5 Key Habits of Successful Entrepreneurs

Entrepreneurial success stories are built on the pillar of effectiveness. Because effectiveness is what translates efforts into results.

For an entrepreneur, being effective is crucial because it eliminates effort wastage – you can get more done in less time. This also prevents setbacks. And to achieve that, one needs to create effective habits and stick to them.

I have listed out 5 key habits of effective entrepreneurs that inspire me to do better.

1. They focus their strength on high-impact decisions

Time is a precious commodity. And smart entrepreneurs know that.

You will find a lot of routine in their personal life. You can see them eating the same breakfast or wearing the same color t-shirt (Mark Zuckerberg has the same dress code for all days). This is because they minimize their decision making efforts for less significant aspects of life.

For women entrepreneurs, making such work wear decisions can be more tricky. However, various women entrepreneurs have managed to define a uniform style to keep their morning schedules more productive. Some of them dress to match their brands. In an interview with Huffington Post, Kegan Schouwenburg (CEO and Co-founder of Sols) revealed that her work wear is a reflection of her industry.

By keeping fixed routines and styles, these entrepreneurs are able to focus their energy on high-impact decisions which helps them weave impactful stories.

But what about small businesses, where these decisions take a different shape because of the introduction of new challenges like working with a small budget or managing huge tasks with a small team. Or when you are the only point of control, managing micro tasks to deliver the ultimate product.

If that’s your scenario, to be an effective entrepreneur, make your  decisions at micro levels and commit to them. Shazi Visram, a mompreneur, reveals that not feeling guilty is an important decision entrepreneurs need to make to save their energy and time for bigger decisions.

2. They visualize new opportunities

“Don’t be scared that you’re doing things in a different way. Be happy that everyone else is doing it the same.”

–Demian Ross

A major part of entrepreneurial success relies on opportunities. A highly effective entrepreneur is one who can identify opportunities where others see a dead-end.

In fact, they’re always eager to invest in new business ideas and unlock doors that others are reluctant to open.

Most successful businesses emerge from such clever maneuvers. ClassPass was born in 2013 after Payal Kadakia struggled to find a dance class to take after work in NYC. She created a subscription based business to make fitness memberships more flexible by cashing on the needs of fitness lovers to try out different classes and options.

Similarly, Women Rocking Business Founder & author Sage Lavine helps other women entrepreneurs in their journey with her entrepreneurial training programs & humanitarian projects. She identified major challenges women face in their entrepreneurial success and worked on eliminating them. This opportunity utilization helped her establish a million dollar company.

But it’s also crucial to remember that an effective entrepreneur doesn’t just know when to utilize an opportunity. He/she also knows when it is best to let go of a chance. The key is to stay flexible to avoid a burnout.

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3. They learn to manage stress

The words stress and entrepreneur are often used in the same sentence. And it makes sense. Entrepreneurship can lead to extremely stressful situations, especially when the risk is high.  

But notice any successful leader under stress and you will find that they keep their cool even when things go haywire. A breakdown in the face of adversity can lead to some really bad decisions. And that my friend, can be catastrophic.

During the early days of Crackitt, some days were really rough. I was not only keen on offering conversion-centric videos to my clients, I also wanted to ensure the aesthetic quality is never compromised. This was a unique case scenario in the world of explainer videos and I lost a number of clients who didn’t buy into my vision. Today, thanks to an eco-system that allowed me to cope with the stress,our portfolio speaks for itself.

So, I suggest that we accept and plan for stressful situations.

For both men and women entrepreneurs, work-life imbalance can be a big cause of stress and anxiety. To achieve success in their work, good entrepreneurs know that they must focus on creating a positive work-life balance. Invest in relationships to call upon your inner circle of friends & family as your biggest support system in difficult times.

Also read: Fuel your mind and career with these 8 goals

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4. They know when to change their perspective

A can-do entrepreneur is someone who knows when to adapt and change perspectives to see things from a different angle.

Effective business people know that successful strategies come from effective listening. While successful entrepreneurs stay at the centre of all decision making, they are always willing to hear what others have to say.

Watch: How to Boost your Skills Creatively!

Also, they have the courage to take one step further than everyone else.

They know that it is by shifting perspectives and introducing new viewpoints in their business that they can achieve great heights.

A great source of information can be your sales team or client-interaction teams. At Crackitt, oftentimes, in my interactions with the sales team, I have unearthed perspectives that have led to 180 degree strategic turnarounds.

So, it pays to be flexible and seek feedback.

Also read: 5 success mantras from a creative career

5. They are curious

Most successful CEOs read about 4-5 books a month. The ability to stay curious is what sets them apart from everyone else.

“I’ve never met an interesting person who’s not also an interested person.”- Elizabeth Gilbert

And curiosity doesn’t just revolve around books, it can be anything that helps you expand your worldview. From meeting new people to understanding new cultures or languages, effective business people manage to keep their curiosity alive. And when they translate their curiosity into business, it helps them reap great rewards.

Also read:

18 high impact books to enrich your professional career

11 podcasts with the power to lift your mindset

8 TED talks for women at any lifestage

Closing thoughts

The road to entrepreneurial success is forged through discipline. And this discipline is built on highly effective habits. To stay productive, these habits need to become a regular part of an entrepreneur’s life. From cutting down time on less important decisions to maintaining a sound work-life balance, to staying curious; all these habits can help you in making your business journey easier.

So, which habits have helped you in your entrepreneurial success? Would love to know and learn from your experience!

Connect with Deepasha

Deepasha Kakkar is a visual marketer, founder of Crackitt, and a consumer behavior aficionado. She helps businesses & organizations hone their identities, craft their brands, and share their truths using beautiful handmade animated videos and compelling infographics. You can connect with her on LinkedIn.