3 Keys to Becoming Successful and 1 Key that is False
Notes from my time speaking on stage at events
"How can I be successful?" is something I would often be asked while on stage speaking at conventions in front of a crowd full of executives and eager individuals. What would usually be my answer? Let’s first take a step back as it is truly such a tricky question to answer.
I see lots of self help gurus and financial experts with videos and podcasts all trying to tell you HOW to accomplish it. The truth is, you are getting their own opinion and probably just the way they themselves succeeded in some sort of perceived success. The problem is that it is entirely circumstantial. So many factors go into a situation that one could go “play by play” mimicking them and still fall flat on their face with financial ruin afterwards. In reality, watching or listening to these people are of no help to you and could possibly hinder your own choices by following their possibly faulty explanations. But then, this is "like just my opinion, man".
#1 Key to Success
So back to my original topic. Many times on stage, I get asked what the number one key to becoming successful is. What is my usual answer to this question? A safety net. As in having rich parents. There would usually be a light chuckle or laugh that circles the audience before I'd continue. I had just said something that most people would probably agree with, but are often times afraid to say outloud.
You have to take risks in business, but these risks might be more dangerous if you are using personal income necessary to eat or pay rent and are then using it to buy advertising necessary to better market your business or hire much needed people to build an idea you have. When cash is more limited, you ultimately have to become strategic with your moves and might not take as big of a necessary leap as you possibly need to. Expanding your network is more limited too as you might not be able travel to conferences or even attend local events as often due to their price range. Which makes me wonder who these events are truly catering to anyway? Everything becomes budgeted and limited.
By having a safety net, it's a little easier to take chances knowing that even if it fails your life will continue on as planned. Nobody likes losing money, but it just won’t affect their lives as hard. It’s a major advantage that those that have it can't comprehend or often times don’t like to admit that they have behind them. It's better in business to look like a self made success story than admit that there was something to fall back on in case their risks don't pan out.
There's a statement in the business world about how you should always use someone else’s money to build your business with. People with safety nets are clearly the original idea behind this statement.
#2 Key to Success
Ok, so sometimes I have been asked for more keys and maybe even some people in the audience are sweating now. A portion has already left their seats. Now my audience is a little closer to just the ones I truly wanted to speak with anyway.
The second key is to be well connected through close family friends or even nepotism. Maybe a family no longer has a large multigenerational wealth that is often said to disappear within three generations. They do however have a strong name or ties to a network of other “elite” families that all scratch each other's backs. This assistance could include government connections, easy access to financial investors, or even board members from mega corporations that will be pushing for your success. Nepotism is fairly straight forward. Have a famous wealthy relative? You are already 3 steps ahead of every one else. Does this always mean success? No. But it certainly stacks the deck.
#3 Key to Success
Now, the remainder of my audience is either individuals with none of these items or are just curious enough to see if I put my foot in my mouth one last time on stage before my time is up.
"Being lucky" is my third most important key to success. So many of these self help gurus, influencers, and financial experts actually just got lucky. I could have followed their exact same path 6 months prior to them and ended up with no success. The reason they made the video or podcast in the first place is probably just trying to prove to themselves (or maybe the world) that they are successful. So many businesses we know now as successful were not the first to do what they did. Some of them may have even been worse run than ones that failed. Life isn't always fair and when it comes to business that is even more true.
#1 Key that is False
I usually would then end the discussion by talking about one extra item that society likes to promote as being a huge key to becoming successful. I see it so many times by speakers, authors, influencers, and more... "Hard work". I've seen examples of some of the riches CEOs in the world throwing shade that they only became successful because they worked 20 hours a day for years to build their business. What is usually not included is that they had a safety net from rich parents that allowed them to spend those 20 hours a day on their unprofitable business idea with zero income coming in to pay the essentials of life. For every person who says hard work was the key to their success, there were 100 others who did the same and ended up financially ruined.
It's a bit cliche, but I do believe the statement "Work smarter, not harder" is much more of a valuable statement.
And with that, I usually end my time on stage by reminding everyone, I, too, am just on a stage giving my own opinion about what keys are important to success.
What do you think is the most important key to success?