If you are a business owner, you’re sure to be busy all the time, juggling a complex schedule and constantly trying to improve things. We all have bad habits, and business owners are no different. You might not be aware of yourself doing one of these five bad habits, but once you have noticed it, you can change it.
- Having a Terrible Password
With so many apps, programmes, and accounts, it can be so difficult to keep track of passwords. However, this can pose a real risk to your online security. Many of us should have better passwords, but as a business owner if you are hacked, then your whole company and your client database could be at risk. Once you have created better passwords by making them long, complex, and using a range of characters, it is worth updating them regularly too.
- Not Planning for Retirement
With such a hectic lifestyle, many business owners are so focussed on their business’s future, that they forget about their own. However, it is vital that you think about what your plans are for retirement and how you will support yourself, especially if you don’t have a company pension. One great way to provide for your future is to consider property investment. Not only will you generate extra income through tenants paying rent, but your property should also go up in value, so you can sell it and use the funds for retirement. Property investment specialists like RW Invest provide lucrative opportunities for business owners, with below market value properties and assured rental yields for a certain period.
- Resisting Change
Yes, you have worked hard and created an amazing business, but it can be tempting at times to keep things the way they are and resist changes suggested by others. You do know your industry inside out, but sometimes a business owner can hold a company back by resisting change. Try and be open minded when people offer suggestions and recognise that change can be a good thing for a business.
- Not Sleeping Enough
Many business owners and entrepreneurs have so much to do that they work late into the night and wake up early for the day ahead. Though sleep might not be a priority, not getting enough sleep can cause you to be more stressed, more forgetful and less productive. The phrase ‘I’ll sleep when I’m dead’ is often thrown around by entrepreneurs, but if you want to be at peak performance, you will need to get more sleep.
- Doing it On Your Own
When starting a new business, the idea of having employees you can delegate to can seem like a lifetime away but running a business on your own can sometimes be impossible. Recognise when you need to grow your team and try and hire people who have knowledge or skills that you don’t, so you can all utilise your strengths. Surrounding yourself with inspiring people can be far better than trying to do it on your own, with new ideas, opinions and perspectives helping with growth.