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Habits Of Successful Entrepreneurs

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Successful Entrepreneurs

Successful entrepreneurs and leaders are individuals who can take control and responsibility in any situation. They should have the ability to make critical decisions and influence others to follow them. They set a framework or the culture of a group or business within which everyone in the organization operates. Leaders should have the ability to inspire their employees to give their best and get things done. Leadership is more of an art than a science, and people can become an effective leader with time and practice. A company can have a great idea, but with the poor leadership, it can fail in executing it. Whereas, on the other hand, a great leader makes the impossible happen by igniting the passion within the organization.

Here are some habits of successful leaders:

  1. They inspire their team– People look for leaders who are courageous and can make decisions in any situation. Successful entrepreneurs lead by an example. They also achieve this through developing a successful culture. 
  2. They have a definitive purpose– Successful entrepreneurs understand the meaning of success and at what terms they want to evaluate success.
  3. They are aware of their motives– Most Successful entrepreneurs know why they have set their goals and are determined to achieve them.
  4. They have a workflow system- They have an efficient workflow system that ensures that the work is not duplicated.
  5. They are self-reliant– The talented and successful leaders are mostly self-reliant that helps them in pursuing their definitive purpose irrespective of the circumstance.
  6. They seek out highly talented people – Successful entrepreneurs tend to surround themselves with people whose talent complements theirs. Millennial entrepreneurs easily make the best generation of talents and creativity.
  7. They value time– They ensure that the work is delegated, outsourced, or shared. They believe in doing only that work which no one else can do for them.
  8. They have selfcontrol – Successful entrepreneurs know how to control their emotions. They don’t let their spirits down with any disappointments, and they are completely aware that an impulsive decision can damage their year’s worth of work.
  9. They are flexible- Good leaders are open-minded on all subjects. They understand that there are many paths to success.
  10. They are good listeners- Most successful leaders listen more than they speak. They use their conversation with others as a way of learning new things.
  11. They believe in integrity- Successful leaders are the ones who are honest, fair, and forthright and give equal opportunities to everyone around.
  12. They stay focused- Best leaders focus their attention and energy on a single assignment at a time.
  13. They are generous- Effective leaders share the credit with their teams. They recognize and appreciate accomplishments whether small or big of their teams.
  14. They pay attention to details- A good leader looks at each and everything happening around him whether it is positive or negative. He not only notices the things that interest him but things that may affect his interests.
  15. They accept responsibility for their team’s failures– Great leaders don’t hesitate in accepting the failures of their teams. They step forward instead of staying in the background. Interested in reading on the 7 worse failures of all time?  Check this article out.

Great leaders are the visionaries who take their teams to new heights of success.

Business

Design Hack Your Office For Maximum Productivity

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Beautiful startup office designed for efficiency and productivity

Did you know that your workplace design can impact the productivity of your employees? Aside from this, office design also affects employee safety and health. A study by international architectural firm Gensler in the US states revealed that only 38% of employees strongly agree that their workplace currently provides a great experience, highlighting a major gap between what offices offer today and what employees actually need to perform at their best.

So how does the environment impact the health, safety, and productivity of employees?

Design To Encourage Movements

People walking down stairs of an office
Photo by Proxyclick Visitor Management System from Pexels

Our work has a big impact on your health. Most of the time employees spend a lot of time on their desks, so they are becoming sedentary. As we all know, sitting down for long periods of time has adverse effects on our health. In addition, movement offers instant benefits, including cognitive performance boost.

Designing office spaces that encourage movement or walking can help curb these problems for employees and employers alike. There are workstations that are designed to be used in either sitting or standing positions. An open space design also encourages employees to walk from one section of the office to another. Sometimes something as basic as an ergonomically correct chair can help prevent ailments like backaches.

Natural Lighting > Fluorescent

Open office with abundance of natural lighting
Photo by Marc Mueller from Pexels

Good lighting can help people see details clearly and increased visibility can help increase productivity. But, this does not mean to say that you can skimp on lighting in the office because a study from Cornell University shows that poor lighting is connected to low production levels and social satisfaction among employees. Many offices are composed of cubicles to give employees privacy to do their work. However, the cubicle arrangement also blocks natural light, which means that some employees are not exposed to natural lighting during an entire work cycle.

