How to Create a Start Up and Maintain a Family
Reflecting on creating a start up while providing for a family of four, Eric Farkas has created a list of priorities that kept his business plans on track while honoring the more important things.
What's the Latest Development?
Reflecting on creating a start up while holding down a job and supporting a family, Eric Farkas has generated a list of priorities that other would-be entrepreneurs should pay close attention to. Before getting to priorities list, however, Farkas says having a supportive wife who is genuinely curious about his business has proven the most essential ingredient. Beyond that, focus on your inner life first, says Farkas, because that is the source of inspiration and motivation, two essential factors for creating a start up in today's knowledge-based economy. A close second is Farkas' relationships with other people, which he tries to maintain before just about everything else.
What's the Big Idea?
Surprisingly, even though Farkas' start up is what caused him to generate a list of priorities, it sits near the bottom. After maintaining his personal relationships comes not quitting his day job (so he can continue to provide for his family), then remaining committed to social engagements (in Farkas' case, teaching at a local church). Then comes the start up. Thanks to Farkas' priorities, he has found the only thing that "suffers" from his dream of creating a start up are his hobbies. Still, Farkas regularly leaves his laptop behind to spend time on things he enjoys. "Life is short, and you don't get these years back. Be flexible."
Photo credit: Shutterstock.com
Malcolm Gladwell teaches "Get over yourself and get to work" for Big Think Edge.
- Learn to recognize failure and know the big difference between panicking and choking.
- At Big Think Edge, Malcolm Gladwell teaches how to check your inner critic and get clear on what failure is.
- Subscribe to Big Think Edge before we launch on March 30 to get 20% off monthly and annual memberships.
You can say 'no' to things, and you should. Do it like this.
- Give yourself permission to say "no" to things. Saying yes to everything is a fast way to burn out.
- Learn to say no in a way that keeps the door of opportunity open: No should never be a one-word answer. Say "No, but I could do this instead," or, "No, but let me connect you to someone who can help."
- If you really want to say yes but can't manage another commitment, try qualifiers like "yes, if," or "yes, after."
Three scientists publish a paper proving that Mercury, not Venus, is the closest planet to Earth.
- Earth is the third planet from the Sun, so our closest neighbor must be planet two or four, right?
- Wrong! Neither Venus nor Mars is the right answer.
- Three scientists ran the numbers. In this YouTube video, one of them explains why our nearest neighbor is... Mercury!
Neuroscience research suggests it might be time to rethink our ideas about when exactly a child becomes an adult.
- Research suggests that most human brains take about 25 years to develop, though these rates can vary among men and women, and among individuals.
- Although the human brain matures in size during adolescence, important developments within the prefrontal cortex and other regions still take pace well into one's 20s.
- The findings raise complex ethical questions about the way our criminal justice systems punishes criminals in their late teens and early 20s.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.