We all admire a successful entrepreneur. We love those Rags to Riches stories. But most people think the only way they will become rich is by winning the lottery.

The 7 Habits of Successful Entrepreneurs 1

They see success as more luck than effort. This is why nearly seven billion pounds is spent buying lottery tickets each year in the UK. The odds of winning the jackpot in a lottery are 116,531,800 to one, according to research by Casinoroom.com.

Even those crazy odds do not prevent the average Brit spending £416 every year on scratch cards and lottery tickets.

All this is because the vast majority of people are not prepared to invest the time and effort required to be successful. They are not aware of the 7 Habits of  Successful Entrepreneurs”. It’s not rocket science or luck. You will find that most Entrepreneurs have the same habits regarding work ethics. Lets uncover 7 of the major ones.

Be confident in your field

No one will invest or purchase from someone they don’t trust to deliver.

Take the time to become an expert in your product or field. If you need to deliver a presentation, prepare well. Practice in front of colleagues and friends. Practice, practice, practice until you are word perfect. This will give you the confidence you need and remember “Fail to prepare, prepare to fail”.

Be Humble

Don’t show off your wealth however hard you worked to attain it. Warren Buffett, one of the richest men in the world still lives in the modest house he bought for $31,500 in 1958. Displays of wealth invite’s jealousy and envy. Of course enjoy the benefits that wealth can bring but be mindful of other peoples situations and predicaments.

Value and reward great employees

Or reward the best and replace the worst. It sounds so simple but it isn’t. We too easily take for granted the efforts of the few “salt of the earth” employees, people we turn to in times of need and put aside the difficult decision to actually sack an underperforming employee.

It is actually quite difficult to sack someone and if you get the procedure wrong then be prepared for the “see you in court” situation. Not only does a poor employees cost the company money they also have a negative effect on the rest of the staff. Your prize employees should be publically supported, recognized for their achievements, trusted and asked for their opinions and listened to.

“The manager of the future will know how to ask rather than how to tell.”

Minimize low impact decision making

Steve Jobs famously always wore a black turtle neck with jeans, Mark Zuckerberg similarly a grey t-shirt, hoody and jeans. These are not fashion statements. They convert all the time wasting wondering what to wear to useful productive time.

Since I have been building ZZap into the UK’s foremost handling company I have been eating the same menu each day. This saves time cooking, preparing, purchasing and thinking about what to eat. Don’t waste your valuable time thinking about the mundane. Simplify and delegate.

Embrace Obstacles 

“Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome.”  Booker T. Washington

The first step is to validate the problem. Avoidance and denial will never remove a problem. Don’t be surprised, prepare for the unexpected and learn to be more adaptable for those unexpected challenges. Surround yourself with the right people, you may find someone who has already dealt with this problem before.

There are few guarantees in life. But one thing that we know we are guaranteed to experience is the need to overcome obstacles. The question is not if you will face adversity and obstacles. The question is when will you face adversity, and which one will you deal with today!

Customers Opinion Counts

With the advent of eBay and Amazon we are now used to having to deal with feedback. Although managing feedback can be time consuming, it is money well spent. At ZZap our aim has always been 100% positive customer feedback. This can be difficult to achieve, even when you have been faultless. Customer feedback is the life blood of our online presence at www.zzap.com. Take time to analyze your feedback, constructive criticism is worth its weight in gold. Be sure to thank anyone who as gone to the trouble of contacting you, no matter how negative that correspondence has been. Try and put yourself in their shoes.

We are driven by our personal experience this can help us ignore the evidence presented by others’ experiences. All our decisions are based on our beliefs, knowledge, and real or imagined experience. This can prevent us from recognizing the deficiencies in our plans as entrepreneurs.

Don’t be afraid to change direction

There will be times when you need to take a rain check. Difficult as it may seem you need to learn to admit you were wrong. We are programmed to work tirelessly to achieve our goal sometimes we miss the obvious.

When you start a company, you have to show that you have complete confidence in your idea. That confidence is what helps you attract talent, investment, and clients.

When you change direction, investors, staff, and clients may question the move and show concern. It’s an understandable reaction, but one that entrepreneurs must be brave enough to overcome.

Ideas and opportunities will come your way, and good entrepreneurs should not form lasting attachments to products and ideas. To do so will be to miss out on transformational opportunities.

The key is to be open to these opportunities and remain flexible enough to take advantage of them when they arise. If you enjoyed this article, why not take a look at my blog (http://zzaponline.co.uk/blog/).

Author bio

 

The 7 Habits of Successful Entrepreneurs 2I am the founder and director of ZZap Ltd (www.zzap.com). From an early age I have had a burning passion to run my own business. At the age of 9 I started my first car washing business, at 11 my own gardening business and at 14 I sold confectionary from my school locker. I have always loved entrepreneurism. I believe work ethic is the foundation to being successful. If you truly want something bad enough you can achieve it.

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