Humans are wired to seek natural lighting. In fact, many buildings in Europe encourage exposure to natural light. Employees who had the best views were the most productive and were most likely to describe themselves as healthy.

Dedicated Noise-Isolation Areas

Quiet area of office where people can concentrate
Photo by Startup Stock Photos from Pexels

Acoustics is another key contributing factor to productivity. To achieve acoustic comfort, the office must have appropriate acoustic support that is conducive to interaction, confidentiality, and concentrative work. If it is too noisy, workers will not be able to communicate with each other let alone concentrate.

Design your office to have multiple quiet areas where employees can migrate to in order to make calls, have private meetings, or to focus on their work.

Designed With Health In Mind

Office workers enjoying a healthy environment
Photo by CoWomen from Pexels

Aside from these factors, employers should also provide workers with suitable ventilation, access to greenery and the gym to help encourage a healthy lifestyle. Even something as basic as giving them access to increase or reduce the temperature in the office can impact their productivity. Employers should also encourage employees to personalize their workstations so that employees are happier. Workspace design should allow employees to socialize with each other easily while at the same time giving them access to views and privacy so that they can work properly and productively.

Good lighting, comfortable furniture, pleasant color schemes, and access to views or natural lighting can help generate positive energy in the office and employee mood. In fact, 8 out of 10 employees said their working environment affects their mental health.

Featured Image Credit: Photo by CadoMaestro from Pexels

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Business

Tips For Starting A Profitable Business

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profitable business

How many entrepreneurs do you know start a company with the intention of failing? We hope that this number is zero, but fail can be the result of a business even if it is unintentional. Serial entrepreneurs know many different ways to fail. This is because success in not guaranteed no matter what business you get into. They also share their tips to avoid failure to help you start a profitable business.

Surround Yourself With The Right People

The phrase “It takes a village to raise a child” also applies to a profitable business. Without talented individuals working for you, it will be very hard to survive. Surround yourself with amazing friends and successful business owners so that you can have access to different skills and knowledge that can help you grow a profitable business and make it thrive.

Build a Strong Foundation

Before starting your business, ask yourself why you’re starting it in the first place. How is your product or service going to help your target audience’s lives better? How does this idea align with your core values? Do you have a solid profitable business plan to make this dream a reality? The answers to these questions will help your business have a strong foundation.

Perfect Your Pitch

You should be able to describe your company in 3-5 words.  Think of AirBnB: a place to stay. Describing your business concisely will make it easy to understand. If it is easy to understand, it is also easier to sell. When working on your pitch, stay away from mistakes like using industry jargon that is hard to understand for the layman, asking the wrong questions to those who listened to you, not making the pith relevant to the listener or only talking about yourself.

Know Your Competitors

Keep your enemies close and your competitors closer. They are not the enemy but not knowing what they’re doing could be harmful to your company. Don’t hesitate to use tools to analyze your competition. Tools like SEMrush, SimilarWeb or even Google Alert can help tell you what your competitor is up to and increase your chances of survival.

Build a “Must Have Product”

Sites like Hacker News have a ton of really cool startups ideas. However, if you really want to increase your chances of survival and success, build a must-have-product instead of a nice-to-have product. The difference between the two is easy to spot. The former is a product that is hard to live without while the latter is more disposable.

Build A Company That You Can Scale Independently of Your Staff

It’s better to grow a company that can be scaled using technology and automation. Take Groupon for example that did the opposite. They have a massive staff because they need it to keep new deals flowing everyday and to service their customers. Their company is not scalable because their growth is dependent on the number of staff their hire. This is why their balance sheet is awful.

 Find Ways To Keep Costs Low

You can think of cash as your company’s lifeblood and high cost is equivalent to a hemorrhage. Remember that all the cash in the world is not worth anything unless it’s a positive cash flow. Find ways to keep your costs low like going directly to the supplier or negotiating for better prices. Find better ways to finance transactions and ways to work out deals.

