Skip to main content

5 Bad Habits Entrepreneurs Should Drop [Habits Holding You Back From Business Success]

5 Bad Habits Entrepreneurs Should Drop [Habits Holding You Back From Business Success]
5 Bad Habits Entrepreneurs Should Drop

Our daily routines are what drive the course of our daily lives.

Humans are creatures of habit, and so these routines are formed over time through the habits we pick up from our environment and those around us.

The fact that our habits determine our daily routines, a massive part of our lives, it's important that we ensure we do things that benefit us physically and mentally too.

Unfortunately, most of our daily routines are not completely helpful or healthy—some entrepreneurs have developed bad habits that can negatively affect them and, in turn, their business.

In many cases, however, it's difficult to realise when we're doing something that's not moving us in the right direction.

Just like breathing, doing certain habits can almost feel automatic, done without any thought behind it.

That's why I wanted to discuss 5 bad habits holding entrepreneurs back from business success, that they should drop.

This article will help you realise when you're doing something counterintuitive to your success, and stop it before it gets any worse.

Mixing life and work

A big mistake new entrepreneurs, even seasoned ones, tend to make is mixing their personal lives and their work lives together.

Most entrepreneurs tend to work from home in the first place, however, after the pandemic hit our economies hard, almost all entrepreneurs had to adapt to working from home.

This, although beneficial in many cases, can be very harmful.

Our homes are our safe havens, the places where we eat, sleep, and enjoy our time with our loved ones.

Like I said, humans are creatures of habit, and so the longer we spend doing something, the more we become used to that thing.

Around a year ago, I stopped working in my small bedroom and moved downstairs at the dinner table.

Although there's more space, I essentially went from one bad medium to another.

See, when we work where we spend our time resting, eating, or doing other things, it becomes harder and harder to distinctively separate the tasks from each other.

When I used to do work in my bedroom, I found it hard to go to sleep, because it's where I also did my work.

However, now that I do all my work at the dinner table, it's hard to get out of work mode when I'm eating.

Mixing our personal and work lives together is detrimental to our success, and ultimately, our happiness.

Make it a habit to work somewhere you don't do anything else in - an office or library is ideal, and start to think less about work when you're in your downtime.

I know it's very difficult not to think about work, however, giving your mind a break from work will put you in a better position once you return to it.

Aiming for perfect

In today's day and age, starting a business, launching new products, and coming out with new innovative technology that revolutionizes industries can all be done at much faster rates than before.

With that said, one of the biggest blockers to an entrepreneur's success is their pursuit of perfection.

Aiming for perfection is no longer a strong business strategy.

There will always be a bigger, better, or more funded team ready to go underneath your nose at breakneck speed.

It's no longer about who has the best, most perfect products, it's about who's able to get in front of their audience the fastest, gain their trust, and iterate rapidly.

There's a new and improved way of doing business, many people understand it as the 'lean startup' strategy.

The lean startup strategy takes a lot of the traditional business practices and throws them out of the window - instead, the lean startup method takes a pacey, yet logical approach to building businesses and bringing about innovation.

One industry we're seeing speed succeed in is the NFT and blockchain space.

Many NFT projects and web3 solutions that are winning and capturing the majority of the market are those that are prioritizing speed over perfection.

As an entrepreneur, it's important we start to see the changes happening in front of us and adapt.

The more we string onto perfection, the harder it will be to catch up to what's going on in today's world.

Reid Hoffman, author of Blitzscaling and Masters of Scale, says that if you're not ashamed or embarrassed by your first product launch, then you launched too late.

Don't wait for perfect, good enough will do.

Biting off more than they could chew

Going back to the NFT space, it's very easy to see hundreds of people winning, making millions, and wanting to replicate this success.

People making NFT collections of apes are succeeding, people making doodle NFTs are succeeding, those who are making 3D collections are succeeding.

Those making software for NFTs are succeeding, and it can feel like you're sitting in the middle of a gold rush.

While you can go around and dip your toe into more things than one, it's crucial that you start one project, and see it through to success.

Many people start to become demotivated at the first sign of resistance when they start a new business venture and look for the next thing they should begin.

At the start of my entrepreneurial journey, and till not long ago, I was actively trying to balance many businesses at once.

The idea of 'serial entrepreneurship' may seem cool, however, it's very difficult to pull off.

To run multiple businesses at once, you need systems and processes in place for each business, teams to help you run and operate said businesses, along with capital to invest and spread across those businesses.

For many of us, having enough cash flow to invest in multiple different businesses isn't a luxury we can say we have.

5 Bad Habits Entrepreneurs Should Drop [Habits Holding You Back From Business Success]

Take a look at the illustration above - it's one you may have seen before in my blog.

Smart entrepreneurs will aim to be like the illustration on the left - investing all their time, energy, and resources into one thing and scaling it to the sky.

However, many of us believe that aiming to replicate the red illustration is smarter - putting our eggs in multiple baskets.

This will only result in scattered results across the board, at best, if not complete failure throughout.

Avoid falling victim to shiny object syndrome - focus on one thing at a time, as what you're currently doing can probably be the stepping stone into another project later down the line.

Taking the wrong advice

Every day, it becomes harder and harder to detach our lives from our digital lives.

Wherever we go online, we will find people giving advice. This advice, in many cases, isn't the sort of advice we want to listen to.

