Vithurs is one of the youngest entrepreneurs making all the right noise in the rapidly growing CBD industry.
His company, Blessed CBD, founded by him at the age of 22, is now worth up to £10 million. The 24-year-old entrepreneur has a lot to say about his strategies for success and how young CEOs should start out.
Vithurs offers these 3 tips for young entrepreneurs to improve their frame of mind and become a successful entrepreneur like he did. This advice comes from someone who has grown a company from scratch to £5 million in annual revenue within 12 months, so we feel it’s worth hearing him out.
How to Live as a young CEO
Defining success is as important to becoming a successful CEO as making the right business decisions, according to Vithurs. While success in the workplace with appropriate investments and modeling is important, Vithurs emphasizes success in life as the first step towards becoming a success. Work ethic is important at work, but young entrepreneurs have to learn how to apply this ethic to their lives as well.
The principles of working well apply to life too. Organization, productivity, determination, and cooperation are all essential aspects of Vithurs’ business model and life model. Since he formed his first business at the age of 13, he has used this thinking as a way to achieve success as a young CEO and combine work ethic with life ethic. Now his brands have been voted the best in the UK by the likes of Reader’s Digest, Discover Magazine, Express, Observer and Daily Record.
Many people will call a young entrepreneur like Vithurs too ambitious. As he explains, very few people will believe in a 13-year-old’s business ambitions and even fewer will support their ventures financially. The same obstacles facing Vithurs will face most young entrepreneurs starting out in their business. To them, he says to “aim for the stars; you might just reach them.”
In terms of setting goals as a young CEO, Vithurs cites his ability to set realistic deadlines as one of his most useful skills. This entails knowing what you are capable of and what your employees can achieve as well. This will help you set goals for you and your team at a realistic pace and set deadlines that your business can achieve. Otherwise, the phrase “too much ambition” may prove to be accurate as you put too much pressure on your workforce and yourself. The resulting fatigue and decreased productivity will hurt your timelines and reduce your team’s confidence in your leadership.
How to be a Leader
Vithurs assures young CEOs that setbacks are a part of any business venture. Some are easy to get past and others can be costly, but taking responsibility for mistakes is more important than avoiding them. Challenges change a young leader’s perspective, and the lessons people learn from a setback are valuable if they take the time to assess themselves when they happen. Vithurs emphasizes that refining his leadership and business model required these bumps in the road.
This also means learning to adapt to changing times. Business models are not static – they change with emerging technologies and further research. In order to stay competitive, efficient, and relevant, a young CEO can’t get set in their ways. They have to embrace adaptation and learn to learn. This may mean changing leadership styles or setting goals differently. New technologies may have to be implemented to ensure the young company’s survival. However, Vithurs took advantage of these solutions as his business grew and he remained relevant because of it. He urges young CEOs to be aware of this process and take advantage of opportunities to adapt whenever they can.
Young CEOs like Vithurs L have methods that many of us can’t comprehend. In terms of basic leadership skills, realistic goal setting, and the ability to adapt to changing business landscapes, however, Vithurs offers these 3 tips to young entrepreneurs that want to know how he did it and follow in his footsteps.
As much as his wealth reflects the success of his goals, Vithurs hopes to inspire young entrepreneurs to embrace their ambition, set realistic goals, refine their leadership style, and start on the track to success, no matter how young they are or how big their goals.
Follow Vithurs’ latest updates on Instagram @vithurs