5 Not So Obvious Habits of Successful Entrepreneurs

Usually, advice is a well-intended opinion, optimism, and belief; most times it’s subjective and idealistic. However, what are you more inclined to listen and follow? The advice that someone gives you, or what you observe them doing successfully?

There is no better teacher other than the power of example. Is it not?

Yes, we want to believe that we are creative and resourceful; yet, most times is better to use the wheel that already exists and add to it your sparkle rather than spending a lot of time on inventing a new one.

Here are 5 not so obvious habits of successful entrepreneurs to play with, add to, and remodel to your circumstances:

Habit #1. Acknowledge when things are not working

Once you have invested your time, energy, passion, and resources in something, it might feel utterly absurd to stop no matter what happens.

Successful entrepreneurs acknowledge when something is not working and either readjust their course, either give up on it entirely. A money pit is a money pit no matter what you do. Right?

Next time when you hear: “don’t ever give up” take a moment to think about what that (actually) means and how applies to your current situation. Does it mean no to give up on your dream? Does it mean not to give up on a wrong idea? Does it mean to keep on struggling to make something work even though the odds are against it? What does it mean?

Separate things that are working from those that don’t. Keep on doing what works but acknowledge and give up on those that don’t no matter how much time, dedication, and effort you have put into them and, simply, move on. The time lost, is lost already, you can’t do anything about that, but you can do something about the time you still have left.

When you feel stuck on an idea that you notice is not working, put the pessimist in you to work: “I tried twenty times in twenty different ways. Is there anything left to do? Or is it better to move on?”

Habit #2. Allow yourself and others to change

Change is the natural progression of things and who is telling you that “people don’t change” is lying, unintentionally or not.

• Aren’t you different (changed) today compared to how you were ten years ago?
• Haven’t you outgrown many beliefs you had? I guess you don’t believe that Santa Claus is coming down through your chimney with gifts.
• Haven’t your priorities, ideas, friends, habits, pleasures in life, and goals changed and aren’t they changing from time to time? Inevitably, no matter what is changing in your life, changes you as well.

Allow yourself and others to change. Don’t keep yourself hostage on how you were in the past.

My husband was a football fan for most of his childhood, but now he’s not interested in it at all. Yet, every time we get together with old friends they are asking: “Who’s your favorite team this year?” “I don’t have one. I don’t watch football anymore.” “No! Come one, tell us.” “Really! I don’t have one. I don’t watch football anymore.” “Nah, you do, but you don’t want to tell us.”

I can’t tell you how many times I’ve heard that conversation for the past 12 years and each time it happens, our friends are looking at my husband in disbelief and shocked as if is for the first time they hear it.

That is an innocent and harmless example of how people don’t want to allow you to change. But imagine, for instance, being a homeless person for a few years and then getting back up again and being successful in life and, yet, most people around you to see you as being nothing more than a homeless person and treating you as such.

As an entrepreneur, the people that you need the most to allow to change are your employees and business partners because, ultimately, you have a lot to gain.

Habit #3. Build assets, not liabilities

Your employees, for example, are assets not friends and when that boundary is crossed, they might quickly become a liability.

Another example, buying a holiday property that doesn’t bring you income is a liability; it is something that you need to maintain, take care of, keep safe, and pay taxes on it. If you have the financial means to own it, and it gives you pleasure in life, beautiful; but don’t lie to yourself that is an asset.

No matter what you own and takes resources, time, energy, and money from you without giving you something of equal or greater value in return, it is a liability.

Any added liability drags your business down, and every asset is pulling it up.

Habit #4. Be aware of your limitations and use your strengths

Hypothetical maybes:

• You don’t have talent for music, but you know how to relate to others
• You don’t like the marketing part of your business, but you are excellent at the practical side of things
• You can’t run 100 meters, but you can walk for miles and miles

March forward with your strengths and know that whatever limitations you have, you are compensating for them with other things.

Habit #5. Leave your vanity aside

Follow your purpose and pay attention that growing your status and prestige are more important than feeling better compared to others.

Author: Carmen Jacob is the creator of several self-improvement guides which focus on using what you already have to improve your life and the life of those around you. She provides knowledge so that you can recognize your opportunities and chances and take advantage of them in an ethical and constructive way.

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