The biggest companies of this world were once mere startups with no way of knowing what the future held. The founders of these companies are now revered for their success, envied for their entrepreneurial skills, and looked up to for inspiration. How did they build such large empires from scratch? We have noticed that these business leaders have a few common traits that sets them apart from others. If you can make a habit and practice these tips regularly, you too can reach the pinnacle of success!
Read Every Now & Then
Billionaires, successful startup founders, and high profile investors all have one thing in common. They are not nerds but they definitely consume books whenever they can. Reading helps them learn new things, practice patience and improve written communication, to say the least. The benefits of reading are countless. It’s a bonus if you are reading autobiographies of the tycoons – you are learning the craft from the experts, the very best.
Create Time for Sleeping and Relaxation Aggressively
When we look at the busy lives of the CEOs and the sharks, we tend to think that it’s all work and no play that took them where they are today. In truth, it’s not hard work that takes them through the day, it’s a discipline. A good balance between sleep, diet and recreation allows you to give your 200% at work. So, if you want to work hard, you need to sleep hard.
Your business is all about one thing: money. If your business is not making money, it’s either a bad investment or charity. We have nothing to say if charity was your intention (except “good job”), but we do need to ask you to start managing your money properly, if you are headed towards a bad investment.
For the common folks, the rule of money management is simple: if you can’t afford it, don’t buy it. However, we can’t, in good conscience, give budding entrepreneurs the same advice, since business is all about taking risks. It means that sometimes, you’re going to have to go all out and even take loans.
Even then, without proper money management, your loans and risks will be better off with not being taken. So, it’s worth getting some good reads by some economists, about money management, if you aren’t a prodigy in that department.
Your mind cannot work without a healthy body. If you are tired from walking up to your desk from the elevator, you most likely would be making bad decisions till you stop panting. If you are suffering from a splitting headache, you can’t focus on the meeting that’s going on.
Having a fitness routine is essential for a business owner, so that they are always ready to go an extra mile if necessary.
Only Working on High Value Tasks
Calculate your ROI. We cannot emphasize on it enough. If you are trying to get into a market with high competition, you might need to start small and build up your reputation; but if you can afford to choose, choose the tasks with a high return on investment. A great way to ensure that you only prioritize your business is choosing coworking spaces such as The Business Center. This is because in this case you will not have to worry about office management, lunch breaks, tech support and everything else that comes with an office. The Business Center will do it for you while you focus on your priority tasks.
You may hold long meetings to ensure that everyone is well aware of the requirements; or you may delegate the task to a manager and instead spend this newfound spare time to create a better rapport with your clients. You decide how you run your business, but we suggest that you do it with efficiency in your mind.
Up Your Networking Game
With all the different advertising media out there, it’s easy to be seen. With all the advertisements out there, it’s not easy to be trusted. That’s why word of mouth is considered to be the best form of advertising. You would never be losing when making more connections. The key to a successful business may lie in your connections.
Practice these few habits, learn to read more, follow a better discipline, exercise routinely, be more efficient and make more friends. Hopefully, your new business will soon turn into the successful franchise you dream of.