Every new entrepreneur knows that success is defined as business growth. However, in order to truly become successful, young entrepreneurs have the beat the odds. Depending on which study you are looking at, roughly 8 out of every 10 new businesses will fail within the first 5 years. Nevertheless, there are those who start out with very little money, network, or business experience and end creating greater success in a few years than most people will ever build within their lifetime.
What is the difference between successful young entrepreneurs and those who struggle? With certainty, it is not simply the luck of the draw. These individuals have daily habits that make them different. The best part of these surprising habits is that they are no great secret. All you have to do is adopt them and make them part of your regular routine and daily practices. If you can make these habits stick, you are well on your way to business and personal success.
The Habits of Successful Entrepreneurs
1. Successful Entrepreneurs Start with a Clear Vision and Goals – Successful people do not just go with the flow. They wake up every day knowing where they want to go in life and take the actions needed to get there. They are creating new business and personal goals on a daily basis to achieve their long-term vision.
2. Successful Entrepreneurs Embrace Gratitude – A person who spends their time focusing their attention on everything that has gone wrong during the day will attract more of what is going wrong. Successful people look for all the good that is happening during the day. Focusing your attention on positive outcomes can help generate more positive outcomes.
3. Successful Entrepreneurs Control Their Money – Taking control of your money and cash-flow gives you the power to plan and more easily reach your goals. The key to making good decisions is having the ability to focus more on what to do with your money and less on where your money is coming from.
4. Successful Entrepreneurs Will Celebrate Victories – Successful people have no shame in standing up and proclaiming, “I built this!” They will celebrate milestones and victories every single day. Start this habit by creating a daily list of the 3 things you did well that day. It doesn’t matter how big or how small. It can even be something as simple as brewing a great cup of coffee.
5. Successful Entrepreneurs Embrace Their Fears – Successful people understand that courage is not the absence of fear, it is the ability to overcome their fears and putting them to work. A failure is little more than something you encounter on the path to becoming successful. Take the time to face down your fears and to learn the lessons of failure.
6. Successful Entrepreneurs Have Awkward Conversations – Learn to become comfortable with difficult and awkward conversations with people. Entrepreneurs have the leadership abilities that help them understand that an uncomfortable conversation is preferable to the negative consequences created by poor communication, personality conflicts, feeling unappreciated, or other issues.
7. Successful Entrepreneurs Focus on Their Health and Wellbeing – While there are a few notable exceptions, many successful people pay close attention to their physical health, eat well, and exercise. Multiple studies have shown the stress relieving benefits of a healthy lifestyle and how physical exercise can improve one’s mental capacity.
Today’s article shared just seven of the shocking habits of successful young entrepreneurs. Try to add these behaviors to your life over the next 90 days and you will experience and almost immediate difference. While adopting new habits is not easy, a one habit at a time approach is the most effective strategy. The more you examine how successful entrepreneurs behave and think, the more you will be able to reproduce their positive outcomes.