(Editor’s note: Jason Cohen is an angel investor and the founder of Smart Bear Software. This story originally appeared on his blog.)
If you don’t have your health and your family, it generally says, nothing else matters. On your deathbed, will you wish you had worked longer hours or been a better parent? Will you wish you had spent more time Twittering or more time exercising, extending your life by five years?
Compelling thoughts. And yet, in my experience this attitude is not the path to success in small business.
Maximizing your chance for success means sacrificing health and family.
This sounds controversial, but it’s not just me:
- Jeremiah Owyang of Web Strategist: “How do I Keep Up?” This is one of the most common questions I get from folks, or a variant: “Do you sleep?” or “Do you have a family?” I can answer succinctly: “I don’t, in shifts, and yes… I think.” … I’m lucky I fell into my passion. It comes with costs however, I’m out of shape, stressed, I don’t sleep well, and my blood pressure is up.
- Mark Cuban, self-made millionaire and owner of the Dallas Mavericks on how he acheived success: “I slept on the couch or floor … Because I was living on happy hour food, and the 2 beer cover charge, I was gaining weight like a pig. But I was having fun. … Every night I would read [software manuals], no matter how late. … I remember sitting in that little office till 10pm … I would get so involved with learning that I would forget to eat …
- More from Mark in an interview with YoungMoney Magazine: Question: “Did you have to sacrifice your personal life in order to become a business success?” Answer: “Sure, ask about five of my former girlfriends that question. I went seven years without a vacation. I didn’t even read a fiction book in that time. I was focused.”
“So what,” you could argue, “just because many successful entrepreneurs are workaholics doesn’t mean that’s the only path to success.”
Indeed, study after study has shown that “working more hours” doesn’t translate into “accomplishing more shit.” If you’re not getting enough sleep, for instance, working extra hours doesn’t make up for your foggy brain.
Yeah, but here’s the problem.
The “Rule of Closets” is that the amount of crap you own will expand to fill all available closet space. You can create more space by adding shelves and organizers, but then you’ll soon discover you have more stuff.
Well I have a “Rule of Time in Startups”: How much time does a bootstrapped company take? All of it.
Even ten people could hardly keep up with everything you do in small business — creating, consulting, designing, fixing, self-promotion, blogging, networking, bookkeeping, taxes, customer support and cultivation and all those little crappy things like losing an afternoon troubleshooting your fancy outsourced IP phone system that was supposed to let you “work from anywhere.”
One, two, or even three people can’t do everything, so of course it takes all your time. If you’re working a day job while starting something on the side, of course you don’t have time to exercise or play with your kids before bed.
It takes obsession to make a little company go. Forget “passion” — everyone’s favorite word — it’s “obsession.” It’s not just that you love working, it’s that you can’t stop working. You’re putting your entire self on the line — your finances, your career, your ideas.
The obsession is there even when you’re away from the office, having lunch with a friend or reading to your kids. As my wife would frequently point out in the early years of Smart Bear, my “mental and emotional bandwidth” was entirely consumed. You’re physically there, but you’re not really there.
Read those quotes above again and you’ll see not just passion but self-destructive devotion. You don’t put yourself through this meat grinder just because you “like something a lot.”
“If you love it so much, why don’t you marry it?”
Of course those life-coaches are still correct: This isn’t a great way to live your entire life. You need to accept that this is going to happen and ask whether it’s OK to incur this penalty right now. For me, I did all this in my 20’s when I had no kids, I had enough savings to risk everything for a while, and I had a wife who had her own business and who therefore understood how much work it took and why I was spacing out over dinner.
Bottom line: Every successful bootstrapper I know puts work before self. (Until financial freedom is achieved.) I did too.
(Curious what Jason’s wife thought about this? Check out her rebuttal.)