Smart and successful entrepreneurs like Bill Gates have habits they follow. These habits contribute to their success in one way or another.
If you have been running a business for a while or you are just starting or implementing a new business idea and you are thinking of becoming a great and world-class entrepreneur, you should also learn about these 10 habits of successful entrepreneurs in your daily life.
These success habits are accumulated together after noticing and interviewing most of these smart and successful entrepreneurs about their businesses and social lifestyles. They do these habits on regular basis in order to drive their company to success and achieve more than their competitors.
As a smart entrepreneur, i know this is what you will be aiming for – to be the best among your competitors and as well maintain healthy and social lifestyle. Most entrepreneurs believe only in buying and selling forgetting that without these successful habits, there won’t be a reception.
What are these success habits that you must always inculcate?
10 Best Habits of Successful Entrepreneurs You Should Learn
1. Failure is part of the process
No successful entrepreneur will finish his/her life story without making mention of the times he/she had failed numerous times. FAILURE and SUCCESS moves together; if you can’t accept failure then forget about success – You either accept it or quit because of it.
As a smart entrepreneur, you must be able to accept any failure that might come your way and use the chance to rethink and re-structure your business strategies through these tips.
No matter how versatile you are in your chosen business field and you are AFRAID of FAILURE, opportunity and success will run away from you.
One of the the world-class entrepreneurs named Sophia Amoruso, advised that YOU – Entrepreneur should never take anything PERSONALLY, don’t say NO for an answer you never know what you’re going to learn along the way.”
This woman has met a lot of circumstances that should have trigger her to quit but, she PUSH on till present. Her clothing brand which he stated as a “Mini Store” on eBay moved on to become the fastest retailer store in the world in 2012.
To become a successful entrepreneur, always be ready to accept FAILURE and learn how to keep moving even if you are knocked down.
2. Provides Genuine Value
If success is your dream as an entrepreneur, then you must always be ready to accept and understand people’s opinions and how you can satisfy and solve their problems. If you solve people’s problem or provides to them what they really need, it won’t be tedious to make profits.
One of the smart and world-class entrepreneurs said: ”If you can provide value or solve people’s problems, then you have a business.”
These successful entrepreneurs have the habit of making mutual connections with their customers in order to be certain that they are truly solving people’s problems.
For YOU – As a smart entrepreneur, you should always focus on your customers and what they really need. If you have not been doing that, you should start DOING it now or forget about success.
3. Networking:
Chris Winfield who made his fortune from Writing and coaching other successful and newbie entrepreneurs said that” Not asking the right people in his business niche to help him was his greatest Startup Mistake
starting a new business, you must be able to follow your own interest which is very important because of your business’ future. I mean, you will be able to take full responsibility for whatever happens to your business in the future.
A great and smart entrepreneur, Mark Cuban said ”All Would-to-be Entrepreneurs should always do what do really love to do and what they are good at.” If you are following your interest, long-term success is guaranteed for you.
4. Start Simple:
Have you ever wondered why many entrepreneurs fail? I can’t say as well but most of them fail because they always try to do many things in a click!
This often happen to new or upcoming business owners who haven’t build their business solidly. If you are just starting a new business or you have a single unit of team working for you on a single niche or field, don’t think of “Multi-tasking” or else you will quit your business at the end of the day.
Tony Stubblebine of Coach.me and John Acuff of New York Times said: “Focus on the next step and don’t try to make your five-year vision happen tomorrow.” and “Hustle the right way. It’s not about doing more, it’s about doing what you need to do.”.
If you want to multi-task or implement more than a business strategies at a time, you then need to build strong team of workers who will be able to bring your dream and business ideas into REALITY.
5. Again, Solve People’s problems
People – I mean Consumers nowadays won’t patronize any service or product that can’t be a SOLUTION to their problems even, If you have the best product or service. Before you can say that your business idea is great and can solve people’s problems, such an idea should be great and helpful to at least 20 people who don’t know you and also, who you don’t know.
WHENEVER you are coming up with a business idea, think about the people especially your active customers and the people as a whole.
Lauren Holliday says, “The biggest mistake new entrepreneurs make is relying on a business idea that isn’t valuable to anyone with actual, real-world problems.” If you can figure out the main point here and you add this success habit to your business and lifestyle, you will be indeed successful.
6. Build Mutual Relationship With Your Customers:
Just like I have said above, your customers should be your first priority, not your product or service because you are creating these products and services for them.
Chiara McPhee said, “I’ve found it incredibly helpful to have a framework in place to systematically collect, prioritize, and implement product features based on customer feedback and effective relationship—both from customers you have, and the customers you want!”
Another world-class entrepreneur added, “They tend to dismiss negative feedback on their products or neglect collecting some. And they end up missing product/market fit… my advice is to talk to potential customers or users from day one and for every day after that. Never stop collecting feedback.”
7. Don’t Rush
Don’t ever think that rushing to let your idea or new product be known by people will make you to be rich or successful. if your business idea is not genuine then, you are going to be such a great LOSER! Before you release a product or service, think about what you fantasize about and what has captivated you about the product.
Ask yourself: “Is the product or service I want to launch helpful to me and will be helpful to others?” If you don’t know what you are doing and you are in haste to get your business known, then your business is going to be disastrous.
A world-class entrepreneur who is also a writer said, “The most painful mistake I see entrepreneurs make is launching before learning.
For example, you may decide you want to launch a marketing consulting company, so you hastily make a website, content and reach out to people, but you haven’t yet figured out who your target clients are. What do people actually need help with or what you’re specifically good at? So no one bites.”
8. Know when to Quit
They say, “Winners Never Quit”. It’s quite correct but, world-class and smart entrepreneurs do quit what they see or notice that it won’t move them near their dream and business idea. Don’t waste your time, energy, and money on what didn’t bring you profit.
BUT HOW?
You just need to be patient and figure out the right business you should invest in. William Harris of Elumynt advised that you should “Outsource tasks that stop you from doing what only you can do in your business.” and Navid Moazzez says you should, “Only do the one thing that will move the needle for you and your business.”
9. Don’t Lose Your Focus:
The best successful habit of these world-class entrepreneurs that I personally love about these famous entrepreneurs is that they never lose their focus and hope. If you want to be great in life, you must not let your right to wrong or your wrong be right.
You are not perfect and of course, you shouldn’t expect your business to be perfect also. It’s normal that the urge to quit believing in your dream will come into your mind or may try to trick you out of your path but Don’t loose your focus and determination.
Rhett Power advises entrepreneurs to, “Take time to think strategically about the big picture.” instead of thinking on how to quit, think on how to redeem your mistakes and failure to Success.
If you are just starting a new business, it’s part of the ‘Musts’ that you face some circumstances which may result in problems, risks, etc. But, if you know where you are going, those will never pin you down easily.
Remember that Great things in life worth sacrificing For!
