Good habits to live by in business

Habits shape our daily lives – from the ones we're proud of to those that come naturally, and yes, even the ones we keep quiet about. A well-known habit is the famous "5 AM club" of business leaders. Back in 2013, The Guardian reported that most CEOs were indeed early birds, springing out of bed at 5 AM without hitting the snooze button. However, research from the University of Westminster suggests that early risers (those up between 5:22 AM and 7:21 AM) actually show higher levels of stress hormones compared to their more leisurely-waking counterparts.

The key isn't following someone else's schedule – it's finding what works for you. Take Helen Steel, for instance. As the founder of Streamlion Consulting, a Berkshire firm that helps SMEs with funding and growth strategies, she's learned that effective habits are crucial in business. Whether it's morning routines, embracing technology, or building relationships, Helen has helped over 700 business owners secure more than £14 million in funding for their startup and growth plans.

Forming new habits isn't easy. It can take months to establish them, and they're surprisingly fragile – a bit of stress or fatigue can send us right back to our old ways. Look at New Year's resolutions: while countless people across the UK make them, a YouGov study found that only 28% manage to keep all their promises by year's end. Before setting a new habit, it's important to consider two things: how will it affect your life, and how sustainable is it really? Helen shares practical strategies to help your business develop better habits this year. 

Start your day with purpose

Successful entrepreneurs often begin their day with clear intentions. Having a clear morning routine sets you up for productivity – from waking up, to breakfast, the commute and entering the office door. A clear set of priorities or daily goals will also aid in shaping the direction of the day. This habit keeps focus sharp and productivity high.

Track and monitor finances

To avoid unnecessary stress, business leaders must develop a habit of regularly reviewing their finances, from cash flow to budgeting. This includes reviewing regular payments and when they are due. By monitoring your finances, you can ensure you stay on top of your financial health and make informed decisions.

Build systems, not just goals 

A successful business owner must be able to transform business objectives into repeatable processes – elevating goals to be repeatedly reached, whether this be daily, monthly, or for various clients. This can be aided by creating checklists and workflows that make success a natural outcome of your daily operations.

Set and review goals consistently

Make goal-setting a routine practice. Systems and long-term objectives can be broken down into small achievable chunks that will come together to form the overall goal. The company's key objectives can guide and structure its routine operational processes.

Build resilience

Develop habits that help you bounce back from setbacks, such as seeking feedback, learning from failures, and staying adaptable in the face of challenges. While this may be difficult at first, perseverance will pay off over time and strengthen your character.

Cultivate relationships

Dedicate time each week to meaningful network building. Focus on creating value for others first – whether through introductions, sharing insights or offering support. This can be easily achieved by regularly attending a networking group – whether online or in person.

Adopt continuous learning

Commit to lifelong learning by staying updated on industry trends, attending workshops, or reading relevant material. This keeps your skills sharp and your business competitive. A successful leader will never stop learning. Technology continues to evolve, political turbulence can lead to changes in processes and finances and consumers’ needs shift.

Leverage technology wisely

Technology can be used to free up time. Use tools like AI to streamline operations and capture knowledge within your team. Automating repetitive tasks and organising information are just two of the ways to boost efficiency.

Celebrate small wins

Acknowledge and celebrate progress, no matter how small. This motivates your team and keeps morale high. Small instances of praise and recognition, such as ‘well done’ and ‘good job’ can go a long way.

 Document processes and IP development

Make it a habit to document processes thoroughly, especially around IP development. A well-documented workflow reduces inefficiencies and ensures consistency across your operations. It will also aid with onboarding down the line.

 Business success often comes down to the power of good habits and staying consistent. It's fascinating how your habits as a leader can ripple through your organisation – clients and team members naturally pick up on your patterns, which helps build trust and confidence in your leadership. The beauty of effective habits is that they don't need to be complicated. Sometimes it's as simple as using a note-taking app or AI transcription tool to capture meeting notes, instantly freeing up mental space and time for other priorities. Or consider setting aside a specific day each week for financial review – this straightforward practice helps you stay on top of bills and expenses without feeling overwhelmed. Take a moment to step back and look at your current routine. Understanding what causes you stress is often the best first step in identifying which new habits could make the biggest difference to your business success.

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