3 Habits Of Great Entrepreneurs

Aristotle once said: “We are what we repeatedly do. Excellence, then, is not an act, but a habit.”

Your habits build an essential part of your identity, no matter your occupation. Whether you’re in finance, medicine, sports, business, or otherwise, your success depends greatly on the lifestyle and habits that you are able to develop over the years.

Entrepreneurs

The world’s most successful business leaders–Warren Buffett, Jeff Bezos, Peter Loftin, Steve Jobs–are all creatures of habit. They get out of bed, follow a routine (with some variations in between, of course), and repeat this routine everyday. These people are where they are not because of some fortuitous stroke of luck but as a result of great habits developed, maintained, and applied over time.

Here are some of the most common habits shared by successful entrepreneurs:

  1. Staying Efficient

Entrepreneurs, especially those working startups, are often forced to wear multiple hats. Many times, you may find yourself the de facto accountant, sales manager, marketing staff, engineer, etc. While this can be overwhelming, it certainly isn’t impossible.

The best entrepreneurs are able to manage their time and stay efficient on top of multiple tasks. They develop processes and systems that allow them to get the same amount of work done but with less hiccups and greater efficiency.

If your feel there’s too much on your plate, look for ways to streamline your processes and iron out inefficiencies. Moreover, instead of viewing your situation as a problem, take it as a challenge. Take it upon yourself to find solutions and get the most out of every task.

  1. Staying Focused On Customers

Customers (and clients) are the lifeblood of every business. It’s quite simple actually: ignore your customers and the company dies; take care of them and the company thrives.

Successful entrepreneurs like Peter Loftin, mentioned earlier, have developed a reputation for excellent customer service and customer care. They understand that customers are individuals with needs and emotions who need to be served accordingly.

Before the fancy metrics and complex analyses, think of your customer: What are their needs? How can I improve my service? What should I do to keep them.

Also, don’t fall into the same trap most companies do. Focus your energies on CUSTOMER RETENTION instead of customer acquisition. The latter costs up to ten times more and yields lower ROI than the former. Take care of your existing customers and they’ll take care of you.

  1. Keeping A Journal

According to Dr. Gail Matthews, people who write down their goals are 42% more likely to achieve them.

Keep track of your goals and important information using a journal. If a new goal, a creative idea or a solution to a problem comes to mind, write it down immediately. The simple task of writing things down is extremely powerful. Use it to your advantage.

Being a successful entrepreneur is more than just coming up with “the next big thing” or lumping together a bunch of investors. Rather, it is a result of good habits applied consistently over a long period of time. It might not sound glamorous, but it sure is effective.

Start simple and develop good habits today!