Are you an entrepreneur or a wantrepreneur? Successful entrepreneurs have developed habits to help them achieve success over and over again. The habits entrepreneurs have require patience, consistency and determination. These 13 astonishing habits of a successful entrepreneur will help prepare you to achieve the success you deserve.
13 Habits of a Successful Entrepreneur
1. They Have Hobbies
Learning new languages, starting an online business, taking online courses for entrepreneurs or pursuing activities to make money online. Successful entrepreneurs all have hobbies. They have interests that help them grow and keep them happy. Hobbies are a great way to find similar interests which can be helpful in networking situations.
Don't know which hobby to pursue?
- Check out Meetup.com. Sign up and attend classes and activities for fun to see if you have an interest in it.
- Ask around. What are the hobbies of the people in your circle? What are the hobbies of people you want to connect with? Try out those hobbies to find out if you have an interest in those areas.
- Want to mimic billionaires? According to Business Insider, billionaires' hobbies include: philanthropy, cultural events, fitness, travel, skiing, fashion, politics and more.
Many entrepreneurs turn their hobby into a business, so this might be the only thing holding you back.
2. Entrepreneurs Ignore the Haters
All entrepreneurs have experienced haters. Parents, friends and coworkers probably told them their idea was stupid or that they wouldn't succeed as an entrepreneur. But they just didn't listen. To be a successful entrepreneur, you need to get into the habit of trusting your intuition. Do what's best for you. Live life your own way.
Tips for ignoring haters:
- Parents telling you to quit entrepreneurship and get a real job? Move out. Crash at a friend's house. Spend all your time at a local library and pretend you're at work.
- Someone told you that you won't succeed? Tell them to write that down on a piece of paper. That way when you do succeed, you have proof that you owe them nothing.
- It's mostly in your head. The biggest hater is always going to be you. Become your own fan instead. Don't add a roadblock against yourself.
3. Entrepreneurs Know How to Stay Motivated
We all experience ruts, obstacles, and moments of failure. But do you know how to keep yourself motivated through the lows of your career? If so, you're demonstrating a positive habit many successful entrepreneurs have. If you start to lose motivation, it's not game over. You can still take action to boost your motivation.
Want to improve this entrepreneur habit?
- Write down 20 reasons why you started a business and look at it every time you lose motivation. Answer this question: why?
- Read a biography about someone who's overcome adversity.
- Start with one small step. What little task can you work on right now to help you achieve your big goal?
4. Entrepreneurs Manage Their Time Well
Entrepreneurs are obsessed with time management. Need to make better use of your time? Here are some tips:
- Use apps like Freedom to block social media sites and other distracting websites during your work day.
- Follow the 80-20 rule. What 20% of your tasks lead to 80% of your income? Focus on those 20% of tasks and reduce time spent on other tasks.
- Delegate tasks. What do you do better than anyone else? Stick to that and outsource the rest.
- Say no. There aren't enough hours in the day to execute on every idea that pops up in your head. Stick to the ideas that'll drive the most results. It's okay to say no to friends, family and your team sometimes.
5. Entrepreneurs Exercise
Arianna Huffington practices yoga. Richard Branson plays tennis, goes biking, runs and kite surfs. To stay in top form, top entrepreneurs exercise to help them live healthy and balanced lifestyles. Many successful entrepreneurs say they wake up early to exercise at the start of their day.
Want to make exercise part of your daily habits?
- Find the time that works best for you. Maybe you're more of an evening gym goer than a morning one. Pick a time that you can commit to every day.
- Can't go to the gym? Go on YouTube and find workouts at your fitness level that you can do in the comfort of your own home.
- Need that extra push? Create or update a really killer playlist that you listen to while exercising.
6. Entrepreneurs are Team Players
Entrepreneurs are leaders, it's true. But they're also team players. They know how to get the best out of their team. They're not afraid to share their workload. They don't obsess with their own accomplishments as they focus on the bigger picture.
Need to be a better team player?
- Delegate. You can't do every task on your own. It'd make you inefficient. Share your responsibilities with the team so that more of your team can grow. And so that you can focus on what matters. If you don't have a team, hire freelancers to help.
- If someone is trying to move their career in a certain direction, help them get there. If not, you risk losing them forever.
- Get everyone involved. Don't be the person who wants all the recognition. Roping in other team members can help you achieve a bigger goal.
7. They Find 'Me Time'
'Me time' isn't reserved for introverts. It's a time for you to reflect on your actions, your values, turn off your brain or spend time doing what you love. Me time could be the time you spend coming up with ideas in the shower. Or the time you spend on your morning run. It could be that moment in the day where you write in your journal or read a business book.
How do I get into the habit of making time for myself?
- Find the time that works for you. After the kids have gone to bed or before the family wakes up.
- Pursue an interest that excites you so much that you'll do whatever it takes to do it.
- Lunch breaks are a perfect time for your 'me time.' You're away from your family and you're legally permitted to duck out and take a break.
8. They're Healthy
You can't have a brilliant mind without a brilliant diet. That mac and cheese diet is going to do nothing for you over the long-term. Vegetables, protein, and healthy fats should be part of your balanced diet. And water.
