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Traction Inc.

05 Feb 5 Habits of Highly Successful Entrepreneurs

Posted at 8:00:00 AM by Chris Hallberg

Entrepreneurship is exciting, and success comes with rewards that range from feelings of personal victory to small business coach advicelarge monetary payouts. The road to success for entrepreneurs can be stressful, frustrating, and, at times, overwhelming. Leaders deal with constant challenges and have to overcome those challenges--often in public settings--to model a positive process for those they are leading. This is true no matter where you are in the entrepreneurial operating system’s process or how big of an organization you lead. One way to combat common woes of leadership is to incorporate five habits of successful entrepreneurs.


Embrace Failure

Successful leaders don’t let failure sink them or the ship. Failure is simply the next stepping stone on the journey to success. Instead of harping on it, use it as a lesson: What went wrong? Why and how can it be prevented in the future? What can you or your team learn? When approached correctly, failure can be the catapult that launches you to success.


Identify Hidden Opportunities

Don’t go looking for problems. Instead, approach challenges and even seeming disasters from a positive perspective. What opportunity exists because of this challenge that might not have been there otherwise?


Block Time and Batch Tasks

Stop multi-tasking all of the time; when you do everything at once, you don’t really accomplish anything. You certainly don’t do anything well. Block your time for important tasks so that you can focus on the matter at hand and avoid distractions. Batch tasks so you can accomplish them one or two times each day instead of being distracted by them. Tim Ferriss, a successful entrepreneur, took this approach with email. He checks email twice a day – his system ensures he sees and handles important correspondence but keeps him from being tied down by email throughout the day.


Set Actionable Goals

Create goals so you have something to work for, but make sure they are actionable. What is the big goal? What smaller things do you have to do to get there? What actions accomplish those smaller things? If you have a team, involve them in the goal-setting process.

Track Progress

All these habits create little traction toward success if you don’t have a firm grasp on your business. Measuring success with numbers and reports is one way to ensure you are running the business and it’s not running you.

Amid the excitement and confusion of starting or managing a growing organization, it can be easy to lose track of these foundational habits. If you find yourself floundering, or you just want some guidance or accountability so you can be the best entrepreneur possible, a small business coach who helps you implement the EOS system can help you get back to basics and reach for the stars.


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Topics: Business Advice