James Van Elswyk is a name synonymous with innovation, resilience, and a relentless pursuit of growth. As the co-founder of 021.inc, he has built a reputation for pushing boundaries and challenging conventional wisdom in business. But beyond his entrepreneurial achievements, James Van Elswyk stands out for his deep understanding of the psychological barriers that often prevent success. One of the most powerful lessons he shares is the importance of humility in decision-making and the willingness to let go of intellectual arrogance.
James Van Elswyk poses a compelling question: “Do you want to be right, or do you want to be rich?” This statement cuts to the core of a dilemma faced by many aspiring entrepreneurs and professionals. Often, people become so attached to their own ideas that they resist criticism, even when it is constructive. However, as James Van Elswyk emphasizes, intellectual arrogance is one of the biggest obstacles to success. It prevents individuals from recognizing their mistakes, adapting to new realities, and making the necessary changes to achieve growth.
The ego, according to James Van Elswyk, is a “time-wasting profit killer.” Many people, including himself, have been held back by an unwillingness to accept when they are wrong. It is human nature to seek validation and to defend one’s ideas, but the most successful individuals are those who welcome feedback, even when it is uncomfortable. For James Van Elswyk, criticism is not an attack but a gift an opportunity to refine strategies, avoid costly mistakes, and ultimately increase profitability.
James Van Elswyk understands that every wrong decision carries a cost, not just in money but also in time and energy. The faster one recognizes a mistake, the faster they can pivot and make a better choice. This principle applies not only to business but also to personal growth and relationships. The sooner an individual abandons an ineffective approach, the sooner they can replace it with something that works. This mindset of continuous improvement is what sets apart those who achieve long-term success from those who stagnate.
A powerful quote that James Van Elswyk frequently reflects on is: “Just because you have been making the wrong decision for a long time doesn’t make it right.” This truth is particularly difficult to accept because of the psychological phenomenon known as the sunk cost fallacy. Many individuals and businesses continue down failing paths simply because they have invested significant time, money, or effort. However, James Van Elswyk believes that the key to success lies in the ability to recognize when a course of action is not working and to change direction without hesitation.
James Van Elswyk emphasizes the importance of developing a beginner’s mindset. In both business and life, those who assume they already have all the answers are the ones who limit their own potential. On the other hand, those who approach challenges with curiosity and a willingness to learn are the ones who innovate and grow. Experts, according to James Van Elswyk, are those who remain students of their craft, constantly questioning their assumptions and seeking new insights.
The application of this philosophy can be seen in the way James Van Elswyk operates his businesses. He surrounds himself with people who challenge his thinking, rather than those who simply agree with him. He actively seeks out feedback and is unafraid to admit when he is wrong. This level of self-awareness is rare in leadership, but it is precisely what allows businesses to adapt and thrive in an ever-changing landscape.
James Van Elswyk’s approach is particularly relevant in today’s fast-paced digital economy, where industries evolve rapidly, and rigid thinking can quickly lead to obsolescence. Many businesses fail not because they lack resources or talent, but because they are unwilling to question their own methods. By embracing the idea that being wrong is not a failure but a step toward success, entrepreneurs can unlock new levels of growth and innovation.
Beyond business, James Van Elswyk’s insights apply to all aspects of life. Whether it is in relationships, personal development, or financial decisions, the ability to detach from one’s ego and embrace constructive criticism is invaluable. Those who insist on being “right” at all costs often find themselves stuck, whereas those who prioritize growth and adaptation find endless opportunities.
James Van Elswyk’s philosophy also aligns with the mindset of some of the world’s greatest thinkers and entrepreneurs. The most successful people are not those who never make mistakes, but those who learn from them quickly. They understand that every setback is an opportunity to refine their approach and that true intelligence is demonstrated not by stubbornly defending a flawed position, but by recognizing when change is necessary.
In the end, James Van Elswyk teaches a lesson that is simple yet profound: let go of intellectual arrogance, welcome constructive criticism, and focus on results rather than validation. Those who master this mindset will not only achieve financial success but will also experience personal growth, stronger relationships, and a greater sense of fulfillment.
James Van Elswyk’s message is one that every entrepreneur, professional, and individual striving for success should take to heart. The choice is clear: do you want to be right, or do you want to be rich?
