I interviewed Gary Vaynerchuk, and he says there are 4 harmful ways that entrepreneurs feel entitled
David Neagle is the founder of the multimillion-dollar global coaching company Life Is Now, Inc, helping thousands of entrepreneurs, experts, and self-employed professionals gain confidence and find the right mindset to increase their revenue, turning their endeavors into seven- and eight-figure ventures. He recently interviewed Gary Vaynerchuk for his podcast, "The Successful Mind." Vaynerchuk discussed the entitlement mindset he sees in some entrepreneurs and the negative effect that it has on innovation. He said that prosperity breeds entitlement, and that entrepreneurs are too focused on the small things and the wrong wins. Visit Business Insider's homepage for more stories.
We've all heard the expression "There is no such thing as a free lunch." Too often, founders and entrepreneurs believe they deserve something — be it a big customer, funding, or an important introduction — simply because they think it is owed to them. Gary Vaynerchuk isn't a fan. Neither am I. On a recent episode of my podcast, "The Successful Mind," Vaynerchuk shared his thoughts on this sort of entitled mindset some entrepreneurs have — and how it is ruining our innovative ecosystem. "The young, hungrier thing wins, and the fatter, older thing loses. We're the fatter older thing. We think somebody owes us s---," he said. I agree. Too many founders do not understand the amount of work, dedication, and sacrifice that's actually necessary to do what they say they want to do. To build a company, to live a dream, to find their purpose, to change the world, to making millions, whatever it is — they have to work at it. Nothing is just handed to them on a silver platter. Check out the four things I agree with Vaynerchuk about when it comes to entitlement and entrepreneurship — and how to get past this mindset to find success.SEE ALSO: Gary Vaynerchuk and 9 other successful leaders on how to respond when employees royally mess up 1. Prosperity breeds entitlement
"There's this huge breeding of entitlement that is going on in the country that is called prosperity. It's why empires fall. Rome did it. Genghis Khan did it. We're doing it," Vaynerchuk said. It's true. Americans are getting comfortable with being lazy. We forget about the hustle. Adversity is the antidote for entitlement — and the lack of adversity is creating entitlement in the workplace. Not everyone gets a trophy. For entrepreneurs, your work is never done. You need to continue to put in the work to reap the rewards. You have to set up a specific timeline for where you want to be, put in place benchmarks, and figure out how you want to get there. Seems obvious, but too often founders just focus on point B without determining the strategy it takes to get there. 2. We sweat the small things
Upset that your $7 coffee is room temperature or your Delta flight is late? Vaynerchuk touches on the fact that these aren't real hardships— they aren't real struggles. We spend way too much time focusing on the little things that hold us back from making progress on the bigger things — the things that really matter. If you wallow in the minor issues, you can't focus on the big ones. To stay on track, write down your vision on a note card or piece of paper and carry it around with you to remind you why you are doing what you are doing. 3. We celebrate the wrong wins
Vaynerchuk said we are too focused on the wrong thing, including vanity metrics. "Show me how much you're going to cry about not getting as many likes on Instagram posts," he said. Just look at the WeWork fiasco. So many investors were driven by growth numbers and top-line metrics that when the IPO came, the house of cards fell. Just because we achieve something — funding, followers, etc. — it doesn't necessarily equate to success. Entitlement leads to delusion, which can lead to failed businesses as we focus on the wrong things. Rather than focusing on metrics that don't matter, build a solid business — not for the Instagrams of the world, or the investors, but for your customers, the people who are paying you. "Impact, how you make people feel and the quality of what you're putting out into the world, will continue to rise," said Vaynerchuk. 4. We look at success the wrong way
There is a division between people who want success "for stuff" and the people who want success for "process," or the ability to build something new. If someone is starting a business just for the car, or their house, or the jet, or whatever it is, it won't happen. You will fail — and that shallow reason you started a company will not motivate you when times are tough. You have to have a North Star as your guide and a reason bigger than just materialistic things to become an entrepreneur. You have to be emotionally connected to your vision, because without this passion it's very easy to get distracted or even succumb to fear, worry, and doubt. David Neagle is the founder of the multimillion-dollar global coaching company Life Is Now, Inc, helping thousands of entrepreneurs, experts, and self-employed professionals gain confidence and find the right mindset to increase their revenue, turning their endeavors into seven- and eight-figure ventures. Being in the coaching and mentorship industry for more than 20 years, his clients include many well-known people, including New York Times No. 1 best-selling author Jen Sincero. Because of the results his clients have achieved, along with his dedication, David's coaching has expanded to more than 30 countries, and his business expertise has been featured in Inc., CNBC.com, Business Insider, Farnoosh Torabi's "So Money" Podcast, HLN, and much more. He is also the bestselling author of "The Millions Within," a book focusing on intention, focus and awareness to build your dream business and life.Follow him on Twitter and Instagram.