‘There is no such thing…’: US billionaire says work-life balance for entrepreneurs is ‘bulls***’, reveals one thing that’s required for successful business

According to Forbes magazine, Jimmy John Liautaud’s estimated net worth sits at $2.4 billion.

Despite finishing near the bottom of his high school class, Jimmy John Liautaud built a billion-dollar brand from scratch (Image source: @jimmyjohnliautaud/Instagram)

For billionaire entrepreneur Jimmy John Liautaud, the one thing that separates top business owners from everyone else is that they work relentlessly. The 61-year-old founder and former chairman of the Jimmy John’s sandwich chain said at The School of Hardknocks that he didn’t believe in the concept of work-life balance, at least not for entrepreneurs, CNBC reported.

“Work-life balance (for entrepreneurs) is the biggest line of bulls*** that’s ever been created,” Liautaud was quoted as saying by the television channel. “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.”

Despite finishing near the bottom of his high school class, Liautaud built a billion-dollar brand from scratch. At 19, he borrowed $25,000 from his father and opened his first sandwich shop in Charleston, Illinois, in 1983, the report said.

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In October 2024, he said on the American Optimist podcast that he operated his first 10 stores himself, all located in Illinois, before expanding through franchising. Today, he has operations in more than 2,600 locations across 45 states, CNBC stated.

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The report further stated that, in 2016, Liautaud sold a 65 per cent majority stake in his company to Atlanta-based Roark Capital Group in a deal valued at roughly $3.5 billion, according to him. He later stepped down as chairman in 2019, after Roark-owned Inspire Brands acquired the remaining shares for an undisclosed amount.

Recalling hardships and challenges in the field, Liautaud said that in 2002, about 70 of his 200 stores were struggling financially. “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.”

According to Forbes magazine, Liautaud’s estimated net worth sits at $2.4 billion.