6 Important Habits for Entrepreneurial Success

6 Important Habits for Entrepreneurial Success
Share on facebook
Share on twitter
Share on linkedin

Ask any successful entrepreneur and they’ll tell you that habits matter enormously. What you do on one single day won’t make a huge amount of difference to your journey; it’s what you do each and every day that counts. We’ve put together a list of good habits for new entrepreneurs to prioritise so that you can set yourself and your business up for success.

1. Read

The most successful entrepreneurs are the ones who are always striving to learn more and better themselves, and reading plays an important role in this. Many successful entrepreneurs, from Jeff Bezos to Mark Cuban, cite their love of books as a contributor to their financial success. In fact, Warren Buffet claims to spend up to 80% of his day reading and Mark Zuckerberg says that he gets through two books per week.

2. Keep a Close Eye on Your Finances

None of the billionaires mentioned above got to where they are today by playing fast and loose with their finances. It’s important to monitor your finances carefully and make sure that you understand your current situation. If you struggle with this, then it would be wise to hire an accountant or financial advisor who can provide you with insight and guidance, and ensure that the numbers are in check.

3. Prioritise Sleep

They say that successful people get up early, but successful people also get enough sleep. Getting an adequate amount of good quality sleep is important for concentration, mood and brain function, so don’t skimp on shut-eye.

4. Focus on High Value Tasks

Get into the habit of assigning a value to each task, and prioritising accordingly. As a business owner, your time is a valuable resource; can you really afford to squander it on  low value tasks such as scheduling meetings and cleaning up your inbox?

Assigning a value to your tasks will tell you what you should outsource and thus allow you to focus on the important, profit-generating activities that really propel you forwards.

5. Networking

Networking isn’t just for the odd conference here and then. Successful entrepreneurs reach out daily – whether virtually or in-person – to their business contacts and prospects in order to maximise the opportunities that come their way. Business is all about building relationships, so get into the habit of networking every day in order to maximise your chances of success.

6. Start the Day Off Right

Notice that we didn’t say “start your day at 5am.” Whilst you don’t need to wake up at the crack of dawn to be successful, it is important to wake up at the same time each day (whether that’s 6am or 10am) and set yourself up for success with a good morning routine.

A good morning routine does not necessarily take two hours and involve 36 separate steps. It should simply start your day off on a positive note and get you in the right mind frame to work. This could mean grabbing your trainers and heading out for a morning jog, reading 10 pages of an uplifting book or simply having breakfast with your family.

It’s also important to sit down and read through your list of goals before you begin work each day to keep yourself motivated and focused on what you want to achieve.

Summary

As John C. Maxwell said “the secret of your success is found in your daily routine,” so start working to implement the above habits into your day. Alone, they may not seem like much but over time these good habits will compound and contribute to your success. Of course, a complete overhaul can be overwhelming, so focus on integrating one habit at a time.

Download a habit tracking app or print out a calendar and check off each day that you put your new habit into practice. Do this for three months, until your new habit is no longer new, but rather deeply ingrained, and then start focusing on another small change.

There is no such thing as overnight success but, with time and consistency, a few small habits can really add up to make a big difference.

Stefanie Dillaway
Stefanie Dillaway

Stef is an experienced accountant and virtual FD based in East Sussex. She helps savvy business owners build thriving businesses.

Get in touch
About Elite Business Accounting
We work with a variety of different businesses across the UK and London, helping them streamline their accounts.
Recent Posts
Follow Us
Free Accounting Advice
Enter your contact details and we’ll get back to you quickly to offer our advice.

Download our FREE eBook!

5 Big Profit Draining Mistakes Small Businesses Make
Consent*
This field is for validation purposes and should be left unchanged.