10 Amazing Business Habits

In my 16 year stint as an Entrepreneur, I've learned, forgotten, and learned again a lot of great ideas and business habits for Entrepreneurs. Recently I decided to re-commit to some of the best ideas I've discovered. Here are my top ten best habits I'm striving to implement:

1. Have a clear, well defined mission. It can't just be, "I wanna make money!" You have to identify your higher purpose and passion, and take that to the marketplace.

2. Build a winning team. Be slow to hire, quick to fire. Never hire out of convenience. Build the best quality team you can. HIre above yourself.

3. Be frugal. Great businesses aren't great because of the quality of office furniture or corporate retreats. If your people don't think you're frugal, you're spending too much money. Try going for a day or a week without pulling out the company credit card. It's not usually the big expenses that sink businesses, but the many little ones that fly under the radar. Remember, a dollar saved is a dollar made- but if you have a 20% profit margin you have to bring in five dollars to make a dollar. The easiest profits are the dollars you don't spend.

4. Be organized. Keep a daily schedule, and review the next day at night. Visualize all of your next day plans achieving best possible outcomes. Keep a neat work area, e-mail box, and desk top.

5. Build a Database. Your database is your true business asset. Have an aggressive plan for creating new leads daily. Collect all your leads into an online managment solution that allows you to e-mail, call, and track every prospect and customer. Categorize your best prospects, partners, and investors. Capture every business card, e-mail, and detail on every new person you meet, whether online or offline. Make a personal rule that you never have to ask somebody for their info twice. Be an aggressive lead capturing machine!

6. Use a dream board. Find visual representations of everything you want, and put them on a small poster or corkboard. Spend time daily looking at each item, then vividly imagine how you will feel when you have achieved your goals. Imagine you have already achieved each goal.

7. Meditate. Even just 10 minutes of "shut eye" time in the afte
oon can make a big difference. Learn to be still and stop the flow of endless thoughts and chatter. Read "The Power Of Now" by Eckhart Tolle.

8. Read. Read positive, uplifting self improving literature every day. The world is full of negativity and discouragements, you need to fill your mind with winning thoughts and ideas. Read books that motivate, inspire, and uplift. Read first thing in the morning if possible, to set the tone for the day.

9. Be a student. Learn from every experience. Study business, success, and your industry. Subscribe to the right blogs and magazines. Listen to interviews with your successful competitors. Ask questions. Be humble. Remember, when you stop learning, you stop.

10. Shrink your technology gap. The difference between the technology available to build your business, and the technology you are using, is called your "Technology Gap." You should be aggressively shrinking your technology gap. In 1950 the top 500 wealthiest people were in industry. Today, the vast majority are in technology. Technology is key to success in every business. Whoever has the smallest technology gap wins.