I recently had a lightbulb moment when I was reading Millionaire Fastlane by MJ DeMarco. Despite this book’s cheesy title, many gems of wisdom slapped me in the face to remind me of what we must do to pursue financial prosperity and freedom.
As someone who prospered early in life, retiring by 28, I am very fortunate. However, it’s not enough. I want to earn Beyonce money, so reading books like DeMarco’s help me keep the fire burning.
Here is one KEY philosophy Demarco shares which hit me hard about why so many people struggle to achieve success while others seemingly do it with ease:
What does this mean? Here’s how I interpreted this idea to my own life:
#1. Imbalance of consuming over producing leads to time wasted, opportunities lost, and delay of business/career success. All the times that I am a consumer on Netflix binge-watching, eating out, shopping online or in stores, traveling, hanging out with people, lazying around in the park, etc., was it worth it? Did I spend my time well? Sure, it was fun, but what did I actually achieve?
Unfortunately, what I realized is this: Instead of working on Dandan Global as much as I can, creating videos, my online coaching platform, writing my book, I wasted a lot of time consuming! All of that consumption, while fun in the short-term, bears little residual outcome. I don’t feel any extra happiness from all the activities I did last week, last month, or last year. While memories are fun to cherish in the moment, the reality is, I’m not as successful as I want to be because I didn’t use my time wisely.
In short, too much fun, socializing, and “treating yourself” is detrimental to career and business success.
The better split would be 80% work and 20% play. That would be more suitable for me in this stage of creating my business. Since I have aggressive goals, the split should always be higher than average towards work.
#2. The times where companies and individuals produce well, they profit emotionally, financially, and growth-wise. As a top-billing headhunter, I produced profits for my company in the millions. In return, I received a great income, which I parlayed into more production by becoming a real estate investor and landlord.
Not only did I prosper financially, I learned incredible life lessons from my candidates, clients, and business cases that I witnessed at companies, many of who hired me to work as their headhunter. I got to see how companies who produce under the market average suffer. They lose people faster due to lack of funds to secure the best and brightest talent, while also suffering from a company culture and future prosperity perspective.
#3. Producing and consuming impacts every aspect of your life. Eating too much is a form of over-consumption, which leads to dire health consequences. You watch too much TV, you vacation too often, you play more than you work, all of these are aspects of consuming over producing. All of these habits continue to imprison the majority of people in the 99% and the 9-5.
My road to becoming part of the 1% early in life centered around my capability to produce. If I allow myself to become more consumption-oriented, without a doubt, I’ll suffer those consequences in terms of unachieved dreams.
Interesting observation: The only type of consumption that contributes to producing is reading books (not short articles, websites, etc). Even though you’re consuming a book, you’re actually absorbing new knowledge, which will increase your potential to become a producer.
Knowing the importance of producing, how will you live your life differently?
If we can crack the code and adopt new habits centered around producing, we will experience a more enriched, prosperous, and hopeful future.
If you’re a go-getter with ambitions to achieve the life and career you envision, connect with Dandan Zhu to evaluate new opportunities in headhunting and sales.