“There is no replacement for hard work,” says Entrepreneur Milad Hatami

 (photo credit: MILAD HATAMI)
(photo credit: MILAD HATAMI)

Starting or growing a business is a never-ending path of setbacks and challenges. That’s why resilience and risk-taking ability are the most important qualities an entrepreneur should have or develop in order to be successful. Here’s Milad Hatami, a renowned entrepreneur, sharing more on these cornerstones of entrepreneurship. Let’s delve.

Resilience is the process of adapting well in the face of adversity. It’s a quality which, Milad asserts, is essential to start or grow and sustain a business. “The struggle is inevitable, but everything changes when you don’t see it as a struggle but as an opportunity.”, says Milad. This change of perception happens through resilience, where no matter what or how many the setbacks, it is completely up to the person to tweak them in her favor. 

Resilience is a great tool entrepreneurs use to rethink the way they see setbacks. Successful entrepreneurs see setbacks and challenges as catalysts of progress rather than threats to be dodged. Milad explains, “Because the truth is, the times one grows—as a human being, as an entrepreneur—are the times when one is confronted with difficult problems and extreme decisions.” So being resilient is crucial if one wants her business and entrepreneurial career to grow and last.

Now speaking of business, maybe one’s business is doing alright. She is earning well, and she is an entrepreneur. So she feels good. However, there is likely a chance that her business could reach newer heights of success if she is willing to take risks – yes, yet another cornerstone of entrepreneurship. Without taking a risk, one will never know how great her brand could be. Milad doesn’t recommend to risk everything one has strived for. He advises to take calculated risks — this could give that push one's company needs for more success.

Milad says that to create new products or services, entrepreneurs have to take risks. Taking risks paves the way for true innovation rather than simply imitating what companies have been doing. Innovation is what pushes businesses on a forward path. And entrepreneurs are often the ones who lead the pack when it comes to risk-taking and innovation.

Milad Hatami is a popular Instagram star in India, known for his sense of humor. Milad’s business on the internet made him a young millionaire. He credits his entrepreneurial success to his resilience and risk-taking abilities and advices aspiring entrepreneurs to embrace these qualities for a successful run.