Over the years, I’ve worked with thousands of business owners. Some have achieved extraordinary success, and I noticed they share certain habits… things that set them apart from the average entrepreneur.
Curious to see if these habits could work for me, I implemented them. Many didn’t seem to help much. However, others had a profound and transformative impact. Today, I want to share some of these habits with you.
In no particular order.
They know when to rest. Yes, when it’s time to work, they certainly work. However, they make sure they regularly relax when it’s time for family and friends. They know that balance isn’t a luxury, it’s absolutely essential.
Small business owners in general tend to work hard and many, maybe most, also take too few vacations. It’s very hard to operate at your best, when you’re overworking. Be kind to yourself. Take some time out to sharpen the saw. Even if it’s to close an hour earlier occasionally and go for a walk. It’s hard to be productive when you don’t feel productive. Go on. Give it a try.
They learn how to be great decision makers. Great decision makers get all the information required. They study it. They then request expert advice, if needed. Next, they consider the benefits and the costs of making the decision. They then consider the benefits and costs of doing nothing. Finally, they decide.
I’ve learned that the most common error business owners make, is to ignore the costs and benefits of not making the decision. The cost of not making a decision, even a risky one, can be absolutely massive.
They out-think their competitors. Successful business owners learn to think strategically. Other’s waste years trying to copy an idea, because it’s claimed to have worked for someone else or they read it in a book or they heard it on a podcast. They have no idea of exactly how that idea was planned, or if it applies to their business, or if it’s even effective today with the economy extremely unpredictable.
Strategic planning gives you the power to decide what you want, then create your own success map, based on your specific needs. Such as your resources, personality, strengths and the economy you’re working in.
They do it their way. They write their own playbook for success as they go along. They know that by having a less prescriptive approach to business, they get noticed. This is something I picked up on at a very early stage.
When I started my current business in 1995, I intentionally did things differently. This included identifying the managers at all my local banks, accountants and office supplies companies, then inviting them to local business events. As I got to know them, I also referred them to prospects. All for free. The word spread. Without spending a dime on ads, just a few months after starting my business, I was known by hundreds of local business owners. I had more clients than I could handle.
Look for smart opportunities to zig when your competitors zag. Tip: Remember that the process of giving and receiving, starts with the giving part. So, give something useful. Be helpful. You’ll attract more bees with sugar than with vinegar.
They are selective about their inner circle. As a mentor once told me, ‘If you hang around with people who’re going nowhere, one day, everything they have will be yours’.
They master time management. Every minute counts, and they make sure their time is spent on high-impact activities.
They make connections in advance. A strong network is an asset that pays dividends when opportunities arise. As I mentioned earlier, I invested a lot of time 30-years ago
They keep their promises. Reliability builds trust, which is the foundation of great reputations and strong businesses.
They do more than expected. They know that it’s the additional, unexpected ‘extra’ that people remember.
Final Thought
I hope these insights resonate with you. More importantly, I hope they encourage you to take action.
What next?
I started, by using and implementing just one of these habits, to see where it would lead me. I then selected another, and another. You get the idea. One at a time.
The question now is, which one habit are you going to start with?