10 Habits & Lessons From Most Successful Entrepreneurs

Although success may mean anything, everybody who made it took specific steps to get there. Most successful entrepreneurs used similar principles to win. Once you apply these principles to your life, you could succeed too.

#1 Think 10X Bigger

People like to look at success as a destination. They know it takes work. But they’ve never been there before. How much work do you exactly need?

The key is to prepare for the unexpected. Will it take three months to complete that project? Make the deadline longer and start sooner. Entrepreneurs refer to this as “buffers.” 

 The minimum is 50% more; the ideal is 10X. Do more than what you thought was reasonable.

#2 Assume Control Of Everything

There’s no map, no step-by-step list. To top it all off, unexpected events could delay your projects. It could look like it was outside of your control.

habits of successful entrepreneursSource: Shutterstock
 

Regardless of the fault, entrepreneurs take responsibility.

 “How can I prevent this from happening again?”

#3 Systems Over Perfection

People look at the successful entrepreneur as a consistent, hard worker who does everything right. How can they be so disciplined and self-aware?

Successful entrepreneurs use tools to hold themselves accountable. You may have heard of to-do lists, action calendars, quarterly goals, and checklists.

 Anybody can win once. Consistency is the real challenge. Systems bring clarity and save you energy from decisions, so you only focus on taking action.

#4 Think Long Term

It’s too easy to get carried away with daily tasks. You may be thinking of how to make the next deal, complete the new project, or make the next dollar. 

Not surprisingly, many people spend years “hustling” but never really moving anywhere. How do you know you are making progress? You plan all your tasks according to your long term goals, your mission.

habits of successful entrepreneursSource: Shutterstock

For example, a short-term thinker may say that profits matter. But a long-term thinker would have more perspective. It’s the hours you put, your level of focus, the people you meet, the skills you improve, the people you hire. All of them requires perseverance, take time and affect the final result.

#5 Obsess About Customers, Not Competitors

When you start as a small business, it’s hard not to look at the giants you’re competing with. You wonder how you could beat them, or at least how to catch up.

That’s now how Jeff Bezos made it with Amazon. Instead, he values customer obsession above the competition. “It doesn’t matter how far you are ahead of your competitors. You’re always behind your customers.” 

Imagine owning the leading company in your industry. If you beat everyone, how would you keep growing? This philosophy ensures that market leaders keep being first. 

#6 Smart Work Over Hard Work

We can describe business success with one word: leverage. No matter what you sell, all entrepreneurs use three sources to grow: time, money, and skills. 

Success is about unleashing these three sources, so you can create unlimited wealth as fast as you want. You can always earn more and improve skills, but how do you make more time?

Work SmartSource: Shutterstock

The successful leverage. If someone else can do it, they either delegate or automate. As their company grows, they hire the right team players for every business discipline.

#7 Optimize And Innovate At The Right Time

There’s so much potential in today’s marketing technologies. However, these tools could be stopping entrepreneurs from succeeding. 

Some marketers never commit long enough to make a system efficient. They always change their strategy, getting nowhere.

Inversely, others stick to a system without ever reinventing themselves. It’s only a matter of time competitors beat them. 

Don’t innovate until your existing system has reached the highest efficiency. 

#8 Be Focused And Present

We all have the same 24 hours. How do these successful entrepreneurs make the most of their time? Focus can multiply the results you get in those hours.

When successful entrepreneurs get to work, they remove distractions and optimize their environment. When there are no distractions, focus becomes the default mode, allowing them to work over eight hours at peak performance.

#9 Daily Tracking

We forget about our goals if we don’t measure frequently. Every morning, entrepreneurs assess where they are and where they want to go. 

 The more you read them, the easier it’s to be self-aware. “Am I closer than I was yesterday?”

#10 Plan Minute By Minute

 Entrepreneurs have energy because they don’t waste it making decisions. They plan tasks in advance to make it effortless.

This habit also brings them confidence, knowing their success is the result of daily actions. They break yearly goals into quarterly, monthly, daily objectives.

Imagine if you were just ten steps away from becoming the next success story. Won’t you be motivated enough to get up, work smart, and stay focused until you achieve your goals?

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