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The 7 Habits of Successful Entrepreneurs

We all have habits. Some are good, like positive thinking and healthy eating, while some are bad, like procrastinating and overspending. Habits are basically routines or activities we do continuously without realising it. They have an impact on our daily lives including how we work. Good habits have helped create success for Entrepreneurs like Mark Zuckerberg or Richard Branson. Today we’ll be going through the 7 habits of successful entrepreneurs that you can adopt.

Related: The Top 6 Traits of Game-Changing Entrepreneurs

Habit 1. Get up and active

While work is important, it is also important to get away from your desk. There are many benefits to exercise that can help you work efficiently. It improves your brain, making  you more creative and stimulates your thinking.

Exercising doesn’t require much time or money and a gym membership isn’t required. You can just go outside for walk or jog in a park.

Lots of successful entrepreneurs do it and if you don’t have time, make time in the early morning or evening for it. For example, Richard Branson wakes up at 5 AM and either kite surfs, swims or plays tennis.

Habit 2: Set Goals

Successful entrepreneurs set short and longer term goals for themselves and also for their business. Examples include getting investors and reaching a certain amount of sales per year. Additionally, they set up effective goals that are SMART (Specific, Measureable, Achievable, Realistic and Timely).

Entrepreneurs stick and keep their goals in mind while at work. This helps them prioritise and focus on tasks that are most important.

Before doing anything they ask themselves whether the task will achieve their main goals. To not get overwhelmed by their goals, entrepreneurs further break it down to small tasks. There’s lots of software, such as Trello and Asana, to help achieve this.

Habit 3: Plan and organise

Following on, successful entrepreneurs are continually involved with daily and long term planning, whether in the office or on the road.

They create to-do lists and daily schedules to ensure they get all their tasks done.  Planning creates a strategy on how entrepreneurs tackle their week. It makes them think before they start doing any executions.

There is an endless list of productivity apps and software available that can help with planning, such as Evernote. Successful entrepreneurs also do pre-planning at the end of their day to prepare for tomorrow.

Effective planning helps keep entrepreneurs on track towards achieving their long term goals. As the saying goes: failing to plan is planning to fail.

Habit 4: Take risks

Successful entrepreneurs are not afraid risks when running their business. These risks might involve factors with the market, personal or even financial risk.

In fact, one of the first risks they took were resigning from their current job and creating a startup. For example, Steve Jobs and Steve Woz dropped out of college to start Apple and Elon Musk invested in two startups that nearly went bankrupt but ultimately succeeded.

While risk involves gut feeling and just doing it, calculated risk involves weighing up the pros and cons before execution. There are many benefits of risk-taking. For instance, gaining experience, finding out what doesn’t work and you’ll won’t live with regret.

Whether it’s launching a new product or the financial market, you have to risk it to get the rewards.

Habit 5: Continuously learn

Successful entrepreneurs are always learning and expanding their knowledge. They learn through activities like reading books, attending seminars and networking with others. For instance, Bill Gates is a big reader, reading about 50 books a year.

The benefits of continually learning is that you get new perspectives, knowledge and enhances creativity. There are lots of free and paid resources out there that can boost your brain.

If you like reading, books I highly recommend the 7 Habits of Highly Effective People by Stephen Covey and Thankyou’s biography: Chapter 1 (Definitely for new startups) by Daniel Flynn.

For online videos, TED talks are the way to go. Podcasts by big name entrepreneurs, like Gary Vaynerchuk are also great if always you’re on the go.

Habit 6: Enjoy what they do

Successful entrepreneurs don’t just work for the money, they love doing what they’re doing.

There are different reasons why entrepreneurs create their own startup. Some might enjoy being their own boss or the personal challenge of starting their business.

For others, it might be to make a positive impact, such as Thank you’s founder, Daniel Flynn, or follow their passions, such as Showpo founder, Jane Lu.  

Successful entrepreneurs love it so much that they become emotionally attached to it. They put everything into their startup, even giving up their free time to make sure it succeeds and strives.

Habit 7: Bounce back

While facing roadblocks and the potential of failing in our lives, it’s what we do that matters. Successful entrepreneurs are persistent and will rise above any obstacles.

They view their failure as a learning experience and the opportunity to improve. In fact, there have been lots of successful entrepreneurs who have used failure to turn their business around.

