Successful Entrepreneurs Never Compromise on These 5 Fundamentals
If you’re reading this, more than likely, you have ventured into the world of online business at some point. As an entrepreneur, you have a dream to create residual income or a clientele base to satisfy the hunger your business craves daily. Sadly, many people who start out on a business venture won’t be able to see it to completion because they lack the strength to push through obstacles which eventually stand in their way.
For this article, I interviewed Rohan Sheth, founder of Rohan Sheth Consulting, and asked him to shed some light for entrepreneurs who are continually searching to make themselves and their businesses better. Here are five habits you should practice in order to achieve the success you desire.
1. Give content away for free.
As an entrepreneur who is trying to pay the bills, the thought of giving something away for free is a hard pill to swallow. In fact, it seems contradictory to what you’re trying to accomplish with your business. However, there is a strategy involved in giving away free content. Naturally, companies have tested this, and Costco was one of them. In 2014, the company told The Atlantic that sales jumped 600 percent after testing their market with free samples.
Sheth explained in order to create a brand people can know, like and trust, you need to build value around what you do. The good news is, you don’t have to continue giving things away for free. Once you have trust, you can build your reputation in your niche. Balance the give and the ask, and your business will begin to see results.
2. Stay consistent on tasks.
Like any entrepreneur on any given day, your workload is tremendous. You juggle 50 different tasks at one time, and it seems there is always something you could be doing.
During this phase of your business, it’s imperative you stay consistent on the projects you send out, especially on the web. Your audience sees what you are producing and during this time, they become acquainted with what you are giving them. For example, if you publish a blog post every Monday, your audience would be upset if, come Monday, a new article wasn’t there. Make sure you stay consistent with everything you are sending out.
Pushing consistent content to your audience does a lot of things to help your business. Not only is most of this going to be free for your audience, it will build your credibility and help you establish a foothold in your industry. Plus, it’s always nice when your audience is not only reading, but consistently talking about your brand.
Being consistent is crucial in order to balance this dynamic within your target audience.
3. Live a healthy lifestyle.
I know what you’re thinking -- I'm too busy to workout or do cardio, said every entrepreneur on the planet.
Those who understand the need to take care of their body as much as their business are the ones who benefit from the effects of leading a healthy lifestyle. One of the greatest benefits of exercising is the fact it increases your endorphin levels, which helps your brain think more clearly. It basically clears out the cobwebs. Better yet, being cooped up in your office all day with low light in front of a computer screen leads to serious depression issues.
Living a healthy lifestyle can eliminate all of this and create less stress levels for you to deal with later on in your work day. In fact, there’s a good possibility you’re not exercising enough, says CBS Atlanta. Take some time out of your day and go for a run or walk the dog. Just do something.
4. Have a plan for your goals.
Goals help you stay on track. Plans allow you to get there. Sometimes entrepreneurs are just ready to start their business, not really knowing what to expect or what their end goal is. Having a business goal can help you measure success and, if you write it down somewhere, it becomes more real to your company because it transfers from a thought in your head to a tangible thing you can see. Now you can start to focus on the goal you have.
Where do you want your company to be in one year? Write it down. Where do you want your company to be in six months? Write that down as well. Now, create an action plan on how you need to achieve these goals.
No matter which successful entrepreneur I talk to, each one of them have grasped the idea of setting and achieving goals in their business. This is where a lot of so-called entrepreneurs miss it. They have the vision and the dream, but they fail to plan it all out so the business can realize what they’ve seen in their head.
It isn't real until you write it down.
5. Take time for family.
Part of being a successful business person is knowing how and when to manage your time. There is a balance between family and work, and you have to be a professional time master in order to accomplish it. One of the reasons entrepreneurs burnout and quit is because someone forgot there’s other people living with them. The job can put a strain on the whole family if you cannot figure out which time is best for work and which time is best for family.
One suggestion is to sit down with your family and explain the rules. This is just an example, but if you begin work at 6 a.m. every morning, and you know you could be finished with everything by 6 p.m. every night, tell your family. This way they know if it is 5 p.m., you’re still at work, and you shouldn't be bothered. On the other side of the coin, if it’s 6:30 p.m. and someone emails you, it’s up to you to adhere to the rules of time management.
Sit down with your family and pick the time that works for everyone. Set aside time for a day off, too.
Not every entrepreneur will become a success. Some will choose other things over their business. Others will burnout because, frankly, they burnt the candle at both ends. Worse yet, some will be completely ignored.
However, Sheth believes if you follow each of these five habits, you can be found in the ranks of successful entrepreneurs who have realized it’s a little bit of strategy, a little bit of healthy and a little bit of family that makes up the whole part of the entrepreneur in the end.