109 - Why I don’t advise that you hustle to your first 100k

On this episode of The Time & Productivity Podcast for Entrepreneurs, I delve into the topic of why I don't advise hustling to your first 100k. As a podcast dedicated to helping ambitious, high achieving women achieve work-life balance and success in their businesses, I aim to debunk advice and common beliefs that may not be helpful or applicable to all situations for small business owners and online entrepreneurs. 

I explore the various sources from which these beliefs may stem, including society, families, government, gurus, mentors, and admired individuals and how they can negatively impact business success, work-life balance, results, finances, time, and productivity. Many individuals put in extra hours and constantly doubt whether their efforts are enough, leading to hesitation and indecision.

This perpetuates self-doubt, resulting in a cycle that keeps you stuck. I point out that some individuals believe that their success is solely due to their excessive effort and overworking, failing to recognise the true factors that contributed to success. This belief traps you in a never-ending cycle of hustling, as you feel the need to maintain the same level of effort to achieve similar results. You often lack the time to evaluate what truly worked in the past and fear narrowing down your approach or taking time off, thinking it may negatively impact their future success. However, I argue that relying solely on time and effort for success is limiting because there is a cap on how much one can put in as a human.

Believing that constant hustle is necessary for success can create a fear of not working enough. Overworking leads to a decrease in focus, creativity, problem-solving abilities, and the ability to process complex information. Quantity without quality is unlikely to yield better results. The idea of constant hustle also causes a fear of taking time off, preventing entrepreneurs from recharging, maintaining their health, and nurturing relationships. I emphasise that taking time off allows for gaining perspective and fresh ideas. Overworking and trying to do too much often leads to feeling overwhelmed and not getting the desired results. Lack of time and effort leads to a half-assed job on multiple tasks, preventing the evaluation of results and causing wasted effort and uncertainty.

To address the specific notion that one must hustle to earn their first 100k, I explain that making six, seven, or even eight figures in the online education and coaching industry is a common goal. However, I suggest that small business owners assess if their business model is scalable to achieve these figures. Believing that excessive effort is necessary may unintentionally resist further growth and prevent entrepreneurs from benefiting from economies of scale. I share my personal experience of resisting expansion in my campsite business because I already felt overwhelmed with my current workload. I emphasise that breaking out of the habit of overworking and hustling becomes difficult after achieving success through this method. It becomes challenging to simplify and constrain one's business strategy without knowing what specifically will lead to success since efforts weren't tracked or evaluated.

Tune in to this episode of The Time & Productivity Podcast for Entrepreneurs to gain valuable insights on the role of hustling in achieving business success and why it may not be the best approach to reaching your first 100k.