A well known example is Walt Disney. He was told that he wasn’t creative and his early ventures failed. His cartoon creations got stolen and rejected. However, he persevered and became successful with Walt Disney Company.

 

By adopting these 7 habits you’ll be on your way to grow personally and as an entrepreneur. It’s not too late to adopt these habits. You can start straight away!

 

What habits do you think successful entrepreneurs have?
Let us know in the comments below or on social media.

 

 

 

7 Successful Australian App Entrepreneurs

“It’s not about ideas. It’s about making ideas happen” – Scott Belsky, Founder of Behance

Do you have an app idea that has the potential to be the next big thing? All you need is the big idea coupled with the passion and drive towards making it successful. This means getting it developed and published in the app market. Here are 7 Australian app entrepreneurs who have turned their app idea into a success.

Related: 7 Kick-Ass Inspirational Female Entrepreneurs

 

1. Jess Wilson – Creator of the “Tinder for Clothes”

jess-wilson-stashd2Stashd is a fashion discovery app created by Jess Wilson. The idea came from the lack of retailers’ engagement she experienced when shopping online. The fashion discovery app lets users view clothing and accessories from global fashion stores. Then they either stash (swiping right and storing it) or trash (swiping left and deleting it). Stashed is used in over 80 countries with over 4,200 brands partnering with the app and over 500,000 fashion items accessible. It has even partnered with Tencent, a popular shopping app in China.

 

 

 

2. Chris Strode – Ensuring the numbers add up for businesses

 

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Chris Strode is the creator and founder of Invoice2Go, which is a business app where users can create, send and manage invoices from their smartphone. Chris could not find accounting software that were easy to use, which sparked the app idea. From starting out as a side business, Invoice2Go is now worth over $100 million, has raised $50 million in funding and expanded overseas. It has been the number one business app in the app store and is used by more than 200,000 small businesses around the world.  

 

 

 

 

3. Melanie Perkins –  Turning the world into a graphic designer overnight

 

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Melanie Perkins created Canva at the age of 19 in her home. The app makes it easier for users to perform advanced graphic design tasks on their Apple devices. Her app idea came as a result of the complexities of graphic design software. Canta is worth $458 million and has gained over $40 million in funding, with celebrities like Owen Wilson and Woody Harrelson on the list. Since launch, the app has won numerous awards and achieved worldwide success with over 10 million users across 179 countries.

 

 

 

4. Luke Anear – Improving safety, thousands of workplaces at a time

 

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iAuditor is an app created by Luke Anear that allows businesses to create checklists and audits on Occupational Health and Safety in businesses.The app idea came about while Luke worked in the worker’s compensation industry. He witnessed accidents in the workplace and wanted to prevent any more from happening with this app. Since launch, the app has gained $33.88 million in funding and gained international success. The app is used across 80 countries and they have expanded their offices overseas.

 

 

 

 

 

5. George Freney – Saving shoppers time and petrol every day

 

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Booodl is a store discovery engine app created by George Freney that shows users which stores and locations stock products they are looking for. The app idea began when George kept forgetting to buy a USB cable and could not find one at nearby stores. Since launching, more than 15,000 retailers have partnered with Booodl. They’ve won multiple awards, such as the 2015 Aus App design awards, and recently achieved a $2.85 million investment deal with a major shopping centre in Australia.

 

 

 

 

 

6. Andrew Low – Enhancing the supply ordering process

 

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Andrew Low is the co-founder of Ordermentum. Thea app helps businesses in the hospitality industry order supplies efficiently through a cloud platform. With vast experience in Finance and Fast Consumer Goods, Andrew created the app after trying to find a way businesses can order and pay for supplies more efficiently. Since launch, more than 3,000 businesses have signed up to Ordermentum, with more signing up each day. They have recently received $2.5 million in funding and plans of powerhouse investors coming on board.  

 

 

 

 

 

7. Peter Marchiori – Making job applications and hiring a breeze

 

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Peter Marchiori created Found Careers. The app is, essentially, the Tinder for jobs. Basically, users create their profile and tick jobs they want to apply for. Users can also chat directly to employers, making communicate easier. The app idea was the result of the founders facing difficulties of finding employees in their previous business.  It has over 25,000 downloads and over 2,000 jobs posted. Found recently gained $1.5 million in funding and voted as the #1 useful job platform in Australia.  

 

 

 

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