Best in Business: 10 Habits of Successful Business Owners

Success and good habits often go hand in hand, and this is especially true for business owners. That’s because business owners understand the importance of being consistent and focusing on every detail to get the most out of each day. They are intentional about everything they do and they make sure their habits push them to be productive. While some habits come naturally, others must be learned and acquired. Either way, these habits are essential to the survival of your business. Below are just some of the habits you will notice in most successful business owners. 

1. They Read

Owning a business is undoubtedly one of the most hectic and stressful jobs so it seems like reading would be put on the back burner. However, reading is critical because it helps you to build knowledge about your business’s industry and stay on top of current trends. In fact, Warren Buffet dedicated nearly 80% of his day to reading because he saw how valuable it could be. In addition to compounding knowledge, reading can also be a great way to relax and unwind after a long day. 

2. They Plan for the Future

Starting a business can be an exciting time and it’s easy to get wrapped up in the excitement of seeing this business become a reality. However, successful business owners think about the future and how they plan to grow their business. They create a financial plan that will carry them through those first few years and they also have a well-organized plan for emergencies, both big and small. They also create a plan for future heirs, employees, and stakeholders so they can ensure their business thrives even without their involvement. 

3. They Prepare for Each Day in Advance

Effective business owners don’t walk into the office each morning wondering what will be on the to-do list for that day. Rather, they prepare in advance for the days ahead. They have a nightly habit of preparing the next day’s tasks, goals, schedule, and any meetings or calls. They go to bed each night well-prepared for the day ahead. Not only does this make them more relaxed and confident, but it also makes them more productive because they aren’t wasting precious time figuring out what to do next.

4. They Exercise

Exercise is extremely important for both physical and mental wellness. Starting your day with exercise can enhance creativity, memory, and cognitive skills. Furthermore, exercise releases endorphins that can help you feel happier and cultivate a positive attitude. Many business owners have made morning exercise a part of their daily routine so they can feel energized and rejuvenated as they begin each day. 

5. Practice Integrity

It all goes back to the “Golden Rule”- treat others the way you want to be treated. Honesty and integrity are two of the most important assets of a successful business owner. Showing integrity helps to build better relationships with employees and customers, but it also keeps business owners grounded and reinforces their personal values and beliefs. Integrity is the secret to sustainable partnerships and long-term success. 

6. Saying Thank-You

Running a business is hectic and it’s easy to get caught up in the daily operations of the business. On that same note, when business owners work with high-performing teams, they recognize the value they bring to the table and they don’t forget to acknowledge that. A simple “Thank-You” can go a long way in fostering strong professional relationships and it helps to build a culture of gratitude. 

7. They Delegate

There are a million things you want to accomplish each day but this is not the job of one person. Multi-tasking can be extremely inefficient and can lead to stress and frustration. Instead, successful business owners trust their employees to take on tasks and responsibilities. Not only does this empower employees, but it frees up their time for more important tasks. 

8. Balance Work/Life

Owning a business can consume one’s time and energy and can easily take over their life. Successful business owners understand the importance of separating work and life and freeing up time for personal enjoyment. They set aside time each week for breaks and are intentional about stepping away from work to clear their mind and unplug from the hustle and bustle.

9. They Network

Business owners know they can’t do it alone so they build relationships to create a powerful network. They cultivate relationships with peers, mentors, and advisors who can provide support and assist when needed. Networking can help a business to grow exponentially.

10. Stay Positive

There’s something to be said for the power of positive thinking, but maintaining that energetic spirit isn’t always easy. It can be especially difficult when in the midst of chaos or when things aren’t going well. Nonetheless, successful business owners are intentional about focusing on the positive. This empowers them to have a better outlook on life which leads to greater productivity and increased success.