5 Habits of Successful Entrepreneurs
Today, I intend writing about what makes a successful entrepreneurs anywhere in the world.
Recently, I have been asking myself some questions, “why are some entrepreneurs far successful than others?” This question led me into researching on successful entrepreneurs.
I started reading lot of books, watching YouTube videos, reading social media posts and anything that has to do with entrepreneurs. I picked some successful entrepreneurs like Patrick Bet David, Daniel Ally, Gary Vaynerchuk and few others and followed then carefully.
I want to become a successful entrepreneur and so I made this a personal project and after finally getting result (my personal journal is filled with notes and quotes), I intend sharing the summary of what I learnt from the few successful entrepreneurs that I followed and still following.
I am going to share with you the so-called “secrets of success” practiced by every person who ever achieve anything worthwhile in life.
One thing I discovered on my research was “successful people have success habits and unsuccessful people do not”.
“Habit my friend is practice long pursued, that at last becomes the man himself”—Evenus
The good news about habit is that all habits are learned as the result of practice and repetition.
So here are the 5 most important habits I learnt from unsuccessful entrepreneurs.
- They don’t joke with Personal Development
I learnt this after listening to a YouTube video by Patrick that millionaire entrepreneurs read at least two books a week and they also learn from proven mentors.
If you want to become successful in your business, you need to get serious about self-improvement and adopt changes in your personal and professional life on a daily basis.
Resolve today to be the very best at what you do. Set a goal for yourself to join the top 10 percent of your filed, whatever it is.
For me, I have started mine. I have already started reading one book every two weeks which means I will be reading two books in a month, after which I will take it further to one book every week.
Not only do successful entrepreneurs read books, they learn from proven mentors and coaches. They listen to tapes that can help then become better.
I never thought Bill Gate one of the wealthiest men in the world could read books unless it is written by people who are wealthier than him, not until I saw a picture of him reading a book on investing, and then I thought to myself, who am I?
Your life only gets better when you get better. Continuous learning is the minimum requirement for success in any field.
- They all have a To-do List
“20% of your “to-do list” will be responsible for 80% of your results”.—Unknown
I know that quote was gotten from the 80/20 Rule which is another name for the Pareto Principle, which is one of the most important and powerful of all time-management theory.
After I discovered that all successful entrepreneurs work with a to-do list, I started following their footstep and guess what! I have been so organized ever since.
I have taken charge of my life and time, I know when to do things and at what time. A to-do list help you prioritize your daily task and keep you organized all day. As an entrepreneur, many things always go through my head which keeps me disorganize sometimes.
Most times, talking to one of my team writers might just flash into my mind and at the same time, I will feel like creating a content for my client then I will remember that I have not finish a chapter of the book I was reading and when I mistakenly go online to see if I have any mail or message on Facebook, I am distracted again.
But having a to-do list keeps me organize, I know what to do daily and what I am going to do the next day. I do create my to-do list every night before I sleep, so when I wake up, I already know what I should be doing throughout that day.
My business income has increased by 20% because I am now more organized in delegating my task and concentrating more on the 20% of my to-do list. If you must succeed as an entrepreneur, you should have a to-do list.
- They don’t trade Time for Money
One of my money mentor Daniel Ally once said, “If you work for money, money won’t work for you”. So true!
Successful entrepreneurs don’t trade their time for money because they know how money works. Let me ask you a question, “Do you make money while you sleep?” if no, then you are not yet a successful entrepreneur.
I learnt this so quickly then I started looking for how I could make money while I am sleeping. Today, I have my money invested in the stock market and also in real estate, and my money is working for me, making more money. That’s how successful entrepreneurs operate. They put their money to work while they think more on how to increase the output.
Learn this habit as quickly as you can, how long will you continue to trade your time for money? You will soon grow old, what have you in place that will qualify you into the resort of successful entrepreneurs.
- They always Increase their Potential Earnings
This is the best habit I learnt so far and I am putting it to work presently, I learnt that your most valuable financial asset is your earning ability, your ability to earn money.
“There are risks and costs to a plan of action. But they are far less than the long-range risks and costs of comfortable inaction.”—John F. Kennedy
One of the key questions that most entrepreneurs always asked before they became successful is, How can I increase the value of my services to my customers today? This question makes them think of possible ways they can increase their earning ability so they can earn more.
I won’t say too much but hear this and be humble, today’s market only pays excellent rewards for excellent performance. Your earning ability today is largely dependent upon your knowledge, your skill, and your ability to combine that knowledge and skill in such a way that you contribute value which customers are going to pay for.
I have drawn my strategy in which I will increase my earning potentials and I am working towards it.
Successful entrepreneurs use leverage to get more things done. I do it personally in my business. I can’t do everything in my business, so I get people who are good at writing and create a team where we work towards a target.
I spend most of my time prospecting with potential client while my team writers create content for my clients. I take leverage of time because to a business man, time is money and the one of the most valuable asset of business men.
If you want to succeed in your business, look for ways to assign some specific task to people who are good at it so you can spend more time building your business. Don’t kill yourself with management, accounting, prospecting, selling and promoting, learn to use to power of leverage and free yourself, this is how millionaires operate.
I have perfected these habits as an entrepreneur and I want you to also do likewise so you can grow yourself to becoming a successful entrepreneur in the future.
Your comments are welcome!