Moment 14 - Grace Beverley On What It Takes To Build A Business

1. Avoid Over-Committing & Burnout

Resist the urge to over-commit by taking on too many high-stakes challenges simultaneously, such as launching a business during university finals. This approach is a fast track to burnout and increases the risk of critical errors.

2. Re-evaluate “Hard Work” Definition

Challenge the perception that extreme overwork, like being in the library at 3 AM and on calls at 7 AM, is the epitome of hard work, especially when it leads to unproductivity and poor outcomes. True productivity is more valuable than mere hours logged.

3. Embrace Business’s All-Consuming Nature

Recognize that running a business is an all-consuming commitment, akin to raising a child, where you cannot simply disengage or say no to crises, even at inconvenient times. This understanding prepares you for the constant demands and responsibilities.

4. Define Your “Enough” Point

Reflect on your personal definition of “enough” in terms of work and sacrifice to avoid endless obsession. This helps you understand when to allow for personal time and enjoy the benefits of your hard work.

5. Set Business Evaluation Deadlines

Establish clear deadlines, such as the end of a significant life stage like university, to evaluate the success and viability of your business. This helps in making informed decisions about whether to continue or pivot to a different career path.

6. Cultivate Clear Vision & Drive

Cultivate a clear vision for your goals and develop relentless determination to work towards them day and night. This focused effort is crucial for achieving ambitious objectives like growing a business.

7. Link Business to Personal Dreams

Develop clear dreams for your businesses that are intrinsically linked to your personal aspirations and goals. This connection provides deeper motivation and a clearer purpose for your entrepreneurial efforts.

8. Pursue Flow State Work

Actively seek work that matches your challenge and skill level, as this creates a flow state that provides immense fulfillment. This alignment maximizes engagement and satisfaction.

9. Explore Diverse Career Paths

Proactively gain varied work experience across different avenues, especially during formative years, to prevent the fear of being stuck in a career you dislike. This broad exposure helps clarify your interests and dislikes.

10. Persist Despite Initial Setbacks

If a desired path doesn’t work out initially, persist by finding alternative routes, like taking a gap year for work experience and reapplying. This demonstrates resilience and commitment to your goals.

11. Balance Core Responsibilities

Dedicate sufficient time to core responsibilities like university studies to avoid giving excuses for underperformance, even while pursuing other demanding ventures. This ensures you maintain academic standing while building your business.

12. Self-Reflect on Hustle Culture

Engage in deep self-reflection to understand how you might be perpetuating or benefiting from “hustle culture,” even while criticizing it. This introspection is crucial for personal growth and promoting healthier work norms.

13. Learn from Unwise Challenges

After facing a significant challenge that was ultimately an unwise decision, critically evaluate why it happened and commit to not repeating such self-imposed difficulties. This prevents unnecessary stress and improves future decision-making.

14. Seek Work You Genuinely Love

Strive to find work that you genuinely love and can give your all to, drawing inspiration from role models who found fulfillment in their careers. This passion can make demanding work feel less like a chore.

15. Understand Roots of Drive

Reflect on the origins of your work ethic, such as family influences or an internal “anxiety to do well,” to better understand your motivations. This self-awareness can help in managing your drive.