Being a renowned entrepreneur takes more than just constantly formulating business and marketing strategies.
Success also comes from forming good personal habits and sticking to them.
For the most well-known entrepreneurs, taking care of mind and body is just as important as scaling a global business.
If you need to feel inspired, check out our list of habits that successful entrepreneurs are most likely to form and stick to throughout their careers.
By the end of it, we hope you’ll feel inspired to achieve your goals.
1. Strive to innovate
Innovation plays a significant role in continually improving all business operations.
It helps to increase productivity, reduce maintenance costs, and offer customers better brand awareness.
Plus, having a constantly innovative business increases your chances of surviving any competitive industry.
As a business leader, you need to embrace change and adapt to the constant evolution of demand.
Henry Ford, the mind behind Ford Motor Company, used innovation to keep up with the competition in the global automotive industry.
Together with his team, he pioneered the launch of the first moving assembly line to revolutionize the industry and influence car manufacturers up to the present day.
Ford said, “Be ready to revise any system, scrap any method, abandon any theory if the success of the job requires it.”
2. Wake up early
Read any article about the lifestyle of entrepreneurs and you’re bound to find a list of people who never hit snooze on their alarms.
While getting up early every morning can be a challenging task, coupled with an early night it can really boost your energy to get through the day.
Studies have also shown that being an early bird can improve concentration. You’re likely to have better focus and mental clarity to manage your work effectively.
Take it from the Apple CEO, Tim Cook, who gets up before 4 a.m. every day.
He sees his long term morning habit as a key factor in staying focused and productive. Cook also emphasizes that early starts allow him to spend more time with his loved ones.
3. Exercise regularly
Exercise doesn’t only affect your physical health. It can also boost your mood and reduce levels of emotional stress.
When it comes to exercise, it’s not necessary to go all-in. Even a simple, short daily workout can have dramatic changes.
Pick a routine that’s best suited to your preferences and physical capabilities. Or make it one of your successful habits to switch up your workout style on a daily basis.
Arianna Huffington, the founder of The Huffington Post, practices yoga to strengthen her life values as well as her body.
According to her, yoga helps improve her empathy and compassion for others, among many other benefits.
4. Express gratitude
Cultivating the habit of being grateful is the gateway to healthy relationships and better business prosperity.
It’s also a pretty common daily entrepreneur habit. Dhiraj Sharma, the CEO of Simpplr, believes that authenticity is essential in expressing gratitude to others.
He consciously strives for honesty, appreciating that his colleagues are smart enough to tell if he’s making a false gesture.
“A fun thing I’ve had my managers do is drive their team to the mall, give them a gift card, and tell them they have an hour to spend it,” said Sharma.
One of the best rewards your employees can receive is a great experience, which can contribute to their personal growth and career development.
5. Read a lot
Studies suggest that adults who engage in more creative or intellectual activities have a lower cognitive decline rate later in life.
For Microsoft’s Bill Gates, one of the most renowned entrepreneurs in the modern world, taking the time to read is more than just a pastime.
He claims that staying literate plays a vital role in his success, believing that people don’t get older until they stop learning.
“Reading fuels a sense of curiosity about the world, which I think helped drive me forward in my career and in the work that I do now with my foundation,” said Gates.
6. Get enough sleep
Even the most alert morning-person can find themselves feeling tired in the afternoon if they haven’t had enough sleep.
If you want to be a dynamic entrepreneur, daily rest is going to be vital to your success.
Everyone has different needs, so figure out how many hours of sleep you need to get so that you can be the best version of yourself.
Jeff Bezos says that getting eight hours of sleep helps him make the most critical decisions necessary for his role.
Remember that a good night’s sleep is vital no matter the upcoming task at hand.
You might be speaking to a room full of journalists or just heading into the office to update your business plan. Either way, make sure you’re well-rested.
7. Learn from mistakes
Making mistakes is part of the learning process. You should learn from failures instead of allowing them to discourage you.
After all, no one is mistake-free, including successful entrepreneurs.
When you’re growing a small business, try to take calculated risks and see failures as an opportunity to better yourself.
You’ll gain the confidence to try new approaches and ideas, and you’ll realize that this is one of the most frequent habits of entrepreneurs.
Abhi Lokesh, the co-founder of Fracture, embraces his mistakes as learning curves, which in turn opens him up to success.
