Entrepreneurship requires stamina, sacrifice, and strength of mind when the going (inevitably) gets tough. For those business-minded individuals early in their careers as entrepreneurs, it can feel overwhelming when everyone around you is just trying to make it. Emerging industries are the hub of entrepreneurial growth, whether that’s because of interest generated by trends, or because of projected exponential growth in a specific area.
Both are certainly the case in the world of CBD. Buyers, investors, and consumers alike have flocked to this industry, seeking to get in on the ground floor. For good reason, too: according to Statista, consumer sales of CBD are expected to reach $1.8 billion in the U.S. by 2022. Entrepreneur Vithurs Thiru, who owns one of the UK’s leading, fastest-growing CBD brands, has watched the industry grow and emerged at the top of entrepreneurs in CBD by distinguishing himself.
His company, Blessed CBD, takes the lead in terms of product, distribution, and quality. However, when asked how he was able to distinguish himself in such a rapidly growing industry, Vithurs drew from the less tangible lessons he learned in his entrepreneurship journey. For him, building a solid personal identity and brand as an entrepreneur is what has set him apart from the rest.
Focus On Being A Student First
Vithurs has been an entrepreneur since he was a teen. He started by creating a business around SEO (search engine optimization). His family didn’t have funds to spare and he wanted to learn how to make money working online. Once he dove into the world of SEO and began making his own money, he was captivated by the world of entrepreneurship and the idea of fiscal independence. This cultivated his desire to always learn something new, which carried him throughout his learning journey and well into his career.
His entrepreneurial efforts have proven fruitful—he has built two successful companies in two countries— and learning was at the core of his successes. With each new endeavor, he sought to learn everything he could about the product, industry, service, and even the buyer’s preferences.
Make Sure Your Motivation Goes Beyond Money
Since starting his entrepreneurship career as a teen, Vithurs learned that motivation has to go beyond finances to sustain life in such a challenging field. His early entrepreneurial efforts were driven by a need to make money but sustained by his deep love of learning and passion to create a sense of stability for him and his family.
Entrepreneurship, especially in an emerging market, demands an abiding passion, since many do not see immediate success. Your “why” becomes your anchor, getting you through the hard times and difficult weeks where it feels hard to see the light at the end of the tunnel. But businesses motivated by passion and drive create more meaning for their owners and consumers alike.
Build Something That Gives Back
Vithurs’ latest entrepreneurial endeavor into the world of CBD showed him the importance and gratification of building a company that helps others. To set yourself apart from other businesses simply trying to make money, dig deeper. Recognize that you can use any wealth earned to give back to your community, or to society at large.
Vithurs felt passionate about creating a CBD company because he knew it was something that could help people. Now, his company is largely successful because people seek out CBD products to aid their health and wellness. Even in hard times, this has kept him and his team motivated because they realize the benefit their business brings to others.
Those interested in entrepreneurship need to be committed to it for the long haul. To distinguish themselves in an emerging industry, entrepreneurs should understand these key tenets and seek to understand why they want to create their business in the first place and adhere to those principles.