5 Habits of Successful Entrepreneurs
Updated: Mar 10
Before I dig in, I just want to let you know something that successful entrepreneurs have in common - they all have habits.
Habits are actions that are done consistently. Now, I know that “habits” sometimes get a bad rap on social media, but really they are only things that we do in a committed way.
Consistency looks different for different people. And no matter what it looks like for you, the only solid requirement is that you are being intentional. No flying by the seat of your pants, here, friend. You can not grow or scale your business without having habits!
So, what are you doing consistently over time?
Start by identifying the things you do - or can do, or should do - that lead to success. What are the business activities that work for you?
And this then becomes our first habit: assign metrics to those activities. How often do you need to do them? When? How much? To what scale? Who knows - you’re probably already sitting on successful habits for you! As you may already know, I’m all about “(using) what you already have”. And by assigning metrics, you are also “being intentional” about it - another one of my core beliefs.
Another important habit you may want to start doing, if you’re not doing it already, is documenting your data. To paraphrase Peter Drucker’s quote, if you can’t measure it, you can’t improve it! Successful entrepreneurs have a healthy habit of looking at their data so that they can use it to make wise decisions, as opposed to emotionally-driven ones.
Some data you might want to know:
Conversion: how many sales calls do you need to make to get a client? And how many of those calls convert to high-level clients for you?
Overhead: What is it costing you to stay open?
Time: How much are you spending on marketing? On social media? On sales? On networking? On delivering your product? On customer follow-up?
Yet another habit successful entrepreneurs have is to act quickly. Now, that doesn’t mean to act rashly or carelessly. What it does mean is to get your ideas and thoughts out there, get feedback from others, and then discern which ones to move forward with. Sitting on new ideas can be really harmful to the entrepreneur! Have a process, but don’t be too slow to take action. Give yourself a deadline to do “whatever.” And let it be known on social media, or with your mailing list. It doesn’t have to be polished and ready to go when you tell them - but by setting a completion date, you build accountability and start inviting feedback at the start! Urgency can work in your favor.
This next habit is my second-favorite habit. Successful entrepreneurs have a habit of networking. Meeting others enables you to become a resource and will grow into success for your own business, too. Being considered a resource for others brings personal satisfaction and is a great place to operate out of. A networking habit might look like attending a weekly meeting, committing to “meet 10 new faces this week,” or “introduce 5 new people to one another.” This also gives people a peek into your character - networking is so powerful!
Finally, the last habit I want you to develop is - you guessed it - getting rest. Resting gives you clarity and allows you to look in from the outside of your business. It gives you time to pursue other, non-business-related, things that fill you up. And renews your energy so that you have something new and better to give when you do get back to work. It minimizes the chance you have of getting burned out. (Listen to the interview I did with Erin Taylor of “Strong, Not Sorry” for some great information and inspiration on this topic.)
And please do make a habit of resting every week - for your health, and the health of your business. ‘Cause we know “good rest fuels great work!”
If we haven’t met already, find me on Instagram @coachaliciabyers