“Hustle” is the most prominent advice today for entrepreneurs.
And Hustle is For Losers.
Let me share why with some learnings from our guests.
For 3 reasons:
1) If you are or want to be an entrepreneur and you need to be told to work hard you should go get “a good government job”, not start a company!
2) If you’re hustling in a shitty category, it's a waste of your talent.
- Categories make companies.
- Eddie Yoon in HBR, Why Dominating Your Category Can Be a Flawed Strategy
- Design your own category.
- Be known for one thing you can own.
3) Category queen economics apply.
- We live in a winner take all world.
- Category queens / kings in tech earn 76% of the total value in the space
What should wanapreneurs and entrepreneurs think about?
1) Struggle NOT Hustle:
Struggle (Verb) Google: “strive to achieve or attain something in the face of difficulty or resistance.”
- Our friend and guest Erik Weihenmayer, the first blind person to summit Everest (episode 48) says, “Life is a storm."
- Erik: “The dichotomy is that people want to be in that storm... even though it’s scary. That’s where the action is, that’s where the excitement is, that’s where the discovery is, that’s where insight is.”
2) Our friend and guest, Ann Miura-Ko who Forbes calls, “the most powerful women in startups, says, “Have Big Dreams”
3) Her partner, also our friend and guest Mike Maples, Jr. says: “The first thing that I like to emphasize to people when they start a company is: start a company that’s worthy of your talents, that you think represents the absolute utmost gift you have to offer to this world and your life.”
- Hustle is for losers.
- Struggle in a category of your own design.
- Niche down, (be known for one thing you can own) to fulfill your biggest dreams by doing work that is worthy of your talent.