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The Importance of Creating Smart Habits as an Entrepreneur

Behm Consulting | 4 October, 2018 | Mastermind Groups, Sales

The saying goes, "Old habits die hard," but it's often because creating better habits to replace the bad ones can be extremely difficult. And if you're an entrepreneur, you may find that building and practicing smart habits that will grow your business is definitely easier said than done. 

Daily Habits Can Make or Break Your Business

This isn't an exaggeration, either. Some of the most successful millionaires today have key habits they practice daily in order to build influential and inspiring corporations all over the world. These habits often include: reading for self improvement, budgeting, defining goals, and a whole lot more. 

By not practicing good habits that lead to revenue growth, you are essentially wasting time and energy in ways that will likely keep your business stagnant. Or worse: run your revenue numbers into the ground. 

Creating Smart Habits: A Case Study in Colorado 

At Behm Consulting Services, we host mastermind coaching groups who meet regularly to improve their skills, build connections, and learn how to grow their business. Recently, we held a habits-oriented case study with our 50 of our members. 

Each business owner, entrepreneur or salesperson was asked to think about their typical work day, and pick out their "power hour," or the time of day they are most productive. For example, if they were a morning riser with loads of energy and creativity early in the day, they'd likely choose their power hour to be within the hours of 7 a.m. to 11 a.m.

Then we asked them to focus on one singular activity to grow their business during that time, often involving sales calls or other activities that directly impact revenue growth. We asked them to utilize this power hour method for at least 40 days straight in order to hopefully turn these actions into habits.

Out of the 50 who participated, the average length of time anyone kept working at this habit was around seven or eight days. The record was 15. Despite everyone seeing almost immediate positive results -- including landing bigger appointments with clients, being more productive, and making more money -- all of them dropped off fairly quickly and became consumed with older habits instead. 

What We Can Learn From This Study

 

Here are a few key takeaways from this experiment: 

1. New habits have the power to move our businesses forward in a very short period of time.  

When practiced regularly, our new sales-focused habits can have almost immediate impacts for the better. Although not guaranteed, there is a greater chance of improving your efficiency and effectiveness of running a business when you commit to these new habits. 

2. Old habits are hard to break, even when we see positive results from new smart habits.

The problem for this lies in the way our brain is wired: cognitively speaking, our brains have created patterns for old habits. In order to stick with new habits for good, it requires several weeks of challenging our brains to re-define those same old patterns. 

3. Our natural human behaviors directly impact our businesses. 

Here's the thing: habits are natural. As human beings, it's perfectly normal to have habits, because it makes our daily lives easier in a sense (less active thinking and decision making involved). 

However, once we recognize that the actions we repeat daily are slowing us down from reaching our business goals, we are better able to understand and fix the source of the problem. And one of the best ways to do just that? Accountability. 

Next Level Groups Can Hold You Accountable

 

Need a little extra support and reassurance to keep you on track with your goals and new habits? Consider joining one of our Next Level Groups! Our habits directly correlate with execution, which means they can either positively or negatively affect our bottom lines. Read more about the benefits of Next Level groups online or request a consultation to see if this is a good fit for you!