About 70 percent of lotto winners lose or spend all that money in five years or less! Winning all that money at once was such a shock to their system. These winners weren’t ready for it. Over time, I’ve realized that the same concept can apply to career moves. I used to see people my age move into more prestigious positions or win lauded awards, such Forbes’ 30 Under 30, and feel like I was behind. Sometimes it just seemed like everybody else was shooting forward more rapidly than I was. However, as I started to move up the ladder, I learned that a steady climb is more valuable than a rapid ascent.
The Illusion of Instant Gratification
In our fast-paced, achievement-oriented society, it can be tempting to focus on quick success and instant gratification. We may want to get ahead as quickly as possible. We want to achieve our goals and aspirations with low effort and little delay. Everybody dreams of winning the lottery because of what it would mean for him. How many people actually put in the work to make those financial dreams a reality on their own? Few people do, because of how hard it is.
It’s much easier to dream about winning the lottery or hope you’ll get an amazing promotion as quickly as possible.
The Risks of a Rapid Ascent
However, this approach can often be short-sighted and unsustainable. Rapid ascents can be exhilarating and rewarding, but they can also be precarious and unstable. When we rise too quickly, we may not have the time or opportunity to develop the skills, knowledge, and experience we need to sustain our success. We may also make mistakes and missteps that can derail our progress. These mistakes may even have negative consequences for ourselves and others. I’ve heard of countless professionals who receive astronomical promotions, only to suffer dramatic falls.
Here are a few prominent examples of people who made it onto Forbes 30 Under 30 lists only to fall from grace years later:
- Elizabeth Holmes, the founder and former CEO of Theranos, was once considered a rising star in the business world. She ended up being arrested when it was revealed that her company had engaged in fraudulent activities and her proprietary blood-testing technology was not as revolutionary as promised.
- Sam Bankman-Fried is a prominent figure in the cryptocurrency industry and the CEO of Alameda Research, a quantitative trading firm. Although he has had a successful career, he has faced criticism and legal troubles for his alleged involvement in market manipulation, insider trading and wash trading.
- Charlie Javice is a businesswoman and founder of Frank, a student loan refinancing company, she became well-known in startup world and media, but her reputation was tarnished after it was reported that the company had misled customers and had not delivered on its promises.
Elizabeth, Sam, and Charlie serve as warnings for the rapid ascent. Before the age of 30, each of them reached points in their careers that many people will never reach in their entire lives. They seemed to get it all so quickly, and then they lost it all even more swiftly.
The Benefits of a Steady Climb
On the other hand, a steady climb can be a more sustainable and rewarding path to success. You can benefit from taking the time to build a strong foundation, develop your skills and knowledge, and learn from your experiences. This will make you better prepared to handle the challenges and opportunities that come our way. You will be able to make thoughtful decisions, and navigate the twists and turns of your lives with greater confidence.
In addition, a steady climb can provide you with a sense of fulfillment and accomplishment that goes beyond just achieving your goals. When you take the time to learn and grow, you can gain a deeper understanding and appreciation of yourselves, your work, and the world around you. You can develop a greater sense of purpose and meaning, and can find joy and satisfaction in the journey, as well as the destination.
10 Tips to Help You Make a Steady Climb
Here’s a list of tips you can take to help you make a steady climb toward success:
- Set specific, achievable goals that align with your values and interests
- Build a strong foundation of knowledge and skills in your field
- Continuously learn and seek out new opportunities for growth
- Build a network of mentors and peers who can provide guidance and support
- Reflect on your experiences and learn from your mistakes
- Be patient and persistent in your pursuit of success
- Prioritize self-care and maintain a healthy work-life balance
- Cultivate a sense of purpose and meaning in your work
- Enjoy the process and finding satisfaction in the journey, not just the destination
- Be open to change and adaptable in the face of unexpected challenges and opportunities
The True Value of a Steady Climb
It is easy to get caught up in the idea of quick success and instant gratification, but as you have seen from the examples of Elizabeth Holmes, Sam Bankman-Fried, and Charlie Javice, a rapid ascent can be precarious and unsustainable. A steady climb, however, can be a more valuable and fulfilling path to success. By taking the time to build a strong foundation, develop skills and knowledge, and learn from experiences, you can be better prepared to handle challenges and opportunities that come your way. A steady climb can also provide you with a sense of fulfillment and accomplishment that goes beyond achieving your goals. It’s important to remember that success is not just about reaching the destination, but also about the journey, and the growth that it brings. So, let’s take our time and enjoy the climb.
