12 Success Habits for Entrepreneurs
To be an entrepreneur is about having a mindset where you’re willing to sacrifice the security of a stable job for a life of freedom, and the chance of making more money than you ever thought possible.
Once you have this mindset, you’ll need the right habits to back you up. Your habits are the foundations upon which you’ll build your business empire. Every successful entrepreneur has habits conducive to success.
In this article, we’ll look at 12 success habits you should inculcate, if you’re planning on being an entrepreneur.
- Continuous learning
While most people never study or try to learn anything new once they’ve left school, an entrepreneur does NOT have this luxury. You’ll need to learn more and test more in order to scale and improve your business.
Your success is a reflection of your business skills and knowledge – and you’ll need to invest in yourself constantly to get better. - Avoid procrastination
Procrastination is the thief of time… and every entrepreneur worth his salt will know that time is money and should not be frittered away. Treat time like currency and spend it wisely. - Action despite fear
To be a successful entrepreneur will require you to step out of your comfort zone constantly. You may be fearful… and this is normal, BUT you will have to take action despite fear of failure. This is a habit you must build. - Step out of your comfort zone
All magic takes place OUTSIDE your comfort zone. Do not let fear hold you back from learning and doing. Whenever you wish to do bigger and better things, you will face struggles within yourself.
In his book. ‘The War of Art’, Steven Pressfield refers to this mysterious force as ‘resistance’. It’s a formidable foe that tries its best to keep you from becoming your better self. In order to beat resistance, you must get comfortable being outside your comfort zone. - Consistency
You’ve heard this a thousand times and it’s still true. Be consistent with your thoughts and daily actions. - Exercise daily
Most successful entrepreneurs set aside time daily to engage in exercise. While you do not need to strive to build the type of muscles seen on bodybuilders, you should spend 30 to 60 minutes daily on being active.
Have a mix of cardio, resistance training and stretching in your fitness regimen. You can do them on different days as long as you’re being active daily. - Spend some quiet time
Being an entrepreneur can be draining and stressful. It’s a good practice to spend about 15 to 30 minutes daily in quiet, by yourself. You may meditate or just sit in silence and visualize your best life. Give yourself the time you need to calm your mind and be at peace. - Manage your money wisely
This is pretty straightforward. Don’t spend money that you don’t have to impress others who don’t care. Instead, reinvest a portion of your earnings back into your business while saving another portion of it so you have a buffer in case there are negative situations in your business.
A flashy lifestyle is unnecessary… and best avoided unless you are filthy rich and can afford the finer things in life without going into debt. - Have big goals
Don’t aim small. Set big goals for yourself so that you’re inspired. Then break down those goals into smaller milestones and targets. Then aim and hit each target until you reach your goal. - Engage in deep work
The term ‘deep work’ was popularized by Cal Newport in his book titled ‘Deep Work’. This is work that’s highly important and necessary in order to elevate your business. Generally, after completing deep work, you’ll be mentally exhausted and tired – but in a good way.
You’ll know that you’re doing work that matters rather than just being busy and doing unimportant tasks. Make it a habit to do deep work daily. This is what separates the successful entrepreneurs from the unsuccessful ones. The work you do will determine the future of your business. - Surround yourself with the right people
Movie producers hang out with directors and actors. Writers hang out with publishers and other writers. Entrepreneurs hang out with other entrepreneurs.
That’s how it is. The people you surround yourself with will affect your life and business. By being around like minded people, you’ll have friends who could support your business and/or offer you valuable advice.
If you mix with the wrong crowd, you’ll get distracted and run your business into the ground. For example, if all your friends are more interested in partying and getting drunk, you’ll end up doing what they’re doing – and this will not bode well for your business.
Not everyone can go where you’re going. Sooner or later, old friends will have to make way for new ones that are in alignment with your goals. - Monitor your progress
Keep track of your actions, goals and business. To evaluate the process, you must measure your progress. So, keep an eye on your growth as often as you can.
The 12 habits above are a few of many. It’s best to master the ones above first and then develop more positive habits that help you to flourish as an entrepreneur. The journey never ends.