At age 28, Prady Tewarie has started and sold over 28 businesses and is the current Founder and CEO of AZOTH LLC, a nootropic supplement company that has sold over 50K units worldwide. Prady holds a JD and is a professional bodybuilder.
Entrepreneurial Role Models:
Prady Mother
When business started difficulties overcame:
“when you start off you don’t know like anything. So, you have just tools like you might have read some stuff, you might have heard some staff and you might have seen stuff on Instagram or the Internet or on YouTube but you don’t know anything. That’s the first hurdle. The second hurdle is you have no capital. So those two things are probably the reason why 90+ percent of entrepreneurs will end up failing. They just don’t have the requisite information, network or the capital to do anything”…[Listen for More]
Favourite Books:
Principles: Life and Work Book by Ray DalioFavourite Quote:
“competition is for loser” Peter Thiel
Recommended Online Resources:
Reddit gives you the best of the internet in one place. Get a constantly updating feed of breaking news, fun stories, pics, memes, and videos just for you.
Best Advice to Other Entrepreneurs:
“to not be focused on consistently having to raise more money… I don’t think you have a money problem I think you have a creativity problem… You have to find something that you can scale on and only then can you don’t more resourcing and money will cover that up a lot of times. So my biggest thing is you need to gain and understand consumer insight”…[Listen for More]
More About Prady Tewarie:
Neil’s Quote at the Beginning:
“Logic will get you from A to B. Imagination will take you everywhere.” Albert Einstein
Other Quotes From the Chat with Prady Tewarie:
- “creating systems in your business, being highly organised… We as entrepreneurs sometimes we take a lot of pride in working our behinds off, just want to work all of the time I believe there is no such thing as ridiculous work ethic, I don’t believe anybody change the world by working 40 hours a week I just don’t think that happens was that but I think that we can work more efficiently and I think that we use that as a way to hide because we are like man I am working like hundreds of hours I am like okay and then what. And so, the problem I often times we work a lot of times is because we do a lot of busy work. What I would have learned earlier on what I actually tell all entrepreneurs is learn to fire yourself now and then from some tasks and say man I shouldn’t be doing this let me delegate, let me delegate. Is there a system or not? If there is no system in place it’s not scalable. The system in place mean something that’s scalable, that can be automated, that can grow without initial and adding more input. If you have that in your business your business has the opportunity to grow. A lot of people have processes in their business that are already handicapping the business from the start because those processes are not scalable, they are not repeatable and they require too much human input”
- “the secret to success is executing… How quickly are you able to execute over and over again and over again. And I call this scaling… So, executing over and over again and learning something from it. That is a mark of success”
- “being okay with the fact that you are going to have hypotheses and they are not going to be right. So, are you willing to be wrong? And are you willing to be wrong every day?… There cannot be any ego attached to things”
- “entrepreneurship is not very glamorous thing. And you are the last one to be able to eat, you are the last one if you are running the company to be able to enjoy any of the profits. It’s not really like people think you are the CEO you are going to have all these extra perks and then everyone else is beneath you. It’s actually the opposite is a good CEO your job is to make sure everyone else is fine and then you eat and then you enjoy”
- “entrepreneurship a lot of times is just stress management and not taking every single thing very personal”
- “are you willing to put yourself at risk? Like raising your hand in class in front of a group of like 200 people in saying to the professor AI don’t understand what you just said. Can you repeat that? A lot of people are afraid to do that because it makes them sound stupid. But a good person who is going to be successful is going to be like I don’t care, like I just don’t care if I sound stupid to everyone. So, do you cave under peer pressure? And I think that’s a very big mark of success is knowing that you’re going to be wrong”
- “how well are you able to communicate your ideas to other people? How good are you at relationship building? Is networking something that comes natural to you are not? So I think if you are a great communicator, you execute consistently over and over again and you are willing to take risk and fail and be okay with it and not take it personally you have a formula there this is going to lead to someone becoming a very successful founder”
- “finding patterns in everyday life and applying them to business and to create systems out of them. And I think that’s what great scalable businesses are able to do. They are able to find something, solve a problem in a certain way but solve the problem in a way where there is a process and a method behind it and then scale on that”
- “I think a lot of us build small businesses when we are actually trying to build big businesses”
- “I believe focusing on competition is a luxury problem. If you are a start-up you don’t have the luxury to focus on your competition. Because when you focus on your competition you are trying to play someone else’s game but you don’t have the luxury to do that because you have got to play your game. And I think most businesses sink fully because they are trying to beat their competitors and they focus on competitors and not customers they are serving. So, you need to create a product or a service where you are so good that no one can ignore you. And that point your competition must become obsolete. So, the goal always is not how you are better than your competitor but how you are the only one in that space solving that problem”
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