There are many small businesses in the market today. Some of them succeed but many fail. There may be many reasons for failure such as ill luck, being at the wrong time at the wrong place, inadequate finances, untrustworthy employees, poor economic environment and more. But the major reason why so many small businesses fail comes from the top level. Many small business owners either don’t know how to run an enterprise effectively or do not leverage their knowledge properly. We look at what successful entrepreneurs do daily to ensure their business succeeds in the market place. Small business owners would do well to absorb this information and incorporate it in their companies.
Rise Early and Work
Studies have found out that the majority of successful businesspersons wake up early in the morning. The logic behind this daily habit is they get a solid chunk of uninterrupted time. Other good reasons to get up from bed early is that you are fresh after having completed your required amount of sleep and family responsibilities are usually not there so early in the morning. Also, successful entrepreneurs do the most important work early in the morning. This way later in the day they can focus on and complete the less important tasks.
Practice Meditation and Yoga
The first thing in the day that many successful business folk do is to meditate and do yogic asanas. Yoga is an ancient Indian science that is good for both the mind and body. The advantage that yoga has over aerobic exercise is that it is done as per different individual’s capacity. So, you don’t tax yourself physically and there are absolutely no exercise related injuries in Yoga. Meditation works wonders for your concentration and you will feel fresh throughout the day. Also, the former makes individuals less prone to stress, anxiety as well as depression. Only if you take care of your health by exercising and eating right can you take good care of your business.
Write Everything Down and Carry a Small Notebook Wherever They Go
Successful folk don’t tax their brain with business and work details. They don’t rely on the fallible memory. The former make it a habit to write everything down. This involves financial transactions, important tasks, important phone calls to be made, telephone numbers, email addresses and so on. Hence their brains are free to focus on the big picture of running their business operations smoothly.
To Do List and The 80/20 Rule
One daily habit of successful entrepreneurs is that before starting their work they list down all the tasks of the day that need to be accomplished and assign priorities to each. This way they don’t miss out any tasks and shortlist the really important ones. The business people focus on the 80/20 rule. For example, 80% of a company’s business comes from 20% of its customer base. So, it makes sense to concentrate on the 20% and be really productive.
Successful business owners spend time organizing themselves. They clean up their desks and shelves first thing in the morning. They delete old and unwanted emails from their mail box. It is a great idea to start the day with an uncluttered desk and mailbox. This reduces the stress at the work place. Everything should have a place and everything should be kept in its place is not a cliché.
Check Their Emails and Phones Only Once a Day
Generally, people keep on checking their emails at regular intervals and attend to their phones whenever it rings or receive a message. What separates successful folk from them is that the successful individuals allocate a specific time for checking emails and phone calls. It is usually done only once first thing in the morning or towards the fag end of the work shift.
You can slowly include the above habits of successful entrepreneurs in your daily routine. This way you will effectively practice their habits until it becomes second nature to you. Then you will be well on your way to join the ranks of successful small business owners.