What makes successful entrepreneurs successful? At its core, it’s the habits. The set of routines embedded so deeply in their lives that allowed them to improve their skills and knowledge further. It’s proof that business success isn’t achieved overnight, but in increments — through small, fragile steps. If you’re planning to start your own business soon, as early as now, embrace these habits of successful entrepreneurs:
People who have made it big in the industry dreamt big for their business. They are visionaries. They look to the future and they see opportunities. Just look at the legacy of Steve Jobs. Who would have thought in his time that a small device can single-handedly do what a telephone, a music player, a computer, and a game console do? He did. It’s important to have that same attitude of forward-thinking when starting a business.
Begin by observing trends in the industry you’re entering. Learn about its history and try to predict yourself where it’s headed to. Or, try another approach: envision what the world’s biggest problem would be years from now and take that as an opportunity to launch your business. The principle is to always look ahead.
Prioritizing the market
Successful entrepreneurs always have their audiences in their mind. For sure, you’ve heard about the radical change Howard Schultz did when he returned as CEO of Starbucks in 2008, at a time the company was going unstable due to the economic downturn. The organization solicited ideas from customers. They retrained their baristas. Schultz even asked people to email him directly for concerns. It paid off in the end, as their sales and stocks increased.
You need to have the same passion for your target market. Especially when you’re entering the competitive world of the foodservice industry. Listen intently to what your target customers are saying. Use surveys. Interview people. Perform social media listening. When exploring an opportunity, let’s say an ice cream franchise, ask for case studies and market research.
Risk taking is almost equal to entrepreneurship. You can’t be a step closer to success if you don’t make that first, uncertain step. You can’t even start anything in the business if you stay in your comfort zone. While risk takers may seem like daredevils who have no care about anything, risk-taking in business doesn’t mean embracing any opportunity haphazardly. You have to do it with care and strategy. This is what sets apart successful entrepreneurs from the rest.
As they’ve been taking risks all their life, they’ve learned how to master this gambling game. They know which opportunities are worth betting at and which should be avoided at all costs. It takes a while to be comfortable and smart at taking risks. What you can do for now is to learn as much as you can about the industry you’re getting into. Read books. Enroll in classes. Surround yourself with risk-taker entrepreneurs.
Again, successful entrepreneurs aren’t built overnight. They become who they are because of the good habits they’ve formed throughout the years. As early as now, adopt these entrepreneurial habits to boost your chances for business success.