5 Habits of Successful Entrepreneurs

Title: 5 Habits of successful people; blog image: succulent and desk items.

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Habits are behaviours we do daily, without much thought to it. As human beings, we all have habits, and they can be either healthy or unhealthy. The difference between successful entrepreneurs and everyone else is that successful entrepreneurs intentionally develop success habits that contribute to achieving their goals. 

So, the question now is – how can you develop success habits too?

Understanding what habits are, how they are developed, and which habits you should be focusing on are crucial aspects of developing successful habits to achieve your goals.

This post will explore the psychology behind habits and share five key habits of successful entrepreneurs.

What Are Habits?

According to Mr. Google Dictionary, a habit is “a settled or regular tendency or practice, especially one that is hard to give up.” Similarly, the Merriam-Webster defines habit as “…an acquired mode of behaviour that has become nearly or completely involuntary.”

There’s an extensive body of Psychological research around behaviours and habits, but essentially, a habit is a behaviour that, when performed consistently and repeatedly over time, becomes an automatic behaviour. 

How to Create New Habits?

Now that we understand what habits are, how do we create a new habit?

Over time there have been a few different theories about this – some undoubtedly worth checking, others have become myths. For instance, there’s a belief that you can create a new habit in 21 days of consistently doing a specific behaviour, but anyone who has started a new workout routine for 3-4 weeks knows that it doesn’t always stick, does it?

In truth, research has shown that a new habit can take between 18 and 254 days to form, with an average of 66 days for a behaviour to become fully assimilated into someone’s routine to a point that it becomes automatic (a.k.a. a habit).

Besides, time is not the only factor in creating new habits. Creating new habits is a process and one that requires not only time and effort but also intention.

Successful entrepreneurs don’t just perform behaviours; they consistently integrate success behaviours into their daily lives over a long period of time and do so with intention. They have a goal in mind and a clear path to get there through smaller action-based items (a.k.a behaviours). These behaviours become practice and eventually turn into habits that lead to success.

Success habits workbook - establish success habits for life and business by www.erichesclub.com

Success Habits Workbook

Establish success habits with this workbook, for a better life and successful business.

Success Habits of Entrepreneurs

With all of this in mind, the following five habits will be essential to both gaining success and maintaining it.

Success Habit #1: Settings Goals

Identifying your end goal and creating a plan to achieve it is another essential habit of successful entrepreneurs. 

Having goals makes the path to success clearer. Think about it as a target – without a target, you won’t know where to aim or if you even hit the target at all.

Successful entrepreneurs know exactly what success looks like to them by setting clear goals and creating a plan to achieve them.

Take Action: This week, decide on one clear and specific goal. Write it down and then create a plan to achieve it.

Success Habit #2: Prioritizing

Successful entrepreneurs plan, but most importantly, they prioritize. They decide what tasks are essential each day and act on those first. Knowing which tasks to focus on first will help you achieve your goal.

Part of prioritizing involves understanding when to delegate. Delegating inessential tasks ensures that things get done without detracting from your ultimate goal.

Take Action: This week, jot down all the tasks that need to be completed to achieve your goal. Then, highlight the priority tasks and underline the secondary tasks that can be delegated. 

Success Habit #3: Having a Positive Mindset

Having a positive mindset doesn’t always come easy to many people, but it can be learned, which is excellent news. 

Learning to have a positive mindset requires that you change your thinking patterns – programming your mind, if you will, into new, more adaptive ways of thinking. 

There are few ways to create a positive mindset, among them, positive affirmations, visualization, or coaching.

However, perhaps the most crucial element of achieving success is belief. If you don’t believe you can achieve your goals, integrating success habits into your life will become that much harder, and consequently, achieving your goals will seem almost impossible.

Successful people and entrepreneurs understand the power of a positive mindset, and they work hard at it every day.

Take Action: This week, focus on one of your strengths and immerse yourself in the positive impact that this one strength of yours has on your path to achieving your goal.

Success Habit #4: Healthy Body-Mind Routines

Healthy body-mind routines, such as exercise, a healthy diet and adequate sleep routines, are crucial elements of success. This whole mind-body balance may sound a little cliché, but science backs it up.

Psychology explains that the mind and body are not divided, and in fact, have a strong and balanced connection – when one is not well, the other suffers and vice-versa. (This article summarizes that connection quite well, if you’d like some light reading on this)

By taking care of your body, you prevent poor health from causing obstacles on your path to achieving your goal, and in turn, create negative thoughts and low self-confidence.

Think about it for a second: When your diet and sleeping routines are completely out of whack, how do you feel mentally? Are you motivated in your journey to your goals? Are you able to focus?

When your body is not well, your ability to focus on your work and goals is disrupted. Not being able to focus and be productive consequently affects your confidence levels in completing your work and accomplishing your goals.

It’s a vicious cycle that will have you spinning. Successful entrepreneurs understand this and do not underestimate the need for healthy sleep, healthy eating, and exercise routines.

Take Action: This week, commit to having a better and more consistent sleeping routine. Then, evaluate how it has made you feel in your journey to achieve your goal. 

Related Post: Boost Your Confidence: Simple Exercise

Success Habit #5: Life-long Learning

Whether it is taking a course, reading or listening to audiobooks, successful entrepreneurs understand that knowledge is power and a crucial aspect of achieving their goals. 

Successful people stay up-to-date on relevant industry information, new trends and innovations. Learning is built into their daily routine.

Take action: Moving forward, make learning part of your daily and weekly routine. Read a book relevant to your current goal or take an online course that takes your knowledge and skills a level deeper.

Wrapping up Success Habits

Successful entrepreneurs understand the powerful impact these five success habits can have in their lives and business.

By integrating these success habits into your daily life, you will not only achieve your goals, but you will also create a stronger, healthier and more successful version of yourself.

Additional Resources on Success Habits

If you’d like to really dive into success habits, the following books are great resources to use:

  • Success Habits Workbook by E-riches Club – a workbook to help you identify and establish success habits for a better life and successful business.
  • Success Habits of Super Achievers by Kyle Wilson, Les Brown et al.  – a collection of interviews with over 80 thought leaders, entrepreneurs and great minds alike. 
  • Success Habits by Napoleon Hill – an exploration of Hill’s principles of success and key habits that lead to a prosperous and successful life.
  • Millionaire Success Habits by Dean Graziosi – “Would you rather drive a Ferrari off a cliff at 200 miles per hour or drive a Prius to the promised land?” is a quote that resonated with me in this book.

What success habit did you implement this week?

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