The best path to success is often emulating the pros. It takes a lot more than luck to get to the top and stay there, so proven, successful entrepreneurs should be your port of call when trying to determine what you need to get there.
The following five behaviors have been tried and tested by some of the richest, most successful people in the world:
1. Define and Stick to Your Goals
If you don’t know where you’re going, you certainly won’t know how to get there. Top entrepreneurs know how best to set goals. They know it involves more than simply marking an end-point.
Serial entrepreneur Mikkel Pitzner uses the SMART method. Every goal needs to be Specific, Measurable, Attainable, Realistic, Timely. In other words, you need clear, quantifiable goals, so that you know exactly what it takes to meet them.
2. Be Ready to Work More than Anybody Else
The most successful entrepreneurs work harder and longer than everyone around them. They’re the first to arrive and the last to leave.
Richard Branson explains in The Virgin Way: Everything I Know About Leadership that what some see as “luck” is actually the result of hard work. It is the hours and hours of work that ultimately get everything to line up perfectly. Even though it might seem to you that some get lucky—and you might too—it’s very rarely the case.
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3. Be Willing to Constantly Learn
Many successful entrepreneurs choose to work their way up from the bottom, even when they have the option to take shortcuts. They don’t pass on the ugly work or ever stop investing in themselves. This is because they know that in order to be truly successful, you need to be constantly on top of every aspect of the game.
The business world is in constant flux, and unless you’re growing with it, you’ll soon fall behind. Bill Gates, still the richest man in America, reads informative (and sometimes dull) books for an hour before bed each night.
4. Optimize Your Costs and Budget
When you’re trying to reach the top, you’re going to need all the cash you have. Not only does that mean not spending on gratuitous purchases (for yourself and the business), but also optimizing the costs that are absolutely necessary.
A good example is the transfer of money. When you’re transferring from one country to another, banks hide costs in the exchange rates they give you. Researching the best way to transfer money abroad is one way to save a lot of money.
5. Start Early
One thing that all successful entrepreneurs have in common is that they start the day early. This is not simply because they have more time in the day (although that is part of it). The road to success does not begin with a tardy wake-up.
Not only is that intuitive, there’s also research to back it up, finding that the most successful people are those who have an effective early morning routine.
About the Author
Razvan Nichitoiu is an entrepreneur interested in the booming sector of FinTech. His latest project called InternationalMoneyTransfers.org is helping people save money when sending money overseas.
Well, damn. I already get up decently early as is (7 am during the week and 6 am on the weekends) but I think you’ve just convinced me to start getting up earlier. That Entrepreneur article actually has a lot of helpful tips for doing it too, so, thanks!
Thank you for the list. It’s a good reminder for when I lose focus. I’m sitting here in my office on the Sunday after Thanksgiving planning my goals for next year. It’s a holiday tradition.