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'There's no such thing as work-life balance': US billionaire says real success requires 24/7 grind
Billionaire Jimmy John Liautaud says entrepreneurs can’t have work-life balance while building a business, claiming success requires constant hustle.
Entrepreneurs seeking work-life balance are chasing a myth, according to US-based billionaire Jimmy John Liautaud, who believes real success requires a full-time grind with no compromise.
The 61-year-old founder of Jimmy John’s sandwich chain dismissed the idea of work-life balance while building a business. “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, CNBC Make It reported.
(Also Read: Japan’s first woman prime minister dismisses work-life balance: ‘I will work, work, work’)
Who is Jimmy John Liautaud?
Liautaud launched his first sandwich shop in 1983 at 19 with a $25,000 loan from his father. He opened 10 stores in Illinois over the next decade, all operated personally. The sandwich chain now has over 2,600 locations across 45 states.
In 2016, the 61-year-old sold his majority stake in the firm to Atlanta-based private equity company Roark Capital Group at a valuation of about $3.5 billion. In 2019, he stepped down as chairman after Inspire Brands acquired the remaining stake.
However, Liautaud noted the growth wasn’t linear. In 2002, 70 of the then-200 Jimmy John’s stores were struggling. He responded by teaching franchise owners a lesson in work ethic. “I said, ‘If you’re going to go into the sandwich business, this is 24/7 365. If you’re in the cattle business, cattle need to get fed on Sunday. They need to get fed on Christmas day,’” he said.
“I started telling people the truth about the business. If you’re going to do this, you better be ready to be a grinder,” he continued.
Notably, Liautaud currently has an estimated net worth of $2.4 billion, according to Forbes.
(Also Read: ‘Meant for imbalance’: Delhi entrepreneur’s take on work-life balance sparks debate)
Other billionaires on work-life balance
Liautaud’s approach is similar to that of other tech leaders like Bill Gates and Elon Musk. While Gates once said he doesn’t believe in vacations or weekends, Musk has been known to occasionally sleep at the office and work throughout the night. Nvidia co-founder and CEO Jensen Huang also said that 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. “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,” Bill Gates told students at Northern Arizona University’s commencement ceremony in 2023.
