Self-made millionaires agree on how many hours you should be working to succeed

Self-made millionaires agree on how many hours you should be working to succeed

Entrepreneur and New York Times-bestselling author Grant Cardone was deep in debt before building his multimillion-dollar fortune.

What sets the self-made millionaire apart from the rest of the population, he says, is how much he works: "Most people work 9-to-5. I work 95 hours [per week]. If you ever want to be a millionaire, you need to stop doing the 9-to-5 and start doing 95." That comes out to about 14 hours of work a day.

Ultimately, "if you can outwork the rest of the population, you're going to get lucky," Cardone tells CNBC. And once you do start seeing success, don't change your mentality: "If you gave me $5 billion, I'd still be grinding tomorrow."

He's not the only millionaire who says you should be spending more than 12 hours a day, seven days a week, pursuing your goals.

Gary Vaynerchuk, founder and CEO of digital marketing company VaynerMedia, says that if start-up founders want to make it, they should put in at least 18 hours a day for the first year.

In launching a business, "you have made a decision that does not allow you, in Year One, any time to do anything but build your business," the self-made entrepreneur says. "Every minute — call it 18 hours a day out of 24 — if you want this to be successful, needs to be allocated for your business."

"I think one of the biggest reasons so many people go out of business in the first year, first two years … is they don't realize how hard it is and how all-in you have to be," Vaynerchuk says.

Self-made millionaire and "Shark Tank" star Daymond John has a similar perspective. Ultimately, the secret to success boils down to one thing, says John: "Work. Bust your butt. Get up before everybody, go to sleep after everybody, and bust your butt. That's it."

Originally published on CNBC

my boss just sack me becos i had cancer

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Peter Nguyen

CEO and founder, OES (AI Company), digital marketing teacher, business consultant, author

7 年

My father became a self-made millionaire, but it doesn't seem like he worked so hard. He also had a full-time job. I agree with this article, but I think some balance is needed. As a consultant to many entrepreneurs since 2005, I did notice how most of them worked really hard, and long hours too. But they didn't know what they were doing. Lack of business education and training. Lack of creativity. Lack of sales aggressiveness and proactivity. So I have to conclude that hard work and even long hours are not enough, and in some cases, might mislead people to think they're on track. But overall, relentless focus on one's startup and accelerating in ONE direction is vital, just as a plane on the runway cannot take off unless we accelerate in ONE direction and go full throttle!

Dean Hart

New Strategies Online, LLC

7 年

'I Create Everything' #WIT #marketempowered

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Santhosh K V

Finance Analyst

7 年

Yes working hard is important but we should work smart too.

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Patrick MENARD

ASK AND YOU WILL KNOW...

7 年

Burn out, no ! But you'll maybe die !

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