ENTREPRENEURIAL HACK OF THE WEEK #37
Habits of Effective Entrepreneurs
Follow your dreams and make these three a habit
Gallup’s widely used Builder Profile 10 identified that 2.5% of the population has the rare and special talent to be top-notch business builders. What if you’re an entrepreneur who aspires to the top-notch level, but you’re not part of that elite percentage?
You could make up for it by developing the habits of effective entrepreneurs. They’re driven by unique habits that set them apart, shape their business strategies, and influence their personal lives.
Successful entrepreneurs consistently embrace these practices to achieve their goals. It’s important to dream big, but having effective habits that allow you to reach your goals systematically is just as important.
Consider Walt Disney. He was fired from his newspaper job for not being creative enough — but we all know that’s false. Disney had dreams big enough to drive him to build the entertainment empire many have come to love. He used his passion to inspire new ideas and, intent on succeeding, found ways to turn them into reality.
You, too, will succeed if you follow your dreams with passion and intent. It’s the first of three habits setting apart effective entrepreneurs.
Dream big, Start Small, Scale Fast
Vision is the cornerstone of every successful entrepreneurial journey. Effective entrepreneurs dare to dream big and envision a future others may not see. They think outside the box, challenge the status quo, and ask, “What if?”
By exploring different possibilities and outcomes, they can anticipate challenges and seize opportunities others might miss. This habit enables them to innovate and remain agile in an ever-changing business landscape.
For instance, consider the story of a tech entrepreneur who envisioned a world where people could connect instantly, irrespective of distance. This visionary thinking gave birth to a social media giant that transformed how we communicate today.
By dreaming big and continually questioning the potential of their ideas, effective entrepreneurs can turn dreams into reality and leave a lasting impact on the world.
Take care of yourself
The entrepreneurial journey can be exhilarating but comes with its fair share of stress and challenges. Effective entrepreneurs understand the importance of self-care and prioritize their physical and mental well-being.
Burnout is a real threat in entrepreneurship’s high-pressure world; neglecting self-care can hinder productivity and creativity.
Successful entrepreneurs make time for activities that rejuvenate their minds and bodies, such as regular exercise, meditation, spending time with loved ones, or pursuing hobbies and outside interests.
By caring for themselves, they can maintain the energy and focus necessary to tackle obstacles and stay resilient in adversity.
Spend your time wisely
Time is a finite resource, and effective entrepreneurs know its value. They recognize that how they spend their time directly impacts their productivity and overall success. Time management is not just about being busy but rather about being intentional and purposeful with every minute.
Entrepreneurs who succeed in managing their time prioritize tasks based on their importance and urgency. They set clear goals and establish a well-structured schedule that allows them to focus on high-impact activities while delegating or eliminating non-essential ones.
This habit ensures they achieve their business objectives and allows them to strike a balance between work and personal life. Paying attention to one’s energy and directing it toward things with the most significant impact separates highly effective entrepreneurs from run-of-the-mill business builders.
Effective entrepreneurs possess a unique set of habits that propel them toward success. Whether your talents land you in the elite 2.5% of naturally gifted business builders or not, embracing these habits can foster success in business and lead to a more fulfilling and purpose-driven entrepreneurial journey.
So, if you aspire to be an effective entrepreneur, start cultivating these habits and witness the transformative power they unleash. Remember, on average, it takes 66 days for a new behavior to become a habit!
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Karl R. LaPan is the director of UF Innovate | Accelerate, the place-making, entrepreneurial support organization within UF Innovate dedicated to working with entrepreneurs, innovators, and business builders. Through two award-winning, globally recognized facilities, UF Innovate | Accelerate delivers industry-leading entrepreneurial programs and services designed (1) to accelerate the growth and development of its client companies and (2) to increase the likelihood of success of the business ventures it serves.
Originally published at https://www.linkedin.com.
