Advice for Entrepreneurial Success
The phrase “habit-forming” is often associated with negative and unhealthy connotations. However, forming habits to make you a successful entrepreneur are mostly healthy (aside from the long days and nights). There have been many studies on how long it takes to form a habit and some say weeks to months depending on the new obsession. Theories differ but there is one thing they all agree on – if a new habit benefits you, it is worth the time, hard work and patience.
Entrepreneurship isn’t a path for the timid. In fact, it isn’t a path at all. It’s more like Mt. Everest. And like Mt. Everest, many people have reached the summit and lived to tell about it. The journey wasn’t easy but these individuals relied on habits they formed to make it to the top. The victors are a unique crowd and their advice should be noted by any entrepreneur planning the same trip.
After some extensive research we collected a wide variety of successful entrepreneur habits to share. We know our truCrowd audience is diverse and we wanted this blog to appeal to everyone. While some of these habits may not be for you, if one of them helps you reach your goals, our efforts were totally worth it.
Here are six habits of successful entrepreneurs:
Create a Regimented Schedule
Rameet Chawla – Founder of Fueled, via Entrepreneur
“My overarching goal is to be consistent in my schedule, and as a result, I live a lifestyle that allows me to maximize the amount of work I get done. I believe this type of prioritization has made a huge impact on how quickly Fueled has grown.
My dinner ends at 11 p.m., and I always have a solid work session afterwards until 3:30 a.m. Setting aside a block of time in my schedule for uninterrupted productive creation is vital to my work process. It’s when I answer emails and do my thinking around bigger ideas without any distractions. Then I go to bed every day at exactly 4:00 a.m. and typically wake up without an alarm clock.
Other people might want to focus on other areas, like family, but a consistent schedule is key.”
Don’t Set Out to Be Rich
Paul B. Brown – Best-selling author on startups and entrepreneurship, via Forbes
“The best entrepreneurs don’t have making a fortune as their goal, as they start off. Wealth is just (an extremely pleasant) byproduct.
Why not focus on gaining wealth? Well, if your primary objective is to get rich quick, you are bound to cut corners, short-change your customers, and fail to take the time to truly understand what the market needs. And that is true whether you are trying to get your company off the ground, or are introducing a new product or service in order to make this quarter’s numbers.
Instead, identify the market need and get to work.”
Celebrate the Little Successes
Kate Erickson – Content Creator and Community Manager for EntrepreneurOnFire, via EntrepreneurOnFire
“Too often we get wrapped up in the craziness of it all, and we forget to celebrate the little successes that we have each week, each month, each quarter and each year. I say “little successes” because the big ones might be harder to come by, and that’s what makes it tough to be an Entrepreneur.
By making it a habit to celebrate the little successes, you’re allowing yourself to recognize progress, which is key for continued growth, motivation and inspiration. You’re only making it more difficult on yourself if you never acknowledge that you ARE making progress and that you ARE doing things right.
Enjoy your journey.”
Review Critical Questions through Different Lenses
Danielle Fong – Co-founder LightSail Energy, via Entrepreneur
“Usually, the simple answers that come quickly do not satisfy me. But instead of giving up or forgetting it, I work at the problem each day from different angles, under different lenses — which can include but are not limited to: looking at extremes, considering what essential assumptions are and how to test them, and discovering how a different industry might solve a problem. Eventually I find some real traction with an idea that seems novel and has a good chance of working.”
Learn from Your Failures
Daniel Scalco – CEO of Digitalux, via The Huffington Post
“Resilience and being able to reflect on your failures is what separates good entrepreneurs from the great ones. The ability to get knocked down over and over while maintaining focus on your end-goal requires tremendous mental fortitude. We often see the most successful business owners invite failure into their lives. A common mantra in the tech world is, “fail fast, fail often”. In doing so you spend less time actually failing and more time learning about what got you there so you don’t repeat your mistakes.”
Seek the (Ongoing) Advice of a Mentor
Richard Branson – Legendary Entrepreneur, via Entrepreneur
“Mentoring has had such a profound impact on my life and Virgin’s success that I feel it’s paramount to any promising businessperson’s journey. As I have written before, I attribute much of the success of Virgin Atlantic to my relationship with my own mentor, Sir Freddie Laker, the founder of Laker Airways. I wouldn’t have gotten anywhere in the airline industry without Freddie’s down-to-earth wisdom. He was actually the one who told me to make myself the face of the company – a piece of advice that has influenced my entire approach to business.
If you are in a position to share the skills you have learned, you should give back by becoming a mentor yourself. Finding success is hard work, and entrepreneurs could use a little help along the way.”
We all know success doesn’t come overnight. No entrepreneur will wake up tomorrow with these six habits embedded into their lifestyle, but that doesn’t mean they can’t start trying. In order to make something a habit you must work at it and repeat it until it becomes second nature. And by that point, it won’t be a habit – it will be your method of operation.
Do you have any habits or comments to share? Please leave them below!