The path of least resistance isn’t being lazy. The path of least resistance is getting out there and doing things to help. It all comes back to you.– Pace Morby
How to Prevent Burnout For Entrepreneurs: A Candid Convo w/ Pace Morby of SubTo
There have been a few times in my life where I met someone whom I admired so much that I sought them out. I saw traits and characteristics that I wanted to emulate so I made it a point to get to know and spend time with that person. One of those people is Pace Morby who you may know or recognize from his recent appearance on the CarrotCast.
This episode is a little bit different. Instead of talking about creative financing and real estate investment, we dive into how to prevent burnout by giving back, building a team, and learning how to trust and let-go within your business.
I’m was pumped to dive into these topics with Pace and share some insight from someone who is not just succeeding at business, but at life too.
Read the Full Show Notes Below…
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In this special in-studio episode of the CarrotCast, I sat down with Pace Morby to dive deeper into how he operates his life and business to prevent burnout. While we recently got into the technical aspects of his business in a previous episode, today it is more about creating the reality you want for yourself and really thinking about the sort of impact you want to make.
A big part of that is building the right team, trusting them to make the right decisions, and being able to let go.
The Art of Letting Go
Recently I was able to take a one-month sabbatical. A true sabbatical, in which I didn’t check in with the office once. I was only able to do this because of my incredible team and the framework we have put in place.
I tried this once before in 2016, however it wasn’t a recharge. I felt more burnt out once I came back. I made the mistake of keeping Slack and Facebook on my phone, constantly checking in to see what was going on.
This time I wanted to do things differently. Before I went out of the office, I performed a decision audit.
Anytime a decision needed to be made, I documented the process and the thinking, delegating a team member with the responsibility. It wasn’t just asking them to do it for me while I was gone, it was teaching them how to own the decision for themselves going forward.
I also let my team know to only reach out for three reasons.
- We couldn’t accept money.
- I needed to sign something the team wasn’t able to take care of on their own.
- If there was a personnel issue or someone needed to be laid off. (That doesn’t happen much around here.)
A knew all of the other decisions would be handled and if one of those three major things happened, my team would let me know. This allowed me to truly disconnect and spend the time with my friends and family that I needed to recharge.
Most people will take some time off, only to come back on Monday to put out fires. That wasn’t the case with my sabbatical. The company even grew while I was away.
Shiny Object Syndrome
Creating this framework is important not only if you want to take time off, but also if you want to be able to scale your business. In order to grow, the goal isn’t only to remove yourself so you can focus elsewhere but to be able to replace yourself with people who can do the job better than you are able to.
So many entrepreneurs try to do it all on their own. They will end up working 15 hour days, getting burnt out, becoming entranced by a shiny object, jumping ship on their current business, then repeating the process over and over again.
Many entrepreneurs plateau.
In the beginning, they were motivated by something they were running from – low wages, lack of freedom, people saying they couldn’t do it.
Once they find success, they forget to find something to run toward. The motivation disappears and they are onto the next thing.
At CarrotCamp, we talk about operating the business from the inside out. The team we have in place knows this isn’t just a 9-5, but rather a company dedicated to creating impact and change.
We know what we are running toward and why.
You Have The Time
Building a team, cultivating a strong company culture, and building the framework you need doesn’t happen overnight. You have to put in the work upfront to get you to where you want to be.
Pace was recently approached by someone who said there was no way to live as Pace does because his 9-5 took up all of his time.
Pace’s reply? Get up earlier.
Pace has been known to get up as early as 2:30 in the morning in order to get the quiet time he needs. He will spend an hour, planning his day on a granular level and another hour educating himself. Then he is able to devote his 9-5 hours to others including his coworkers and family.
Early mornings may not be for everyone and that is ok. Some people do great work at night. It is about looking at the time you do have and seeing how you are spending it. Instead of going to happy hour after work, maybe go to an REIA meeting. It’s all about how you prioritize your time.
Serving Others Is The Path of Life
When I got out of college I started hustling. I was trying to get mine and found that for all my hard work, I only made $12k. In 2008, I started sharing the things I knew with others who would benefit. I started building a network of entrepreneurs who could learn and grow together. It took a while to take off, but the group got together for 10+ years.
I brought people together, I created connections, and I offered to work for free just so I could learn. When you give back, not only do you get a helpers high, but you will also find that what you put out comes back to you in one way or another. I up-leveled my peer group, surrounding myself with people who had the same drive, goals, and values.
I watched as my business grew and I was moved to serve and help others without any promise of a return. I challenge all of you out there, even if you are just starting out, to find someone out there who you can help in some way.
Whether it be offering advice, taking them under your wing, or helping them to get something done, paying it forward will always help you in the end.
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Mentioned in This Episode:
- CarrotCast EP 143
- CarrotCast EP 149 with Adam Johnson and Brent Moreno
- CarrotCast Ep 217 with Pace Morby
- Real Estate Disruptors Interview with Jerry Norton
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