The 10 most important habits of successful entrepreneurs

Here's how the top ten habits highly successful entrepreneurs have in common can catapult your career.

Habits form our lives and provide a framework to build professional success. We all want to be the most successful version of ourselves. Entrepreneurs are creators, forming something unique out of nothing, with a goal to provide happiness and satisfaction in people’s lives. Highly effective entrepreneurs have many good practices and habits that they implement every day. However, the most determined entrepreneurs succeed beyond their peers and colleagues because they commit to the simple things, embrace challenges and build a resilience to keep pushing ahead. Let’s look at the ten habits highly successful entrepreneurs have in common that could catapult your own career.

1.    They constantly learn new things

Entrepreneurs need to be creative and think beyond the boundaries that exist. To build success you must ask questions, have a curiosity to understand the unknown and be open to new knowledge. There is always more to learn in your niche and the ever-evolving market. Successful entrepreneurs recognise that they don’t know everything and are keen to expand their knowledge.

2.    They just are themselves

It is a natural response to try and fit in, but trying to be part of the crowd means many people end up chasing the wrong career. Devote your time and money into something you are passionate about. Success becomes easy when you love what you do and can simply be yourself. Mark Zuckerberg (co-founder of Facebook) wears the same t-shirt and jeans every day and stays true to who he is: allowing his talent and challenging work to define him and his enormous success.

> See also: British Growth Stars 2017 Report

3.    They build a company through building a team

You cannot possibly do absolutely everything in your business. The only way to gain extra time is to delegate tasks to other people. Aspiring entrepreneurs understand that growing a business requires the right people, and they work to build a team of experts as quickly as possible. They surround themselves with a dedicated team and keep the focus on what’s important.

4.    They devote enough time to the business

Successful entrepreneurs put in more hours by habit, however, in return they get far more done than others. They not only devote time to the business but utilise that time effectively to facilitate its growth. They focus on their strengths and channel their efforts to the areas they are best at, as well as dedicating time for training and learning to convert their weaknesses into strengths.

5.    They see failure as a lesson

There are many lessons you will learn in life and the most successful people learn from their failures. They don’t let failure stop them but keep changing, developing and growing. They anticipate it, plan for it and learn from it. They see those lessons not as a failure but as a failed attempt. Successful entrepreneurs learn from their mistakes and strive to do better.

6.    They face challenges head-on

Running a business requires taking risks and often facing fears. It can be incredibly overwhelming to face difficult challenges, particularly if the solution is unclear or complicated. A major character trait many successful entrepreneurs have is the ability to persevere through those challenging and tough times, with determination to achieve the best outcome. This involves getting the hard stuff done first to allow themselves then to focus with a clear mind on the issue in hand and reach a solution to move forward.

7.    They don’t set out to be rich

To build a profitable company is, of course, an important part of the adventure: however, many passionate entrepreneurs strive to build a company of significance. They aspire to create a company they can be proud of. They make money so they can make a difference; so they can create opportunities for others and explore new prospects. Successful entrepreneurs often spend company money like it’s their own money. However, they are not afraid of some extra help and seek small business loans to fund new projects or organise staff training which they appreciate will facilitate the growth of the company.

8.    They have a clearly defined vision

The most important element of entrepreneurship is having a clear vision of the reason why your business exists. You need to know what you want to achieve, where you want to be and what you wish the future to look like. Successful entrepreneurs share their vision and ambition with each employee. If the team is aware of the collective vision, this will empower each individual and lead to a greater motivation to achieve goals.

9.    They listen more than they talk

The most successful people are excellent listeners. They listen to their mentors, their team, their customers and even their competition. They gain feedback, pay attention to truly understand others, so when they do talk they are able to give thoughtful advice. As an aspiring entrepreneur, you’re often driven to do the talking however, by listening to others, you can learn so much more.

10.    They concentrate on customer needs

Entrepreneurs see a need and fill it with the best possible solution. However, to continue to provide what the customer needs, every business needs a reason for their customers to buy from them and not their competitors. Successful entrepreneurs concentrate on learning and better understanding their customers’ needs. With this knowledge, they aim to stand out from the crowd and exceed customer expectations.

Further reading around successful entrepreneurs

> Download: British Growth Stars 2017 Report

Praseeda Nair

Praseeda Nair

Praseeda was Editor for from 2016 to 2018.

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