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7 Habits That Make Successful Entrepreneurs Highly Efficient

7 Habits That Make Successful Entrepreneurs Highly Efficient

We live at a time when competition is stiff and we need to be at the top of our game to succeed. Even when we have so many tools and apps to maximize our productivity, it remains up to us to find out what will strengthen our abilities on an ongoing basis.

Building successful habits that will optimize our efficiency may seem difficult, yet the achievements of successful entrepreneurs are dependent on the habits that they nurture.

Here are 7 habits that successful entrepreneurs master in order to improve their efficiency and help them reach their goals quicker:

1. They look for solutions rather than problems

“True entrepreneurs look for ways to make ideas work, while regular people focus on why they won’t work. If entrepreneurs hit an obstacle, they mobilize and seek ways to overcome it. Regular people see it as an excuse to give up.” – Andrei Kolodovski, serial entrepreneur.

To be more efficient, successful entrepreneurs work on forming mental habits that make them problem solvers rather than problem creators.

2. They focus on the importance of core values- for themselves, and employees

“They want the company they work for to reflect their values, personality and principles. They do not want to have to check-in their values at the front door every time they go to work.” – Gerard Danford, London Business School.

Successful entrepreneurs do not chase too many goals at once. They know what they want and where they want to be. Such a focus on values helps entrepreneurs to be more efficient. Such an attitude can also motivate and inspire employees to feel happy that they are working for a company with a mission and a social purpose.

3. They have a schedule for each day

“There is interruption all the time, but I can quickly deal with an interruption and then know that it’s Tuesday, I have product meetings, and I need to focus on product stuff.” – Jack Dorsey, co-founder of Twitter.

Successful entrepreneurs don’t muddle their work day with too many activities and an unstructured approach. They focus on what should be accomplished daily. Having a schedule helps them to direct their energy on what needs to be done each day.

4. They prioritize

“I really want to clear my life to make it so that I have to make as few decisions as possible about anything except how to best serve this community … I’m in this really lucky position, where I get to wake up every day and help serve more than a billion people. And I feel like I’m not doing my job if I spend any of my energy on things that are silly or frivolous about my life.” – Mark Zukerberg, co-founder of Facebook.

Successful entrepreneurs do not expend their energy on things that do not stretch them towards success or attaining their primary goals.

5. They focus on excellence

“For my first five years at Google, I pulled an all-nighter every week. It was a lot of hard work.” – Marissa Meyer, current president and CEO of Yahoo!

Successful entrepreneurs are committed to excellence and are focused on results. Rather than simply succumbing to mediocrity they step ahead of competition by putting all their energy into creating something worthwhile.

6. They communicate

“A good leader doesn’t get stuck behind a desk.” – Richard Branson, founder of Virgin Group

A successful entrepreneur understands the importance of accessing the right information in order to be efficient. They communicate with their employees and customers on what needs to be done and improved. Rather than getting stuck, they go in search of knowledge in order to make the investments needed to help their company improve.

7.They invest

“All money is a means of making more.” Oliver Emberton, founder of software firm Silktide.

Every successful entrepreneur knows the importance of using money to get ahead. This is why companies often seek money from venture capitalists. To get ahead you have to see money as a tool. Rather than waste it on frivolous activities, successful entrepreneurs invest in resources and technology that will help improve their products, services, and keep them ahead of the competition.

Featured photo credit: https://unsplash.com/ via unsplash.com

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Casey Imafidon

Specialized in motivation and personal growth, providing advice to make readers fulfilled and spurred on to achieve all that they desire in life.

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Last Updated on March 12, 2019

20 Inspiring Vision Statement Examples (2019 Updated)

20 Inspiring Vision Statement Examples (2019 Updated)

There is normally a lengthy list of things you need to consider when starting a business, and if you don’t manage them properly, your excitement can quickly turn into overwhelm. What can support you to stay inspired and on the right track when starting out? You guessed it: this is your vision statement.

What Is a Vision Statement?

A vision statement is like a photograph of your future business, which gives your business shape and direction.

A vision statement provides the direction and describes what the founder wants the organization to achieve in the future; it’s more about the “what” of a business. It is different from a mission statement, which describes the purpose of an organization and more about the “how” of a business.

If you were to take a photo of your future business now, what would it look like? What do you want your business to be recognized for one day?

