Why isn't success enough?

A letter from Boris

A few months ago, I attended a party in a massive apartment in Amsterdam. The host was a billionaire who had recently built a full bar in his living room. The guest list was impressive: CEOs, investment managers, and entrepreneurs, among others.

I brought a smoke machine to make the party more exciting. After I’d finished setting it up, the host took me aside,? pointed at another entrepreneur, and said, "That guy really knows what he's doing. His company is now worth 16 billion, and he's still the majority owner."

I have known this other entrepreneur since he started his company. Back then, he had about 30 employees and shared a co-working space that was part of my business. His company has grown significantly since then, and my friend, the billionaire host, was impressed.

The conversation made me think. I was in a billionaire's apartment, sufficiently impressed myself, but even he looked up to someone else. It made me realise that no matter how much money you have, someone always has more. And people compare themselves to those who have more rather than less than them.

Being in that room taught me something crucial about wealth, a lesson you can apply to managing a company, too: it's all about perspective. You can get caught chasing competitors, always looking for more growth, revenue, or market share. Just like how my billionaire friend couldn't stop comparing his wealth to someone richer, companies often fixate on what they lack compared to others.

But what if, instead of always looking upwards, you also look downwards or even sideways? Acknowledge what you've built, the challenges you've overcome, and the value you provide. This doesn't mean you should become complacent; it just means understanding that 'success' isn't an absolute term. Just like 'wealth,' it's relative and ever-changing.

Next time you find your company in a race for 'more,' take a step back. Evaluate what 'enough' looks like for you and your team and what truly matters for long-term success. Because, in business, as in life, there's no definitive finish line. The quest for 'more' is a perpetual chase, and knowing when you've achieved 'enough' might be the key to sustainable success.

What else we’re writing about

?? MindAffects aims to provide a new hearing diagnostics solution for hard-to-test patients. The platform?enables diagnosis of hearing impairments using brain signals.

?? As Kubernetes turns 10, we visited KubeCon EU to ask experts what the future of cloud-native could hold — or what could replace it.

?? By applying machine learning to transaction data, British crypto forensics firm Elliptic has created a new method of detecting money laundering on the Bitcoin blockchain.

?? Lithuanian climate investment firm pays Ukrainian farmers to trap carbon in their soil. Soil carbon credits could be a win-win for farmers and the climate but the science is still sketchy.

??? Europe is falling behind in the race for space-based solar power, but is the price tag worth it for investors?

TNW Conference 2024 - Final Hours to save 300€!

King’s Day is officially over, but don’t worry if you missed the festivities! You have until midnight to get 40% off your business passes, startup and investor packages using code GEZELLIG40 at checkout.

Click here and join the heart of tech in Amsterdam, on June 20-21, 2024.