Social media has changed everything around us, and one big testament is the fact that Generation Z is often referred to as the "Instagram Generation."
The impact of the change can be seen in everything around us, including the growing popularity of entrepreneurship these days. Hundreds and thousands of startups start and fail every year, and surprisingly, easy access to information has not changed the success rate of startups.
This happens because success in entrepreneurship is linked to hundreds of crucial factors, and one of these factors is delayed gratification. Delayed gratification plays a significant role in every entrepreneur's life, and understanding and implementing the concept can actually change your life altogether.
This post is all about helping you understand the concept of delayed gratification and giving you tips and examples that you can use in your life.
To help you get maximum value, I have gathered the information about the concept from Ashley Massengill, who is a big advocate of the concept and has earned millions of dollars while following her principles, delayed gratification being one of them.
Who is Ashley Massengill?
Before I talk about the concept, let's get to know a bit about Ashley Massengill.
Ashley Massengill comes from a really humble background and has one of the most inspiring entrepreneurial journeys in which she went from getting evicted out of her house for non-payment to making $1 Million in the first 40 mins of her launching her online course.
She is not a corporate leader with decades of experience but is a young entrepreneur who has made her millions by helping people create their careers doing what they love.
In less than 5 years into the world of business, she has made over $30 million from her companies, built 7+ sources of income, won 8 millionaire awards, and much more.
Beware of the "fake it till you make it" trap
Ashley explains that one of the biggest traps in which modern entrepreneurs fall is the "fake it till you make it" trap.
It is common for new entrepreneurs to think that way, but this mindset can actually hinder the growth of your business and life. Even after making 7 figures from her businesses, Ashley didn't begin treating herself to a luxurious lifestyle.
That started only after she created passive income streams, which in turn were paying for those luxuries.
She, in fact, shared that not following the "fake it till you make it" mindset helped her save a lot of money that she invested in growing new businesses which eventually turned into multi-million dollar companies.
Buy something after you can afford to buy it twice in cash
She has trained a lot of small business owners and experienced a common mindset in them that you can buy what you can afford to finance. Ashley has helped all of her students avoid this mindset and buy only what they could afford to buy twice in cash.
A lot of small business owners are buying exotic cars, mansions, jewelry, etc., and that actually prevents them from creating big businesses.
This is usually done to compensate for their lack of meaningful marketing. Having the right mindset and business model is more important than appearing successful on social media.
Sowing and reaping does not always happen in the same season
Delayed gratification has helped Ashley a lot with her self-discipline. She talks about how it has helped her understand that it is important to sow seeds at the right time and then allow them to harvest organically.
You as an entrepreneur deserve all the good things in the world, but there is always a time for everything, and learning self discipline will go a long way in defining your success story.
I would like to quote Ashley's own words here:
· "Sowing and reaping don't always happen in the same season, and that's OK."
I hope this post explains the importance of delayed gratification and will help you implement the same in your life and grow!
Ashley shares her experiences and such wisdom regularly on her Instagram.
To know more about her, you can check her out on Instagram @ashley_massengill.
