ENTREPRENEURSHIP MINDSET

Top 5 Habits Of A Successful Entrepreneur

06/16/2019

If you’re anything like this blogger, you’re probably obsessed about how you can reach your next level of success, and how good you’ll feel when you’ll get there. Getting there can be frustrating; there is such a big gap between having an idea and reaping the rewards. You could work hard for months and not getting the results you’re looking for.

All the while, others will seemingly go from success to success without much efforts. Maybe they know something you don’t. It’s all down to these Top 5 Habits Of A Successful Entrepreneur that will help you reach your goals and accomplish what you’ve set out to do.

Let’s begin!

Top 5 Habits Of A Successful Entrepreneur

Habit N°1: Be Your Biggest Fan

As a businessperson, you have to be your biggest fan and have tons of self-confidence. People who do not believe in themselves can never reach their goals because their negative habits are preventing them from doing what they know they need to do.

Self Doubt & Naysayers

Beware of sharing your goals and ideas with people around you. You could be shocked by their reaction. They may dismiss and doubt that your goal is even possible. Self-doubt may also creep in. That negative self-talk in your head that keeps arguing that you are not enough?

You’ve got to find a way to shut both of them down.

Dealing with naysayers, three options:

1 – Ignore them and let their negativity roll off your back
2 – Talk to them and convince them not to be negative
3 – Stop hanging around with them

Everything depends on your circumstances. More often people don’t even realize they’re doing it. So start by just calling them out.

Some will be unable to change their views. It’ll be up to you whether or not you can deal with them or if you’re better off avoiding their company altogether.

Avoiding the negative self-talk is so challenging because it’s with you wherever you are. Try and reframe the negativity and instead of talking to yourself, imagine you’re talking to a good friend. Be your biggest fan and be kind to yourself!

What are your strengths?

It’s easier tp believing in yourself when you acknowledge your strengths.
It helps to make a list of the things you are good at. Are you a great salesperson? An innovator? A team builder? A great mum or dad? Can you read lips?

You could make a list of your strongest abilities and then turn them into positive affirmations. It’ll help you keep up a positive perspective.

Overcoming Negative Thoughts and Fears

The down of recognizing your strengths is you end up taking a close look at your fears and negative thoughts. We’re running scared from something. How we handle those fears is what sets us apart. Try to write your negative thoughts and spin them into positives.

Fear is a little trickier. You’re going to need to face and find ways to overcome your fears. If your anxiety is public speaking, for example, you could imagine the crowd in front of you naked (always works great for me).

The truth is that we all struggle in some way or another. Take Stephen King. One of his most acclaimed novels, Carrie, was rejected more than 30 times before it finally got published.

Bill Gates failed a company before creating Microsoft. Walt Disney got fired from the Kansas City Star because he lacked imagination.

The point is that you can not listen to naysayers. The only way to succeed is to be your biggest fan and shut everything else out.

Top 5 Habits Of A Successful Entrepreneur

Habit N°2: Testing, testing, testing

You probably have tons of ideas. Some are good, and some are terrible. How can you tell the difference? Testing, testing, testing

Testing your products and ideas is paramount! Here is why.

Which of the two options below will yield the most results?

Developing and launching a product without testing and find out no one needs your solution; or test and refine your idea before investing?

The answer’s clear.

Market Research

Market research correctly done will dramatically improve your chances of success. Research before you spend time and money starting a business. It could mean pitching your idea to friends and family members.

When testing ideas, it’s essential to confirm that you’re bringing a unique value proposition to the market place. The unique value proposition could be about extra functionalities or lower prices. How will you differentiate from your competitors?

Identifying Problems and Finding Solutions

You’re more liable to succeed if you recognize a commodity or assistance that provides a resolution to a dilemma faced by your tribe. People run online to attain solutions. They have problems and are scanning for a solution that will assist them.

Discover problems by seeking popular keywords in your niche and studying Google’s suggested searches. Say you aspire to build a business in the dog coaching niche, and you’re scanning for a different viewpoint for pup training merchandise. Try and search “How to train a pup” and This is what you get:

You’ll notice there are notions there, including concentrating on training with a bell or training with a crate.

You could create a niche by concentrating on a coaching method for people who are not at home during the day. That’s a predicament that might not be approached by others, that means it could be your different value proposition!

