Entrepreneurship is the creation of an innovative economic organization (or network of organizations) for purpose of gain or growth under conditions of risk and uncertainty. Entrepreneurs are some of the most powerful individuals in the society. Not because they are wealthy, but because the habits they possess ensure that they are successful in whatever they set out to accomplish. Take a look at the seven habits below and find out which habit you have in common with incredibly successful business leaders, managers, team leaders and entrepreneurs world wide!
1. A Hatred for Sleep
You’ll find most entrepreneurs never sleep in late (unless perhaps when on vacation!). Every second you spend lazily snoozing in bed, is a second you spent watching your productivity plummet. For most people, this is pleasurable and a welcome break, but for an effective entrepreneur leader, it’s a restless affair. Taking a break is worthwhile. But that’s what your 8 hours of sleep is for. You don’t feel happy unless you’ve had a good measure more than this, than there’s a good chance you won’t cut it a business leader.
2. The Willingness to Delegate
From low-level positions, delegation is seen as a mouth watering perk. Who wouldn’t love to be able to be able to give important tasks to people below them, and take the weight off their shoulders? The real answer is; less people than you’d think. While most people think delegation is something they could get a very used to; in practice, it’s a very tough and draining process if done incorrectly.
Entrepreneurs have the ability to delegate tasks completely to those below, even though so much stands on the success of activities. A successful leader simply places confidence in those beneath them, and let experts do what they do best, leaving the entrepreneurs to do what they do best-leading!
3. The Lightning Pursuit of Opportunities
The difference between a successful entrepreneur and a normal individual is that when they both see a business opportunity; their reactions are different. A normal individual may consider a business opportunity that has presented itself, and look at their bank account and, maybe, plan a possibility of leaving their job. However by the point, the entrepreneur will have already organized a team to begin!
Business leaders do not wait for opportunities to slip onto their lap. They instinctively partake in the continuous research (or pay someone else) to always make sure they have some new directions to be exploring. They’re never happy staying in the same place, and are always looking for the next new idea. Even successful entrepreneur that are seen to stay firmly within ones business may be actually exploring several products or business model within that single entity.
An ineffective entrepreneur may think-“there are pros and cons here….. Let’s weigh it up” the successful business leader thinks – “Those pros are significant enough to pursue this, we will solve this later.” Being optimistic is a crucial habit for entrepreneurs, because it’s the only way to deal with the amount of risk these people take on! Would you risk your year’s salary in order to make more money next year? Many wouldn’t, and that’s why successful entrepreneurs aren’t common.
It’s probably their most common trait- Entrepreneurs can sometimes be ruthless individuals. This isn’t to say they are immoral, but don’t expect to receive politeness and ‘niceties’ if it will hinder their success. You have to be this focus too. Maybe you’re thinking ‘it isn’t worth it’. Well, being an incredible successful entrepreneur isn’t for everyone!
7. Obsession with Attention to Details
Everything has to be perfect. Competition is so fierce in today’s business world that entrepreneurs cannot afford to do a half job. A successful business person won’t go home until the job is completed 110%. Delivering above what is expected is a classic signature of entrepreneurs. This is how extraordinary profits are made and how a small venture can explode into a multi-million dollar success.