10 habits of a successful young entrepreneur
When Airbnb was founded, CEO Brian Chesky was 27 years old. At the age of 25, Steve Jobs was launching on the Apple market. Bill Gates was a shabby twenty when he founded Microsoft. All these examples make us understand that, despite the inexperience, there are young entrepreneurs who have the ability to achieve incredible things.
If you too want to be a successful young leader, you will need to acquire some common habits shared by successful young entrepreneur. They are 10, and we summarize them below.
1. Build a network of successful people
You do not go anywhere on your own. Who today has reached the highest peak of the business, as a young man has been able to exploit on one hand the teachings of great entrepreneurs, and on the other to build a network of people capable and competent enough to form a winning team? A very important aspect is that of networking: it allows you, in fact, to become part of a team of experts who will help you and will open the door to many professional opportunities to be taken on the fly.
2. Work out constantly to master your business
The business world is changing rapidly, and new technologies will bring more and more innovations and new ways of conceiving the business. For young entrepreneurs to be part of this evolutionary process is of fundamental importance, and to do so they must be constantly updated and informed. There are many ways to keep up with the times: from e-learning to corporate training courses, young leaders have plenty of tools to update themselves and to acquire new knowledge.
3. Listen more and talk less
Richard Branson, the British businessman who founded the Virgin Group, said: “You have to listen to more than you speak.” Effective leadership requires an understanding of the thoughts, feelings and needs of the entire work team. Based on this contribution, leaders will have to make important business decisions. Not listening, therefore, the results could be scarce.
4. Communicate with non-verbal language
UCLA professor of psychology, Albert Mehrabian, argues that much of communication derives from non-verbal signals. He says that about 55% of the communication is non-verbal, 38% is based on the tone of voice and only 7% is based on what is said through words.
Being a successful young entrepreneur means communicating effectively. To do this, you need to pay close attention to non-verbal signals: avoid, therefore, to have a lazy attitude even in the posture, always look in the eyes of your interlocutor and make sure you take on a safe and calm.
5. Adopts clear and precise guidelines
A young entrepreneur will certainly have many tasks to close during his working day. In order not to feel overwhelmed by commitments and risk being overwhelmed by stress, it is important to stay organized through the constant planning of all work priorities. An advice could be to adopt the time planning and control process called Time Management in the Eisenhower matrix, for which the activities are measured according to four criteria …
- Important and urgent – task to be done immediately and in person;
- Important and not urgent – tasks that can be programmed but to be performed in person;
- Not important and urgent – task to delegate;
- Not important and not urgent – task to be eliminated.
Adopting this prospect, in fact, it is possible to give the right importance to the activities to be done during the day and manage your time effectively.
6. Be humble
According to a Harvard Business Review study, humble entrepreneurs tend to be more effective. Humility in an entrepreneur refers to his ability to recognize both strengths and weaknesses. Those who adopt such an attitude will enjoy more of the trust of the whole team and therefore will have more chances to succeed.
7. Embrace the change
Some of the best business leaders are able to embrace change, even when change is very tough. We weigh to Elon Musk who managed to develop Tesla and SpaceX after leaving PayPal, or to Brain Chesky who was willing to turn Airbnb from a business focused on renters’ service to a housing platform all over the world. In practice, if the rate of change outside exceeds the rate of change within the company, the end is near.
8. Give and ask for feedback
Providing honest answers may be inconvenient at first, but the best organizations and top executives are able to ask and solicit feedback to encourage everyone’s work and increase productivity.
9. Find the right balance between private life and work
An effective time management means more productivity and happiness. As it is important to find the time to become a successful young entrepreneur, it is equally important to find time for yourself. An effective way to create work-life balance is to plan both work and personal activities on the same calendar.
10. Orientation towards long-term goals
E-mails, meetings and urgent activities can make it difficult to focus on important long-term goals. But it is important that, as a young leader, keep an early vision that privileges strategic thinking in everyday work.
In conclusion, young successful entrepreneur have the ability to shape their world and grow both personally and professionally. It is important to learn how to communicate, manage priorities and keep up to date. This will allow you to strategically drive your business towards success.