Entrepreneurs around the world rely on a set of essential tools to help them succeed. Every multi-millionaire or billionaire has a set of tools that he or she can swear by. In today’s world of technology integrated with almost every aspect of our life, we take a look at how entrepreneurs make the most of the tools available at their disposal.
Introduction
Entrepreneurs use tools to their benefit. What we have seen is that they use tools differently than the average human person. Today we shall highlight seven essential tools used by entrepreneurs for their daily life.
Before we go ahead please keep in mind that the usage of the tools listed below may differ from person to person. Every individual is unique and hence the use of the tools differs.
Essential Tools for Entrepreneurs
1. ToDo List / Calendar
Many multimillionaires have their own calendars set. A calendar is what even a normal person uses. You might say - we use calendars too for arranging our meetings, scheduling them for the day and managing our work. But then why aren’t we millionaires yet?
Entrepreneurs use calendars to focus on their goals. They know what they want to achieve in a period of one year. They break down their goals into daily targets. This helps them to be focused.
Calendars are a planning tool for entrepreneurs. The calendar app is used to keep them focused and not deviate from their goal. If they are not going towards their goal they make adjustments and accordingly the calendar updates. Many multimillionaires and entrepreneurs also use To-Do lists in conjunction with calendar apps.
If you’re not comfortable with using a calendar app you can start with a To-Do app. There are quite many applications available for your smartphone. You can download one and try it for free. As you are comfortable with using a list you can then go on to manage a calendar.
2. Premium Smartphone and a Laptop
Yes, we all do have a smartphone and a laptop. Chances are you are reading this blog post on either a smartphone or a laptop. But then why have a premium smartphone or laptop.
When you are working on your business and ideas you don’t want your tools to break down in the middle of execution. We don’t say that you should buy the latest smartphone or laptop and but you should buy something that will be with you for a period of time.
If you are using a normal smartphone that is fine. But it is advisable to go for a premium device since it will be ready for taking up the extra load in case of situations where the tasks load increases. You don’t want your smartphone to freeze when you are sharing contacts in the meeting or your laptop to hang up in the middle of a conference call.
3. Health and fitness membership
Billionaires have their own gyms set up in their own homes. If you’re not yet a billionaire you can go for a good membership of reputed health and fitness gym or even an application available on your smartphone.
If you want to become wealthy and want to run your own business you need to stay healthy. Health is one of the factors that are the most looked after by multi-millionaires and billionaires.
We have found that the average billionaire wakes up around six in the morning. People such as Jack, the founder of Twitter and Barack & Michelle Obama get up at four in the morning. The morning routine defines the mindset for the day ahead.
4. Banking application
Entrepreneurs and multimillionaires want to know the amount of cash they hold. They want to know the liquidity they have at any given point in time. This helps them make better financial decisions regarding investments.
Entrepreneur and a businessman knows the status of their business and can make decisions accordingly. If an opportunity comes up which is good enough to invest in they should know if they are having the liquidity for it. Thus, a banking app serves as a planning tool for entrepreneurs.
Also, when the demand scales up, you can increase supply and production if you have liquidity. If you’re unaware of your status financially you might miss opportunities. You can also have access to special credit from your banking partners.
5. Virtual private network (VPN)
A VPN application is mostly found on the devices of many entrepreneurs and multimillionaires. It is used for security purposes by them and is an essential tool for many entrepreneurs.
A VPN app acts as an agent without disclosing your actual location. It helps you against unknown attacks and frauds which happen online. Many entrepreneurs travel and have to access different mobile and Wi-Fi networks. Simply, a VPN acts as a barrier between you and fraudsters.
You do not certainly want to lose your money to an attack on your personal devices. And you certainly do not want your passwords to be cracked or stolen. A VPN application is the best that you can get from the open market.
There are many well-known VPN applications available on different application stores and from the internet to download. The top ones charge you a nominal fee per month or year to provide you with the service.
5. Meditation
To destress and rejuvenate daily life, meditation is a key option. Many entrepreneurs meditate almost daily. This is not to be confused with the fitness regime.
To keep themself to the optimal level and to perform efficiently many entrepreneurs meditate. Meditation gives them a break from the hustle and bustle of their daily life. They meditate for at least an hour or so.
Some billionaires are known to take a break every year and retreat to their favourite meditation locations. SMBs and millionaires also take retreats from time to time in their life.
6. Books
Yes, books – a businessman's best friend. Billionaires such as Warren Buffet and Bill Gates read more than 50 books a year. Why do they do this?
Books are a powerhouse of knowledge. When you read a book you get access to the mind of the author. You know what he thinks and how he thinks. People who have walked the path you want to take have written about the journey.
Reading books about successful people helps you get insights. Many entrepreneurs have their own set of books in the form of personal libraries. They read and amass information daily.
Entrepreneurs are known to be book lovers and avid readers. They also tend to go and attend workshops and meets where information is shared. Thoughts are exchanged and ideas too.
7. Courses and workshops
Entrepreneurs and billionaires tend to increase their knowledge by taking courses and attending workshops from time to time. Learning is an ongoing process for them. Robert Kiyosaki, author of the Rich Dad Series and a successful entrepreneur endorses learning throughout life if you want to succeed as a businessman.
There are a lot of resources today from where you can gain knowledge. With advancements in technology and the passage of time, your knowledge gets redundant and even obsolete. It is of paramount importance to update yourself as an entrepreneur.
The courses and workshops are paid for. The money you spend on the courses will give you dividends by helping you make better decisions.
Conclusion
We have mentioned earlier that businesses cannot function in a vacuum. You require tools to help you and your daily economic and business activities.
Businessmen, entrepreneurs and multimillionaires do make use of tools to their best. They use the tools they have at their disposal differently from the common man. Thus, the results they achieve differently?
The ways they use the tools at their disposal make all the difference. We all have 24 hours a day but how we use them is what makes the difference. Sometimes, some people have exclusive access to some tools but then that's a different ball game.
Let us know which tools from the above list you are using and which you are going to use by sharing this article on social media. Is there a tool that is not there in this list that we have missed? Please let us know that too.
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