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7 Habits of Successful Small Business Owners

7 Habits of Successful Business OwnersAs a small business owner, no two days are the same. You’re constantly putting out fires, and you’re expected to wear many hats while doing so. 

Against this backdrop, it’s nearly impossible to fall into a regular routine. 

Even still, many entrepreneurs manage to bring order to their workdays by deliberately carving out time to build daily habits. The most successful business owners choose keystone habits that help them grow their operations and generate ever-higher profits. If your goal is to become a successful entrepreneur, below are seven habits worth weaving into your schedule. 

1. Count Your Blessings

Life comes at you fast. It’s easy to fall into a rut, get angry, or become depressed when situations don’t work out as planned. 

Yet, many successful business owners sit down every day to journal or write down things for which they’re thankful. This daily habit helps put life in perspective, allowing you to appreciate the tiny victories you’d normally overlook. 

The act of “counting your blessings” is scientifically proven to make you happier, healthier and more successful. 

2. Read More

Warren Buffett, Bill Gates, Elon Musk, Oprah Winfrey, and Mark Zuckerberg are not small business owners — but they used to be. When asked to explain their success, “love of learning” consistently comes up again and again. 

More specifically, these titans of industry are all avid readers who devote a portion of each day to books. Some of them even get through a whole book every week. 

Don’t have time to read? 

Check out the next habit. 

10 Blogs Every SMB Needs to Follow

3. Get Up Earlier

Most people don’t enjoy getting up early, but there’s a reason why: 

Getting up early allows you to tackle those projects for which you simply don’t have time — whether it’s exercise, business planning, meditation or reading books (see tip No. 2). 

We all have the same 24 hours every day, but successful entrepreneurs consistently make the most of that limited time. 

4. Delegate Like a Boss

As an entrepreneur, time is your most valuable asset. You should use it to work on those jobs that only you can complete. 

Every other item on your “to-do” list should be delegated, outsourced, postponed, or removed. 

If you’re worried about handing the reins to subordinates, keep reading. 

5. Create Systems and Checklists

Successful small business owners use systems to create order in their workdays. If every product launch follows the same basic formula, for example, it’s best to work from a standardized template with clearly delineated checklists. 

The same goes for monthly conferences, annual tax prep, holiday sales or anything else that you do on a regular basis. 

Even for the most routine tasks, a checklist can help ensure you don’t forget minor steps. Once your templates are perfected, you can more easily delegate those tasks to others (see tip No. 4). 

6. Batch Mundane Tasks

There are some mundane tasks that you can’t easily delegate — at least not at first. Still, that doesn’t mean you should let these less-important to-do’s dominate your workday. 

Instead, batch repetitive tasks and do them all at once — at specific times throughout the day (or week). Rather than continuously balancing your books every hour, you might set aside time at 5 p.m. to reconcile all the sales and expenses for that day. 

The same goes for: 

  • Checking your inbox 
  • Cleaning out folders 
  • Returning phone calls 

This approach is far more efficient, which is why many payment providers and the ACH Network use batch processing. 

7. Make Fun Mandatory

It’s hard to keep your sanity when running a business — even if you’re writing gratitudes and regularly reading books. 

That’s why you need to inject a little fun and creativity into your schedule. This isn’t something you should necessarily do every day, but it’s definitely worth blocking out time for on a weekly or monthly basis. 

We’ve written an earlier post about National Fun at Work Day to give you some ideas. We’ve also published an Entrepreneurial Movie List to help keep you inspired. 

Making a Habit a Habit

Starting a new habit isn’t easy at first. In fact, it feels unnatural and takes a lot of work. However, anything you do consistently every day will eventually become automatic — like brushing your teeth in the morning. 

Pick at least one of the habits outlined above and: 

  • Commit to doing it every day for the next 30 to 60 days 
  • Once it becomes routine, move to the next habit on your list 
  • Sit back and watch as your business becomes more profitable

Topics: Fun Posts, Small Business Tips

Welcome to the BluePay Blog!

Whether you're a small business, an enterprise corporation, a financial institution, or a software partner, we have created a series of blog posts to help you and your customers, learn more about the complex nature of payments. Take a look to learn how payments can help to simplify your business operation, and may even help to grow your revenue.

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