According to Capterra, a little over 50% of entrepreneurs who start a business fail within the first 4 years, with 19% failing on account of excessive competition, and another 19% because of cost or pricing issues. That’s a grim statistic enough to make most would-be business owners run for their ropes.
However, that’s not a deterrent for a tiny portion of individuals who move into entrepreneurship with the zeal and enthusiasm of a kid at a candy store. Successful entrepreneurs share some common traits that help them succeed over and over again.
Let’s delve into 5 of these common traits without further ado.
1. Use a Calendar
It is easy to get distracted when you don’t know where to go. Therefore, you need a plan for your whole week so you can understand what is more important for you.
So what can you do this month to move a step closer to your annual goals? The answer to this question is lies within your monthly goal. Once you have your monthly goal, ask that question again. What can you do this week so you can move a step closer to your monthly goals?
The answer to this question is your weekly goal. Now, once you have your weekly goal; ask that question one last time. What can you do each day of this week so you can achieve your weekly goal?
That will give you your whole weekly plan. Mark all the work that you need to do on your calendar. You can even go online to download old school calendars to help you get this process started.
Once your weekly goal is achieved, repeat this to find the goal of the forthcoming week.
2. Manage Your Time Wisely
Always decide on your goal for the day in the morning. A good tip is to set your phone to auto-reply mode during this time to minimize distractions. There are many apps available that can send custom replies to all calls and messages, letting people know you are busy and will contact them as soon as possible.
Make sure you take the time to manage your digital life. Check your emails or social media sites only twice a day, and stick to that schedule.
If you find that your employees disturb you often give them a scheduled time to reach out to you. Tell them that you will listen to their plights at a suitable time.
Once you start managing your time this way, people around you will soon adapt themselves according to your schedule.
3. Learn to say No
When you are a successful leader, everyone will want your piece of time, and many people will need your help. And it is okay to say no. It is not necessary to reply to all the calls or messages or emails. You don’t need to help everyone you meet.
One of the biggest hacks to stay organized is to “cut the fat”. Say no to the work which can be done without you. Say no to those people who can manage to solve their problems without you.
Remove all those things which are eating up your time and energy and quadruple down on one or two things which are really important to you.
4. Stop Multitasking
Multi-tasking is a myth. There is no such thing as multi-tasking. Even computers and mobile phones cannot do two things at the same time. They switch between two tasks in the span of milliseconds, doing only one task at a time. Since the difference is just of milliseconds, it appears like they both are being done at the same time.
Our minds are not designed to work on two things at the same time. Working on one thing is like driving a car on a straight highway. However, switching between two tasks is like driving a car on a road that has a speed bump every 10 meters. It will take you a long time to cover a distance of 1 mile on this road.
5. Reflect on Your Day
This may not sound like a great hack, but it is one of the most adopted habits of successful CEOs and entrepreneurs.
At the end of each day, take some time out and ask yourself this question “What can I do tomorrow to make my day more productive and organized?”
This question will make you think about your day. It reveals those small things which bring clutter and chaos in your daily life. By giving some time every day and asking yourself how you can remove them from your life, you can make your day more organized.
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