Every entrepreneur has a different path to success. However, they should always be ready for failure and criticism, and they should always be learning and improving themselves. Succeeding as an entrepreneur does not need a holy grail, but you can certainly take a lesson or two from experts like Saahil to save your time. Saahil Kumar Chathrath is a millionaire businessman, musician, and stock trader. His current profession is music, and he plays different instruments full-time.
Businesses and Career
He has two software development companies; ISC LLC and Digilus Technologies LLC. These companies provide services related to the latest technologies. Having worked with clients from the US, China, UAE, and Australia, he has served in this field for the last seven years. Saahil began working with blockchain technology as well as being a full-time musician. He makes most of his money by trading stocks and forex. With a net worth of more than $1 million, Saahil is the youngest entrepreneur to hit this mark.
Plan Your Business
Your business plan helps you visualize how your business will operate and helps you put your ideas on paper. According to Saahil, you should at least answer the following questions about your business in your business plan:
- How does your product or service work? What is your priority?
- Where will you operate your business? In five years, where do you want to be?
- What makes your product/service worth buying?
The more questions you can answer, the more clarity you will gain about running your business.
Do Not Be Wasteful
Think twice before you buy anything or sign a lease. If you want to determine whether an expense is necessary, refer to your business plan. Consider how it will contribute to your success and whether it will incur additional costs, such as maintenance or depreciation. Strive to do more with less and find ways to cut costs, such as bartering with other companies, said Saahil.
Stay Up-To-Date
Learn as much as you can. You can take classes online or in person. Saahil highly recommends reading books written by successful entrepreneurs. Whether they are in the same field as you or not, you can learn a lot from both their successes and failures. You can learn how to resolve your dilemmas by observing how others solve problems.
Teamwork Makes the Dream Work
A reliable and competent team is essential to every successful business. Working with a skilled accountant or hiring an online assistant can be helpful. Since sales are the lifeblood of every business, Saahil recommends hiring someone who can either increase sales or make the sales process more efficient to facilitate revenue. He also recommends hiring people who can handle many things at once. You need to hire people who share your vision. It will help you achieve your goals. Even though different team members may bring unique skills to the table, the entire team should always agree on the vision and values of the company.
Balance Your Mind, Body, and Soul
Saahil firmly believes in taking time to declutter your mind and eating healthy. Your health matters just as much as the bottom line of your company. Try to unplug from work by going for a walk or exercising to release some endorphins (the natural feeling-good chemical in your body). Chronic stress is unhealthy. If you never unplug, your business will likely suffer.
Use Free Marketing Tools
You can always use free marketing tools such as Google My Business and social media for your business. Several businesses create Facebook peer groups to interact with like-minded individuals and spread the word. Market your company to as many people as possible.
Mentorship is Important
It is vital to have a mentor you can trust. It is always valuable to have guidance from your former teachers or other business associates. If you wish to shorten your learning curve, work with someone who has climbed the very mountain you are trying to navigate, said Saahil.
What’s Next?
In the future, Saahil plans to make even more money and use it to benefit his community. He wishes to expand his business operations to other countries. The discovery of music in his life allowed him to see that he possessed artistic talents besides business skills. Being a trader, entrepreneur, and singer, Saahil Kumar Chathrath has inspired newcomers to reach their goals. Despite knowing that things would get tough along the way, he remained committed to becoming the success story he had always dreamed of becoming. You can connect with him on his Instagram, Facebook, and Twitter.
