6 Habits of Successful Entrepreneurs

30/08/2019 Image
The world over, roughly 50% of businesses fail in their first year.
 
Despite this, there still seem to be entrepreneurs around that seem to have the Midas touch.
For upcoming entrepreneurs, it’s only natural to have curiosity as to what these entrepreneurs do differently from their counterparts.
 
We have compiled the top 6 habits exhibited by successful entrepreneurs across the board.
Read. Borrow. Implement.

1. Consistency


The human mind and body thrive on consistency and schedule.
 
One beneficial schedule is having a set going to bed and waking up time each day. To go alongside this, be aware of the blocks of time when you are most productive.
 
The mantra “early to bed, early to rise”, does not work for everyone. There are people whose most productive block is before daybreak while others tend to be at their best smack in the middle of the night.
 
Warren Buffet, Elon Musk are early risers while Alexis Ohanian and Aaron Levie are night owls.
The goal is to find your optimal productivity hours and maximize on these.

2. They Are Keen on Self-Care


One of the top reasons people give for going into business is the intention to have shorter working hours and more freedom.
 
The reality is far from it.
 
When starting out, it’s common to work longer hours than you did in employment. This will also include nights and weekends as start-ups can be quite involving.
 
This notwithstanding, it’s a huge mistake to let yourself go in favour of work.
Successful people create time for self-care. Whether this means a nice meal, communing with nature, or just shutting off and doing nothing for an hour a day.
 
One of the more notable names in aviation, Richard Branson, says he takes 20 cups of tea each day. He uses this time to chat with friends, reenergize himself, or just have a few minutes to himself.

3. Continuous Learning


Entrepreneurship is a never-ending lesson.
 
Aside from the hands-on skills and expensive mistakes, you will learn from, strive to expand your knowledge base with courses, seminars, and so on.
 
If it seems like you hardly have time to breathe, consider taking business courses online. With this, you have the flexibility to create a school schedule around your work schedule.
 
Whether you take a leadership, bookkeeping, cybersecurity, or management course, the skills you learn will be instrumental for both your personal growth and business success.

4. They Have a Vision


Successful business people speak a lot on the importance of clearly outlining a vision for a business.
 
This mental picture keeps you focused on your long and short term goals and helps you see where you are at and where you need to be.
 
A level of flexibility is required here as well to enable you to identify your failures and the aspects of your vision that no longer serve your business interests.
 

5. They Surround Themselves With the Right People

 
Businesses are multi-faceted: you will not be competent in all aspects of your enterprise.
 
It’s therefore imperative to surround yourself with a strong team that brings their different expertise on the table. Each member focuses on what they are great at.
When you manage to strike the right balance, your collective efforts will definitely pay off handsomely.

6. They Are Not Risk-Averse


Risk is a constant in our lives, and this spills over into entrepreneurship.
 
The most successful business people recognize this and are willing to take calculated risks.
If you are keen on entrepreneurship, open yourself to the concept of risk. However, take the time to analyze which risks are worth taking and which ones and not.
 
With a great business idea in mind, a healthy amount of self-belief and the commitment to cultivate these habits, you are well on your way to being a successful business person.
 
Along the way, expect failures and a few mistakes and accept these as part of your learning curve.

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