Development of habits, good and bad, can have a direct and signficant impact on your bottom line. Some of these we're very conscious of and continue because they produce results. Others we are unaware of and resulting impacts many times can be a mixed bag.
Management guru Peter Drucker has a number of great works of writing and teaching that have provided time tested feedback for management and business leaders. While significant resourdes are available at the Drucker Institute, a great short list of Drucker's five habits to avoid as an entreprenuer are available here as a great short list on SourcesOfInsight.com.
Key takeaways from this list include:
- Just because you aren’t the first, doesn’t mean it’s not a good idea.
- Go after the low-profit part of the market too, not just the “cream.”
- Customer’s don’t care how hard it is for you; they only pay for what they value.
- Beware of “premium” prices.
- Optimize over maximize
One habit that is crucial to both personal fullfillment and business success is networking and developing / nurturing of relationships. None of us are in this alone and whether it's new customers, partner organizations or future prospects, develoing and nurturing relationships DAILY is crucial to future success...and ultimately happiness.
Having a problem? Looking for a new approach? Reach out to your existing network for a solution or their recommendations on others to contact.
Inc.com dives into this needed habit and this article is worth a read.