The Lifestyle of Successful Entrepreneurs & How You Can Adapt Their Strategies
| 5 minutes read
Lifestyle of Successful Entrepreneurs
No entrepreneur has become successful by sitting in a corner and waiting for their chance to come. They always have a plan and take action accordingly. It merely means, different people plan things differently, but having a plan is a common factor amongst all successful people.
Today, for a dose of inspiration, there are a plethora of sources, including books and motivational quotes. Still, we think learning from real-life success stories can help us understand how successful people think, act, and make their decisions. Therefore, to give you a brief, we have done our research and have found a few successful entrepreneurs who have turned the table with their strategies and decision-making skills.
Also, to make it even more interesting, we have researched and decided to share the most important lesson they learned during their entrepreneurial journey. We have some innovative insights, which are worth considering.
Improve Your Sleep Routine
Not all of us love to wake up early, especially before the sunrise. But most of the successful entrepreneurs have a habit of rising early. Waking up earlier gives you more time in the morning to be mindful, also gives an additional time to prepare a schedule for the day, exercise, or do whatever else you need to accomplish. Did you know? Apple CEO Tim Cook, wakes up at 3:45 a.m. daily? Yet, he still manages to get around seven hours of sleep by going to bed around 8:30 p.m. This practice makes him more productive, and by 8 am he is ready to start his day and also gets extra time to put into other projects.
Likewise, if you want to be a successful entrepreneur, this is the first step you have to follow, a habit of rising early will allow you to think more clearly and you also get time to plan strategies with a fresh mind.
2. Be Creative But Don’t Hesitate to Take Risks
If you’re an entrepreneur of a startup, remember, you don’t have anything to lose but so much to achieve. For small businesses, creativity is their lifeline and you get a free license to give your best shot. However, if you fail, even that acts as an extra advantage in the world of startups. Don’t try to copy your competitors, be innovative, but pay attention to them. Always think and analyze how others are doing it, and then check where you are going wrong.
An American businessman Bill Campbell once said, “if companies don’t continue to innovate, they’re going to dieーand I didn’t say iterate, I said innovate.” At the initial stage, founders should not think much about loss or risk because, without risk, there is no reward.
“A ship in port is safe, but that’s not what ships are built for,” innovative computer scientist Grace Hopper said. Successful entrepreneurs become trendsetters not only by inventing path-breaking products but also by pioneering methods that optimize the way pre-existing products work.
3. Hold Your Personality
In the corporate world, does it matter whether you’re an introvert or an extrovert? The answer is no. According to various success stories, anybody can be successful.
Let’s take an example of two different personalities of entrepreneurs, Apple co-founders Steve Jobs and Steve Wozniak. Wozniak is a self-proclaimed introvert. But, through their partnership, they were able to coordinate their skill sets to produce an incredibly successful company.
Introvert and extrovert personalities process things differently with full force that brings their strengths to the entrepreneurial table. A partnership or collaboration between different personality types in the workplace can help produce optimal end products. These people can take advantage of their resourcefulness and innovation to thrive in the business world.
4. Learn from Success and Failure
Success and failure are two sides of a coin. Many successful entrepreneurs fail during the initial stage. Now, let’s take an example of Alibaba founder Jack Ma. In 2003, Alibaba initially failed because a majority in the company was against Jack Ma’s vision. Furthermore, he faced bankruptcy within eighteen months. Through his mistakes, he learned and became the biggest rival of eBay within five years. His success story proves that every new entrepreneur should learn from the mistakes they make, or in case of success, they should always think about how they can improve to increase their productivity.
5. Have An Unshakeable Work Ethic
Elon Musk, the CEO of SpaceX and Tesla, is said to have a work ethic that is impossible to follow. He is continuously working, giving a whopping 100 hours a week for the last 15 years. Using the time blocking method, Musk intentionally plans his day out in five-minute increments or ‘time blocks.’ Each time block is assigned with a specific task or activity. For example, Musk could use the time blocking method when responding to overdue emails, eating meals, or timing work meetings. Musk says, “There are way easier places to work, but nobody ever changed the world on 40 hours a week.”
We are not saying an entrepreneur should work for 100 hours a week unless, like Musk, that’s what excites you. But all you need is focus and determination to get things done on-time. In short, it’s about keeping your priorities straight and implementing ideas that’ll propel your company forward.
6. Say Yes to Learning
This is simple as it looks. Learning is a process that never ends and it improves you with time. You should try to get better with each passing day and learning helps you do that. Even Bill Gates believes that a person should never stop learning. If he stops, it means it is the end of his world. He further said that he never wants to stop learning.
Knowledge and learning is something that never ends, it continues along with you in every phase in your life–learning process improves your thought and personality. The way every mistake teaches you something, in the same way, learning improves your vision and mission of your life.
Startup business is like a game, where you have to be on top by being aware of the latest happenings and trends in your industry. At the same time, you must constantly add new skills to your arsenal and use them for the betterment of your startup.
7. Pursue Some Hobbies
A majority of successful entrepreneurs also pursue unusual hobbies as it keeps them on top of their game. The former CEO of Yahoo and businesswoman Marissa Mayer, says, “My hobbies make me better at work. They help me come up with new and innovative ways of looking at things.” Some entrepreneurs including Google CEO Sundar Pichai, like to go out at weekends and spend time with his family. Whereas, some entrepreneurs like to read a book in their free time. It is not only about chilling out in free time, it’s all about your mind relaxation, what are the things you would like to do or activities to keep yourself calm and relax. So, the bottom line is, hobbies will make you better at work and it will also help improve your decision-making abilities in no time.
The entrepreneurial lifestyle isn’t for everyone. It takes determination and a never-ending drive to maintain a lifestyle of chasing dreams, working hard, and pushing boundaries to make them a reality. Whether it’s an outline of objectives or an additional creative session with your teammates, there is always a way to push the boundaries.
Taking a leap of faith into the entrepreneurial world is a challenge, but it can ultimately reap the dividends of a dream coming true.