As an entrepreneur, you are responsible for shaping your
business success. Any habits that
sabotage your success in your personal life can often carry over to your
business. Becoming aware of these
is the first step to success.
Here are seven success-boosting habits to double-check
against your own.
1.
Being
able to say “No.”
Do you say “yes” to too many things that don’t serve your
life purpose, help your family, or move your business forward? If so, you’re not alone. Saying “yes” in a weak moment when you
feel like you can do it all can be a downfall for many entrepreneurs. It can also distract you from success
if you are not working on the right things for you.
You may need to re-evaluate the value of your time and your
priorities. Practice making smart
decisions by having a structure and a higher purpose that helps you decide what
you should and shouldn’t do with your time, money, and life. And if you tend to be one of
those who says “yes” to everything, you may need to practice saying “no” in
front of the mirror to break your habit.
2.
Hiring
fast and early.
The best time to hire is just before you need your new team
member. It can be easy to put off
hiring if you fill with dread when you think about large stacks of resumes and
endless phone calls. Not hiring
soon enough can cost your business in reduced service and sales. The smartest entrepreneurs stay ahead
of the game in this area.
3.
Strategizing
proactively.
How much time do you spend in reactive mode versus proactive
mode in your business? Reactive
mode includes answering emails, fighting fires, serving clients, and managing
employees. Proactive mode includes
developing new products and services, creating and implementing your revenue
plan, and training employees.
Sometimes we have to really push ourselves to look beyond
the daily fires. One way to do
that is to plan time every day for proactive activities and be ruthless about
keeping that time slot on the calendar.
4.
Setting tight scope and
polite boundaries with customers.
Successful entrepreneurs set clear boundaries
when it comes to delivering their products and services to customers. Especially in service companies, it’s
not always clear to the client what’s included in a fixed fee contract unless
it’s clearly spelled out.
If you are asked to do something that’s not
included in the contract, you now have a choice. Do you give it away for free, or do you have a change order
process where you can easily provide an estimate for that extra work?
5.
Measuring results.
Only
what can be measured can be improved, and smart entrepreneurs know this. Track -- in real time, not a year later
-- what’s important to you. New
customers, new leads, closed sales, revenue per day, sales per day, monthly net
income, certain costs, profit margins, profit per customer, profit per job, and
profit per location are just a few of the many metrics you can choose to track
for your business.
Once
you measure it, you can now set goals to improve it.
6.
Curbing
irrational spending.
Invest
in things that will last, such as your own education, great systems, team
training, and assets that you really need. Avoid spending on items that are used up quickly, such as
elaborate entertainment expenses that don’t generate significant revenue,
excessive utilities, and stopgap equipment.
This
area can be a tough one to evaluate objectively because there can be emotion and
attachment involved in the spending.
Let us know if you need help in this area; we can help you look at your
spending with fresh eyes and provide a new perspective.
7.
Maintaining
focus.
Great
entrepreneurs have clear focus. If
you have too many projects going on at once, you end up delaying all of your
project completion dates, and nothing gets finished. Ask yourself,
what’s the most important thing I can do today? And work on that until it’s done. Then ask yourself the same question again, and wash, rinse,
repeat your way to success.
Seven Habits
Which
of the seven habits are you best at? Celebrate your natural gifts while keeping an eye on
the habits you need to work on.
That will move you to the success you deserve.
