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5 Lifestyle Hacks To Becoming The "Perfect" Entrepreneur
Iniobong Uyah & Alex Christidis
May 12, 2024
In partnership with
Some entrepreneurs seem to have it all under control. They are never in a rush, always full of energy, up to date on what’s happening around them, and they seem to be winning in business and their personal lives. Calling them the perfect entrepreneur might be a stretch because as we all know, perfection is unattainable. But as the saying goes, if you aim for the stars and miss, you might land on the moon. The perfect entrepreneurs have a lifestyle that makes them highly effective. Here are five lifestyle hacks that will get you there.
1. Situational Awareness This is the ability to understand what is going on around you. It is easy to get overwhelmed by all the responsibilities that come with being an entrepreneur and this can make you lose track of your goals or yourself. This is where situational awareness comes in.
The first references to the term come from the U.S. Air Force, after the Korean War, and relate to the understanding of the enemy that a fighter pilot needs in an aerial dogfight. The pilot needs to know not only where the enemy plane is, but what its next move will be.
Situational awareness requires three things; you need to get the right information, then you analyze the information, and finally, you make projections based on your analysis.
Knowing this, here’s how situational awareness can help you become more effective. Start by becoming aware of your present situation, where you want to be in the future, and what you need to do to get there. You should ask yourself some difficult questions and figure out the answers. Such as, what are your present priorities, and do they align with your goal? Are you using your time well, or do you spend it on things with little value?
2. Have a plan and stick to it Having a plan is a common practice these days, but then we still find out so many people fail to achieve their goals despite having a plan. Clearly, there’s something they are not doing right. A few reasons why entrepreneurs fail to achieve their goals and struggle in business are;
They fail to stick to their plans,
They give up too easily
They get carried away by distractions, or
They fail to set goals properly
This is all too common with New Year's resolutions. Planning is ineffective without the discipline to see it through. This makes discipline one of the most important characteristics of effective entrepreneurs. But added to that list are grit and the ability to set actionable goals.
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3. Learn to prioritize and delegate When you become an entrepreneur, you seem to have stepped on a minefield. Many activities demand your attention and they all seem to be important. But don’t get carried away trying to do them all at once or alone. Two things you need to do if you want to become effective are learning to prioritize and delegate. Neither of these will be easy at first especially if you’re not used to doing them. To prioritize effectively, you need to list your activities in order of importance. A simple principle to follow is the 80/20 rule or the Pareto Principle. This rule states that 80 percent of the outcome we are looking for comes from 20 percent of activities. Once you identify which activities hold the most value (the 20%) relative to your goal, turn your attention to them and delegate the rest.
4. Establish RoutinesA routine is a set of actions or activities you repeat at a specific time. Routines have long been considered a recipe for success in any endeavor. Having a routine not only saves time, but also acts as a defense against indecision and mood swings.
A solid routine fosters a well-worn groove for one’s mental energies and helps stave off the tyranny of moods
Yes, the most successful people have routines. From athletes to artists and every successful professional you can think of. Indeed routine is what separates amateurs from professionals and elite performers. Consistency they say, is all about showing up daily and the easiest way to become consistent is by having a routine.
5. Learn to make good business decisions One bad decision can derail years of hard work and discipline. Entrepreneurs have to make several decisions per day, each one directly affects the business. Therefore, knowing how to make good decisions is an essential skill for entrepreneurs.
Various internet sources estimate that an adult makes about 35,000 remotely conscious decisions each day [in contrast a child makes about 3,000] (Sahakian & Labuzetta, 2013). This number may sound absurd, but in fact, we make 226.7 decisions each day on just food alone according to researchers at Cornell University (Wansink and Sobal, 2007). As your level of responsibility increases, so does the smorgasbord of choices you are faced with.
The article below dives in-depth into the topic of decision-making, outlining 7 steps entrepreneurs can follow to ensure their decisions are often right. The seven steps outlined in the article are;
Avoid making too many decisions
Have a process/routine in place
Proper risk management
Think long term
Don’t let your feelings get in the way
Sleep
Click the link below to read more
That’s all for now folks.
Until next time, stay inspired and keep chasing your dreams!
Cheers,
Alex