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November 30, 2021

Howard Davner on Habits of Successful Entrepreneurs

Every entrepreneur has a different way of handling their workload and the stress that comes with it. Many develop specific habits that help them succeed – while others go into the field already having these habits in hand.

It’s essential to remember that there is always room for change. So for those hoping to up their entrepreneurial game, try incorporating more of the following habits.

Eye on the Prize

One habit that all successful entrepreneurs practice is focusing on tasks with the highest value. For this reason, the most influential entrepreneurs avoid wasting time on useless tasks. Billion-dollar companies require significant focus and determination to build, and therefore the successful entrepreneur cannot afford to indulge in low-level tasks.

Routines and Management

Productive entrepreneurs also create successful routines. They carefully regulate every aspect of their day. Having a routine helps ensure that an individual gets a lot more done healthily. Creating a pattern accomplishes inspiring things while still finding the time to blow off some steam with leisure activities.

Successful entrepreneurs are also great when it comes to money management. Balancing their cash flow allows them to avoid negative financial numbers. An individual should avoid the two money management extremes – being too cheap and excessive spending on pointless items. An excellent example of a successful entrepreneur with excellent money management skills is David Klein, the founder of CommonBond.

Other Useful Habits

Reading is another habit that all successful entrepreneurs practice. There are direct correlations between the level of success of an entrepreneur and the number of hours they set aside for daily reading. An individual with aspirations of being a successful entrepreneur should make reading a staple of their routine before going to bed or early in the morning.

In addition, exercise is essential to produce entrepreneurs. There is more to exercising than simply gaining the body shape of a bodybuilder or a model. An exercise routine as simple as a daily walking schedule can be beneficial because a strong body nurtures a strong mind. There is no need for complicated workouts.

Successful entrepreneurs also constantly build robust networks. They are very familiar with the fact that it is who they know, not what they know, that makes the biggest difference in achieving significant results or getting funded. Matt Salzberg, the founder of Blue Apron, is a fine example to show the fruits of practicing this habit. He built a powerful network by working for Bessemer Venture Partners, an influential venture capital firm, and graduating from Harvard.

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