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To be successful in business and finances, your outlook on success is a big factor if you will achieve success. In studying influencers and colleagues, I’ve found three key ways that successful people think, solve problems, and approach life differently than others.
Three Traits and Habits of Successful Entrepreneurs
# 1- Successful people don’t feel jealous of others’ success.
They know that the pie of success is infinite. With the abundance mindset, successful people are happy about the success of others and are even willing to help them succeed. Being around those who have already succeeded in similar goals can actually be a great motivator in accomplishing your own goals.
- Business – While there is always competition for business, figure out what makes your business unique and showcase those benefits to the customer. During my financial coach training when I started my business, I met another financial coach from my hometown. We encouraged each other as we went through the initial stages of starting our businesses, shared ideas and tips, and didn’t feel threaten by each other’s growing business. In fact, we later focused on different target audiences, so there wasn’t any competition for clients, and we even referred business to each other.
- Finances – According to Thomas Stanley’s research for The Millionaire Next Door, 80% of millionaires are self-made millionaires. Therefore, the majority of the wealthy didn’t inherit the money. I have financial bloggers in my community share their monthly income report in blog posts. They don’t do this as a way to brag, but to show their readers and followers how they started from nothing and that their success was not achieved overnight.
#2 – Successful people share ideas.
Successful people get together with their colleagues and peers to discuss what’s working and what’s not working. They ask questions and aren’t afraid to admit that they don’t know, what they don’t know. It’s faster to learn from others’ mistakes than to have to go through it yourself.
- Business – I belong to FinCon, a group of like-minded financial professionals, entrepreneurs, and bloggers, and it has been amazing to see how everyone is willing to share ideas and help each other with business questions and challenges. It has even resulted in free publicity and marketing, as many have quoted and linked to each other’s sites in articles and blog posts.
- Finances – Don’t assume that everyone has debt and that it is a way of life. Back in 2008, one of my husband’s friends told us that he bought a used car in cash. After hearing that, I started paying for my cars in cash, breaking the cycle of believing that a car loan is normal and necessary. If your finances are not where you’d like them to be, find others who are a few steps ahead of you and learn from them. One podcast that I’ve recently started listening to is ChooseFI, which has great ideas and financial tips.
#3 – Successful people are lifelong learners.
There are three reasons why we read – 1) for information 2) to further our knowledge 3) for pleasure. Most successful people read for information and to further their knowledge.
- Business – There is so much to learn about starting and maintaining a business, and there are both free and paid training and information out there. The business world is always evolving too, so it’s always good to keep learning the new trends and reading in areas that you will help grow or support your business. When influencers who I follow suggest books or courses, I almost always go and buy the book or course. In fact, when Pat Flynn from Smart Passive Income sent emails recommending to his readers to enroll in Michael Hyatt’s Best Year Ever course (which he purchases every year), I bought it because I trusted Pat. I’ve taken Pat’s 1-2-3 Affiliate Marketing course, and have learned so much (and earned more money) that I value his business advice and personal recommendations. (*Note – Michael Hyatt’s course is currently closed, but you can check out the Best Year Ever book.)
- Finances – There are many ways to improve our financial situation and use that money to support the lifestyle we want. With new tools, companies, and tax rules, it’s always a good idea to keep seeking out the latest financial advice.
Based on this list, do you have what it takes to be successful? If not, what do you have to change?