I spent a Day with a Self-made Millionaire, Vishal Jain: Here's what I Learned
I set out to discover the most inspiring young people in the 21st century. They're not exactly the richest or the most popular. These are not the names you see daily on television, but their stories will touch your bones and spur you to make life-changing decisions for good. In my search, one name kept popping up; Vishal Jain. The first time I saw that name was when I was doing a research on the Forbes Councils.
I decided I would have a conversation with him, and thankfully, I did. Here are 5 important things I learnt from our interaction.
1. Why did you drop out of College?
Vishal Jain has one philosophy; know what you want and take the right steps to achieve it. For instance, if your goals has nothing to do with a college degree than don’t go to college, instead invest that time to develop skills in the area of your interest and start a business around it. In a similar way he started his first company Sunshy Digital Media Agency with no financial help. For Vishal, growing your own business is the best way to be be financially free at an early age so later in life you can work for your passion not just for survival.
2. How to be be financially free at an early age?
"Spend only 5% of what you earn", says Vishal Jain. At first sight, I thought that can't be easy, and I'm sure you do too. But you'll need to be making good money to be able to achieve that. And no, your salary will most likely not cut it. You need to be in business. Vishal advises you take only 5% of your profit and reinvest the other 95% in your business, mutual funds & stocks. I don't know about you, but if at 23, Vishal is already a serial entrepreneur and smiling to the bank, I will listen to what he has to say.
3. Why your business main focus is on Personal Branding?
Branding is everything and Vishal knows this. He quotes "There is no bigger asset to acquire right now than online visibility”. He tells me that his numerous clients always want one of two things; branding for themselves or their business. Of the two, personal branding is the most important, according to Vishal. "People always want to put a name to the brand", he says. You must be able to gain trust and inspire people to act positively towards your idea and/or product.
4. What’s your take on the Digital Age?
“I have 250,000 Followers on Instagram”, Vishal said with a wry smile. Armed with such huge following of hustlers, Vishal sure proves that he understands the power of the digital age. Vishal says nothing can be done today without digital media. "In fact, most of my agencies are heavily reliant on digital media; all my businesses were built on it". Vishal also writes on Quora and has over 1.6 million views, he has a personal blog as well, which has so far garnered over 25,000 subscribers.
5. Share some Tips for Aspiring Entrepreneurs
I was particularly interested in this subject matter. How did Vishal Jain become a successful entrepreneur? He gave a few tips;
- Be passionate about what you want in life and be ready to make sacrifices for it.
- Study the ropes of business rather than spending several years acquiring degrees you may never need.
- Desire is the most important capital in business; knowledge is second. Money comes much later.
- Be persistent; don't let little obstacles derail you.
- Invest more, spend less!