When hard work is needed
Although both recruiters and billionaires tout the value of a strong work ethic, Randolph isn't alone in believing that hard work is, at times, overrated.
The hard job usually equates to being the first to show up to the office and the last to leave, but it doesn't guarantee you'll become a CEO or build a multi-million dollar company. Additionally, a 2014 Stanford study found that hourly productivity drops sharply if you work more than 50 hours per week.
Instead, use your 9-5 schedule to build good relationships with your coworkers, especially if they can give you feedback on your work, Stacie Haller, chief career consultant at ResumeBuilder, tells CNBC.
< p>Sometimes, you'll need to sprint – working long hours – especially early in your career or if you're starting your own company, Randolph noted.
“When you're younger, when you don't really know what you're doing… better to work all the way down,” he said, adding “ideally, you're moving far enough ahead… to have some breathing room.”
Eventually, constant sprinting reaches a point of diminishing returns. Focusing on the important separates the hard workers from the smart workers, Randolph said.
“So many entrepreneurs [are] up all night … checking every detail [and working] so hard,” notes. However, “you don't lose the deal at 2 in the morning because you didn't check the fonts,” he adds, but when you didn't have some key pieces of feedback on time and right.