The power of small habits - 5 startup tips by Luke Tobin
Aug 20, 2024Luke Tobin, a 3x exited founder, most notably scaling Digital Ethos into a multinational marketing agency before its successful acquisition in 2022. Luke now heads Tobin Capital, a venture capital firm investing in transformative companies like SpaceX and Earthly.
He shared his 5 best tips for aspiring entrepreneurs with Meet.Capital. Here goes:
- The power of small habits: Success doesn't happen overnight. It's built through consistent, small improvements. Apply the 1% Better Every Day Rule to your entrepreneurial journey. With just 20 minutes of focused effort daily, you can make significant strides over time. Break down your big goals into daily micro-habits, track your progress, and celebrate small wins. Remember, consistency is everything in entrepreneurship.
- Growth mindset: Your mindset will make or break your growth as an entrepreneur. Learn from mistakes instead of fearing missed opportunities. Choose continuous learning over complacency, and take action instead of fearing change. A growth-oriented mindset isn't about wealth; it's about approaching your business with positivity, curiosity, and a willingness to learn and grow.
- The art of communication: As a leader, effective communication is crucial. Practice active listening, demonstrate empathy, and communicate with clarity. Provide regular feedback to your team, balancing positive reinforcement with constructive criticism.
- Build a strong network: Cultivate meaningful relationships across diverse circles, and give value to others without expecting immediate returns. As you build your business, surround yourself with people who genuinely celebrate your wins, encourage you to step outside your comfort zone, and offer honest, constructive feedback.
- Stay disciplined and avoid mediocrity: Entrepreneurship requires discipline and a commitment to excellence. Don't fall into the trap of mediocrity. Set high standards for yourself and your business. Be proactive rather than reactive – create opportunities instead of waiting for them to come to you. There's no accidental path to excellence. It requires intentional effort every day.