10 Habits of Successful Business Leaders and Entrepreneurs
Entrepreneurs are highly exalted in our society. That does not come as a surprise as we often see mainstays like Elon Musk, Jeff Bezos, and Richard Branson raking in billions within just a few months. Their companies are responsible for solving most of the world’s problems: eCommerce, green energy, and possibly space flight.
However, behind the glamour surrounding these famous businessmen is the untold story of their journey to the top. As the saying goes, everybody wants to have a piece of success but does not want to put in the effort needed to attain it — or at least that’s how we remember it.
With that said, if you’re planning to become an entrepreneur, it is imperative that you develop certain habits that help you become an effective leader, decision-maker, and eventually, a mentor. Here are some of our favorites:
Fall in love with reading
Famous business people who have taken the world by storm did not get to their current positions without reading. Bill Gates strives to read a book or two each week despite being one of the busiest people on the planet. Elon Musk is a genius inventor, but that did not stop him from allowing a few minutes each day to read up on new tech and studying.
Manages Their Sleep
If you think that running a business is a reason to embrace a sleep-deprived lifestyle, then you’re mistaken. Even the busiest CEOs manage their sleep. Except for some CEOs who are known workaholics, most business people seek to have a regular sleeping pattern, which helps in sticking to developing their other habits and at the same time promoting a healthier lifestyle.
Following a “strict” sleeping regimen is reflected in their habit of regular exercise. Exercise is scientifically proven to improve overall health, boost your mood, and make your mind sharper. Exercise helps in clearing your mind and improving your focus too!
Has Great Money Management Skills
Call it intuition, but most, if not all, successful entrepreneurs have a way with money. This is probably due to their repeated experiences with running a business, but they have somehow developed a keen sense of when to double down on their investments and when to cut their losses. In addition, they have seen most market cycles, which helped them form a sharp instinct on how to spend their money.
Manages Time Well
This may not make sense initially, but a great business person will eventually know how to manage and leverage their time. Of course, at first, you want to do everything yourself; that’s inevitable considering the limited resources you may have while starting. But as time passes, you’ll realize how important managing your time is to the success of your business. In addition, working toward properly managed time will prompt you to explore ideas such as delegation so that you can have more time on your hands for the more important things.
Sets Clear, Attainable Goals
The difference between a goal and a dream is that dreams are vague while goals are precise. It’s easier to attain something if you know what you’re trying to achieve. Saying that you want to be a successful businessman is vague but declaring that you want to be the founder of a one billion dollar tech-startup in X amount of years, as bold as it sounds, is a goal that you can certainly work hard to achieve.
Knows How To Prioritize
Business people are truly busy. They’re not like average employees where they “think” they’re buried just because they ticked off a lot of items on their daily to-do lists. Successful business people know which item to prioritize among the 20 others on their list so that the other 19 will follow smoothly. They know how to focus their efforts on that “one thing” that will make everything else fall into place.
Networking Is Second Nature
Everyone we meet can eventually help us, one way or another, in our journey. Of course, no one understands this better than a business person, so networking is always a part of everything they do. The difference is that they know how to capitalize their network to the point that everyone they meet somehow has a purpose.
Knows How To Replicate Success
Success may somehow be an elusive thing to capture, but those businessmen who have had the taste of it somehow find it easier to replicate and reproduce. They have, after all, gone through multiple failures. As a result, they have a clear picture of which steps to avoid and which ones to take to bring their business to the level they want.
Does Not Avoid Failure
Business people are, at their core, problem-solvers. They are not in it just to make money (although how to make money is a problem to solve, also). They know that money will follow and how much they’ll earn depends on the immensity and importance of the problem they’re trying to solve. For example, Elon Musk was ridiculed for attempting to disrupt the automobile industry by introducing electric cars. He was labeled many things, and even his most devoted supporters started to show doubts that he could deliver, but look at where Tesla is now. Despite his year of failure, his company now towers over all automobile companies globally —combined.
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