As entrepreneurs, we have massive goals that only a select few people around the world may understand.

Your friends, family, and loved ones may not understand why you're chasing this elusive goal of becoming successful.

No one in your family has ever gotten close to achieving the level of success you want to achieve, and so they don't understand why you might be different.

Instead of taking in any and everyone's advice, you should try and be very selective with the advice you really listen to.

Your next-door neighbour may not have the best advice because he hasn't achieved the success you want to achieve.

Your family and friends will not give you valuable advice because they may not have reached the level of success you're aiming for.

Instead, you should listen to those who have been where you are, and made it past the barriers you're currently facing.

These can be entrepreneurs online, writers, authors, coaches, mentors, and so on.

Standing on the shoulder of giants, as some like to call it, is the best way to get to where you want to be in life.

Read biographies of those who have come before us and learn about what they did, and how they overcome the obstacles in their way.

I wrote an article about the top 10 books Elon Musk recommends - you may be surprised about what you find.

Note: while your family and close ones may not be able to give you business advice, they could have life advice worth listening to. Don't rule them out completely.

Not taking breaks

While the internet and social media may glamorise the idea of working hard and hustling till you make it, this is one of the worst habits one can fall into.

No matter who you are, or what your goals in life are, taking breaks are essential for your success in business and life.

Entrepreneurs, no matter how mad we may be, are all human at the end of the day.

We still need rest, food, sleep, and breaks like everyone else.

While it may sound cool to work 24/7, every day of our lives, we must remember why we chose to become entrepreneurs in the first place.

In many cases, a lot of people become entrepreneurs to escape a life they once hated and trade it for a life of freedom and happiness.

Does working 24/7 without any breaks seem like a life of happiness to you?

For two years straight, I hustled my way into burnout - I realised the hard way that working without any breaks is detrimental to, not only my success but my health and mental wellbeing.

After taking my break, I realised how it's important to add some 'me time' and leisure time to my day-to-day routines.

Instead of working aimlessly like a robot, I now spend more time with family, with friends, and doing things I like to do.

Not only that, but I feel like I'm making more progress than I have ever made before - all while being happier than ever before too.

Working without limit isn't how you succeed, it's how you fail - we're not hamsters on a wheel, we're people.

Whenever you feel like you need a break, schedule one in. Thank me once you get back to work from your time off!

Those were 5 bad habits entrepreneurs should drop.

Did you find this article helpful? 

If so, please leave your thoughts in the comments below - let's get some conversations going.

Share this article on social media and with others, let's help more entrepreneurs realize their dreams!

Get involved in our NFT collection's Discord server now.

Join my Quora group where we're building the largest community of online entrepreneurs in the world.

Don't forget to subscribe for free and get the 1-page business plan template!

(Find me on social media if you don't receive it)

Till next time,

Mohamad

Comments

Popular posts from this blog

How To Write The Ultimate 1-page Business Plan To Go From 0 to $1 million

How To Write The Ultimate 1-page Business Plan To Go From 0 to $1 million I remember when I started Condensr , my very first tech company. It was drastically different than anything else I've ever tried. Before that, I've done things like dropshipping and e-commerce , I tried forex , and I tried running a marketing agency . Those things require a lot less research than something like a tech-based company . They're simple, replicable businesses (generally). However, Condensr was different. I spoke to a bunch of people about it and was worried people will steal my idea - it never really happened. Tracing back, I remember a common trend taking place when I spoke to people about the business. "Do you have a business plan" they'd all tell me. "no...?" I answered back confused. "I have a pitch deck ..." A business plan is a 30-100 page document that outlines everything your business is going to do over its lifetime to accomplish its goals . It

What Is An NFT And How Do They Work [Complete Guide On NFTs]

What Is An NFT And How Do They Work [Complete Guide On NFTs] If you've been on the internet at some point over the last year, you may have heard of this new thing that's taken the internet by storm. While a minority of people know what they are and how exactly they work, the majority of the world seems to be allergic to this new 'trend,' as they call it. You may have realised that I am yet to write a single article on my blog about NFTs and what they are exactly. Although I've released a youTube video describing them briefly , there was a lot of information withheld for the simple fact that NFTs were brand new to me. In general, I dislike jumping on trends and would rather make evergreen content , or work on evergreen ideas with long-term sustainability . However, after taking a closer look at the world of NFTs and learning more about their concept, it's starting to seem like NFTs are not just a 'fad' and actually something worth looking into. Every day

The Secrets Behind Dropshipping Success In 2022

Like MOST beginner entrepreneurs, I was instantly flooded with heaps of content - 'Start making money today,' 'Do this to get rich,' 'The best business model for overnight success,' and the list goes on. But in my early days, there was one that stood out like a sore thumb, one business model, which now that I think about, has lots of mixed opinions. If you read my first blog , you would know that this business model is none other than the infamous 'dropshipping' business model.  For those who are unfamiliar (which is highly unlikely), dropshipping is essentially this: Find a product that can be bought at somewhat low prices and sold for more Create a (Shopify) store to sell these products Market these products to get customers (You can learn more about this business model in my Dropshipping VS FBA video) Although this sounds VERY simple, this is the exact strategy that every single 'guru' in the dropshipping space will throw your way. In essence,