Becoming a successful entrepreneur requires a lot of work. In addition to identifying your ideal customer, you need to devote yourself to your endeavors, follow through with your plans, and masterfully manage your time. It also helps to have a quality product or provide a valuable service. This is all easier said than done, but – you do, however, have the advantage of learning from others. After all, you’re not the first entrepreneur to walk the planet!
Learn from the examples of those who came before you. By looking at their positive behavior, you’ll find areas for improvement and avoid detrimental mistakes. Read on to discover the 8 most useful practices of successful entrepreneurs.
#1 – Find Your Focus
Without focus, it’s hard to achieve goals. When you look at the leaders in any field, it’s easy to identify their goals. You can tell what they’re selling and what their products or services offer. Accomplish this by staying focused on your main goal.
What is the main purpose of starting your new venture?
Having this focus gives you a clear direction. Every decision you make should in some way help you work toward this goal. From there, you can set smaller, short-term goals. This could include anything from launching a new product to starting an integrated marketing campaign.
#2 – Choose One Major Goal Per Day
To achieve your long-term and short-term goals, you should set one main goal each day. This is one goal that helps you work toward reaching a bigger goal.
Basically, if you only accomplish one goal today, what is the one thing that you’d like to complete? Having this specific goal helps you prioritize.
As you probably know, life doesn’t always run smoothly. You may encounter challenges or hurdles on any given day. With a single goal for the day, you can easily adapt. You can skip smaller tasks as needed.
Either at the start of the day or as you lay in bed at night, choose your one main goal for the day.
#3 – Scheduling Blocks of Time
Focusing on one goal at a time is just the start. Once you know your goal, you need to follow through. A lack of productivity can kill your dreams. When you’re in charge of your own schedule, it’s easy to put tasks off for later. This procrastination doesn’t get you anywhere. Before you know it, the day is almost over and you’re rushing to get anything completed.
To help you finish your one main goal for the day and stay on track, schedule blocks of time. Instead of telling yourself that you’ll work from 9 AM to 5 PM, divide your time into 2-hour blocks. This simple practice helps you keep track of time. You also gain a better understanding of how much work you can complete during a 2-hour time block.
As a bonus, these short blocks of time allow you to stay productive. Even when you’re feeling sluggish, you can force yourself to work for 2-hours. Zapier features a few great time blocking apps here.
#4 – Stop Multi-Tasking
This next practice goes hand in hand with the previous examples. As mentioned, you need to stay focused. Multi-tasking is the opposite of being focused.
Numerous studies have explored the disadvantages of multi-tasking. In fact, one study suggests a 40% reduction in productivity when you give your mind to multiple tasks.
Basically, you should only work on a single task at a time. When the need to complete an unexpected task arises, either complete your current task or focus all your attention on the new task.
Not only will this help you remain productive, it could improve the quality of your work. You’re giving your full attention to the task at hand, instead of dividing your thoughts between multiple projects.
#5 – Know When to Outsource or Delegate Tasks
You cannot complete everything on your own. Putting too much on your plate makes it difficult to employ the previous practices. It also increases your stress and generally makes you less productive.
A productive entrepreneur will know their limitations. There are some tasks that are best left to others. For example, is it worth your time and energy to manage your own marketing campaign?
By outsourcing certain tasks or employing a skilled digital marketing company, you can free up your time. You’ll find it easier to complete your daily goal each day. And, you won’t get as stressed when new tasks come up.
#6 – Know When to Move On
Sometimes it’s hard to admit defeat. As an entrepreneur, it’s important to understand that not every idea will be a success. There are going to be times when a project simply doesn’t have legs. When you spend a great deal of time on a project that is going nowhere, you’re keeping yourself from moving forward.
Learn how to decide if it’s time to move on from a project. Generally, this requires a look at your return on investment. Consider the amount of time, money, and resources that you’ve put into the project. Compare this to the expected return. If the chances of making money on the project look slim, then it could be time to move to your next endeavor.
#7 – Never Stop Learning
To be a success in your industry, it helps to know your industry. Never stop learning. That last thing you want to happen is to get left behind. Stay updated and learn as much as possible about your chosen profession or field. Those at the top often get there by being the most knowledgeable about their market or industry. There are endless tools and resources that can help, and following key social media influencers will keep you current with industry news and information with minimal effort.
Each day, you should try to learn one new thing about your industry. Look at your competition and their new products. Read customer reviews. Pay attention to breakthroughs in your field. Follow popular bloggers and read the latest news.
#8 – Get Rid of Simple Daily Decisions
This final practice requires some changes to your daily habits. The idea is to eliminate the need for meaningless decision-making so that you can focus your attention on your business. What are these simple decisions that waste your brain power? This includes what clothes you’ll wear, what you’ll eat, or how you’ll get to work.
For example, Steve Jobs famously wore the same outfit each day. He didn’t need to waste 5 minutes each morning choosing a shirt, slacks, and tie. He simply put on the same black turtleneck. Facebook’s Mark Zuckerberg followed this practice, often wearing the same style hoodie each day.
While you don’t need to go as far as purchasing a week’s worth of the same outfit, you can start simplifying some of your daily decisions. Or, just make these decisions in advance. You can plan out your outfits for the week on Sunday or come up with a meal plan for the week. It’s truly that simple.
How Can You Employ These Practices?
Implementing these practices into your daily routine won’t be easy. But, neither is running a profitable business. Instead of trying to make too many changes, focus on one or two changes at a time. Pick and choose from this list and begin taking the right steps forward. And, don’t forget to outsource certain tasks to free up some of your time!
How do you entrepreneur like a boss? Share your tips in the comments section below, or connect with us live on Facebook, Twitter, or Instagram