Smart Goals Setting

Do you know how to set goals? It involves more than stating, “I want a thriving enterprise.” Ever heard about SMART goals. It means establishing goals that are Precise, Assessable, Achievable, Wise, and timely. Here are some examples.

Join a new venture
Produce $50k in income on year one.
Draw twenty new customers in the first three months.

Do you see how these examples are all precise and achievable? In the case of the income and customer acquisition goals, they’re assessable and timely.

When setting goals, fine-tune them until they’re SMART.

Preparing for Failure

You presumably feel it seems odd to prepare for failure. It does – but it’s a genius move.

We ALL fail. Stephen King was rejected thirty + times by publishers, but it’s what he did after those rejections That made him a highly successful author.

He didn’t quit, didn’t yield. He dealt with refusal and persevered.

Understand that you may fail and prepare for it.

Top 5 Habits Of A Successful Entrepreneur

Habit N°3: Learning from Blunders

Every cloud has a silver lining. Cliché I know, but the fact that it is doesn’t make it untrue. Just like failures, errors show us who we are. We all make them. It’s how we react to them that separate the weed from the shaft.

Start-Ups Fail

It’s not easy to get a start-up up and running. Start-ups do fail, and it can be for several reasons. Here are some of the most typical:

– Not concentrating on customers and resolving their problems
– Loss of focus
– Scaling too hastily
– Not developing a success crew

We’ve already talked about concentrating on clients. Do that, you’ll be halfway home because you won’t be thinking about you like, but what your audience wants.

Focus problems appear when you try to do too many jobs at once. Simplifying goals on concentrating on one product or concept will help narrow your focus.

The idea of scaling sends entrepreneurs into tantrums. Let your business grow organically and scale only when relevant. You’ll read about building a successful crew later – but let’s be clear about this, you can’t manage it all by yourself!

Reframing Mistakes as Opportunities

Nobody likes making mistakes. It’s no fun to be wrong. However, every successful entrepreneur had to get comfortable with it – and learn to see mistakes as opportunities.

What happens when you mess up? If you pay attention, you acquire new knowledge! It might not be obvious to you now, but all that you learn will help you get to your goals.

If a blunder there is, take a long breath and ask yourself:

What can I take away from from this? Then, once you’ve recognized it, use the teaching to create your next break. It’s easy if you make a habit of doing it!

Make Your Goals Manageable

We previously discussed SMART goals. If you don’t realize a goal, it’s natural to feel disheartened. It’s often time a hint that you set the bar too high.

If you’ve ever created a to-do list, you’ve known how good it feels to cross them out. So why not try and put simple things on your list, just for the quick gratification of crossing them out.

When setting goals, break down every long-term goal into small steps. It helps to narrow down your goals. Each cross will take you one step closer to your end goal — each cross on your checklist, a small victory. Each victory

How to Make The Most From Your Experiences

Class is always on! All we experience is one big lesson. However, when you slip or mess up, it’s natural to be upset.

Embrace it! Own it! However, once you’ve done so, step back! Look at what went wrong, and what try and find the silver lining in your situation.

Read, investigate, communicate with people in your industry. Take what you learn to heart and use it.

Split Testing

The best ways to fine-tune your goals or products is by doing something called “Split Testing.” Split testing means taking your content or your ad campaigns and trying out different versions until you get a winner.

The key is to test only one variant at a time. Not getting the results you are looking for with your Facebook ad? Test two headlines, choose the one that delivers and then split test your call to action.

Crafting Your Back up Plan

Having a backup plan is smart. I know it’s not popular, but what If your first idea doesn’t work? What’s your next move? I’ll repeat it, having a backup plan is smart.

Top 5 Habits Of A Successful Entrepreneur

Habit N°4: Be Customers Orientated

Your customers are the core of your business. If you can’t serve them properly, your business will go bust. Simple as that.

By now, you know all about research and testing. However, even though you’ve tested and researched everything, you still need to keep your customers happy. It’s a simple truth. If your customers are satisfied, you’ll generate an income.

Creating The Ultimate Customer Experience

Customer relationship starts when they first learn about you and continues for as long as they remain clients. When figuring out the best customer experience, think through every step they will have to take.

Offer top-notch content, an easy and secured purchase process, and stellar support. Customers who’ve received fast and professional help will mention it to their tribe.

Giving Value First

What’s the secret ingredient to attracting new customers? BRINGING VALUE FIRST.

