Discipline is one of the most important traits for an entrepreneur. It’s what separates those who achieve great success from those who fall short. In fact, many of the most successful entrepreneurs and innovators of our time credit discipline as a key factor in their achievements. Let’s take a closer look at some of these successful individuals and how their discipline helped them to reach their goals.
It Helps You Stay Ahead of The Pack
Elon Musk, the founder of SpaceX and Tesla, is known for his intense work ethic and unwavering focus. In an interview with Bloomberg, Musk said, “I work 100 hours a week. If other people are putting in 40-hour workweeks and you’re putting in 100-hour workweeks, then even if you’re doing the same thing, you know that you will achieve in four months what it takes them a year to achieve.” This level of discipline and commitment to his goals has allowed Musk to achieve incredible success in both the space and automotive industries, while now he continues to infamously disrupt the world of social media.
The Power of Persistence
Another example of devoted discipline in action is Sara Blakely, the founder of Spanx. Blakely has said that her discipline and determination played a major role in her success. In an interview with CNBC, she said, “I am where I am because I didn’t give up. I had discipline, even when things were tough.” Blakely’s relentless focus and determination allowed her to turn an idea for a simple undergarment into a billion-dollar business.
It Gives You The Power to Say No
But discipline isn’t just about working long hours or sticking to a routine. It’s also about having the discipline to say “no” to distractions and opportunities that don’t align with your goals. Oprah Winfrey, the media mogul and philanthropist, has spoken about the importance of discipline in making difficult decisions. She once said, “The big secret in life is that there is no big secret. Whatever your goal, you can get there if you’re willing to work.” By having the discipline to stay focused on her goals and make tough decisions,
Discipline Leads to Habit Formation
Warren Buffett, the legendary investor and CEO of Berkshire Hathaway has long been known for his disciplined approach to investing and his adherence to a set of principles that guide his decision-making. He is always stressing about the importance of developing good habits and having the discipline to stick to them, even when it’s difficult.
Discipline is The Key To Growing and Maintaining A Steady Upwards Trajectory
Discipline is not just important for achieving success in business, it’s also essential for maintaining it. Apple’s late co-founder Steve Jobs was always known for his relentless focus and discipline, and this approach helped him to create one of the most successful companies in history. But even after achieving such incredible success, Jobs didn’t rest on his laurels. He continued to push himself and his company, always striving for excellence. This discipline helped Apple to stay ahead of the competition and remain a leader in the technology industry for years to come. That’s one of the main reasons why Apple has been the most profitable company in the world year after year, just like it was in 2022, yielding just under $100 billion of net income.
Managing Risk and Making Smart Decisions
Richard Branson, the founder of Virgin Group, has spoken about the importance of taking calculated risks and having the discipline to stick to a plan. He once said, “I don’t think of work as work and play as play. It’s all living.” Branson’s approach to risk-taking is about weighing the potential rewards against the potential downsides, and having the discipline to stick to a plan even when things get tough.
The Power to Pivot and Adapt
In addition to discipline, successful entrepreneurs also possess the ability to pivot and adapt to changing circumstances. This requires discipline, but it also requires a certain level of creativity, innovation and willingness to say “yes” to risk. The founders of Airbnb started their company as a way to rent out air mattresses in their apartment to people attending a conference in San Francisco. When that idea took off, they quickly pivoted and expanded their business to become one of the largest online marketplaces for short-term rentals.
So, how can aspiring entrepreneurs develop the discipline they need to achieve success?
One way is to set clear goals and create a plan to achieve them. This plan should include specific milestones and deadlines, and it should be revisited regularly to ensure that progress is being made. It’s also important to stay focused on the most important tasks and to avoid distractions. This might mean setting aside specific times of the day to check email or social media, or it might mean turning off notifications during work hours.
Another way to develop discipline is to build good habits. This might mean waking up early to exercise, meditating to clear your mind, or setting aside time each day to read and learn. By building these habits and sticking to them, you’ll develop the discipline you need to achieve your goals.
The Bottom Line
Discipline is a critical trait for any entrepreneur. It’s what allows them to stay focused, make tough decisions, and take calculated risks. The successful entrepreneurs we’ve looked at in this article are all examples of the power of discipline, and their stories offer valuable lessons for aspiring entrepreneurs. If you’re an aspiring entrepreneur, commit to developing your discipline and building good habits. It could be the key to achieving your dreams and creating a successful business that makes a difference in the world.
