Hello, everyone. This is Alejandro Cremades, and today we’re going to be talking about
the proven habits of successful entrepreneurs. There are different patterns. Many of these
super successful entrepreneurs and even billion-dollar investors, they always share those same things:
the things that they do, the activities, interests, and some of those habits. Today, we’re going
to be covering those in detail to give you more of an insight as to what they’re doing
to get themselves inspired or get themselves up to date on certain things and to view and
understand from a strategic lens or mindset how to tackle the different things that they
have in front of them. With that being said, let’s get into it.
Super successful entrepreneurs and investors read, and they read a lot. You see it in people
like Warren Buffett. He spends most of the day reading. Also, Bill Gates, for example,
reads a tremendous amount of books a week. And even Elon Musk shared that he used to
read so many books growing up. So, at the end of the day, knowledge is power.
That knowledge is going to give you an edge over everyone else, and look; history repeats,
so you’re going to be able to find stuff that happened in the past and really view
and apply that and deal with whatever is in front of you in a powerful way.
Biographies of super successful people are a great way to start, and in many cases, I
have interviewed people in the DealMakers Podcast where they actually acknowledge the
fact that they studied a ton of bios of super successful entrepreneurs before even starting
their own business. Sleep: That’s another thing that super successful
entrepreneurs do. Without sleep, your mind and your mind are not going to work at the
same rate. It has actually been proven that the lack of sleep can actually trigger certain
illnesses. So make sure that you’re getting at least eight hours of sleep per day, and
that is something that super successful billion-dollar entrepreneurs actually do. You’ve seen this
in cases like Arianna Huffington or even other people that have talked loud about the importance
of sleep and how this is going to impact their productivity. So, keep that in mind.
The next thing is money management. That is something that successful people master. You
need to understand how much money is coming in and how much money is going out. How your
cashflows are impacted for the business, having a clear understanding on the numbers because
the last thing that you want, and this is something that we’ve seen multiple, multiple
times is that companies, unfortunately, fail in many instances because they don’t have
a clear grasp on the numbers, and they end up running out of money and falling off the
cliff. So, having a clear understanding of where you’re at and where you’re heading
is super, supercritical to the success, and in many instances, you would see that some
of the best CEOs are those that used to be CFOs in the past.
Exercise is another one. You’re going to see many instances, there are so many pictures
out there of Mark Zuckerberg with his security guards training and running, even if he’s
struggling. The thing is that being able to exercise, it is proven that it increases productivity
and the efficiency of your brain, so it’s going to give you an edge being able to exercise.
It’s not about sitting down at the desk all day. It’s about getting up; it’s about
doing some exercise, too, and really burning some of those endorphins that you have. Again,
exercising is definitely critical and something that you want to do, and something that you
see many, many CEOs and super successful entrepreneurs, where they’ve talked in multiple instances
on how their morning routine is, on how they get up, on how they have their breakfast,
and then how they go out and run or they play whatever sport that they enjoy.
They avoid burning out. Burning out is the absolute worst because the body is like a
machine. You only have one. So, if you’re overdoing things, if you’re not exercising,
if you’re not sleeping, you are going to end up burning out. Burning out looks like
you’re in bed, you’re waking up, and you literally can’t get out of bed; you’re
so exhausted, so tired, and you need to avoid getting to that point. So, always carve time
to relax, to spend time with the family, to be able to disconnect. Burning out is something
that those super successful entrepreneurs keep in mind.
Setting big, clear goals is a big one. You need to know where you want to see yourself
and where you want to see the business in maybe five or ten years from now, and then
what you do is, you reverse engineer the process. Essentially, where are you today, and what
are the most immediate steps that you need to take in order to get there. This is something
that super successful entrepreneur master. You’ve seen this day in and day out where
they and their team are fully aligned. Let’s say in ten years from now, they are all fully
aligned on that vision, on how they see their world, and how they see themselves in that
world in maybe five or ten years from now. Also, focus on high-value tasks. Always, super
successful entrepreneurs, you’re going to hear it from them. They always say, “You
need to understand how to say no.” What things are going to be a distraction, and
what are the other things that are going to help to move the needle? If there’s something
that is just about looking good, like an interview or something like that, that doesn’t impact
directly the needle of that metric that you’re trying to push to continue the growth and
the health of your business, you need to say no. You need to put everything into priority,
in order of tasks from top to bottom, and tackle the ones that are high priority first,
and then also avoid the distractions. You need to be focused on that execution and to
nail it on achieving the milestones in the next 18 to 24 months.
They create super successful networks. This is one of the incredible things that super
successful entrepreneurs do. They are super pros when it comes to networking and networking
with people that’s done in a very strategic way. For example, if they know that in 18
or 24 months they’re going to need to raise money, what they would start to do is, now,
rather than waiting until 17 or 18 months have passed, they start building now their
network of potential targets that are going to give them that money. If they, for example,
need a Head of Engineering in 10 months, if it’s today, five months ago, they already
started recruiting or interviewing people that could be a fit. You don’t wait until
the last minute to know who you’re going to be calling, so that when that time comes
of actually needing to pull the trigger, you already have the contact; you already know
who you’re going to be reaching out to, and you’re not waiting. Otherwise, it’s
going to be too late. Creating successful routines: That’s another
thing that super successful entrepreneurs master. You can see, for example, Jack Dorsey.
He’s managing right now as the CEO of Square and also Twitter. There are many articles
that are published that cover how he’s able to diversify his time, and how every day from
a certain time to a certain time, he’s allocating his time to certain tasks. That’s the way
that he’s able to balance two very high and demanding roles and positions.
They’re always seeking to fail. That’s another one of the things that those super
successful entrepreneurs have in common. In the end, failing is okay. It’s all about
getting back up, being able to reflect from it and continue moving forward. That’s essentially
what you should be doing and what they do as well. They are pushing for the limits,
and if something breaks, it’s totally fine. Even people like Mark Zuckerberg had said
that “if you’re not breaking things, you’re moving too slow.”
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