Focus on Sales and Marketing

Nothing happens in business unless a sale is made. From the start, find ways to get leads and ways to convert those leads into sales and make sure you are getting repeat sales from your customers. To do this you need an effective sales and marketing funnel that you can work, test and measure.

Always Find Ways To Increase Profits

Don’t rest on your laurels yet. Don’t just be happy with getting customers and making them buy from you. Always find ways to get them to buy more.

Embrace Creativity

Brands like Apple and Ikea stand the test of time because they have followers who are loyal to them. They also differentiated their companies from their competitors by embracing innovation and creativity. Reach out to your employees and don’t be afraid to use their ideas. Launching new products and developing a clever marketing campaign is a good way of retaining that competitive edge your company needs.

Test and Measure

Are your marketing campaigns increasing sales? Is your social media presence helping drive traffic to your website? Testing and measuring everything gives you perspective especially if you want to find ways to increase traffic and keep costs down. Use tools like Google Analytics and Unbounce to help you test and measure marketing campaigns.

Empower Your Staff

No matter how big or small you are, empowering your staff by letting their voices be heard can help boost your profitability. When they feel that they are contributing or when you give them freedom to work, you are making them feel wanted which can greatly affect their productivity and self confidence.

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Business

How To Do Business Marketing For Free

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business marketing

Every new entrepreneur will tell you that one of the hardest challenges to beat in business is finding and keeping customers. Marketing your new product is costly and time-consuming, two things you likely do not have much of. Business marketing is basically how you tell your customers what your product is all about. Small businesses and start up companies do not have the luxury of outsourcing their business marketing to industry professionals. Instead of waiting for customers to come flocking to you, there are easy ways that you can find new customers through low-cost, or even free, marketing efforts. Here are some creative and effective ways to market your business without spending a dime.

Local Awareness

Start educating your customers by starting locally. Get local news coverage and build a website. Starting small can help increase name recognition early and educating customers about your business will help with customer acquisition. Many big businesses will not shy away from hiring expensive business marketing agencies and public relations firm. However, small businesses and startups can get a start with simple DIY PR.

Start by doing research on your local paper. Know which writer covers local businesses. Once you know who’s in-charge, get to know them and create a pitch around your business to pique their interest. For example, you’re a local web design company. Explain how your business will impact the local economy and how other businesses in the area will benefit by subscribing to your service.

Be Present In Social Media

Social media is not just about reconnecting with your old high school buddies. If leveraged correctly, social media can become a powerful and affordable business marketing tool. You can maintain identities in all social media platforms or a select few. Whichever you choose to establish a presence, be present and active. According to a study conducted by Mashable and their webcam eyetracking study, Facebook users spend the most time looking at a brand’s wall compared to other elements on the page. Being active on social media allows you to engage your customers better. Better engagement allows you to be on top of your brand while encouraging positive reviews and dealing with negative ones.

Using social media also gives you the platform to provide your customers with something useful, sharable and interesting. Start with a few posts per week to know your audience and understand who is using your content. Once you find out what they want, you can ramp up your efforts.

Use Your Customers

Satisfied and happy customers are the best business marketing tool. You can make personal connections with brand advocates and turn this into a mutually beneficial relationship. For example, you can pitch you business to a well-known writer. In exchange for your services or products, the writer will mention you in his or her blogs. This tactic can lead to a stronger relationship between you and your customers. Once you have an army of satisfied customers telling other people about your product, you can save a lot of money on PR and marketing because happy customers will be very glad to tell other people about your product.

According to marketing experts, a customer singing your praises to other people is the cherry on the icing. This is free marketing at its best.  When you take care of your customer, they can take care of you by telling their friends about your product. However, this is the tricky part. You need to keep them happy and build a brand they can trust. If they don’t trust you and are not happy, they will not endorse your product to other people.

Marketing is a sensitive but vital part of a business’ growth. If you have a new startup you probably have not broken even yet. This is the time to be extremely smart about your marketing budget. Frugality is a skill many new entrepreneurs need to learn and by looking for smart and affordable ways to market your business, you are cultivating a habit of wise spending. The marketing strategies outlined above require little time and money. However if they are done correctly, they can be successful without draining your precious funds.

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