Key habits of successful entrepreneurs: Learn what it takes to thrive in business

January 23, 2023

Being a successful entrepreneur takes more than just a good idea and a bit of luck, it takes hard work, perseverance, and a set of key habits that are essential for achieving success in the competitive world of business.

Do you want to be a successful entrepreneur? Then take a look at some of the habits that you could implement this year.

TAKE CALCULATED RISKS
Successful entrepreneurs understand that risk is a necessary part of doing business and recognize the importance of failure in business.

They are not afraid to take calculated risks to achieve their goals. They weigh the potential risks and rewards and make informed decisions, rather than being paralyzed by fear of failure.

If you are not failing, then you are not pushing yourself hard enough.

BUILD STRONG NETWORKS
To do this, you’ll need to be a good communicator in order to effectively communicate your vision and ideas to others. Successful entrepreneurs are able to build relationships and inspire others to join them on their journey.

You could start early by building your network while at college or university or attend the network events hosted by the Cape Chamber to build powerful relationships that could help grow your business, expand your reach and improve your chances of success.

BE A LIFELONG LEARNER
Successful entrepreneurs are always learning, growing, and seeking out new knowledge and skills to help them stay ahead in the game. They are curious and open to new ideas and are willing to try new things.

This could mean reading more, listening to podcasts like Chamber Talks where we chatted with David du Toit from Dragonfly, or watching YouTube videos similar to our Video Marketing series to improve your skills.

Find a time during your day, be it during lunch or before you go to bed and continue to up your game.

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SET CLEAR & MEASURABLE GOALS
This one may seem obvious and basic, but remember that you’ll always be limited or lifted by the goals you set.

Successful entrepreneurs know what they want to achieve and set specific, measurable, and time-bound goals to get there.

They also regularly review their progress and make adjustments as needed to stay on track.

LOOK AFTER YOUR HEALTH
This is the most valuable habit of them all so do not underestimate the impact of keeping a healthy, balanced lifestyle.

Successful entrepreneurs are only able to operate at peak performance if they get quality hours of sleep and get some type of exercise into their daily routines.

The idea behind exercising is not just to look good, but more to foster a strong, clear and fresh mind.

At the same time, sleep also influences how you feel, how you look, and your decision-making abilities.

PODCAST: Listen to the full interview with David du Toit