In Business

I spend a lot of time thinking about new business; new ideas, new products, new methods, etc. For better or worse, it has become somewhat habitual- perhaps too routine. Entrepreneurship is a fascinating concept, a challenging process, and sometimes a condition that merely results in mental exercise. But recently while reading an article by Geoffrey James of inc.com on the “5 Habits of Great Entrepreneurs” I became even more interested in the science and theory behind this popular notion. What struck me wasn’t the “what” or “why” that is so often discussed, but the “how”. James outlines 5 habits that contribute to successful ventures, my brief summary follows:

1. Believe – Vision goes a long way…especially when the odds are against you.

2. Empathize – Not everyone sees things the same way. Accepting that gives you a leg up, and another perspective.

3. Observe – See, hear, know; then use.

4. Obsess – Things change and evolve. Keep up, do it well, then do it again.

5. Win – It’s not over until you throw in the white towel. Hang in there.

As fun and interesting as coming up with the ‘next big idea’ can be, understanding the various factors and habits that go into making those ideas actually work is perhaps an even more worthwhile mental exercise that can lead to real practical results. Bottom line, that overnight success we all dream of sometimes takes a considerable amount of thought, planning, and effort.

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