Psychologists have proven, through
continuous research, that behaviour can be learned through observation and
mirroring. They also purport that it takes 21 days of consistency for an
individual to make or break a habit. Why is this important to entrepreneurship?
Well, your success as an entrepreneur can lie heavily on the monitoring,
observing, and putting into action some of the habits, techniques and practices
that are common among entrepreneurs and small business owners who have
propelled their careers beyond the confines of “a single start up”. Many entrepreneurs credit their success to
modeled behaviour and plans. Consequently, we have compiled a list of some of the habits of successful
entrepreneurs to help steer you in the right direction and give you a head
start on your return on investment.
Watch the company you keep.
If you want to attain entrepreneurial
success, you should find yourself in the company of those who have gone before
you and have excelled. You can learn a lot from people who are smarter than you.
Don’t let their knowledge dissuade or intimidate you. They, too, once had a
startup (in many cases, of humble beginnings). Once you’ve selected the individuals you want in your circle, refrain
from suffocating yourself with business and business-related tasks and
conversation.
To elaborate, refrain from meeting these “role models” in networking and business
settings. Instead, spend time with them at sporting events, barbeques, or even
light coffee. If you surround yourself with successful business owners beyond
the context of business, you create the opportunity to learn how they live
their lives on a day-to-day basis. Conclusively,
if you intend on starting an accounting firm, make sure accountants make up a
percentage of your “friends group”.
Be intentional about your day-to-day
routine.
Successful entrepreneurs rarely complain
about lacking enough hours in the day. They recognize that everyone is allotted
the same time and it is the use of that time that is transformative. If you are
a morning person, wake up early to capitalize on your hours of productivity.
That doesn’t mean waking up at 7 a.m. It means really taking advantage of the
time you complete your best work. That may translate into a 4:00 a.m. call
time. If you want to maximize your daily productivity potential, you must take
your body’s cues seriously. Recognize that work is just as important as rest
and when there’s an imbalance of these two things, you and your business are
bound to suffer. Further, incorporate time for exercise, personal time, and
quality time with family and friends. Once you’ve settled on your day-to-day
routine, be consistent.
Make use of the short-list.
When you own a business, your to-do list is
often eternal. The list itself might
discourage you from completing any work at all. In other instances, it can be
so demanding that you seldom complete tasks in a reasonable manner. Successful entrepreneurs report condensing
tasks to two to three priority items each day. As a result, in the likely event
that you do not get through your entire list, your most important tasks are
completed daily. This technique keeps you accountable, increases task
completion, and provides an overall picture for your efficiency. Additionally, short-lists
function as an evaluation tool on how to run and grow your business.
Aim high.
Finally, one of the most common emotional
traits that persist among entrepreneurs is doubt. Will this work? What if I
fail? Is this the right way? Will they buy it? Should I do this? The
second-guessing disease is correlated with goal setting. The more you second-guess yourself, the
smaller the goals. Successful entrepreneurs aim high, no matter how unsure they
are. Why? Because starting a business is a risk and that’s where the magic
happens in many instances. Will the
outcome always be favourable? Probably not, but at least you can edit and go
back to the drawing board when something does not work out.
It is better to aim high and land somewhere
at the top than to aim low and hit the mark.
