January 17, 2018

CEO School: Rich or Happy?

Interesting question! How would you answer it?

Many people would say Both, but the question is asked as though the choices are mutually exclusive, forcing you to select just one.

People who answer Rich might think they will be Happy when they are Rich. That's a big mistake, because Rich always seems to be Not Now, and only maybe in the future, if everything works out.

That's the typical entrepreneur mindset. You've probably heard it before:

“Entrepreneurship is living a few years of your life like most people won't, 
so that you can spend the rest of your life like most people can't."

The fallacy in this plan is that the overwhelming percentage of startup entrepreneurs will either fail absolutely, or spend their days running a business that barely clings to life. They will not be Rich, and therefore will not be Happy. Lose/Lose.

Wise Words!

How much is Rich? What is your number? Ask the guy who is flipping burgers and he will tell you his number is 100 grand, or a million. Ask someone with 10 million and he will tell you it's 100 million. Ask the guy with 100 million and he might tell you he wants a billion. And it depends on other factors, such as the country you live in.

To me, Rich is a factor of Net Worth (Assets minus Debts), and disposable income. My mantra is "No toys on credit." In fact, I have avoided all debt for the last 30 years. That brings me big peace of mind, which for me is an essential part of being Happy.

Bill Gates says being a billionaire is overrated: 'Once you get beyond a million dollars, it's still the same hamburger'.

Rich always seems to be just out of reach, sometime in the future, but Happy is a state of mind that can be achieved right now, regardless of the bank account. 

Most people are about as happy as 
they make up their minds to be.
Abraham Lincoln

Happy starts with Gratitude for who we are and what we have right now. Focus on the positive in life and be one with that. 

If you focus on being Happy, right now, as you continue to work to become Rich, the odds are greatly improved that you will become Rich, and truly enjoy the journey.

Another key ingredient in being Happy is being Healthy. To me that means low stress, excellent nutrition, exercise, and having good relationships with excellent people. I focus daily on being Healthy, mentally and physically, and Happy seems to follow as night follows day.

Men find happiness neither by means of the body nor through possessions, 
but through uprightness and wisdom. 

Yesterday I was clever, so I wanted to change the world.
Today I am wise, so I am changing myself.

Who is wise? He that learns from everyone. 
Who is powerful? He that governs his passions. 
Who is rich? He that is content. 
Who is that? Nobody. 
Benjamin Franklin


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