining to get #5 back.
Bruno says
Great Post!
I am a big fan of Warren Buffett. With the values you showcase here, I am sure you have listened to one his talks. If not, please do so, you’ll enjoy it.