Everyone dreams of having enough money and financial freedom to do what they desire; perhaps it is a cruise around the world, a dream home on the ocean or maybe it is just early retirement. Whatever the reason you want to have financial freedom it is important to recognize that daily habits are central to financial success. Here are the top 7 habits you must start living to have the wealth you desire.
- Daily Routine
A daily routine helps to keep structure and balance in your life. Budgeting time is often more difficult of a task that budgeting money for many entrepreneurs and small business owners. Well-designed daily routines also give you the freedom of knowing that tasks that must be completed are not pushed off or procrastinated.
- Eat Healthy/Exercise
Not only part of a good daily routine, eating healthy and regular exercise helps not only the body but the mind. Small business owners and entrepreneurs face a ton of stress each day and learning to combat that stress through a healthy diet and exercise is essential. Think of it this way, being healthy will allow you to enjoy the wealth.
- Organizational Skills
Organization comes naturally for some individuals and not for others. It can be learned. Take the time to create an organizational system that works for you. A regular routine in your business can help. In addition to a filing system, setting up essential tasks such as billing, deposits, payroll, account reconciliation and inventory for a specific day or days each month goes a long way in keeping you productive.
- Networking
Getting out and in front of potential clients, existing clients, vendors and other partners on a regular basis is imperative when you want to grow your business. Many small business owners do an initial push of networking at the launch of their business and then slowly just let it become less important. This can be a fatal mistake for your business. Creating revenue is central to your desire to be a millionaire. You need to keep networking to nurture existing relationships while building new ones.
- Goal Setting
Chances are when you launched your small business; you set goals for yourself and for the business. When was the last time you reviewed these goals and adapted them to what you want now? Setting both personal and business benchmarks helps you to identify areas of opportunity for growth and allows you to focus on these tasks to get to the finish line.
- Outsourcing and Delegating Special Skills
The problem many small business owners have is delegating. When we first launch our business, we are all in – we do the accounting, payroll, marketing, PR, handle the sales and even clean the office. We do what we have to do to get the business up and running. However, when the business has grown large enough to support outside help, we often scoff at it. It can be difficult to let go of certain tasks. This can be a problem. Entrepreneurs and small business owners should focus on growing their business and increasing revenue – not taking out the trash or doing other tasks that require special skills. Payroll, account reconciliation and taxes should all be outsourced to an accountant. Doing these activities yourself can end up costing you greatly in the future. Your time is the most important asset you have; don’t waste it by doing something that will take you days to complete, taking you off the task of growing your business.
- Ongoing Education
Keep yourself educated by attending workshops, seminars and conferences that are relevant to your business. Not only can the information be enlightening, it gives you the opportunity to network with others in your industry. In addition, self-education is important. Aim to read a book every week. Topics may include those that are directly relevant to your goals; organizational tips, motivation, marketing or whatever is of interest to you.
