6 min read
Opinions expressed by Contractor the contributors are theirs.
Not surprisingly, the United States has the highest entrepreneurship rates in the developed world: entrepreneurs represent 14% of the working-age American population. While many of these self-employed workers come from younger generations who are just getting their feet wet in the wild business world, many have been around for some time.
Related: 10 Success Habits That Will Significantly Improve Your Business
A trait that almost all of these entrepreneurs share is that they have developed specific habits that help them succeed. Over time, they test and experiment and determine what works best for them – habits you can also learn to improve your life.
1. Get up early.
It’s not a shock to recognize that adding more hours to your day allows you to accomplish more. Many entrepreneurs get into the habit of leaving the pillow behind them long before the rest of society presses the repeat button. Starbucks President Michelle Gaas, for example, wakes up at 4:30 a.m. to go running, as early risers face fewer distractions and take advantage of the opportunity to start their day on a positive note.
2. Keep good company.
Friends are great to have around, especially when they push you to become a better person and push you to new heights. Long-term entrepreneurs – including everyone from Seth Godin to James Altcher to Jayson Gaignard – make sure to partner with others who are successful, often in the form of groups and brain dinners.
3. Plan and develop strategies.
If you fail to plan, you plan to fail. Those looking to start businesses and build wealth always have a plan. They know what the goal is and where they are in regards to achieving it at all times. A plan serves as a roadmap, helping you understand the next steps. It also holds you accountable for your goals. If you know you’re aiming to reach $ 5 million in revenue next year, your plan tells you how you’re going to get there.
4. Always keep learning.
There is something new to learn every day, and there is a better tool to use introduced every year (heck, every week or month in some industries). Lifetime filmmakers realize this and are constantly looking for the next thing to propel them toward their goals. Don’t you think you have enough money or the right advanced degree? Hundreds of self-education options are available online.
5. See the opportunities, not the failure.
Like everyone else, successful entrepreneurs cannot always prevent bad things from happening, but they can choose their reactions. So be like them and don’t waste time complaining about yourself: use the time instead to learn new lessons and overcome obstacles. The co-founders of KISSMetrics, for example, spent $ 1 million on a product they never launched. The CEO of Moz admits having lost years on projects with low visibility or ROI. These things didn’t sink their businesses; they just allowed the founders to learn and progress, with improved focus and vision.
Related: $ 7 Million Habits of Super Success
6. Never stop coming up with ideas
LikendisLikes are idea machines. Not all ideas are profitable, but real business people believe that the more ideas they can generate, the better their chances of getting a good one. No matter how many projects they have completed, lifetime entrepreneurs continue to dream and think about the next. Thomas Edison is credited with over 1,000 US patents, Ted Turner is involved in a variety of businesses ranging from television stations to restaurants and today, Magic Johnson Enterprises is worth more than $ 700 million.
7. Make things happen instead of making excuses.
Apologies are not productive. So why spend time on it? Lifelong filmmakers advance in front of opponents and apology makers and walk straight towards their goals. Even CEOs are doubtful, but they overcome it and move on anyway. If Oprah Winfrey can find the time and confidence to run a marathon, you certainly have no excuse for why you can’t reach your goals.
There are countless stories of entrepreneurs who have failed miserably, including many failures repeatedly. But they continued – and thank God they did. Think of all the inventions and products we would not have if entrepreneurs gave up the first time that something did not work. Arianna Huffington faced serious criticism when she started The Huffington Post, but she didn’t stop. Steve Jobs was ousted from Apple, before returning several years later to save the company. When Christina Wallace’s Quincy Apparel business closed, she spent three weeks in bed. But the deciding factor for all of these entrepreneurs was the same – they never gave up.
9. Have a passion for your work.
Successful people are passionate about what they do. LikendisLikes know they make a difference in the life around them and ultimately in the world they live in. They don’t just show up for a paycheck; they live for the next breakthrough and the smiles on the faces of their customers. Passionate entrepreneurs are more motivated, have more social capital and over time sell more, earn more and build a stronger clientele.
10. Run a marathon, not a sprint.
LikendisLikeship can be quite difficult, mentally and financially. Those who choose this life realize that a single day does not seem to make a difference, but a lifetime of these days can lead to massive success. Lifetime entrepreneurs take periods of time to relax and recharge, and then return to work, more determined than ever.
11. Face difficult choices.
There are few black and white choices for entrepreneurs these days. Everything is set in a gray scale and little is clear. However, despite this obstacle, hard-core entrepreneurs do not shy away from difficult choices. They understand that tough choices are inevitable to be a pioneer in business, so they make those calls and move on. Business leaders face challenges ranging from recruiting the best talent to managing legal regulations, but they never back down.
What other habits do you have in place that help you as an entrepreneur? Share your favorites in the comments below.
Related: 7 Incredibly Productive Habits of Successful Young LikendisLikes