Business & Executive

Six Habits to Steal from Successful Entrepreneurs

By Rohit Shelatkar | Jul 28, 2021
Rohit Shelatkar | ACHNET

Taking calculative risks and exploring opportunities helps in analysing the capabilities and refine them as needed

Success can often seem like an elusive concept but notable entrepreneurs have proved time and again that it is indeed achievable. Everyone paves their own way to this achievement and these victories always are an account for new learnings. Their stories help create a roadmap for aspirants to follow, to find habits to inculcate, and to create their own empires.

To make sure you have a well-defined strategically paced plan, here are the six most common, dependable, and bankable habits from which any successful entrepreneur will benefit:

Take More Calculative Risks:

The old saying, “Fortune favours the bold” is not a statement to be taken lightly. In business, taking a risk is parallel to exploring an opportunity and the odds of it working out can lead to a bountiful yield. Better still, when initiating a business venture, every failure is learning in itself as it shows the pitfalls and also enlightens on how to avoid them. You never know what you’re capable of until you face the situation in actuality. Taking calculative risks and exploring opportunities helps in analysing the capabilities and refine them as needed. No entrepreneur has reached the pinnacle of success without taking risks, which is why this is an extremely important habit.

Discipline and Routine; Not Just Talent and Genius:

While talent and intellect are important, they can only take the business certain steps ahead. Innovation and cutting-edge practices will attract others to your venture but you cannot sustain it for long if relying solely on these practices. Becoming goal-oriented is a habit most entrepreneurs hold in high regard and it is all about practice. A daily action plan – detailed, organised and fully prepared for execution – and review it to see what works for the business and what doesn’t. Setting these practices in routine not only helps in streamlining the processes but also in identifying new trends based on changes and abnormalities.

Strong Team:

The key to progression resides in the people who surround you, more specifically the right people. Over the last 15 years of working in the industry, the major learning point has been that it is of utmost importance to have a strong team to provide aid and support the vision incorporated. You will only ever be as good as your team.

Network, Network, Network:

The potential of networking is a major factor for successful business generation. Being social and building contacts will help in the following ways:

  • It will introduce you to people who can mentor you through the first few rough-and-tumble years and look out for you
  • It will help you make your brand known, building interest in the same, and boost your image
  • It will not just help you find possible allies and partners but also show you who your competitors are and what they are doing.
  • Curiosity ‘Skilled’ the Cat:

    The initial spark of enthusiasm and high-spiritedness will fade out after a while, lost in a sea of routine, leaving room for monotony and boredom to set in. This is the ultimate killer of success. Hence, every necessary action to avoid this stage should be initiated. The best way to prevent this is by being open and curious about everything in the field of work. Curiosity constantly keeps an entrepreneur on his / her toes. Questioning everything results in getting ideas for innovations and helps in planning the next steps. Being consistently progressive and curious, there is no risk of having their creative reserves drained.

    Self-care is the Best Care:

    It is extremely easy for entrepreneurs to get immersed in their work and fall into the trap of disassociation – where they are unable to distinguish themselves from their work. You should always take time out for yourself, however little it may be. Invest it in the hobbies and things which interest you, it will help to relax and act as a motivating factor. It is easy to get drained out while running a business and thus taking some time out for yourself will ensure you do not burn out.

    This article originally appeared here.