Building a successful online business from scratch is difficult, especially in the 2021 eCommerce climate where online sales have become a more competitive industry. According to Small Biz Trends, 62% of adults believe entrepreneurship is a good career, with 60% of entrepreneurs being between ages of 40 and 60. It’s never too late to start an online business and become an eCommerce entrepreneur with good habits.
With that, what do successful entrepreneurs have in common? Which success habits do they share among themselves and what can you learn from them in order to make your own business more profitable? Let’s discuss some of the habits of online entrepreneurs and why you should turn a new leaf in personal development in order to build a better online enterprise.
1. Set Ambitious Goals Instead of Smaller Ones
If you want your online enterprise to stand out, you need to be ambitious about your goals from the start. Short-term goals may be helpful at first, but your customers and B2B network want to see how ambitious you are as an entrepreneur quickly.
Instead of using a methodology such as SMART, choose to brainstorm your goals through mind-mapping and publish those goals front and center. Use your website and social media pages to let people know your goals for the future without a second thought. Let Bill Gates’ goal for Microsoft be a guiding star in your own goal-setting – “A computer on every desk, and in every home, running Microsoft software”.
2. Network with Your Online Peers
Networking is an essential part of growing a successful online business. You should make it a habit to reach out to new suppliers, large eCommerce platforms and entrepreneurs such as yourself through forums and social media.
Smart content marketing will also ensure that B2B leads reach out to you with cooperation offers, further expanding your online sales opportunities. Don’t isolate yourself and operate as if no other company exists in your niche – adopt the habit of becoming a team player.
3. Read Personal & Professional Development Books
Reading is an integral element of improving not only your business but your personal character and thinking. Given that you likely operate from a home office you will have time to devote to books and audiobooks on personal and professional development.
Platforms such as Book Depository for publications and Scribd for audiobooks are great choices for your development as an individual. You can also delve into online courses through platforms like Teachable Courses, Thinkific, Coursera, and Khan Academy to further grow your healthy learning habits. Even if you have time to read or listen to a chapter each day, it will accumulate quickly and your new habit will bear fruit.
4. Make Time to Exercise & Get Fresh Air
Regular exercise is essential for physical and mental health, as difficult as it may be to get started with it. According to Medium, 96% of people fail in their personal development goals due to strong bias toward putting time into seemingly abstract results. It’s true that it will take some time until you start to notice the results of your new habits of online entrepreneur.
The purpose of exercising and going for walks isn’t to lose weight or become fit in this instance – it’s to change your environment regularly. Being an online entrepreneur means that you will spend a lot of time indoors and act as a customer support agent, a salesperson or marketer. This can take a toll on your mental wellbeing and exercising regularly can mitigate that tremendously – take the time to exercise here and there.
5. Set a Strict Timetable for Resting
Sleep deprivation is a major factor in a person’s productivity, motivation and health. Even though you may be tempted to skip taking breaks or sleep shorter hours in order to work on your business, don’t do that. Instead, create a timetable for breaks and set a strict sleeping schedule for yourself. According to Fortunly, 81% of US entrepreneurs work overtime, with 89% working weekends which reflects on their motivation and productivity.
You need to be energized enough to work on your business at full mental capacity instead of being sleep deprived, nervous and exhausted without reason. You can set a timetable through your smartphone and simply try to discipline yourself into following that schedule in order to develop a healthier habit.
6. Analyze & Learn from your Failures
The mistakes you make as an entrepreneur shouldn’t be swept under the rug and forgotten about. You can learn a lot from the missteps and lapses in judgment you’ve made in regards to your online business. This knowledge will make you a better entrepreneur, decision-maker and person, so don’t let it go to waste.
Reflect on how much you’ve grown as an entrepreneur and try to understand why you’ve made a bad decision and how it affected you. Subsequently, think about what you would do differently in hindsight and you will be much better prepared for any future business crisis coming your way. It takes courage for a person to admit to and learn from their mistakes – it’s why this is a very helpful habit to adopt.
The Benefits of Improving your Habits as an Online Entrepreneur
Improving your personal and professional habits is hard work, but it can pay off in a number of ways. According to Entrepreneur, 13% of entrepreneurs said that their businesses failed due to a loss of focus, while 8% did so because of personal burnout. Having a good work-life balance is extremely important for online entrepreneurs who often cannot separate their personal life from professional obligations toward their eCommerce business.
Linda Ferguson, a Content Writer and Business Development Advisor, spoke on the topic: “The wellbeing and longevity of your company depends on you, as its CEO. You can look at here to get a good sense of how essays are written and to learn how to write down your goals effectively. Keep a notebook, a paper or a tracking app on you at all time and write, edit and format goals as you go. With good personal habits, your business will soon flourish.”
Once you select some of the above-mentioned habits and devote your time to them, you will quickly notice changes in your daily routine and behavior. New business ideas will pop up unexpectedly and you will be much more inclined to innovate, network and create for the sake of your enterprise. The concrete benefits of implementing said habits in your life include but are not limited to:
- Reach your goals as an entrepreneur more quickly and successfully
- Become a better person, both as an individual and an entrepreneur
- Become more charismatic and attractive for business-related networking
- Better satisfaction and identification with your work due to healthier habits
- Improve your online business’ income and long-term growth opportunities
Embracing Successful Habits and Reaping their Rewards (Conclusion)
Trying to adopt the success habits of online entrepreneurs won’t manifest overnight. Just like your online business, the habits you want to adopt will take time and patience to take root within you. However, once you get into the habit of repeating these things on a daily basis, your state of mind and entrepreneurial spirit will improve tenfold. Be patient with yourself and the habits of successful entrepreneurs will help you achieve great things with your online business.
Kristin Savage is a professional writer, editor and personal development coach. She is an active contributor to the online writers’ community and enjoys working on a plethora of writing projects, from blog articles to research papers. Her professional interests lie in HR trends, business development and online marketing among others. Kristin is a vegan activist and an avid reader in her spare time.