EFFORT Entrepreneurs vs. IMPACT Entrepreneurs

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SUMMARY

Are you making an EFFORT, or are you making an IMPACT? So many coaches talk about the importance of hustling and hard, work, but is that all it takes to make a difference?

In today’s episode we’ll talk about ways to use less effort to make a higher impact, whether you’re an employee, an entrepreneur or a business owner.

Watch the video above (or listen or read below) for the full lesson so you can take the next step towards creating and maintaining a #4DayWorkWeek


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If you listen to some of the more popular thought leaders in the entrepreneurial space, you'll hear some of them talk a lot about effort, hustle, and grind. You'll also hear others talk about quality of life, impact, and meeting client needs. People can get easily get caught up wondering which is better, or which is right.

Here, we’re going to go over each viewpoint, and how each one can help you to maximize your results, whether you're an entrepreneur, an employee who wants to become an entrepreneur, or an employee who simply wants to get paid more, or a business owner who wants to grow your business.

Effort vs. Impact

When you look at effort versus impact, some people believe that effort and hard work alone are the primary keys to success and wealth. Certainly, there are some examples of this being true, and there are some people that just work so hard that they eventually figure things out.

Then there are others who believe that impact, results, outcomes, and value creation are the primary keys to success and wealth.

That’s not to say that these people don’t believe in hard work, or that the other side don’t believe in making an impact; this is just what they believe their primary focus should be.

Impact requires effort, so impact does have to have effort; impact is not going to happen by itself. And there's that quote, “Just about anything worth achieving is going to take effort”, and it certainly will. But effort alone doesn't guarantee impact.

There are plenty of people working in jobs where they're working hard, but unfortunately they're not making an impact. Maybe they’re being forced to do the work, or maybe they can’t really engage with the job. So we can see that success is not a guaranteed result of working hard: there's got to be some sort of interplay for people to achieve real results and real, lasting impact.

The Effort/Impact Categories

To understand this better, let’s take a look at some different kinds of workers, and sort them into categories.

The Laborer

Everybody's got a little bit of effort and a little bit of impact in them, but in the effort extreme we've got a person who's just a pure laborer, and they work really hard. Their work is higher effort, and perhaps lower impact, because they don't have a lot of control over their situation.

This person is typically going to make towards the lower end of income when they’re young, but as they get older, they're still going to make towards the lower end of income because labor or effort that's not directed in a way to bring about high levels of impact is really not all that valuable in the marketplace.

The Dreamer

If you go to a lower effort situation, which perhaps is a little more desirable, but if that's still low impact, this is what I call the dreamer. The dreamer is the person who’s hoping that some easy thing is going to come along, and they're going to just do well, they're going to win the lottery, or they're going to get appointed to a job by a friend or a connection, and everything's going to work out.

They're making lower impact, and even though they're doing low effort, they're still not going to make a lot of money now, and they're probably not going to make a lot of money in the future.

The Hustler

The hustler usually has a higher impact in their work, but it's taking a higher amount of effort. They might be making a high income now, but I'm going to tell you something that I've seen in over 25 years of working with entrepreneurs. A huge percentage of the hustlers end of having a lower income later, and that's because they get tired. Non-stop hustling gets tiring after a while.

The Multiplier

Finally, the multiplier is the person who looks to use less effort to achieve higher impacts. This is where, for a lot of people who believe in hard work, their red flags fly up and they say “Oh no, this is impossible Wade, you can't work less and make more.”

But if you look at someone like Bill Gates and the results he's been able to get, it's through efficiency, through greater productivity. It’s taken him lower effort to get the same result, lower effort to get higher impact. That doesn't mean the multiplier just stops working, and it doesn't mean they want society to take care of them; it simply means they want to get higher impact with less input. They want to get more out of the effort they're putting in.

Because some people are so focused on hustling, they miss that distinction.

Work Smarter, Not Harder

As a father who has coached soccer, you can tell which other parents aren’t as familiar with the game. The coaches who didn’t know what they were doing would tell these little kids, "Hustle, run, run, work harder." Why? Because they have no idea what the heck else to tell them to do.

And then you could tell which ones played the game, and they understood how to get more goals with lower effort.

This isn’t about trying to cheat the system, or being lazy. This is just to say that hard work alone is not the answer. It's got to be applied in some way that's going to give a higher impact. There are some common trends that I've seen over time, which we’ll go over now.

Laborers

Laborers never seem to create or get a break, because they're more focused on working hard in their job than working smarter on their job. So they're rarely unemployed, because they're hard workers, but their income grows very little. It almost feels unfair: these people work so hard and they don't advance very much because they're always in their job, just laboring away, not looking at how could they do better, how could they evolve, how could they get paid more, and what would it take.

Dreamers

Dreamers are completely focused on their vision, their needs, their products and services. A dreamer could be someone who's working hard but they're so focused on their own stuff, that they can't really see the client. So they work hard without an effective compass and they make little progress whether they work hard or not, because they’re not focused on creating greater value for the client.