Tips for living a healthy lifestyle:
- Your diet is important but it's not the only thing. You also need to balance out physical exercise like cardio and mental exercise like meditation. Try writing in a journal for mental clarity each day.
- Have one cheat day each week. One day where you eat anything you want. The rest of the week focuses on clean eating habits. It'll help you become more mindful of the foods you eat. However, it doesn't deprive you of your favorite foods.
- Avoid sugar. If you read ingredients you'll find that sugar is in almost everything. But it can result in a sugar crash. Take the time to read the ingredients for your food. Your food can help fuel your success.
- The most successful entrepreneurs actually do sleep. So be sure to get 7-9 hours every night so that you can have a productive day, every day.
9. They Wake Up Early
According to Business Insider, Richard Branson wakes up at 5:45 am, Indra Nooyi wakes up at 4:00 am, Tim Cook wakes up at 4:30 am, and Howard Schultz wakes up at 4:30 am. Most are in the office by 7 am. They all have productive morning routines.
Tips for getting into the habit of waking up early:
- Go to bed early. No, midnight is not early. Aim for 9 or 10 pm.
- On a piece of paper, write down why you need to wake up early. Don't put a logical reason like 'to do task A.' Write down a meaningful reason, your why, like 'to help more people solve problem A.' Place the paper on your nightstand. When your alarm goes off in the morning and you're tempted to press snooze, read the paper first.
- Don't put your phone near your bed. Put it on the other side of the room. That way, you can't check your messages or shut off your alarm by rolling over. You're going to need to get out of bed to shut your alarm off so make sure it's super annoying.
10. They Ask Questions
Curiosity may have killed the cat but it's the habit that made the entrepreneur a success. ‘I wonder what will happen if…' is the thought that results in experiencing new adventures and ideas. Innovation is born out of an entrepreneur's curiosity.
How to make curiosity a regular habit:
- Try new things. Trying new foods or experiences can often lead to epiphanies you wouldn't have come up with. You never know when something you decided to try inspires an idea. The more you try the more experiences you can pull from. You never know when something you try becomes the inspiration for your next marketing campaign.
- Read. A lot. Information is essential for your growth and success as an entrepreneur. But instead of reading your endless feed of social posts, stick to books or reputable blogs. And try reading about topics you genuinely know nothing about. It'll help you make connections you never realized were there before.
11. They Know Why They Started
What impact do you want to have in the world? Why do you want to start a business? Why do you want to make $1,000,000? What's your motivating force? Who is pushing you to greatness? Who do you want to be successful for? The bigger your why the harder you'll work to achieve it. Your why is what'll get you out of bed in the morning and what'll get you through adversity. Write it down, memorize it, spell it out backwards if you have to.
How to maximize your why:
- Set goals. Not New Years' Resolutions. But daily goals, weekly goals, monthly goals, quarterly goals. It's too easy to lose focus of your goals if you only do it once a year. Write those goals down. What do you want to achieve and what exact date do you want to achieve it? Check your progress on those goals each day.
- Be grateful. You have this big goal that you want to achieve. You're going to need to get some help from others to achieve it. Maybe they're the customers buying your product or the employees you hire to help you hit your targets. They're making your goal possible. Let them know how grateful you are to them. Handwrite them cards on their birthday thanking them for their help in achieving the 'why.' Send them emails telling them how much you love having them on your team. Let them know you're nothing without them because they're a huge part of your success.
12. They Minimize their Decisions
Mark Zuckerberg wears the same outfit every day. Why? To reduce the number of decisions he makes each day. Making decisions can be exhausting, even if we don't consciously feel it. The average adult makes about 35,000 decisions a day. Like the decision you made to read this article out of all the articles on our blog (thanks by the way!)
Tips for reducing your decisions:
- Delegate. Surround yourself with smarter people who can make decisions on your behalf. Your team can help make sound decisions so you can focus on making the right ones.
- Simply your decisions. Start with food. You make several decisions trying to decide what to eat each day. You can reduce these decisions by making the same meal for the same day of the week like Taco Bowl Tuesdays, Tuna Sandwich Thursdays.
- Don't make decisions when you don't have to. The average person takes sides, but the entrepreneur hangs out in the middle away from all the drama.
13. Entrepreneurs Take Action
Goodbye daydreams, hello real life. That idea of starting a business went from hanging out in your head to becoming an actual store. The goal you set for yourself two months ago has started seeing some solid results. If you want to win the game, you've gotta play it. Ideas mean nothing to an entrepreneur. It's all about execution.
Habits of Successful Entrepreneurs FAQ
What Are the Main Daily Habits of Successful Entrepreneurs?
Successful entrepreneurs commonly wake up early, exercise, manage their time efficiently, delegate tasks, and regularly practice "me time" for reflection.
How Do Successful Entrepreneurs Handle Decision-Making?
They minimize the number of decisions they make daily by simplifying things (like wearing the same clothes) and delegating tasks to their team, reserving their focus for critical choices.
What Is the Most Important Trait an Entrepreneur Needs To Succeed?
Taking action is arguably the most important trait. Successful entrepreneurs focus on execution and turning ideas into tangible results rather than just dwelling on concepts or daydreams.