It’s a question I’ve asked dozens of high achievers on my podcast, founders, CEOs and investors. People with stories that others would love to learn from and replicate. But the more I ask it, the more layered the answers become.
One of my recent guests, Amanda Rettig, founder of Mimco and A-ESQUE, raised a point worth thinking about. For her, success isn’t the outcome, it’s the process. The work. The habits. The discipline. She said that while the outcomes were usually very positive and rewarding, they were almost a byproduct. She explained that while they were not achieved by accident, they were not the focus. However, she added a layer by noting that her definition of success had evolved over the years.
I had another interesting conversation with Ben Thompson, co-founder of Employment Hero, when he was on the show about the strengths and weaknesses as a founder. He talked about being curious and determined from a young age. When I suggested these might be two of the most important traits for success, he stopped me and said he has one strength that he places a higher weight on than those. It is the most interesting answer and the first time I have heard it. He wants adventure.
I spoke with Colleen Callander, former CEO of Sportsgirl and Sussan. As a rising star in the world of fashion retail, she reached a point in 2007 at the age of 36 where she was burnt out. Understanding that enabled her to take a step back and reassess. She used the analogy of racing a Ferrari but not wanting to ever get off the track for a pit stop. Inevitably, in a race, that car will simply not finish the race. She emphasised the importance of sustainable success.
I spend a lot of time talking with high achievers, both clients and podcast guests. So, I get to talk to people about their success, how they define it and hear how they did it. We all get the same 24 hours in a day, and it’s incredible to see the difference in what some people can do in their days compared to others. Those days stack up and compound over time.
Now, the people I'm talking with are very successful in the field of business. But there are similar insights that can be transposed from all fields, be it business, sport, politics and life more broadly. So, while I am interviewing people who have successfully created huge businesses, often it isn’t their best skill or what drives them. They might simply love solving problems or creating products. They tend to do what matters most to them.
While success tends to be measured in outcomes and achievements by people on the outside, many of the most successful businesspeople I have met are motivated by their own definition of success. There’s often a gap in what success means to the individual and what everyone else thinks success is. More money in the bank or wins on the board are fantastic, but they are simplistic measures society uses to mark success. Real success in life happens when people understand and pursue their own definition of success.
General Disclaimer: This information is of a general nature only and may not be relevant to your particular circumstances. The circumstances of each investor are different, and you should seek advice from an investment adviser who can consider if the strategies and products are right for you. Historical performance is often not a reliable indicator of future performance. You should not rely solely on historical performance to make investment decisions.