7 Must-Have Habits For The Successful Entrepreneur
It takes a special type of person to be an entrepreneur. Successful entrepreneurs are driven, self motivated individuals who can repeatedly fail over and over and not lose any enthusiasm to try again.
Success is stumbling from failure to failure with no loss of enthusiasm.” — Winston Churchill.
Instead, they come back stronger and learn from their mistakes. That’s just one of the many traits an entrepreneur must possess.
While there is no exact blueprint, successful entrepreneurs seem to share a similar set of skills. And surprise – it’s not about putting in 16 hour workdays.
Here are 7 simple habits every entrepreneur needs to possess in order to be successful.
Build Up A Good Sweat In The Morning
The surest way to get your morning off to a good start is to get in some exercise. You can invest in a gym membership or go out daily for a morning jog. Physical activity is great not only for your body but your brain. Getting in a productive workout will set the tone for the rest of your day and lead to increased work productivity.
You don’t need to be an early bird to get this exercise in. A quick workout before you start the day or when you need a break from work can do wonders for your energy level.
Expand Your Network
Networking is crucial for entrepreneurs. It can help you build long term partnerships, set up mutually beneficial collaborations and gain new key introductions. Successful entrepreneurs aren’t afraid to take a day off to attend a conference.
But networking also has other benefits. You can make friends with like minded individuals who understand your lifestyle. You can share ideas, get suggestions, and gain inspiration and encouragement.
Take Frequent Breaks
Sure there are plenty of workaholic entrepreneurs, but one of the habits of successful entrepreneurs is their ability to take a step back.
Some like to wear their 60+ hour a week schedule like a badge of honor, but what if it leads to a burnout and increased stress?
So before stress and fatigue begin to kick in, step back and take a short 15 minute break. That’s all your brain needs to calm down and re-focus.
Only you know how many breaks to take and how often, but one 15 minute break every hour or two should be enough.
Read A Lot Of Books
Successful entrepreneurs are never content with the amount of knowledge they possess. The world and the marketplace is always changing so business owners need to always be continually learning.
Here are the reading habits of 4 super successful entrepreneurs:
- Entrepreneur David Rubenstein reads six books per week.
- Bill Gates reads 50 books every single year.
- Elon Musk credits these 12 books for inspiring and directly influencing him.
- Warren Buffet credits reading books as the key to his success.
Partake In Some Hobbies
The entrepreneur life isn’t all about being stuck in the office for days on end. Some of our best thinking happens when we’re not trying to think at all. In order to get the mind to run efficiently enough to allow ideas to flourish, we need to let it unwind a bit.
Here are some of the hobbies of 3 wealthy entrepreneurs:
- Jeff Bezos is currently funding the construction of the 10,000-year clock in the state of New Mexico.
- Elon Musk bought a Lotus Espirit submarine car that James Bond used in the movie The Spy Who Loved Me.
- Warren Buffet plays the ukulele and has had duets with Paul Anka and Jon Bon Jovi.
Learn Something New Every Day
Success isn’t just going to happen on its own. It requires not just working hard, but working smart. Entrepreneurs are smart not because they were born that way, but because learning new things is fun.
When Elon Musk has a degree in physics and economics, but what does he know about flying rockets into outer space? Well, a lot apparently because “he reads books“.
Bill Gates attributes his success to his desire of always wanting to learn. In fact, he read the whole set of World Book encyclopedias when he was a kid.
Give Back To Your Community
There is another common trait people who are successful have – they often give back to their communities. For instance:
- Marc Benioff, founder and CEO of SalesForce created the 1/1/1 Model for businesses of any size to incorporate philanthropy into their business models.
- The Bill and Melinda Gates Foundation does, among other things, help the world’s poorest people lift themselves out of hunger and poverty.
- Mark Zuckerberg and Priscilla Chan founded the Chan Zuckerberg Initiative, which seeks to create a better future for the next generation.
- The co-founders of Airbnb, Nathan Blecharczyk, Brian Chesky and Joe Gebbia, have pledged to give away half of their fortune to charities.
- Steve Jobs quietly donated $50 million to California hospitals to help fund HIV and AIDS research.