Chapter 44: Choose Monogamy Over Polygamy - The Millionaire Fastlane

CHAPTER 44: CHOOSE MONOGAMY OVER POLYGAMY

No horse gets anywhere until he is harnessed. No steam or gas ever drives anything until it is confined. No Niagara is ever turned into light and power until it is tunneled. No life ever grows great until it is focused, dedicated, disciplined.
~ Harry Emerson Fosdick

Cheating Spouses Aren't Good Partners

As we near the end of our conversation; I must address the Fastlane's need for faithfulness … monogamy.

In college, my friend Markus Tekel was quite the ambitious entrepreneur. And Markus, if you're reading this, I apologize for the call out. But what the hell were you thinking? Markus would get involved in a different business every week. One week it was some moronic MLM program, the next it was some turnkey ad scheme found in the back of an entrepreneur magazine, and the next it was some classified ad program. Different week, different opportunity. My friends eventually coined this opportunity-hopping neurosis the “Tekel Syndrome.”

The Tekel Syndrome is a compulsion to scatter your focus across different projects and opportunities. It's also a symptom of money chasing versus need filling. When you invest your time into five different businesses, you become a polygamist-opportunist. The idea is to toss as much shit on the wall as possible because something's gotta stick. Something's gotta make me some money!

A scattered focus leads to scattered results. Instead of one business that thrives, the polygamist-opportunist has 20 businesses that suck. Ten businesses earning $10,000 cumulatively are not better than one business that does it singlehandedly. When you segregate your effort among assets, you build weak assets. Weak assets don't do heavy lifting, and they don't build strong pyramids. Weak assets do not generate speed. Weak assets do not scale to multimillion-dollar valuations. Weak assets do not accelerate wealth; they build income to pay the month's bills only to start over again next month.

I forayed into polygamy when I started another Web business that mimicked the model of my current company. Once launched, the new Web business siphoned time away from my core breadwinning company. In effect, I cheated on my spouse and it showed. Time once allocated to my thriving company now went to my infant company. The results were not good, and I had four options:

1. Continue cheating on my existing business,
2. Hire someone to manage the existing business.
3. Hire someone to manage the new business.
4. Discontinue the new business.

Ultimately, I discontinued the new company, because I reasoned that hiring additional employees would inject management time into my life.

Monogamy Leads to Crazy Fun Polygamy!

I don't know any highly successful polygamist-opportunists unless they were monogamous first.

Seriously, think about it. The richest people in the world got rich by focusing on one core purpose, not by diverting focus. Lebron James wouldn't be any good at basketball if he spread his interests around. He focused on one thing and one thing only: basketball. He ate, slept, and shit hoops. Now, with his legendary status and millions in net worth, he can afford to be polygamous with his interests.

To hit the top of your game, business or otherwise, you have to eat, live, and shit your thing. If you're dabbling in 10 different things, your results will be dabbling and unimpressive. Focus on one thing and do it in the most excellent way. Some of the greatest tech entrepreneurs built impressive companies by 100% committed focus, not diverted attentions into other ventures. After successful entrepreneurs hit the mother lode of wealth, then, and only then, do they divert into other ventures that deviate from their core business. In other words, their monogamy led to polygamy.

What's usually the first thing an entrepreneur does after they sell their company for $50 million? They go out and invest in multiple companies, get involved in philanthropy, and spread out their passions. Why is polygamy now possible? Money. Money buys systems, like human resource systems, and money systems that buy time.

Fastlane success comes from monogamy; not split attentions among wives and mistresses. It's marriage. Yes, good old-fashioned monogamy. Focus on one Fastlane business and kick ass at it.

Chapter Summary: Fastlane Distinctions

• Tekel Syndrome sufferers are polygamist-opportunists who opportunity hop.
• A weak business commitment commits you to weak assets.
• Weak assets do not accelerate wealth.
• The most successful entrepreneurs lived their business and were 100% committed to it.
• Successful business monogamy can lead to successful business polygamy.