5 Habits of Successful Entrepreneurs: By Irke Olaniyi
Entrepreneurship is often described as the ability to take risk and venture into new territories. Yet only a people can truly be referred to as successful entrepreneurs. The difference lies in their habits. The world is full of dreamers. Many people have ideas of what they would like to do and achieve. There are many dreamers, but few entrepreneurs. Someone once said the richest place is the graveyard. There lies schools that were never built, songs that were never sung, music that was never composed, and potentials that were never fulfilled. Here I examined five habits that differentiate a success entrepreneur from a mere dreamer.
- Successful entrepreneurs are doers
The difference between a dreamer and successful entrepreneur is the ability to take action. Many people have great ideas but talk themselves out of them. They convince themselves why the dreams cannot be achieved. The fear of failure is the reason most people don’t venture out. Successful entrepreneurs are daring. Against all odds they are not afraid to stand alone. Procrastination is the bane of most dreamers. Many lives will be subsumed in regrets of what “could-have” and “would-have” been. There is never a better time to take action. The history of the world can be summarised in booms and bursts; prosperity and authority; and abundance and scarcity. There is no day like today. There is no perfect opportunity like now. On his inauguration as the President of United State of America, J. F. Kennedy said, “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.”
It’s time to put procrastination aside. Start by taking small steps and your success will be guaranteed.
- Successful entrepreneurs never stop learning
The enemy of best is better! When you stop growing, you start dying. Successful entrepreneur are hungry for learning. They have an insatiable appetite for growth. They keep growing and learning! They hunger for new knowledge on business and marketing strategies. A study of successful entrepreneurs shows they set aside a budget and time for growth and development. They are constantly reading, attending seminars, listening to audio programmes and many have coaches. Benjamin Franklin said, “Some people die at 25 and aren’t buried until 75” because they stop growing. What was the last book you read? Do you have a growth plan? Do you have a budget for growth? Where and how are you planning to grow over the next 12 months?
- Successful entrepreneurs have big risk appetite
Failure is a fact of life. You will fail many times before you succeed. Many people we reference as successful people failed several times. Successful entrepreneurs have a big risk appetite. They are not afraid to fail. The Legendary Babe Ruth had only 30% strike-out rate. Someone once asked Michael Jordan why he was so successful, he replied “I have missed more than 9,000 shots in my career. I have lost almost 300 games. On 26 occasions, I have been entrusted to take the game winning shot, and I missed. I have failed over and over and over again in my life. And that is why I succeed.” The real failure is the individual who is unwilling to step out. Let your setback become your setting stone. Reach out and try again, your next attempt may be the winning shot that will resound around the world. What did you learn from your last failure?
- Successful entrepreneurs have the ability to connect with the right people
John Maxwell said, “One is too small to make a difference.” It doesn’t matter how super-talented and brilliant you are, you need to collaborate with someone to succeed. Successful entrepreneurs have incredible ability and zest to connect people in the same stream. The phrase birds of a feather flock together is very true. Seth Godin, spoke of leading a “Tribe.” Someone is responsible for your success. The most successful entrepreneurs have learnt the secret of leverage. Nothing exists in isolation. There is interconnectedness with everything in the universe. Your ability to network is crucial to winning. The ability to relate well is one the greatest skills you can acquire. Who you know matters as well as what you know! Ultimately the people around you will determine the level of your success.
- Successful entrepreneurs are hard workers
There is no substitute for hard work. Diligence pays! Successful entrepreneurs are grafters. They are not scared of burning the candle at both ends. Often they are found in the trenches of life digging away while others are busy sleeping and watching soaps and sitcoms. While many dreamers are dreaming, successful entrepreneurs often leave their cave to hunt and return with trophies. Can you back your dream with the work required? Can you walk the talk? It’s easy to dream but like King Solomon said, diligence will bring you before kings.
Irke Olaniyi is an educator, entrepreneur, coach and author. Over the past 20 years, Irke has helped thousands of groups and individuals to become effective through training and coaching programmes. You can connect with Irke at www.irkeolaniyi.com