When people think of Benjamin Franklin, Thomas Edison and Bill Gates, they most often associate them with wealth, success and innovation. Their ideas changed the world.
But they have something in common with each other – and with most other successful entrepreneurs: A set of small habits that, followed every day, add up to victory, no matter the arena. As Warren Buffett, perhaps the most admired entrepreneur of our time, says: “Wishing makes dreams come true only in Disney movies; it’s poison in business.”
With that in mind, here’s a list of 50 habits that entrepreneurs have cited as the basic building blocks of their success:
At work
1. Know how to manage money (what you spend and what you make).
2. Don’t be afraid to ask people to buy your product.
3. Don’t be ashamed to self-promote.
4. Keep up with the latest technology. It’s up to you: Evolve or die.
5. Use social media to keep in touch with your customers.
6. Find something that differentiates you from your competitors.
7. Don’t be afraid to spend money. As they say, you’ve got to spend money to earn it.
8. Be accessible to your clients. They’re less likely to fire you if they know and trust that you’re always there for them.
9. Create a work environment conducive to success.
10. Learn to love organization. That doesn’t come naturally to some, but it’s necessary, and it can be learned.
11. Take regular (real) vacations. A break from the grind is necessary to regain perspective and broaden your horizons.
12. Build strong business and client relationships. (See No. 8 above.)
13. Have a mentor/sponsor. A mentor can help you continue to grow even after you’re successful.
14. Never lose track of your original goal. Write it down and refer to it regularly.
15. Write down your 5-year, 10-year and 20-year goals.
16. Know how to price your products/services. Conduct research and consult other businesses like your own in different markets.
17. Perfect your elevator pitch.
18. Have an accountability partner.
19. Start your day with the most difficult projects.
20. Hire a marketing firm. That allows you to focus on running your business without neglecting a critical ingredient to growth.
21. Conduct extensive market research. (See No. 16 above.)
22. Track your progress. Analytics can be intimidating, but all successful businesses are doing it these days.
At home
23. Spend the weekends with your friends and family. Work can wait. And, you’ll be better at work if you’re happy at home.
24. Keep a journal. Journaling is a method of gaining personal and professional insight through deep reflection.
25. Keep in shape.
26. Get enough sleep.
27. Start your day early. This might seem to conflict with tip 26, but not really. You need to go to bed earlier is all. Check out this list of early birds.
28. Read at least 15 minutes each day. Feed your brain.
29. Create a morning and evening routine.
30. Reserve downtime each day. Like family time, it’s important to leave yourself some time to relax and recharge.
In general
31. Know that first impressions really do count.
32. Establish yourself as a thought leader in your field.
33. Surround yourself with people who believe in your business.
34. Invest in yourself.
35. Learn to negotiate.
36. Become a public figure in your community. Volunteer for a leadership position. Get to know people in your community. It’s good for your soul.
37. Don’t try to do it all.
38. Never stop learning. Take up a musical instrument. Learn a new language. Be alive.
39. Be innovative.
40. Never get complacent.
41. View failure as a chance to try again.
42. Be able to motivate yourself.
43. Accept that not everyone will understand your vision.
44. Become resourceful.
45. Be optimistic.
46. Break the rules.
47. Network, network, network.
48. Don’t build your life around your business, build your business around your life.
49. Learn to handle criticism.
50. Don’t sacrifice happiness for money.
