First things first. Don’t buy into that myth that all entrepreneurs have to work 24/7 to make a go of it. I mean, you can if you want. But I know a whole lot of successful business owners who never did.
On the other hand, Timothy Ferriss may underestimate what it takes for most people. His bestselling “4-Hour Workweek” suggests that you should be able to join what he calls the new rich with less than an hour’s effort a day.
For most of us, the right-sized workweek lies somewhere in between. I’m a fan of the high tide-low tide approach. I can handle the occasional high water mark of long days for a week or two or three at a time. But only if those stretches are broken by weeks of lighter work loads and shorter hours. The more tired I get, the longer the recovery period to get me back at the top of my game.
You have to consider what it costs the company for you to work long hours. I’m not talking about dollars so much as what it costs in terms of your ability to lead. If you work too hard for too long, you’ll find yourself depleted and exhausted. Wouldn’t it be better for the company to have you refreshed and energized? Does your company’s success depend on the hours you work or the quality of your ideas, relationships and vision?
However, running your own business requires some effort. You can’t expect your company to flourish if you don’t give it the time it needs. Up to a certain point, working hard and being intensely engaged in my work gives me even more energy. But after a few long weeks, I find myself spending more time being reactive to situations and less time proactively planning. If a workweek includes a long day or two of business travel, I know I won’t be my sharpest the next morning. The law of diminishing returns sets in, and I eventually realize I need to back off so I can come back fresh and renewed. Like the tides, it’s a cycle, and develops its own rhythm.
The trick is to recognize that thin line between working too hard and not working hard enough. Only you can know where you hit your stride and where your performance begins to deteriorate. In most cases, it’s not about the hours you put in; it’s about the caliber of work that comes out.