Do you own your things, or do they own you?
Contributed by Cédric Waldburger, a member of Entrepreneurship Organization (EO) based in Zurich, Switzerland and founder and CEO of Tomahawk VC, providing the resources and tools that early stage entrepreneurs need to shape FinTech and DeFi’s future. He lives without a house just with 64 things in his backpack for over three years. We asked Cédric how he minimized his fortune free the focus on your passions. Here’s what he shared:
Essentialism – a branch of minimalism – is at the heart of quality over quantity. It is the art and practice of knowingly saying no to distractions and minimizing wealth so you can focus on what really matters to you. For entrepreneurs and business leaders, it’s about eliminating distractions so you can focus on what is necessary for you to achieve your goals and pursue your passion.
I adopted essentialism a few years ago so that I could better focus on my business career. The freedom I have from living with so few assets has allowed me to prioritize my focus, increase my ability to make decisions, and enhance entrepreneurial agility to fully focus on business projects. First stage joint that I am instructing in different countries.
People often tell me that they can never live with so little, but essentialism is not about the number of items you have – it’s about what you get in terms of resources, time, energy and concentration.
4 steps to minimize your assets
Are you ready to try it? Just as understanding your passion is the first step towards understanding what distracts you from it, when minimizing your wealth begins with awareness raising and challenging real needs. of the things you believe satisfies them. The end result is that there are things that you know you will leverage and therefore will serve you rather than the opposite.
Put it out
With that said, the awareness of a problem is the first step in solving it. That’s why, like any good engineer, I start by listing everything I own on a spreadsheet. Putting it on your bed works fine too, but you run the risk of things ending up on the floor after you procrastinate and suddenly realize it’s midnight. Becoming conscious of the money you own is a humble and important first exercise. In my case, the list is not something I can put together overnight because I have undesirable furniture – add a pair of jeans at my parents’ house “just in case” and a random shoes that my friend borrowed. . Being patient with myself in making a list is the best way I can raise my awareness and thus ensuring that this will be a successful mitigation without any sock missing.
Next, for each item on your list (or in your bed) ask yourself, “Have I used this in the past 90 days and will I need it for the next 90 days? ” I use this 90-90 rule because, together, it adds up to half a year. Chances are that such a timeframe is long enough to take part in formal events, the weather is colder and warmer, while also giving you a good idea of what you need every day. If you don’t need it for 180 days, you probably don’t need it, or if you just need it once, maybe it’s something you can rent or borrow.
Lots of things hold emotional value, and eliminating them can be a challenge. That’s why after the items failed the 90-90 mind test and I realized they weren’t necessary, I gathered everything in a bag and kept it somewhere out of sight. sight and out of sight. Since I live without a house, I leave my bag at a friend’s house, but the attic or corner should be fine. Putting things aside creates a mentally comfortable bridge to getting rid of them permanently because you have the option of going back and getting something if you realize you missed it or needed it. Personally, I never feel the urge to return.
Tearing off Band-Aid and finally giving away your stuff is definitely easier when you realize the potential value your vacuum cleaner has for someone else. Ask yourself, “Does anyone need this more than I do?” and feel good to receive gifts! For especially hard get-rid-of items, imagine someone else being excited to use it and getting a lot of miles from the item that got me past the tipping point. Additionally, selling some of your assets can open up possibilities for investing that are more meaningful for you and your purpose.
The minimization and the challenge of doing so makes me realize the sentence “What if… what?” surrounds the hesitation to let go. We treat our belongings as a security blanket when in reality it is a trap and our property takes our advantage. So I encourage you to ask yourself, “Do you own your things or do they own you?”