Akshay Ruparelia is a name you might not have heard of, but you will definitely want to remember. At just 24 years old, he is the UK’s youngest millionaire and a true inspiration to young entrepreneurs everywhere. Ruparelia made his fortune by founding online estate agency Doorsteps.co.uk, which he started when he was only 17 years old.
Recently, Ruparelia has been sharing his financial advice and insights with others, with a particular focus on young people who are just starting their journey in the world of business. Here are some of his top tips for achieving financial success:
- Start Small
One of Ruparelia’s main pieces of advice is to start small. When he founded Doorsteps.co.uk, he didn’t have any investors or external funding. Instead, he started the company with just £7,000 of his own savings. By starting small and building the business gradually, he was able to control costs and avoid taking on unnecessary debt.
Ruparelia advises other young entrepreneurs to follow a similar path. Instead of trying to launch a massive company right away, he recommends starting with a small idea and building it up over time. This allows you to learn as you go and make mistakes without risking too much money.
- Stay Focused
Another key to Ruparelia’s success has been his ability to stay focused. When he started Doorsteps.co.uk, he was still in school and had to balance his studies with running the business. He credits his ability to stay focused and manage his time effectively as a key factor in his success.
Ruparelia advises young entrepreneurs to prioritize their time and stay focused on their goals. This means eliminating distractions, setting clear priorities, and being disciplined about how you spend your time.
- Take Calculated Risks
While Ruparelia believes in starting small and minimizing risk, he also recognizes the importance of taking calculated risks. In fact, he says that taking risks is essential for achieving financial success.
The key, according to Ruparelia, is to be strategic about the risks you take. This means doing your research, weighing the pros and cons, and being prepared to pivot if things don’t go as planned. By taking calculated risks, you can push yourself out of your comfort zone and open up new opportunities for growth and success.
- Surround Yourself with the Right People
Another important factor in Ruparelia’s success has been the people he surrounds himself with. He says that having a supportive network of friends, family, and colleagues has been essential for keeping him motivated and focused.
Ruparelia advises young entrepreneurs to seek out mentors and other successful businesspeople who can offer guidance and support. He also emphasizes the importance of building a strong team of employees who share your vision and values.
- Keep Learning
Finally, Ruparelia emphasizes the importance of continuous learning. He says that staying up-to-date with the latest trends and technologies is essential for staying ahead in today’s fast-paced business environment.
Ruparelia advises young entrepreneurs to read widely, attend conferences and events, and seek out learning opportunities wherever they can. By staying curious and always looking for new ways to improve, you can position yourself for long-term success.
In conclusion, Akshay Ruparelia is a true inspiration for young entrepreneurs everywhere. His story is a testament to the power of hard work, focus, and determination, and his financial advice is invaluable for anyone looking to achieve success in the world of business. By starting small, staying focused, taking calculated risks, surrounding yourself with the right people, and keeping learning, you can position yourself for a bright and prosperous future.
