How To Escape The Grind And Build A Life You Love | Codie Sanchez

0:00My name is Shannon Maldonado. I'm the founder of Yaoi, a gift shop from the lens of artists and handmade objects. I chose Shopify because when I was testing other platforms, it was definitely one of the most user-friendly. It was important to me to think about where we would be in the future. All of the tools for reading your sales, like planning inventory, are just right there on your dashboard. For anyone starting a small business, the biggest thing I can tell you is it doesn't have to be perfect. Shopify can help you build upon it. Start your free trial on Shopify.com. Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.

0:40I think a lot of people feel like they have to grind and work so hard to make more constantly, to keep up with the bills, to keep up with the expenses, or keep up with the appearances, that they're just starting to feel burnt out and exhausted around work, money, or the idea that they have to do so much more work to make more. So what is the way out of this trap? Yeah. Well, first, I think you need to realize that most people who are giving you advice on the internet about business were miserable before they started their business, miserable as they're building it, and probably still kind of miserable post-success.

1:16And so that was a huge realization for me. It's like, oh, all these people that I'm listening to have lives that I don't want. So why am I listening to them about building a business? And I think as a generation, a lot of us like trauma bonded as entrepreneurs saying like, oh, it has to be this way. It has to be so hard. Because if instead you say life's actually pretty good. Yeah, we're grinding, we're growing. And there's a couple of things here and there. But like by and large, it's good. People are like, you're a liar. You must not be trying that hard. It just sounds so much less sexy. And so I would say first realize that those people who say that you have to do the really clickbaity thing, which is grind to the point of misery until you eventually outlive everybody else.

1:56That's one way you can. You can also do what Jeff Bezos talks about, which is he's always puttered in the morning, you know, or Tim Cook all through his life of being an employee spent the first hour working out. I'm not saying that you don't have to work hard. I'm saying you could actually choose a life that you like and fit work into it I actually think that's possible and so I started writing this book because that was me I'm like super pregnant. I'm slowing down And I wanted to get pregnant. We've been trying to get pregnant for five years So I started writing the book because I was like When I am eventually a mom or pregnant, I don't want to go at this pace anymore And I keep building all these things to keep up with all these other people that I don't even like.

2:41Why? Why? How long were you running that race for? Oh, gosh. I mean, I've been in business for 16, 17 years now in varying ways. So, you know, let's call it 16 or 17 years. Do you think you were consciously thinking about, oh, I need to keep improving and growing and succeeding to keep up with others that you admire or respect or whatever, friends, or do you feel like it was more of an unconscious thing? It's unconscious. I mean, I think you were all memetic desire machines, right? Like you see the Joneses have something, you want what the Joneses have. And then social media just amplifies that until you think, well, to be happy, I need to have X.

3:20And that is such a, that's such a falsity. And in fact, you know, part of the book was me deconstructing, wait a second. Most entrepreneurs make$46 ,000 to$64 ,000 a year. Most entrepreneurs make$46 ,000 to$66 ,000 a year? Yes. The minimum wage in California is$78 ,000 a year. So most entrepreneurs across the U.S. make less than minimum wage. Wow. Why is that? Because most businesses aren't optimized for profit. And think about it. Most people don't even really think profit is sexy. If I was to stack ranked, what do you want? Revenue, money, cash, profit. They're not going to rank profit first.

3:56And so most businesses aren't taught to pay themselves first and that that's okay. There's a great book called Profit First, right? Yeah, Michael Michalowicz. So they don't think about profit as sexy, right? No. And I think also as an entrepreneur, you end up feeling like revenue is the be all and all. I just want more and more and more and more top line. And eventually you realize, wait a second, I need to eat. I want to have a nice lifestyle. And I remember another mutual friend of ours, Dean Graziosi, said to me years ago, he was like, you know, he's like, I have a lot of friends that have run these scale businesses, these hyper growth businesses.

4:36And he kind of leans in because he's a nice guy. And he goes, but I've had a plane way longer than all of them. And I joked with him. I was like, why do you think that is? He's like, because I've always optimized for having a lifestyle business that paid me first and cash flowed to me. And then I cash flow to the business. Wow. Instead of like, oh, I'm doing a hundred million a year revenue, but I'm struggling financially. Yeah. I mean, I was like, you know, most entrepreneurs, they pay themselves last. And then, you know, when you're an employee, I remember when I was an employee, I'd go to my boss and think, he's super rich.

5:11We just made millions. And you don't realize, you know, Walmart's profit margin is like 6%. The average business is 15%. So if you're making a million bucks, you're only making$150 ,000 a year. Well, you'd be better off being one of now my employees than that.

5:29I have a brand new book called Make Money Easy. And if you're looking to create more financial freedom in your life, you want abundance in your life, and you want to stop making money hard in your life, but you want to make it easier, you want to make it flow, you want to feel abundant, then make sure to go to makemoneyeasybook.com right now and get yourself a copy. I really think this is going to help you transform your relationship with money this moment moving forward. We have some big guests and content coming up. Make sure you're following and thanks for tuning in to this episode of The Daily Motivation Show.

6:12Thank you so much for listening to today's episode of The Daily Motivation and I hope you have an amazing rest of your day. If you enjoyed this episode, make sure to click the link in the description. That will take you to the full episode of our main podcast on the School of Greatness. And if you are loving the daily motivation, please follow us over on Apple Podcasts and Spotify and leave us a review over on Apple Podcasts right now. And if you want more exclusive content and ad-free listening experience, make sure to subscribe to our Greatness Plus channel on Apple Podcasts right now. And if you wanna get even more inspiration from our world-class guests and learn how to improve your life and take it to the next level, then make sure to sign up for the Greatness newsletter and get it delivered right to your inbox over at greatness.com slash newsletter.

7:03Again, have an amazing day and I'll see you tomorrow with another episode of the Daily Motivation Show.

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