You need to have a crystal clear vision when you start out, otherwise you can get easily lost in deciding the best way forward. When you are making strategic decisions for your business and even daily operation decisions, your vision statement will give you the inspiration and targeted direction you need.

The Importance of a Vision Statement

Without a vision statement, your business will lack motivation to keep going.

If you don’t aim for anything, you might not hit anything. The more specific and clear you are, the better your chances are at seeing your vision turn into reality.

The importance of a vision statement cannot be overlooked; not only does it provide long term direction and guidance, but it also gives you the inspiration and the necessary energy to keep going when you feel lost.

Always keep your vision statement alive by revisiting it regularly and communicating your vision with other members of the team, to inspire and motivate them as well.

How to Craft an Inspiring Vision Statement

1. Dream big and use clear language

An inspiring vision statement should inform a clear direction and priorities for the organization, while challenging all the team members to grow together. Based on our expert sources’ advice, we’ve got some great tips for you:

  • Imagine how you want the business to be like in five to ten years.
  • Infuse the business’ values in the statement.
  • Make sure that the statement is implying a clear focus for the business.
  • Write your vision statement in the present tense.
  • Use clear and concise language.
  • Ensure the statement is easily understood.

There are many different types of vision statements and there is no wrong or right way to do it. The most important thing is to resonate with it. It will always inspire you and give you a clear targeted direction.

2. Get inspirations from the successful companies.

Having researched on a number of successful companies’ vision statements, I’ve shortlisted 20 good examples for the new startups:

Short vision statements made up of a few words only:

1. Disney

To make people happy.

2. Oxfam

A just world without poverty.

3. Ikea

To create a better every day life for the many people.

Quantitative statements are based on numbers, quantities:

4. Microsoft

Empower every person and every organization on the planet to achieve more.

    5. Nike

    Bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.)

      Qualitative statements are based on qualities that you want to have:

      6. Ford

      People working together as a lean, global enterprise to make people’s lives better through automotive and mobility leadership.

      7. Avon

      To be the company that best understands and satisfies the product, service and self-fulfillment needs of women—globally.

      Competitor based statements – this type is becoming less common, but famous examples are:

      8. Honda – in 1970

      We will destroy Yamaha.

      9. Nike – in 1960s

      Crush Adidas.

        10. Philip Morris – in 1950s

        Knock off RJR as the number one tobacco  company in the world.

        Role Model Vision Statements – using another company as an example:

        11. Stanford University – in the past

        To become the Harvard of the West.

        12. Reach for Success – in the past

        To become the next Tony Robbins in self development.

        Internal Transformations vision statements:

        13. Apple

        To produce high-quality, low cost, easy to use products that incorporate high technology for the individual.

        14. Giro Sport Design

        To make sure that riding is the best part of a great life.

        15. Tesla

        To accelerate the world’s transition to sustainable energy.

        16. Sony

        To be a company that inspires and fulfills your curiosity.

        17. Facebook

        To give people the power to share and make the world more open and connected.

          Longer and more detailed vision statement:

          18. Walmart

          To give customers a wide assortment of their favorite products, Every Day Low Prices, guaranteed satisfaction, friendly service, convenient hours (24 hours, 7 days a week) and a great online shopping experience.

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          19. Coca Cola

          To achieve sustainable growth, we have established a vision with clear goals:

          Profit: Maximizing return to share owners while being mindful of our overall responsibilities.

          People: Being a great place to work where people are inspired to be the best they can be.

          Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples; desires and needs.

          Partners: Nurturing a winning network of partners and building mutual loyalty.

          Planet: Being a responsible global citizen that makes a difference.

            20. Heinz

            Our VISION, quite simply, is to be: “The World’s Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere.” Being the premier food company does not mean being the biggest but it does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.

            The Bottom Line

            Remember, always keep your vision statement up-to-date to direct your company’s actions.

            Remember, once you reach your vision, it needs to be changed. General Motors overtook Ford as #1 automotive company in the world because once Ford’s goal was reached, they never updated it.

            Keep your vision statement alive and visibly in front of you, revisit it and let it help direct your actions and activities. This is the fun part: this is where you get to dream really big and allow your imagination to fly as high as you want.

            Don’t hold back, let your creative juices flow and give yourself permission to explore what is possible for your business.

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            To your success!

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