It’s no wonder that most of the wealthiest people in the world are entrepreneurs. According to Forbes, “out of 2,838 billionaires counted worldwide, 63% are self-made.” (source) This clearly shows that hard work, success habits and determination can really pay off.
Well-established businessmen such as Mark Zuckerberg and Warren Buffett have learnt through experience what works best for them and what doesn’t. Want to become like them? In this blog, you will see the success habits that self-made entrepreneurs learnt on their journey to becoming billionaires.
9 Powerful Routines That Turned Entrepreneurs into Today’s Billionaires
1. Make Reading a Daily Habit
Do you know that one habit every successful businessman has in common? It’s reading. Yes, entrepreneurs have to spend so much time reading to achieve growth. That is, the more successful they become, the more time they spend reading. As an entrepreneur, follow reading as a daily habit and make time for it either before bed or in the morning.
For example, Bill Gates had once credited reading as the main reason for his success. He read about 50 books a year.
2. Prioritise Quality Sleep
What’s one good habit every entrepreneur avoids that affects their growth? It’s not prioritising quality sleep. Yes, sleep is an important factor in achieving success. Not getting proper rest can affect your mood, health and even the ability to think and make good decisions.
As an entrepreneur, make some time for good sleep to improve performance and energy levels. This means before spending money on luxury, make sure you are getting enough sleep.
Most successful entrepreneurs are early birds, and they sleep early too. Many others think and work better at night and sleep during the day. Understand what time works best for you and follow a consistent sleep routine.
For example, Jeff Bezos believes getting 8 hours of sleep daily improves his productivity and helps him make high-quality decisions.
3. Manage Money Wisely
Did you know that successful entrepreneurs have good money management skills? This is why they never run out of funds, even when the business starts going. Yes, they know how to make the cash flow balanced.
Managing money wisely doesn’t mean being a miser or wasting money. As an entrepreneur, learn where and how to spend cash that helps reach goals. Most of the successful entrepreneurs seen today lead a simple life by staying in normal houses or Airbnbs or camper vans.
For example, Warren Buffett leads a simple lifestyle by living in the same house in Omaha, Nebraska, which he bought in 1958 for $31,500
4. Stay Physically Fit
Staying physically fit doesn’t mean entrepreneurs need to develop a gym body. It just means to be healthy and active.
As an entrepreneur, make time for workouts to develop a strong body and mind to succeed in business. From light exercise and yoga to heavy cardio, choose the best exercise that suits you. Even a short walk and spending time outdoors can make a big difference.
For example, Richard Branson wakes up at 5am daily to start his workout. He believes exercises such as running and cycling boost his focus and creativity.
5. Learn When to Pause & Recharge
It’s normal to feel burnout in any job, even as an entrepreneur. To achieve success, it’s mandatory to make some time for rest and relaxation every week.
For example, Arianna Huffington used to feel burnout early in her business career and even collapsed from sleep deprivation, breaking her cheekbone. Later, she learnt to prioritise her wellbeing by taking time to pause and recharge.
6. Set Clear & Achievable Goals
It’s the business goals that determine an entrepreneur’s success. Yes, setting unrealistic and unclear goals hinders the business’s growth, while bigger and more ambitious goals can help businesses reach better heights. As an entrepreneur, ask yourself, are you building a small business or aiming to create something much bigger?
For example, Elon Musk began with small ventures such as Zip2 and X.com (Paypal) and later set ambitious goals with Tesla and SpaceX, which changed his life.
7. Focus on High-Value Tasks
Every person has the same 24 hours in a day. How can entrepreneurs make a difference? Successful entrepreneurs ignore minor tasks and spend most time on tasks with higher value. They keep in touch with their team and avoid unnecessary tasks that won’t help their business grow.
For example, Oprah Winfrey delegates tasks effectively to her team, so she can focus on high-priority tasks and projects that need her attention.
8. Build Strong Networks
Most of the successful entrepreneurs seen today have either graduated from top universities or earlier worked in famous companies such as Apple or Microsoft. To grow in a business, an entrepreneur needs to grow their network.
In most cases, having powerful connections is much more important than having the right knowledge and skills when it comes to funding and achieving success.
For example, Mark Zuckerberg once stated that building professional networks while growing Facebook played a major role in the company’s success.
9. Learns From Failure
Everyone fails at some point in their lives, and failures are just part of people’s lives. Entrepreneurs need to push themselves hard to experience failures. Why? Because when they don’t fail, it means they aren’t doing enough for growth. Successful businessmen set bigger goals and failed many times till they reached the billionaire position.
Apologising to customers or facing rejection are common and sometimes stepping stones to success. These experiences help you learn and improve and make you a billionaire in the future.
For example, Sara Blakely never gave up, though she faced major rejections before launching her product Spanx
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Conclusion
Successful entrepreneurs didn’t achieve success overnight. They followed the 9 success habits discussed in the blog that helped them become today’s billionaires. From maintaining consistent routines and prioritising quality sleep to taking time to relax, focusing on core areas and building networks, you can grow too, like them.
Want everyone to know about your business? Follow the success habits discussed in the blog and start growing today!
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