“The truth is, starting a business is a series of mistakes, redirects, stumbles, and hard-earned lucky breaks,” stated Lokesh.
That said, the success of your business comes down to how you respond to those unexpected events.
8. Practice time management
Using your time wisely and accomplishing tasks in a timely fashion is critical for success.
Raul Gutierrez, a renowned football manager, eliminates low-value activities that don’t help him reach his goals.
Among his daily habits is limiting and managing his social media use. He sees it as a significant distraction.
There are plenty of time management tools you can use to keep you on track. You can also create a weekly schedule for yourself to make it a little bit easier.
In short, the goal here is to make every day meaningful.
9. Get out of your comfort zone
Intellectual growth can only really happen when you leave your comfort zone, so challenge yourself every day and learn from different experiences.
If you want to be a successful entrepreneur, you need to be open to learning new skills to scale your business in the right way.
Nate Masterson, the CEO of Maple Holistics, believes that stepping out of your comfort zone helps with decision making, fostering creativity, and encouraging innovation.
“One of the best ways to step out of your comfort zone is to learn something new,” said Nate.
According to him, giving yourself a chance to be a novice again can be a humbling experience.
10. Write consistently
Writing has always been a powerful tool, even for successful entrepreneurs in fast-moving, technical industries.
As an exercise, writing encourages creative thinking and helps you to express your thoughts in a more structured manner.
Chances are, you’ll find it easier to focus on a task when you put down your thoughts or feelings on paper.
That’s why Virgin Airlines founder Richard Branson writes regularly and keeps a blog for better mental clarity and enhanced creativity.
When he’s busy writing emails or taking calls, he keeps himself updated with the latest news to give his writing a new perspective.
“One day I’ll be writing about conservation, the next I’ll be sharing family photos from Necker Island.
Then the following day, I’ll be offering business tips to help young entrepreneurs find their stride,” says Branson.
11. Manage your money well
Unplanned purchases tend to pile up. Before you know it, you spend more money than you should.
Responsible money management is the key to securing your financial future, both in business and in your personal life.
Tracking your spending is a great way to make you stick to a budget and encourage you to meet whatever financial goals you’ve set for yourself.
Spencer Barclay, the founder of Savology, explains that real money problems start when you don’t know where your money is going.
“When you are cognizant of your spending habits, it becomes much easier to keep them in check and contribute more to your savings goals,” said Barclay.
12. Delegate work
There’s only so much work you can do by yourself.
To be a successful entrepreneur, you need to learn to delegate. For some people, this means letting go of total control – and it will be worth it.
Done in the right way, delegation will improve teamwork and increase productivity. It allows your team members to develop much-needed skills, boosting their overall performance.
According to the CEO of King of Maids, Filip Boksa, better delegation stimulates creativity and develops his team’s skills.
“Letting employees test out their ideas will not only keep them engaged, but it may also lead to additional revenue streams,” he said.
It’s no surprise that meditation can reduce anxiety, improve one’s focus and concentration, and strengthen empathy.
The practice of meditation aims to re-organize your thoughts and enhances awareness of your inner consciousness as well as the well-being of others.
By meditating regularly, you get to improve your decision-making skills and stay focused on your goals.
Rick Goings, the former CEO of Tupperware, claims that it helps with stress tremendously and gives him better clarity to tackle tasks at hand.
14. Avoid multitasking
Multitasking may seem like the only solution when you’re overwhelmed with work.
So you might be surprised to learn that trying to tackle multiple tasks simultaneously can reduce your productivity by as much as 40%.
Instead, focus on giving your best to finish one task at a time.
While this approach can make tasks take longer to complete, it lets you funnel your energy and eliminate distractions that can negatively impact your productivity.
Ryder Carroll, the mind behind the Bullet Journal, believes that tackling too many tasks will only hurt the process, since no task will get the full attention it requires.
15. Stay hydrated
Finally, a simple habit but arguably the most important: don’t forget to drink water.
Hydration is essential for physical and mental health. In fact, dehydration can cause loss of focus, fatigue, and headache as well as severe cases like delirium and mental decline.
When keeping yourself hydrated, it’s way easier to stay focused and use your brain’s full capacity to make strategic business plans.
Jonathan Braddock, the founder of My Life & Wishes, drinks 20 ounces of water every morning to jumpstart his day.
If you forget to take in enough water throughout the day, download an app to keep you in check.