Becoming a successful entrepreneur does not just happen overnight. But you will find some common characteristics in most entrepreneurs who have navigated their way to the top, like Saahil. Saahil Kumar Chathrath is a millionaire entrepreneur, musician, and stock trader. Currently, he is a full-time musician and plays different instruments.
Career and Accomplishments
Saahil started with blockchain technology, besides working as a full-time musician. His prime sources of earnings are stock and forex trading. At 21, Saahil is the youngest entrepreneur to become a millionaire. He owns two software development companies; ISC LLC and Digilus Technologies LLC. Through his companies, he supports his clients with the latest technologies. He has been in this field for the last seven years and has worked with clients from the US, China, UAE, and Australia.
Never Be Discouraged by a No
It doesn’t matter how many rejections or knock-backs successful entrepreneurs receive. They are always willing to pick themselves up and try again. It takes tenacity to develop a business idea from the realms of the imagination into a profitable enterprise, according to Saahil. Many entrepreneurs fail due to a fear of failure. Entrepreneurs who succeed see failure as a learning experience and an opportunity for their business to excel. Entrepreneurs invariably make mistakes along their path to success. Taking full responsibility for your failures is what matters most.
Take Notes From the Best
Many of the most successful entrepreneurs of our time collaborated with experts in their field before going it alone. As per Saahil, a mentor can teach you a lot about your industry besides various aspects of running your business. Your mentor may have made mistakes in the past, but that makes them an ideal person to learn from since you can understand where they went wrong.
Successful entrepreneurs do not run successful businesses for ego purposes. This drive to improve and provide a better product or service keeps them passionate and ambitious. Entrepreneurs stop wanting to learn new things when they become complacent, allowing others to overtake them and leave them behind, said Saahil.
Move With the Times
Saahil firmly believes that entrepreneurs must be able to learn, adapt and adjust to new methods, processes, or technologies that can make their business more efficient to be successful. Businesses and consumers are constantly changing, and what worked a year ago, or even just a month ago, might not work tomorrow. Successful entrepreneurs never shy away from taking advantage of new opportunities to improve their offerings and better serve their customers and the market as a whole. The development of a product purely for your use is more like a hobby; however, a product developed to meet market needs must be able to adapt to changing conditions.
Invest in Long-Term Business Relationships
Relationships matter in business. It’s almost always preferable to do business with a company you find more compliant. A decisive factor in the long-term success of your business will be your ability to cultivate long-term relationships with like-minded entrepreneurs in your industry. There is no doubt that securing work from repeat customers is more beneficial than making new customers, as said by Saahil. Access to finance is also a significant factor in business relationships. As an entrepreneur, you want the best chance to see your company grow into a thriving enterprise. Therefore, you need to be highly investable. To secure the necessary funding for your startup, cultivate relationships with seed and angel investors, venture capitalists, private investors, and banks.
Motivate Others Around You
No entrepreneur can be the best at everything! Entrepreneurs should surround themselves with people whose skills complement their own. Hiring people who understand your vision and share your passion is the key to a successful business. Your team will succeed when you inspire them and invest in them.
Saahil plans to make even more money and give it back to his community soon. He hopes to expand his business operations in other countries as well. He realized that he also possessed artistic talents in addition to his business skills when he discovered music in his life. Saahil Kumar Chathrath, a trader, entrepreneur, and singer, has inspired people to try their best. In the face of obstacles, he maintained his commitment to become the success story he had always dreamed of becoming. You can follow him on his Instagram, Facebook, and Twitter at Millionairesaahil, Millionairesaahil, and Saahilchathrath.