Over the past two and a half decades, I’ve had the privilege of working with thousands of entrepreneurs, many of whom have achieved remarkable growth. Through these interactions, I’ve identified six key habits that successful entrepreneurs share. Here’s what sets them apart:
1. They keep their vision “well oiled”
A clear and compelling vision is the cornerstone of any successful business. Successful entrepreneurs understand that a vision must be dynamic and evolving. They make it a habit to revisit and refine their vision quarterly and use compelling visuals and diagrams to communicate it effectively.
This ensures that their teams remain aligned and motivated, driving the business forward with a shared sense of purpose. My view is that a vision is like a car engine—it needs regular oil changes to run smoothly.
2. They track their progress religiously
Successful entrepreneurs are meticulous about tracking their progress. They regularly monitor their personal NAVs, budgets, and objectives, always ensuring they have a clear understanding of their financial health.
I recall my early days when I learned the hard way: if you don’t know your numbers, you don’t know your business. Following this habit allows entrepreneurs to make informed decisions and adjust their strategies as needed, keeping their businesses on a steady growth trajectory.
3. They are big on planning and flexibility
Planning is a critical component of entrepreneurial success. Our most successful entrepreneurs place a high emphasis on preparing for meetings, the week ahead, and important presentations.
They have a weekly preparation routine but remain flexible enough to adapt when plans change. I remember once planning a big pitch down to the last detail, only to have the client change the brief at the last minute. Flexibility saved the day! This balance of structure and adaptability helps entrepreneurs stay ahead of the game.
4. They are voracious readers
Reading is a daily habit for successful entrepreneurs. They focus on books and articles about business, their industry, personal development, management, leadership, and strategy.
More importantly, they take notes while reading and even use plane trips to catch up on their reading and work. I never board a plane without a good book and a notepad. Some of my best ideas have come from 30,000 feet in the air. A constant quest for knowledge helps entrepreneurs stay informed and inspired.
5. They are organisational wizards
A cluttered space leads to a cluttered mind. Our successful entrepreneurs regularly clean and organise their computer desktops, email folders, desks, drawers, and physical files.
This habit helps them maintain a clear and focused mind, ready to tackle any challenge. My desk used to look like a tornado hit it. Now, a clean desk—or rather, my idea of a clean desk—is my secret weapon. Organisational prowess allows entrepreneurs to operate more efficiently and effectively.
6. They think – a lot!
Deliberate thinking is a key habit. Successful entrepreneurs take time to think deeply about their business and strategies. Whether it’s during a holiday or over a couple of drinks, they use this time to reflect and create to-do lists.
Some of my best strategic decisions were made on a quiet beach with a notepad in hand. This habit of thoughtful reflection helps entrepreneurs stay ahead of the curve and continuously improve.
By adopting these six habits, all entrepreneurs can improve their chances of achieving sustained growth and success. Remember, it’s not just about working hard; it’s about working smart and staying organised, informed, and inspired.
These habits are not just practices—they are the foundation upon which successful businesses are built.
