The founder of Trung Nguyen Group, Mr. Dang Le Nguyen Vu has had many opportunities to share his entrepreneurial journey. When asked if it was difficult at the beginning of his business, Mr. Vu said it was very difficult.
"There was no advantage, it was very difficult at that time. Actually, there is a saying that follows me all the time. The first is when I comfort myself when I am too tired: "God, before giving a big job to someone, he must torture people. Second, if you don't have money, you must have wisdom. If you don't have a mind, you have to sweat and work hard. Those things are my fulcrum” he said
Of course, in order to have a strong Trung Nguyen like today, Mr. Vu believes that it is necessary to think big. Today we tend to think of the success of famous billionaires like Bill Gates, Warren Buffett in terms of wealth and achievements. These metrics aren't wrong, but the problem is that we get so obsessed with these achievements that we ignore the sacrifices needed to get there.
Time is a factor when it comes to sacrifices. As Warren Buffett famously said, "It's the only thing you can't buy. I mean, I can basically buy anything I want, but I can't buy time"
Warren Buffett is absolutely right. To pursue passions that deliver great value when you only have 24 hours a day, you have to give up low-value activities. Effective use of time to work 6 months as someone else does 20 years
Making decisions isn't easy, but the good news is that we all do it naturally. In 2009, a study from the University of Adelaide's School of Psychology found that people are more willing to give up choices for greater rewards than others. However, if the returns are not clear, it will be more difficult for us to give them up. That's why it's so important to examine opportunity cost and return. You really have to take the time to figure out the opportunity costs and benefits of each and see what's really worth pursuing.
Bill Gates and Warren Buffett have strategies to do this, summarized by CNBC as follows.
Check every action
Although Gates' love for technology has helped him build a billion-dollar company, he refuses to let technology distract him from the things that matter.
"I stopped listening to music and watching TV in my 20s. It sounds extreme, but I did it because I thought they would only distract me from thinking about software," the billionaire wrote in a post. Posted on personal blog. He applies the same values when he raises children. Gates did not allow his children to have cell phones until they were 14 years old. Bill Gates also keeps the principle of "no phone calls" during family meals.
Buffett is also not a fan of the distractions of technology. The chairman of Berkshire Hathaway does not use a computer in his office. Warren Buffett limits the distractions of the Internet by owning a flip phone - despite numerous attempts by Apple CEO Tim Cook to convince him to join the iPhone revolution.
Passions bring high value
Don’t assume that an activity “effective” means could not create a fun. The hobbies you pursue on the outside should always be rooted in what you are passionate about on the inside. If you find it really interesting and useful, let keep it. Just sitting still can do wonders for your brain. That increases your creativity, improves your decision-making skills, and may even force you to come up with creative solutions to existing problems.
Buffett’s hobby plays cards, a game that requires a lot of patience, strategy and tactics. "It has to be the best mental exercise" he declared. "You'll see new situations every ten minutes. Playing cards includes considering profit-loss ratios. You will calculations all the time."
Buffett also has a hobby of reading. When asked about his secret to success during a talk at Columbia Business School, he pointed to a large stack of newspapers and replied, "Read 500 pages like this every day. That's how knowledge works. It accruals, like compound interest". Even today, the billionaire spends 80% of his day reading.
Every hour is value
Malcolm Gladwell explains in his book " the Story of Success" tell a part of Gates' success is built on the foundation of the "10,000 hour rule". The rule says that to master a world-class skill takes 10,000 hours of practice. In Gates' case, it's the practice of programming.
Obviously, that's a lot of time - and not all of us can afford to spend 10,000 hours mastering a skill. The results here show that Bill Gates found something he loved, spent time on it, mastered the skill, and built a business out of it. You can follow in his footsteps and of course to the best of your ability by figuring out what you have the potential to be an expert on and then choosing activities that will help you grow in that area.
Let your mind be balanced, abstemious
You can still enjoy the mindless pleasures of life. Enjoy happy hour. Play cards or watch a Netflix movie at the weekend. Shopping if it makes you feel better. The time Bill Gates stopped watching TV and music lasted only about 5 years. It's just a matter of cutting back on the less effective ones, not forcing yourself to eliminate them altogether.
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