Before anybody buys your product, you need to show that you can deliver the goods. you can do that easily enough by offering valuable content before they purchase.

That means creating and delivering entertaining, educational, and actionable content that’ll demonstrate your know-how.

Bringing actual value, for free, triggers a mental response called Reciprocity. Prospects that receive free informative video or pdf, packed with valuable content, will be more inclined to purchase from you.

Of course, the value must be in the product itself. The top 3 qualities customers are looking for in a product are its usefulness, its endurance, and its cost.

Becoming The Authority Figure In Your Niche

Becoming an authority figure is critical. The best way to demonstrate your authority is to (you guessed it) deliver value to your clients.

However, being an authority has a deeper meaning. It’s about showing how much you care about your tribe. It’s about becoming a reliable and knowledgeable source of information.

These days it means delivering original content on social media that’s fun and educational. You can also post curated content relating to your niche and share your opinion on the subject.

One way to ascertain yourself as an authority and build your followers base is to offer a lead magnet. A lead magnet can be many things: an eBook, a cheat sheet, a template, or anything else that can illustrate your expertise.

Customer Support

It starts when a customer first visits your site. You should take into consideration what kind of support your customers require and how to best deliver it.

Back in the days, support was mostly in person or on the phone. Now, you have many options:

Email support
Instant Chat support
Chatbots
Self-service options
FAQ
Social media support

You’ll need to test various options to figure out what’ll work for your audience. Remember that many companies are merging social media with support and consider doing the same.

Habit N° 5: Building Your Team

A successful entrepreneur is someone who knows how to build a team. You can’t do everything by yourself. We all have the temptation to do that, of course. Wearing every hat can save you money. However, it’ll cost you precious time.

Why You Shouldn’t Try to Do everything

You might have many skills. Perhaps you’re a great innovator with excellent communication skills. Maybe you’ve dabbled in accounting and flirted with marketing.

No matter how good you are, you’re not equally good at everything. If you try to do the things you’re not so good at, you might end up settling for a less-than-perfect result.

Many entrepreneurs try to do everything at first. However, once you’ve established your business and product, it’s a good idea to branch out and get some help.

Not only can you better focus on the things that only YOU can do, but you’ll also be able to live a well-balanced and prolific life – and that’s a key to a purposeful lifestyle.

Tips for Building a Team

The idea of building a team can be an intimidating one, mainly if you think that you need to hire people and deal with taxes and insurance.

The good news is that you don’t need to do those things unless you want to. Lots of companies outsource tasks as needed without hiring full-time or even part-time people.

The first step is deciding who you need on your team. Are you struggling to keep up with social media? It could be a good idea to outsource it to a professional. Perhaps you need an accountant to pay your bills. Maybe you need human resources services.

You may decide to hire someone full time. Keep in mind, though, that there are plenty of tasks you can outsource to freelancers. Using sites like Upwork makes it easy to find virtual assistants and team members.

The Importance of Delegation

How do you know what to do yourself and what to delegate? Delegation is an essential skill. You know you can’t do everything, but it can be challenging to let go of the things you’re accustomed to doing even when you have help.

Here are four questions to help you find out how and what to delegate. About each task, ask:

Can I coach someone else to do it?
Is there anything that I’m unqualified to teach?
Is my input needed?
Is there someone on my team who can learn how to do it?

Unless the task requires your input and skills, it should be open to delegate. Yes, you’ll need to spend some time training your staff or freelancers to do the task to your standards. You’ll probably end up fielding a few questions and possibly, correcting a few mistakes.

There’s nothing wrong with you keeping critical tasks to yourself, but your goal should be to maximize efficiency while also prioritizing accurately.

Taking an inventory of your team’s skills is a good idea. They might have abilities you don’t even know about yet!

Top 5 Habits Of A Successful Entrepreneur

Final Word

The five steps outlined here are ones you can use to travel the road to success. Keep in mind that you’ll need to:

Reframe negative thoughts and talk to yourself as you would a friend
Avoid negative people and naysayers
Test your ideas thoroughly before launching new products
Prepare for failure
Learn from your mistakes whenever possible
Stay focused on your clients and their demands
Get the help you need to reach your goals

Much success is believing in yourself and getting the support (both from yourself and others) to reach your goals.

If you can sustain a positive mindset, be systematic about your planning, and be consistent in your efforts, you’ll have all the success you deserve.

Now go and kick some digital asses.

Your biggest Fan!
Fred

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