Posted on Aug 16, 2017

5 Habits of a Successful Entrepreneur

Being an entrepreneur isn’t for the faint of heart. There are many times when you will fail, and fail hard. But, being an entrepreneur also offers moments of unmeasurable elation and satisfaction. The goal of a successful entrepreneur isn’t just about monetary gains, it is about having a passion and always aspiring for a positive slope.

joy of entrprepeneurship

Image: Scott Belsky

Entrepreneur.com created an infographic to highlight a few habits for some of the most highly successful people today. For Elon Musk, it is hashing his entire day schedule in 5 minute blocks. Mark Zuckerberg wears the same t-shirt and jeans every day. Many others put reading, or exercise at the top of their list. But, some of these are oddities or even advice we heard in grade school. So, what are some of the best-practiced habits of a successful entrepreneur that don’t involve calendar micro-managing and your wardrobe?  

Here are 5 habits that could help launch you into the best position for entrepreneurial success.

 

Habit #1: Always see innovation at the edge of reason

Rational thinking often keeps us from moving forward. Even knowing this, many entrepreneurs make the mistake of hiring people or investing in ideas that are completely rational. The greatest entrepreneurial success comes when you start to consider old problems in new, even irrational light. Take Airbnb for example. This is a company that is disrupting an entire industry with a strategy that is 100% irrational. Smart entrepreneurs can learn from companies like Airbnb, Uber, and Snapchat who have recognized that disruption is inevitable and instead of running the other way, adopt irrationality as an active business strategy.

 

Habit #2: Create teams with polarizing personalities

Adding on to our newfound irrational thought process is the idea of team building. Successful entrepreneurs understand the importance of building a diverse team. A study by NPR shows that a diverse workplace ultimately creates better results. If you avoid hiring people with polarizing personalities, you avoid bold outcomes. The idea here is to never compromise on ethics or integrity, but don’t aspire for a team of peacemakers. Bringing together a group of incredibly different incredible individuals will increase the odds that your team sees things you don’t.  

 

Habit #3: Never feed the greedy

Greedy people are toxic and you in no way, shape, or form want to work with people that are always angling for more at the expense of others. These kinds of people are never satisfied. As an entrepreneur, you should respect employees and investors who will negotiate to get what they deserve, but there is a huge difference in a negotiation for fair share vs. negotiation for an endless share. These endless share types are poisonous not only to your business but your entrepreneurial spirit.

 

Habit #4: Embrace the ruckus

Any entrepreneur gearing up for success needs to brace themselves for a fundamental amount of chaos and ruckus as part of the process. Mistakes will be made, people will get fired, you will lose money, and there will be frustrations and failures along the way. Don’t shy away and avoid the chaos, embrace it. See it as something you must face and conquer. Every run-in you have with chaos is one step further along the path to achieving your entrepreneurial dreams.

 

Habit #5: See failures as part of the path to success

As an entrepreneur, it is pertinent that you do not see mistakes as shackles that halt you from moving forward. Mistakes are meant to guide you. As an entrepreneur, you are defined by what you chose to struggle for. Each struggle is meant to be a learning experience to help you better grow your business. Don’t dwell on the past and get yourself, your team, and your business stuck in a rut. Cut your losses and move on by quickly applying the lessons you learned and making the necessary adjustments to propel your ideas forward.

decisions

Image: Pixabay

Remember that change is constant and change is fun. Having this mindset and positive attitude will put you leaps and bounds ahead of other entrepreneurs looking to start a new venture. If you wanted a predictable path you would not have started your own business or be researching habits of successful entrepreneurs in the first place. Be open to what your journey unfolds and remember to always aspire for a positive slope!

Interested in reading more about habits that could put you on the path the entrepreneurial success? Check out “21 Habits of Successful Entrepreneurs that Everyone Should Learn”.

What are some other habits of successful entrepreneurs? Let us know by leaving a comment below.

 

Feature Image: Pixabay

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