US Billionaire Claims Work-Life Balance For Entrepreneurs Is A Myth: "The Biggest Line Of Bulls***"

Billionaire Jimmy John Liautaud says entrepreneurs seeking work-life balance are chasing a myth. The 61-year-old founder of Jimmy John's sandwich chain believes real success requires a full-time grind with no compromise, dismissing the idea of balance while building a business. Notably, Liautaud's net worth is estimated at Rs 20,000 crore, as per Forbes. 

"Work-life balance [for entrepreneurs] is the biggest line of bulls--- that's ever been created. There's no such thing as work-life balance. When you're going to squeeze lemonade out of horses---, you've got to squeeze really, really hard ... To create something from nothing, there is no such thing," he said in a TikTok video posted by The School of Hardknocks. 

According to CNBC, Liautaud launched his first sandwich shop in 1983 at 19 with a Rs 20 lakh loan from his father. He opened 10 Illinois stores over the next decade, running them himself. Jimmy John's now has over 2,600 locations across 45 states.

In 2016, Liautaud sold 65% of Jimmy John's to Roark Capital Group, valuing the business at Rs 29,000 crore. He stepped down as chairman in 2019 after Inspire Brands acquired the remaining stake. However, Liautaud noted the growth wasn't linear. In 2002, 70 of 200 locations struggled to turn a profit.

Liautaud's next approach was to teach franchise owners about work ethic. He told them the sandwich business requires dedication, comparing it to farming. He emphasised being honest about the demands of the business, saying, "If you're going to do this, be ready to grind."

Successful entrepreneurs like Bill Gates and Elon Musk also followed the same approach initially, with Gates skipping vacations and weekends, and Musk occasionally sleeping at the office. Nvidia's Jensen Huang also worked extensively, saying he works "from the moment I wake up to the moment I go to sleep". However, they've since shifted towards better time-management and more sleep, with Gates expressing regret over his past workaholic lifestyle. 

"Don't wait as long as I did to learn this lesson. Take time to nurture your relationships. To celebrate your successes. And to recover from your losses. Take a break when you need to. Take it easy on the people around you when they need it, too," Gates told Northern Arizona University's commencement ceremony in May 2023.