I remember I had a boss that said to me once, "Wade you know what? You do great work for the people in our company, and you do brilliant things, and sometimes you do both at the same time." And that was his nice way of saying “It's not about you, it's about you doing something that creates impact because it's important to the client.”

Hustlers

Hustlers see success quickly and get addicted to being right. They're very often self-starters, and they often devalue learning from others: they prefer doing it themselves. This means that they'll often take the longer route to gain strategies, wisdom, and insights, and so they'll burn out quicker. And the burnout leads to fewer results and less income.

Very often hustlers are rebels. If you're rebelling against something such as working in a corporate job where nobody cares about you, I hear you. But you know what? There are plenty of other people who did it before you, and there are plenty of better causes you can align with.

The problem with being a rebel is you always have to fight. Even if someone told you that you wouldn’t be able to do something, so you do it just to prove them wrong, then you're still being controlled by something outside of you. You’re not moving towards a result that you want just because you want it. It’s better to work for something, not to go against anybody, not to go for somebody, just because it’s something you want.

Sure, there are plenty of successful entrepreneurs who have broken the mold, left the system, or got out of the matrix. But you don't have to be a rebel to do that. There are enough people who have done it, you can just learn from them and hustle, and work hard, and respect systems, and learn from those who've been there before you. There's no need to do it all yourself. There's no merit in reinventing the wheel.

Multipliers

Multipliers do three main things:

1. They clarify the client's most desired results, or, in other words, “What does the client most want that I'm serving?” I should say here that the multiplier isn’t just finding a group of people and doing whatever they want. The multiplier has already specialized in whatever field they choose, and then within that field, they clarify their client's most desired results.

2. They seek out proven strategies that have been learned from others. They're still open to improving those strategies and creating something better, but rather than starting from scratch, they take something that's already working and make it better, to create value, and create more income.

3. They commit their hard work to creating constantly increasing impact and income. The multiplier knows that if they apply focus smartly, this goal is going to happen.

Compare this with the hustler, who’s saying "Look at me, look how hard I'm working.” But is it getting results? Is it not? If you're not getting the results, I don't care how hard you work.

As I've said before, I pay you to cut my lawn; I don't care if you use a pair of scissors or a lawnmower, I'm going to pay you the same amount. I assume you use a lawnmower, and if you use scissors, I'm going to think you're kind of foolish, not that you’re doing a better job.

What We Can Learn from Each Category

There's a lot to be learned from each of these categories, like hard work and being dedicated to a cause. But there are certain downsides too.

The downside of being a laborer is that you’re never looking to improve or get above where you are now; you’re just condemning yourself to always being that person.

As for the dreamer, it's great to have dreams, and to want to have awesome products. I fall in love with my colors; I love doing my pretty colors on my PowerPoints. But if all the rest of the content here doesn't serve somebody, then I'm just a dreamer, not making a lot of money.

I've done projects that reflect that. I've wasted 600 hours and $18,000 trying to make an iPhone app that looked so pretty, but really was still about what I wanted to create, not about what the client really wanted.

Hustlers, there's a lot to be learned from working hard and being willing to put in extra hours. Sometimes you do need to put in 16-hour days or 18-hour days. But when I see these Instagram posts that say "40-hour work week, haha I remember my first part-time job." I know that they’re just glorifying the work for the sake of it. It's like the guy that goes in the gym and he's throwing around weights and beating his chest.

But what's the goal? Is the hard work taking you where you want to go, or not? The hard work's great, but if we can direct that hard work in a way that's customer-centered, then we’re creating impact, a greater world, greater results, greater income, and a more steady situation.

Moving Forward

If you're a hustler, I hope you don't take too much offense. I’m not trying to make you stop hustling, but rather to direct that hustle better.

If you're a laborer, again, this is not meant to put you down, but rather to look at how you can try to evolve. This is meant to help you get to another level and evolve to a better situation.

These categories are not always very clear cut, and many of us fit into different categories for different parts of our work. There are certain tasks we do that make no sense for us to be doing. There are certain projects we're hoping will work that won't work. There are certain things where we're overworking just because we want to prove a point, and there are certain times when we're aligned with impact, our clients, outcomes, results, and income.

If you have any questions about this, please drop me an email. If you want to go deeper into this topic, start creating your 4-Day Work Week Game Plan. Whether you're an entrepreneur, an employee, and employee who wants to be an entrepreneur, a student, or a business owner, you need to have a strategy on how you can create more income in less time.

It might even mean that you want to reinvest that time and start working Fridays, but you’re going to make more money in that time. The 4-Day Work Week Game Plan will help you do that, and best of all, it’s free. Head to 4daygameplan.com to get started.

As always, I look forward to helping you make more money in less time, doing what you do best, so you can create your 4-Day Work Week lifestyle for your friends, your family, and for you.


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