What are the top 5 habits of a highly successful entrepreneur?
When you talk about very successful entrepreneurs, I imagine you mean people like Elon Musk, Steve Jobs, Bill Gates, or Jeff Bezos.
Everyone is interested in knowing the secrets that have allowed these entrepreneurs to achieve incredible things in their lives. I myself have more than given in to this fad, and I frequently read biographies of these great entrepreneurs.
More than the successes of these great entrepreneurs, it’s discovering how they were able to go from failure to failure and improve each time by adapting that interests me. This has allowed me, over time, to understand that failure must be considered as a springboard to success in life.
To overcome life’s various trials and tribulations while getting a little closer to success each time, these famous personalities had to develop several powerful habits that separated them from the rest of the population.
In what follows, I will detail the five habits that come up most frequently and that should enable you to make a difference in your life as well if you apply them to the letter.
1. Reading a lot
People who are part of the 1% club read a lot. Whether it’s books, newspapers, or articles, successful people have understood that reading is the key to making a difference throughout their lives.
The world is changing, and you can’t expect your current knowledge to be sufficient in 10, 20, or 30 years.
We have entered the age of knowledge. Those who can constantly increase their knowledge throughout their lives will achieve great things. Those who refuse to do so will never be able to evolve.
Warren Buffett explains that he reads up to 500 pages every day. Without going that far, you should at least aim to improve by 1% every day.
It’s an ambitious goal, but if you achieve it, it will make a phenomenal difference in the long run. You will apply the magic of compound interest to your knowledge and skills.
2. Setting ambitious goals and stick to them
We are in June 1982 near Miami. A young American student who graduated at the top of his class was going to give the graduation speech at his high school in front of 680 people.
During his speech, this brilliant student explains his goals for the future:
″I want to build space hotels, amusement parks, yachts and colonies for two or three million people orbiting around the earth. The whole idea is to preserve the earth. The final objective is to get all people off the earth and see it turned into a huge national park.”
- Jeff Bezos
The Herald, a small local newspaper, echoes this speech, stating that this ambitious young man has somewhat whimsical ambitions.
Far from feeling discouraged, our young student decides to stick to his goals. Just because society cannot see big enough does not mean that he should reduce his ambitions.
The rest of his life will serve to bring him closer to conquering that goal. In 1994, this man created Amazon. You will have recognized that I am talking about Jeff Bezos. He made a fortune with his startup.
Having become a billionaire, Jeff Bezos launches Blue Origin, which aims to enable him to achieve his lifelong goal: to colonize space. Today, nobody thinks that Jeff Bezos is a little too whimsical anymore. Everyone thinks he is capable of achieving his goal.
This example is typical of the habit that separates the 1% from the rest of the population: they set their own ambitious goals without taking into account society’s opinion, and they stick to them no matter what.
3. Living below their means
In the summer of 2020, Jeff Bezos’ estimated fortune exceeded $200 billion. That of Elon Musk is irretrievably approaching $100 billion. Warren Buffett remains in a strong position among the world’s richest people with $80 billion in personal wealth.
With so much money, you have to imagine that these people spend on superficial things like luxury cars, luxury watches, and own many extraordinary houses.
I’m going to disappoint you, but these highly successful people lead lives far beyond their means. Of course, their homes are sumptuous. Nevertheless, given their fortunes, they could aim for even more extravagant things.
This is not the case. They prefer to use their money to develop their projects. Elon Musk thus reinvests the majority of his money in his many startup projects. Jeff Bezos does the same with Blue Origin.
4. Setting priorities
I don’t know if you’ve ever experienced this, but when you want to succeed in life, you sometimes tend to spread yourself too thinly in too many areas. This is detrimental to your effectiveness, and in the end, you will not succeed anywhere.
Great entrepreneurs know perfectly well how to set priorities to move forward on projects that are essential to them at a given moment.
5. Always having fresh ideas to explore
Many people think that money is a purpose in life. Becoming rich is the dream of an incredible number of people. However, once they become rich, successful entrepreneurs continue to work as hard as before.
This shows you that money is not the primary driver of the 1%.
The 1% differs from the rest of the population by the fact that they always seek to bring more value to a significant number of people. To do so, they always have new and innovative ideas to explore.
The highly successful people who are the stuff of dreams are what I often call the 1% club. One could even go so far as to say that they are in the 0.1% club. Nevertheless, the idea remains the same no matter what percentage is used to name that particular club.
It is made up of people who have powerful habits that allow them to differentiate themselves from the rest of the population. Applied to a lifetime, it makes a phenomenal difference by giving examples of success stories like Jeff Bezos or Elon Musk.
Originally published at https://samplif.blogspot.com on December 3, 2020.