How often do you think about having more time, being your own boss or freedom to travel the world?
If you've never thought of setting your goals in life then today is the day to sit down and think about your long-term future. The mindset we have is the more hours we work, the faster we gain success. Well, that is not true and you'll know why in today's podcast.
What's Covered in This Episode:
Links From This Episode:
This podcast is also available in video form. Click ‘Play’ below to start watching. Make sure to subscribe to our YouTube Channel for weekly updates and insights!
Hey, what's up everybody? Anton Kraly here from ecommercelifestyle.com, and welcome back to the podcast. In today's episode, I want to talk about something that is pretty much a trend right now, which is hustling, grinding, putting in those late nights, those all nighters, those early mornings, those long weekends, and working like crazy to be successful. And what I want to kind of share with you in this episode and walk you through is why you really don't need to work 80 hours a week to be successful, and it's a misconception that is, I think, bad for a lot of people. I mean, one, just from a mindset thing. A lot of people don't want to work that much, so they never try, because they think that's what's required. And even on top of that, for the people that do put in those hours, it's just not healthy. I mean, unless you really enjoy it, unless you work in a way that it makes your lifestyle better, for a lot of people, it's just draining, and I really do feel like something that could shorten your life and definitely affect your mood and your happiness.
So to start this episode, I think the first thing that you should look at if you're trying to decide what you should do and how much you should work, is what success actually looks like to you. And it's funny, because for the first, I don't even know, five years in business probably, I really didn't spend enough time at all thinking about this. I just kind of went through the motions of doing business and growing, but once I took the time to really sit down and think about my life in the longterm and look further out, I could see a clear picture of what I actually wanted for success, what would make me the happiest. And I won't get into that in this episode, because I've already done one. It's called In 20 Years. So if you haven't heard that episode of the podcast yet, look for a link in the description. I take you through my process there. I also give you my spreadsheets for kind of calculating where you need to be.
Now, once you know what success looks like to you, the next thing you want to figure out is, what is the vehicle? What is the business model that you're going to be using to get you towards success? And once you do that, the next thing to look at is the key levers of success for your chosen business. What are those few things that matter most? Because that is where you are going to want to focus your time.
So let's just say hypothetically that to you, success looks like making $20,000 a month net profit. That's the money that stays in your bank. $20K a month. Let's say to you, success also means never having more than three people on your team and all of those people being virtual assistants. And maybe that's because you don't like managing people, and you don't want to have an office somewhere with 100 people in it, right? You want to keep it small, you want to keep it tight, you want to keep it efficient.
And let's say to you, success also means committing no more than 20 hours a week to your business. Not saying you're only ever going to work 20 hours, but let's say that's what you're comfortable saying, "I will 100% do this, and anything above and beyond is because I want to." And let's say another key to success for you is the ability to work from anywhere in the world. Maybe you would like to travel, maybe you have family in different places, maybe you are into gold and you want to play all the best golf courses in the world and be able to generate that $20K a month as long as you have your laptop with you.
So once you have that, you have it clearly defined. Again, the next thing to look at is, what is the vehicle that you will be using? And let's just say that for that business model, you're going to use dropshipping, because obviously that's what I do. That's what I recommend. And boom, now you have your vehicle, right? You're not going to go open up a car wash when you want to be able to work 20 hours a week and travel the world and work from a laptop.
Now, you have your vehicle. You know what success looks like. Now this is most important, okay? As long as your vehicle aligns with your success, you need to figure out what those key levers of success are, because these are the things that you want to focus on and focus solely on. So if it is dropshipping, with that success in mind, the things you need to focus on, one, are selling expensive products so that you're making real money every time you get a sale. You also need to focus on working with quality brands so that when customers receive their orders, they are happy, they're thrilled, they're leaving you positive reviews.
Now, the final thing you need to focus on is paid traffic, because with this game that we play with my model of dropshipping, the better you become at paid traffic. As long as your product prices are where they should be and the products are quality, the better you become with paid traffic, the more you can make, and it doesn't require you to work another 10 hours a week. It just requires you to run better ads, to cut the losers faster, to invest more into what is already winning.
So at this point you have what success looks like. You have your vehicle, you have those key levers, and from this point forward, your job is to put your hours into the key levers, and the key levers only, not to get distracted with, "I saw this blog post that says I should set up a messenger bot," or not to say, "Hey, I saw this video about how I can buy crypto and double my money in the next year." And not to be like, "Hey, instead of having three employees, let's try to work with four different outsourcing firms, and let me try to bring in a person that actually sits with me at my home and uploads products with me." Right?
All these extra things that float into your mind that you think you should do because you saw somebody else doing, they get cut completely. In fact, I did an episode on this called Cross it Off. I'll post the link to that as well in the description, but that is the system that I use to make sure I am only focusing on the things that will actually have the biggest impact on the vehicle, on the business, to get me towards success for where I've defined it for myself. Now, obviously I'm using dropshipping as an example and I'm using what our members, our students at Drop Ship Lifestyle typically want, which by the way, go to dropshipwebinar.com to learn more about that. But this doesn't just apply to dropshipping. This applies to anything and it applies to you with your mindset and what you focus on in your day to day role. So Shopify, you guys know I love Shopify, use Shopify, recommend Shopify. They're currently valued at the time I'm recording this podcast at just under $50 billion, and last month the CEO of Shopify, Toby, tweeted out, I'll put it on the screen, he said, "I've never worked through the night. The only times I worked more than 40 hours in a week is when I had the burning desire to do so. I need eight-ish hours of sleep at night. Same with everybody else, whether we admit it or not."
