As we bid farewell to 2023 and welcome the new year, it’s time to gear up for a prosperous 2024. Here’s a sprinkle of wisdom from my two decades of steering a modest yet thriving tech consultancy: adopt these nine golden habits that could line your pockets and pave the way to entrepreneurial glory.
1. Rise with the Sun at 5 am “The early bird catches the worm.” This saying holds true in business as much as it does in nature. By starting your day at the crack of dawn, you seize the quiet hours for deep work without the buzz of daily distractions. It’s the secret pocket of time where productivity soars.
2. Balance the Books Regularly “A penny saved is a penny earned.” Keeping a keen eye on the numbers is the backbone of business success. Whether it’s tracking sales, managing cash flow, or scrutinizing margins, staying on top of your finances is a surefire way to stay profitable.
3. Make Personal Client Visits a Priority “People do business with people they know, like, and trust.” Despite the convenience of digital communication, nothing beats the rapport and trust built through face-to-face interactions. It’s a classic approach that still wins contracts and nurtures lasting partnerships.
4. Immerse in Reading and Listening “Knowledge is power.” Diving into books and podcasts not only provides an escape but also sharpens your understanding of human nature, business strategies, and history. Soak in diverse perspectives to stay informed and inspired.
5. Keep Fit with Squash or Cycling “A healthy body houses a sharp mind.” Entrepreneurs need stamina, both mental and physical. Regular exercise like squash or cycling fuels the body, clears the mind, and breaks up the monotony of the workday.
6. Embrace the AI Revolution “Adapt or be left behind.” AI is the new frontier in tech. Integrating AI tools into your business operations can significantly boost efficiency and keep you ahead of the curve. It’s a transformative wave that’s reshaping industries, and you don’t want to miss the ride.
7. Value Your Team “Take care of your employees, and they’ll take care of your business.” A small team means a tight-knit family. Investing time in understanding and rewarding your crew not only fosters loyalty but also fortifies the backbone of your business operations.
8. Consult with Your Accountant Biannually “Failing to plan is planning to fail.” Tax planning is an essential part of financial management. By meeting with your accountant, you can strategize to grow your enterprise while keeping the tax bite reasonable. Anticipation and preparation can save you a fortune.
9. Cherish Family Time “No success in public life can compensate for failure in the home.” Amid the hustle, never forget the ones who stand behind you. A supportive family and community can be the rock on which you build your business legacy.
Will these habits catapult you to the cover of Entrepreneur Magazine as a multi-zillionaire? Perhaps not directly. But as Benjamin Franklin said, “An investment in knowledge pays the best interest.” These tried and true habits have been my lighthouse, guiding me to profitable shores. They might just do the same for you.
