This video emphasizes the importance of reading and getting adequate sleep as crucial habits for entrepreneurs aiming for success. It highlights examples of highly successful individuals who prioritize these practices.
What this video covers
Super successful entrepreneurs and investors read, and they read a lot. You see it in people like Warren Buffett. He spends most of the day reading. Also, Bill Gates, for example, reads a tremendous amount of books a week. And even Elon Musk shared that he used to read so many books growing up.
Biographies of super successful people are a great way to start, and in many cases, I have interviewed people in the DealMakers Podcast where they actually acknowledge the fact that they studied a ton of bios of super successful entrepreneurs before even starting their own business.
Sleep: That’s another thing that super successful entrepreneurs do. Without sleep, your mind and your mind are not going to work at the same rate. It has actually been proven that the lack of sleep can actually trigger certain illnesses. So make sure that you’re getting at least eight hours of sleep per day, and that is something that super successful billion-dollar entrepreneurs actually do. You’ve seen this in cases like Arianna Huffington or even other people that have talked loud about the importance of sleep and how this is going to impact their productivity. So, keep that in mind.
The next thing is money management. That is something that successful people master. You need to understand how much money is coming in and how much money is going out. How your cashflows are impacted for the business, having a clear understanding on the numbers because the last thing that you want, and this is something that we’ve seen multiple, multiple times is that companies, unfortunately, fail in many instances because they don’t have a clear grasp on the numbers, and they end up running out of money and falling off the cliff. So, having a clear understanding of where you’re at and where you’re heading is super, supercritical to the success, and in many instances, you would see that some of the best CEOs are those that used to be CFOs in the past.
Exercise is another one. You’re going to see many instances, there are so many pictures out there of Mark Zuckerberg with his security guards training and running, even if he’s struggling. The thing is that being able to exercise, it is proven that it increases productivity and the efficiency of your brain, so it’s going to give you an edge being able to exercise.
They avoid burning out. Burning out is the absolute worst because the body is like a machine. You only have one. So, if you’re overdoing things, if you’re not exercising, if you’re not sleeping, you are going to end up burning out.
Setting big, clear goals is a big one. You need to know where you want to see yourself and where you want to see the business in maybe five or ten years from now, and then what you do is, you reverse engineer the process.
Also, focus on high-value tasks. Always, super successful entrepreneurs, you’re going to hear it from them.
They create super successful networks. This is one of the incredible things that super successful entrepreneurs do. They are super pros when it comes to networking and networking with people that’s done in a very strategic way.
Creating successful routines: That’s another thing that super successful entrepreneurs master. You can see, for example, Jack Dorsey. He’s managing right now as the CEO of Square and also Twitter.
They’re always seeking to fail. That’s another one of the things that those super successful entrepreneurs have in common. In the end, failing is okay.
