4 Habits of Successful Entrepreneurs

4 Habits of Successful Entrepreneurs

Success doesn’t just happen.

Bill Gates has been thought of as an overnight success. However, after some research you might be surprised to discover that Microsoft was founded back in 1975. Six years into the project, Gates secured a contract with IBM then in 1986, Microsoft went public and became a household name. Today his worth is estimated at $82.1 billion.

The truly triumphant entrepreneurs hold a distinctive collection of skills that they have gathered and built on over time. Potentially their cutting-edge idea or fantastic product has suffered through a lengthy period of development and experimentation.

Set your own goals and settle into a long-term mindset all the while keeping in mind some of the habits that successful entrepreneurs have in common.

1. Let Go Of The Noise

Ignore the self proclaimed gurus, rock stars, and Jedis.

According to an article from University of Alabama at Birmingham “The rise of social media has introduced a new breed of business advice columnist: The “expert” who re-tweets business blog articles and regularly posts vague marketing phrases and general advice. Take this advice with a grain of salt — just because someone calls themselves a “rock star,” that doesn’t mean following them will lead you into the spotlight as well.”

It’s not that unsolicited advice isn’t occasionally welcome, but there are always the know-it-all types. This person appears to be insightful on everything business related.

However, this individual may surprise you, just chatting along, until you mention your business and they immediately start offering advice by mapping out a daily to-do list for you to follow.

Watch out for Grandpa, he too may divert you with a “back in my day” story. While the counsel is almost always well intended, it doesn’t mean their advice is relevant to your situation. It’s acceptable to be courteous, listen, then excuse yourself to pave your own path.

2. Seek Guidance

As we move through life most of us have experienced varying degrees of guidance. The career counselor in high school, a treasured professor during college, maybe even a favorite colleague from a previous position. Countless successful entrepreneurs will tell you they could not have accomplished their goals without help from their own personal guru.The key is absorbing the knowledge, translating it and putting it into practice. For many this was a critical element to get their business off the ground.

Nevertheless, you may already have a trusted advisor, but if not, seek out insightful advice from a unique source. Search for someone you admire who is possibly a generation older and that was successful during their career.

If you always thought the key to knowledge was through your library card, check into a suggested reading list that includes the top business books in your industry or general business subject matter. The right advice can stay with you for the entirety of your career. It can help you stay true to yourself and your vision when dealing with a setback and can inspire you to maintain your drive when things are going well.

SCORE, a national association, whose mission is to assist owners grow their businesses. SCORE Counselors help thousands of budding entrepreneurs yearly. They can dispense advice through local chapters or through online mentoring. Good advice to follow would be to prepare for your meeting time. Create a list of questions, possible scenarios and concerns that you may have. Immerse yourself in the process learn from the experiences of those that have gone before you.

3. The Power of a Connection

Building a successful business takes dedication and ambition. A network of friends and associates can be a priceless instrument in your toolbox. As an entrepreneur, networking should be a high priority that is enjoyable, but also thought of as crucial to personal growth and business development. Joining organizations or networking groups let you interact with like-minded people.You can ask for their advice, they can be invaluable sources of information and support. Let’s not forget the possibility that they can always send customers your way. Quality relationships can provide you with the keys to the kingdom.

Research your area and find out what options are available. A notable place to start might be Check out the local posts in your area to discover like-minded individuals. Another option would be checking into the local Chamber of Commerce. Many chambers offer a full slate of networking activities and events.

4. Be Prepared to Fail

Show me a person who never made a mistake, and I will show you a person who never did anything. – William Rosenberg, Founder of Dunkin’ Donuts

Everyone has experienced failure at some point in our lives. We fell down when we tried first tried to walk. We probably missed our mouths the first few times we picked up a spoon. When picking up knitting needles or getting behind the wheel of a car for the first time we probably weren’t victorious the first time out of the gate. Babe Ruth struck out at the plate 1330 times. He didn’t let that stop him because in recorded history he continues to be in the top five for the most home runs of all time with 714.

The message should always be to try and try again. Failure is not fatal, but it can open the door for another opportunity. In the event that your business isn’t a colossal success, and you close your doors, reflect on what you’ve accomplished and consider what might work better the next time. There’s always another opportunity; dust yourself off, go forth and conquer!

C.A. Newberry

Written by C.A. Newberry

C.A. Newberry is fascinated by diverse topics and believes in the power of continued learning. Her varied background includes event coordination with much of her time spent completing “whatever additional duties the job required”. March through October you can find her at the ballpark. Connect with her on Twitter.
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