7 Habits Of Highly Effective New Entrepreneurs
Starting out as a new entrepreneur can be frightening, exciting, overwhelming, and empowering, all at the same time. Start your entrepreneur journey with developing great habits that will keep you moving forward efficiently and effectively. Bad habits can keep you stuck, broke, and unhappy. Below are 7 habits that are important for growing your business no matter what industry you are in.
Consistency is crucial. When you are consistent you stay relevant. If you start and then disappear for a while your followers and customers will not take you serious. Staying consistent with your email marketing, social media marketing, pushing out content and new products, and engaging with your followers will help you stay relevant and will force people to pay attention to what you are doing. Do not get in the habit of starting and stopping. Set monthly goals, create an action plan, get it done, and then repeat.
Network to increase your networth. How will people know that you and your business exist if you’re not putting yourself out there for people to get to know you? Research networking opportunities that will either allow you to network with potential clients or network with potential investors, mentors, business coaches, or even business partnerships. Pick your networking events wisely because all networking events are not worth your time, energy, or money. Check out Eventbrite to see what networking events are being hosted in your area.
Get Social. Building a social media presence will allow you to grow your business faster and make your business more profitable. Social media has allowed earning money easier than ever. You can literally make money in your sleep and without always having to leave your home. Building a social media presence does not happen overnight so being consistent with your social media can help you increase followers, increase website visitors, and in result increase revenue. Some of the social platforms that are popping are Facebook, Instagram, Persicope, SnapChat, LinkedIn, Twitter, and Pinterest. Find where your target audience hangs out and pick 2 or 3 social platforms to truly focus on.
Consume Content. It doesn’t matter if you’re a novice or an expert, never stop learning. Society is forever changing and evolving, new methods are being created and upgraded, technology is expanding, opportunities are limitless but you will never know these things if you don’t stop to read news articles, magazines, books, or join webinars, seminars, and classes. When you stop learning you stop earning.
Execute. Knowledge is only power if you use what you have learned. So many times we consume, consume, consume, but don’t execute. Put what you have learned to work and watch your efforts manifest. Make sure you execute as you learn because if you consume too much content without execution you might find yourself stuck on where to begin. Learn, execute, and then repeat.
Sacrificing Your Time. Entrepreneurs and celebrities who has made it big didn’t make it big without sacrifice and you are no different. In order to build your business you might have to skip your weekly girls night out, date nights with the boo, birthday parties, skipping town, watching your favorite weekly tv shows, etc. The little time you have will need to go towards building your business. Steve Harvey spent decades doing stand up comedy before he made it big. Sophia Almoruso spent countless of hours searching through thrift stores before launching Nasty Gal. Great success comes with great sacrifice. The people you admire in the books and on social media sacrificed their time to grow the businesses they love. Now that doesn't mean you will never get a chance to go on another girls trip but understand that building an empire takes time and time waits for no one. So use it wisely.
Invest The Coin. Three of my favorites money quotes are, “Scared Money Don’t Make No Money.” “Fortune Favors the Bold.” “It Takes Money to Make Money.” Master P invested $200,000 of marketing money for a distribution deal with Priority Records. No one gave him that $200,000 he turned $10,000 into $200,000 by learning and selling CD’s out of his car. Investing that $200,000 is now chump change to him. Master P is now worth $375 million as of March 12, 2017. You might not need to invest $200,000 right away however, if you want to win big you have to play big and think big. Starting out as a new entrepreneur some investments you can make can include, books, technology, equipment, or a starter website. Understand that you cannot expect to grow your business without investing the money that you need to fund your products and services. Get in the habit of putting money aside to pay for what you need.
It is easy to get frustrated and overwhelmed as a new entrepreneur; however, you can keep stress to a minimum by developing habits that will help your business thrive. Some new entrepreneurs hold themselves back simply because they have not developed successful entrepreneurial habits. Do not be that person. Develop good habits in the beginning so you can make it across the finish line.