10 Habits That Separate Rich and Successful Founders From Wannabe Entrepreneurs Successful entrepreneurs adopt rich habits. Unsuccessful entrepreneurs ignore their habits.
By Tom Corley Edited by Micah Zimmerman
Key Takeaways
- Success stems from consistent daily habits, not luck.
- Persistence and a willingness to learn set high achievers apart.
Opinions expressed by Entrepreneur contributors are their own.
Success isn't an accident. It's the result of deliberate, consistent habits practiced day in and day out. Over the course of my five-year Rich Habits study, what I discovered was a clear divide in habits that successful entrepreneurs embraced and unsuccessful ones ignored.
If you're an entrepreneur aiming to build a thriving business, these ten habits can set you apart from the pack.
1. Successful entrepreneurs dream big and set goals
Successful entrepreneurs are dreamers who take massive action on their dreams. In my study, 80% of wealthy entrepreneurs had clearly defined goals, compared to only 12% of those struggling financially. They write down their dreams and break them into daily tasks.
Unsuccessful entrepreneurs, on the other hand, lack focus or have vague ideas and are unable to commit to a plan of action.
2. They build relationships daily
Relationships are the true currency of the successful. Successful entrepreneurs dedicate time every day to nurturing their network, calling clients, mentoring employees or connecting with mentors. My research showed that 88% of wealthy entrepreneurs, on a daily basis, actively built relationships, while only 17% of the unsuccessful did the same.
A simple hello call, life event call or happy birthday call can open doors to partnerships or opportunities. Unsuccessful entrepreneurs often isolate themselves, neglecting the power of a strong network.
3. They read to learn, not to escape
Successful entrepreneurs are lifelong learners. In my study, 85% of the wealthy read 30 minutes or more daily, focusing on self-improvement, industry trends, or business strategies. They consume books by other entrepreneurs to gain insights.
Unsuccessful entrepreneurs, by contrast, read mostly for entertainment or not at all — only 11% engaged in daily self-education reading.
Related: 7 Books Most Millionaires Read Before They Turn 30
4. They take calculated risks
Successful entrepreneurs do not take speculative risks. Rather, they take what I call analytical risk — they analyze, research and weigh options before taking action. In my study, 91% of wealthy entrepreneurs said they took analytical risks, often piloting ideas on a small scale before rolling their product or service out to the world.
Unsuccessful entrepreneurs either avoid risks altogether, are paralyzed by fear or take speculative risks, not doing the homework, like successful entrepreneurs do. This causes mistakes and costs them precious working capital.
5. They wake up early and maximize their day
Successful entrepreneurs start their day early — 67% of the wealthy in my study woke up at least three hours before their workday began. They use this time for planning, exercise or creative thinking.
Unsuccessful entrepreneurs often sleep in or waste mornings, leaving them reactive instead of proactive. Getting a head start gives successful entrepreneurs an edge in productivity.
6. They focus on one thing at a time
Multitasking is a myth. Successful entrepreneurs practice single-tasking, pouring their energy into one project or goal until it's complete. My research found that 81% of wealthy entrepreneurs focused on one major objective at a time, compared to just 19% of the unsuccessful.
7. They want feedback and embrace criticism
Successful entrepreneurs actively seek feedback from customers, mentors, and peers to improve their products or services. In my study, 79% of wealthy entrepreneurs valued constructive criticism, using it to refine their approach. Unsuccessful entrepreneurs often take feedback personally or avoid it altogether, missing opportunities to grow. Embracing criticism isn't easy, but it's a hallmark of those who succeed.
8. They exercise and prioritize health
Running a business is a marathon, not a sprint. Successful entrepreneurs know that physical and mental health fuel their performance. My research showed that 76% of the wealthy exercised aerobically for 30 minutes or more daily, compared to only 23% of the unsuccessful.
They also eat healthier, avoiding junk food that saps energy. Unsuccessful entrepreneurs often neglect their health, leading to burnout or diminished focus. A strong body supports a strong business.
Related: 9 Habit Stacking Routines to Boost Your Productivity
9. They persist through adversity and failure
Failure is inevitable in entrepreneurship, but successful entrepreneurs view it as a learning opportunity. In my study, 84% of wealthy entrepreneurs said they had faced significant setbacks but kept going, pivoting when needed to alter their strategies or processes. Unsuccessful entrepreneurs often give up after a single failure, letting fear or discouragement take over. Persistence turns dreams into reality.
10. They control their emotions
Entrepreneurship is an emotional rollercoaster. Successful entrepreneurs stay calm under pressure, making decisions based on logic rather than on emotion. My research found that 94% of the wealthy practiced emotional discipline, compared to just 15% of the unsuccessful. Successful entrepreneurs stay composed and solution-focused. Unsuccessful entrepreneurs let emotions drive their decisions, leading to mistakes.
Success as an entrepreneur isn't about being the smartest or the most connected. It's about doing what unsuccessful entrepreneurs won't.
Pick one habit from this list and commit to it for 30 days. Track your progress in a journal, just like 62% of the wealthy in my study did. Small, consistent steps will transform your business — and your life. The Rich Habits aren't magic; they're a blueprint. Start building yours today.
