An American investment banker was taking a vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.
The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them. The Mexican replied, “Only a few hours.” The banker then asked why he didn’t stay out longer and catch more fish?
The Mexican fisherman replied he had enough to support his family’s needs.
The American then asked, “But what do you do with the rest of your time?”
The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life.”
The investment banker scoffed, “I am an Ivy League MBA, and I could help you. You could spend more time fishing and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat, you could buy several boats until eventually, you would have a whole fleet of fishing boats. Instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery. You could control the product, processing and distribution.”
Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City where you would run your growing enterprise.”
The Mexican fisherman asked, “But señor, how long will this all take?”
To which the American replied, “15-20 years.”
“But what then?” asked the Mexican.
The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You could make millions.”
“Millions, señor? Then what?”
To which the investment banker replied, “Then you would retire. You could move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”
This is a wonderful story and example. The modern-day struggle between the conventional lifestyle and a more alternative lifestyle. The idea that we must work as hard as possible, to accumulate as much wealth as we can, so that we can retire. Once we retire, we can then be happy, then do the things we wish to do.
The other point of view, why wait? Why not be happy now? Why not do some of those things now, today and do them for as long as we can?
Same destination, different path
One of the main similarities in this story is that both paths end up living in a small coastal fishing village. Where they sleep late, fish a little. Play with their kids, take a siesta with their wife. Stroll to the village in the evenings where they sip wine and play their guitar with their amigos. If it was a journey, both stories have the same destination.
Both stories have very different paths.
The American businessman is making a small single boat business into a small fleet. Then going international before selling that business for millions. Then retiring and settling down in a small coastal fishing village. The idea that we must work hard at something that we may not like. To make as much money as possible, so we may live the life we want at retirement.
The Mexican fisherman realises what he is after is already on his doorstep. The lifestyle he wants doesn’t need millions. It’s not an expensive lifestyle, he requires just enough to fund his needs. He believes in building a lifestyle today that he wants, can enjoy and makes him happy. A lifestyle that is sustainable for the rest of his life, there is no need for retirement. His happy lifestyle only ends when he drops off this mortal coil.
Education dictates the path
One of the reasons the two men choose different paths is their education. Their knowledge and their skills.
The American businessman was bred and born to go into business. He has a Harvard MBA, he must have excelled at school, especially in business. He would have been surrounded by others with a similar background and mindset. He would have made influential business connections and probably already built successful businesses. His mind is wired to look for business opportunities, take hold of them and build into dollar signs.
The Mexican fisherman would have been taught how to fish, most likely by his father. This has probably been passed down through the family, through the generations. He was probably taught about sustainable fishing. Catching just enough for what he needed then putting the rest back so there would be fish to catch tomorrow. Other small family business owners probably have the same idea. He would be surrounded by friends and family who make just enough to find their needs. His friends may be the butcher, the baker, the fruit and vegetable owner, the barber. All making just enough to fund their happy lifestyles.
Both men solve their problem using their own education. Using their own knowledge and skills for the solution.
When all you have is a hammer, everything looks like a nail.
Definition of success
Part of their different paths or solutions is also dictated by what they see as success. Their education, society, family and friends have probably shaped this over their lifetime.
The American businessman doesn’t see the retirement as the success. He sees the making of millions of dollars as the success, he doesn’t seem to mention anything else. His success is not spread over several goals, there is one single ultimate goal, to make millions. If he fails at making millions he is a failure.
The Mexican fisherman sees his happiness as his success. His happiness and his success comes from several different areas in his life. His fishing, his wife, his kids, his friends, his music. He has had a successful day if he is able to experience and enjoy all these things in his day and in his life. He has been successful if he is able to achieve all his needs. Because he has so many, if one doesn’t work out, he probably won’t worry about. His day wouldn’t have been a failure.
‘A bit of each’ and ‘all in’
The American businessman has one area of concern for success and happiness. To make money. There is no mention of friends, family or health. He believes everything that defines him is centred around one thing, business. So he pours all his time and resources into it. He is ‘all in’. He is putting everything important in life into one thing. Surely past a certain point, you put a lot of effort in and you get very little increase. This is the law of diminishing returns. Past a certain point your gains become so small they are barely noticeable.
The Mexican fisherman spreads his time over several important areas. His fishing, his sleep, his kids, his wife and his friends. His success is fulfilling all these activities, not one. He also concentrates on what the most important activity is for each. For instance, he ‘plays’ with his kids. He ‘sips wine’ with his friends. This is Pareto’s law. Pareto’s law is about the 80/20 rule, the idea that 80% of our results come from 20% of what we do. If we can find what the important 20% is then we should prioritise that, as that dictates most of our results.
Summary
When we compare the American businessman with Mexican fisherman. Their ideas of achievement. Their ultimate goal of living in a small fishing village. They both share many similarities and differences.
They both use what knowledge and skills they have to solve the problem. One uses business and the American way of life, while the other uses fishing and the Mexican way of life.
The American craves money as a display of success. The Mexican craves the success of experiencing all the important parts of his life. His fishing, his family and his friends.
The American puts all his energy, time and money into business. The Mexican spreads his time, energy and money doing the most enjoyable activities.
In life, we have to understand who we are, decide who we want to be and plan which path we are going to take.
Do you take the path that puts off living your dream and being happy until you retire?
Or do you choose the path that builds a happy and fulfilling lifestyle now? and enjoy it for as long as you can. A path where you do not think about retirement but a lifestyle you can enjoy for all your life?
Takeaways
You have to choose your own path, no one can choose it for you
Use the tools, education, knowledge and skills you already have
Define what your own success is, not what someone else says it is
Decide what are the important parts of your life. What are the activities that will get you your greatest happiness?
Footnotes
I don’t remember where I first came across the Mexican fisherman story. I borrowed a copy of the Mexican fisherman from this website here
This website suggests the origin of the Mexican fisherman story
More information relating to the law of diminishing returns
More information relating to Pareto’s law
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