8 Habits of Successful Entrepreneurs

Hello Everyone,

I will be sharing with you 8 habits of successful entrepreneurs. Someone once said that "A bad habit is like a soft chair, easy to get into but difficult to get out of". As you read this post I want you to turn this habits to "bad habits" as it will become part of your journey to success.

Habit #1: Always Be Learning

Knowledge is the most valuable asset of an entrepreneur. As an entrepreneur, if you have an in-depth understanding of what you are doing then you stand a higher chance of winning in business. One major way to make sure you are one step ahead is to engage in continuous learning.

To be a successful entrepreneur you have to be a student of technology, human nature and business. the pace of change in technology today is very high. As an entrepreneur, if your business is touched by technology you must stay up-to-date with the latest trends. Humans change slowly, but the nature of humans is quite complex and deep. You must continuously learn about the 'How and Why' people do things. This can help you structure your business to meet up their needs.

Learning from the classroom is not the only way to learn. successful entrepreneurs keep themselves updated by reading about relevant things- books,journals,magazines,articles. They are always trying out new tools from which they can learn a new way of approaching a task. They keep themselves updated by following market information, attending seminars and seeking expert advice.

Successful entrepreneurs never have a know it all attitude. They are always learning

Habit #2: Not Letting Lack of Money Stop You

There is a popular saying "You have to spend money to make money". while this is true in its own rights we can say that what it doesn't include is the fact that you need access to money in other to make money. This includes money that belongs to other people.

While we don't encourage being in debts, we are referring to your ability to borrow money that gives you leverage. Borrowing money to invest in a business will increase your buying power and give you leverage. If you needed 1 Million to start a business and you had just 500,000 thousand you might not be able to carry out the business as you would require. By getting investors or lenders, you increase the power of your 500,000.

The thing here is that you don't need money to be successful as an entrepreneur. what you need is the ability to get and use money wisely.

Habit #3: Focus On Mission, Not Just Money

As an entrepreneur, we can easily get distracted by the need to make money off our business venture. while this is important it is not the key to being successful in business. Successful entrepreneurs do not just make decisions based on the financial aspect of a business. Focusing on just the financial aspect of a business will not give you long-term success.

Successful entrepreneurs are on a MISSION and they have a Vision in which money plays a role.  Bill Gates is the founder of Microsoft and He was one of the wealthiest men on earth. He did not set out to be the wealthiest man on earth -  He had a vision and he's vision was that one day we would have a computer on every desk and in every home. The vision he had many years ago has been achieved and that vision has translated to billions of dollars in profit every year.

As a budding entrepreneur WHAT IS YOUR MISSION? the answer you give to this question will be the foundation of your business and this will generate sales and profit for you in the long-run.

Habit #4: Don’t Just Be Busy, Be In Business

It is easy to confuse being busy with being in business. there is a moajor difference between business and busy-ness. It is easy to get carried away with everyday tasks that will not improve your bottom line or business in the long-run. The secret here is to spend time on tasks that will provide the best return on your time and effort.

When you are working the register, handling service calls, or making sur everywhere is neat and tidy, you are doing work that needs to be done. But you are working in your business and not on your business. When you are examining the bills for ways to cut costs or refining your strategy for developing new products, you are making your business better, not

just being busy. Don’t be busy. Be in business.

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Watch out for Habits 5-8!