Habits Of Successful Entrepreneurs

Published by Mike Michalowicz (Google+)

The Foundation

Truth be told, entrepreneurship is not for the weak! It takes a lot of hard work and dedication, and you have to be so passionate about what you are doing that you will continue to do it even if you are not getting rich like you thought you would!


There are many things that go into making for a successful entrepreneur. But here are the top five that you must have in order to be successful at it:


  1. Have a vision. Most people think that to be a successful entrepreneur, you need to have a two-inch thick business plan. Nonsense! What you need is a vision, which you can get the general details of down on one sheet of paper. Include where you would like to be 90 days from now and a year from now, and you are all set. Then, on a daily basis, keep track of the things like your cash flow, prospects, etc. Knowing where you want to go is far more important than producing a big paper report you will likely never look at again.
  2. Be lifestyle flexible. Businesses usually don’t start out making a profit right away. You need to be aware of this and be able to realistically live with it as well. It means that you will need to be comfortable tightening your belt and maybe not doing all the shopping and dining out that you may be used to, at least until your business starts making a profit. Know this going in, so you can accommodate and not quickly run in the other direction.
  3. Believe yourself. What others think about you doesn’t matter nearly as much what you think of yourself. It is essential that you believe that you have what it takes to succeed. Your self belief will take you a lot further than anyone else’s belief in you!
  4. Tout yourself. When it comes to your business, you have to put your inhibitions aside. You have to be able to sell yourself and your company and let as many people know about your business as possible. Even if you are an introvert, you will have to be able to do this, or not many people will know about your business.
  5. Be a doer. There are basically two kinds of people in this world. There are those who talk about starting a business, and there are those who actually do it. In order to be a successful entrepreneur, you must fall into the latter category! If you want to be successful in business, you have to, at some point, stop thinking and talking about what you want to do and actually take the leap to get it done.


Self Evaluation

If you dream of being a business owner, you really need to take an honest assessment to see where you fall in line with the above rules. If you fall drastically short, and you still want to start a business, then first make some changes to meet more of these conditions before getting started. If you feel you measure up and have what it takes, then you need to ask yourself what it is that you are waiting for. There is no better time than now to get started, so go get started!



By Mike Michalowicz, Author of The Toilet Paper Entrepreneur

Category: Big Success Stories, Exceeding Expectations, Managing Focus
Tags: , , , , , , .
  • Curtis D Guyton

    Great article, I have most of these qualities a already, I just need to finish school first. Your right some make the leap and create a business, and others talk about it….I believe all true entrepreneurs are “go-getters” at heart. http://www.entrepreneurialthinker.com

    • Anonymous

      Thanks, Curtis! Good luck in your endeavors!

    • Anonymous

      Thank you, and that’s great!

  • Simon Lidster

    Good info. Nice easy way to measure oneself. I’m very strong in Vision & Action, strong in belief flexibility. I really suck at the moment with touting myself. I am an extrovert, but socially conditioned modesty I think holds me back. I’ve also identified a limiting belief sustained by a phrase that I’ve been repeating for years – “I’m not a salesman ”

    I think that’s a problem for many entrepreneurs as we usually set up businesses around what we are good at (technical IT) and progress into what we love, neither of which is usually sales.

    Moving the mind from “I DON’T want to do THAT!” through “Ok I know I have to” is not enough as sales requires enthusiasm.

    I’m bombarding my mind with sales training at the moment in an attempt to start to love the game.



    • Anonymous

      Thank you. Keep up the good work, Simon!

  • Anonymous

    You’re welcome, Angela! Thanks for reading.

  • Anonymous

    You’re welcome, Angela!