So this is a guy that started the best eCommerce platform in the world, that still runs it today, that has a valuation at almost $50 billion, and he's saying the only time he's ever worked more than 40 hours a week is when he actually had the desire to do so. And I don't know. I personally resonated with that a lot. Obviously he's not dropshipping. He's building the best eCommerce platform there is, and he's still not putting in those hours, but the thing that really resonated with me with this quote or this tweet is when he said the only time he worked more is when he had the desire to do so, and that's something I think that everybody needs to understand.
You should have that baseline of time that you're willing to invest into the business, and that you're committed to, but if you have this amazing idea, let's just say using one of the levers I just talked it out with paid traffic, and you spend an extra 30 hours in a week diving into it and getting better at it, it's not like that means then every week now you should be working 50 hours a week. It means when you see an opportunity, when you're super passionate about it, when it affects one of the things that you're focused on, again, there should only be a few, then of course you could put more time into it. But the goal is to have a baseline and have everything else only come into play when it's because it excites you, not because you think you need to stay up all night and go to Starbucks at 9:00 PM to get work done. You do not need to. I'm telling you that, from somebody that's built multiple eight figure businesses, and this is coming from somebody that's built a $50 billion business that has no signs of slowing down anytime soon.
Now, a couple of books that I think I should recommend because they really impacted the way that I feel about work and kind of where I focus my time. The first is called The One Thing. It's an amazing book. It is exactly what it says. It talks about focusing on one thing. I listened to the audio book. I would recommend the same. It's an easy listen and it helps you to cut out distractions.
Another book that changed my life is The 4-Hour Workweek. Read that back when it first came out, and that got me started on the path to eCommerce, but more so than that it got me started on the path to outsourcing and working on things that are highly efficient, so the things that get you the best return on your time. And another thing that that book opened my eyes to is the concept of geoarbitrage, being able to live in different places, in different parts of the world where your money goes a lot further. So if you are bootstrapping, you're just starting, I would highly recommend reading that book and then going online and looking more into the digital nomad communities in different places of the world. I lived out in Thailand for a year. I lived in Vietnam for I think three or four years, so there's huge communities of people living for a few thousand bucks a month, living great lifestyles, that are able to work on this geoarbitrage and invest more money into their businesses as they grow it. I've met hundreds of people that were doing just that.
Another thing to focus on when you are getting into this cutting of time and cutting of just wasted hours is automations. I automate as much as I possibly can in our businesses. That's one of the key levers of success for us, and I teach all that, by the way, in Drop Ship Lifestyle. It's in module seven of my training program there, how we automate basically every day to day task that doesn't require a human. So I share that there.
And the final thing I'll mention with this whole not having to work 80 hours a week thing goes back to the first point, which is knowing what success looks like to you. And I don't want to call it minimalism, but it's kind of that. I'm not saying anybody should live in a shoebox and sleep on the floor because they want to be able to cut their expenses to nothing. I personally spend money on a lot of things that I don't need. I just enjoy them. One of them is technology. I buy almost every new computer that comes out. I buy tons of cameras that I have no idea how to use. I buy a new TVs, and just tons of tech, right?
But I also realize that there are some places that I can save money that actually make me happier by not having the bigger expenses. So an example would be the home that I own, right? I didn't buy a multimillion dollar home that had extra bedrooms and extra living rooms and a gym in there, right? I didn't do that. I bought, it's a very nice house. It's a few years old, but it's definitely, I could have something much bigger. Not saying that to brag, saying that because sometimes cutting expenses on big things like that can save you a ton of money, also cut the amount of time you need to put into your business, and honestly also make you happier. So focus on what makes you successful. Put the time into that. Put your money where it makes you happy, but don't just buy things because you think success looks like the multimillion dollar home and the Lamborghini outside, because unless that really is what makes you happy, it's going to not only take more money and more of your time, but it's going to make you miserable as you just see your money getting thrown out the window every single month.
Finally, in that same vein of minimalism and the same vein of looking for where the biggest opportunities are, look where you can make the most money. Again, this comes back to vehicle, but look for the opportunities that have the biggest upside. For me, that is selling expensive products. That is working only with brands, getting approved with them, where my time goes, to sell for the best suppliers and becoming a master of paid traffic, to get the best quality people to visit my websites so they buy, and so that we make as much money as possible for every visitor that comes to the site.
So hope you guys found this one helpful. Again, I'm going to post those links in the description to the relevant episodes, and to those books. As always, if you got value, please do leave the podcast a review on Apple Podcast. It means a lot. And if you're looking to build your very own highly profitable semi-automated store, be sure to go to dropshipwebinar.com. So that's it. Thank you, everybody. I appreciate you and I'll talk to you the next episode of the podcast. See you.