In part 1 I shared the 1st 5 habits that are critical to develop if you hope to be successful in business. In this post I share the next set of habits that must be developed in order to succeed in business.
Habit 6: Start or Join A Mastermind Group
A mastermind group is group of people who share similar aspirations and goals in life and meet together on a regular basis to share ideas, strategies and best practices in order to achieve desired results.
If there is no organized mastermind group that you can affiliate with, Eben Pagan suggests that you form a group yourself.
He suggests getting together a group of 5 – 10 people most of whom have achieved a higher level of success than you.
In the much acclaimed book, Think and Grow Rich, Napoleon Hill states, “we can create success for ourselves and anyone can do it through the power of the mastermind.”
With the advent of social media and Skype, it has become so much easier to organize a mastermind group.
I’ve found LinkedIn groups and Facebook groups to be powerful sources for finding mastermind groups.
Action Step: Begin your search for a group 5 – 10 like minded people from various fields who are driven to succeed.
Ensure that most of them are smarter, have more experience or more successful than you.
Use social media sites such a Facebook and LinkedIn to find these people in your local area. Agree to meet regularly.
I managed to become part of a mastermind group when I joined wealthy affiliate for free.
Habit 7: Work In Your Flow
Working in your flow suggests spending 80% of your time doing 20% of the things that truly inspire you.
You are in your flow when you are feeling most inspired and that is where you are most productive.
Find a way to delegate all other tasks and stick to what you do best.
This suggests that you need to have a good understanding of who you are and what you are naturally gifted at, and use this to your advantage.
This will save you a lot of unnecessary struggle on your journey to business success. A tool that I recommend is the wealth dynamics test developed by Roger Hamilton.
By taking the test you will discover that there are different paths to business success and wealth creation and in order to succeed you need to choose the path that will allow you to be in your flow.
When you are in your flow you will be working on your business instead of working in it.
Habit 8: Know Your Numbers And Metrics
Don’t just rely on your accountant or financial adviser to interpret your financial statements and investment figures.
This is not to say that you need to have a degree in accounting or financial planning but you at least need to have a working understanding of the numbers and metrics that are relevant to your business.
You need to specifically become an expert in understanding and managing your cash flow.
Failure to do this will be disastrous to your business, especially in the beginning.
You can delegate the management of cash flow once you have a good enough system in place to manage it.
Action Step: Take a basic course in accounting and learn the metrics that are relevant to your business such as google analytics if you have your own blog or website
Habit 9: Strive For A Harmonious Life
In your quest for business success you need to keep a harmonious flow with all the other parts of your life.
Don’t seek for balance. Balance suggests a state of equilibrium where there is stagnation and no flow.
You need to seek for harmony.
You will never be able to spend equal amounts of time working on all the areas of your life such as your family, vocation, spirituality, finances, health, social life etc.
There will be times in your life when you will need to spend a lot more time with your family because of certain circumstances that may arise in your life.
At such times you may need to reduce the time you spend pursuing business interests in order to maintain harmony in your family.
At other times your health might require more attention at which point you may need to reduce the time you spend in other areas of your life before you drop dead.
One of the best ways to maintain harmony in your life is to strive to be present.
Being present means being focused on the task at hand. Don’t entertain business calls during family time, the call can wait.
When you are with your family, be fully present with your family.
Your pursuit to business success needs to complement and not suppress or stifle the other areas of your life so that you are able to live a richer, fuller and abundant life that is in harmony.
Action Step: Set some boundaries or ground rules to help you restore and/or maintain a state of harmony in your life.
Have a set time for your family, socializing, exercising etc…
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