Rishabh Jain is an Indian businessman, philanthropist, and speaker. As an entrepreneur, he believes in the amazing concept of “UBUNTU” African Philosophy which emphasizes “independence through others”. It is the kind of personality that can be expressed in the phrase “I AM because WE ARE”. He firmly believes that each of us has the ability to make this world a better place by elevating one another.
A business cannot be made up like castles in the air, it requires funds, ideas, plans, willpower, etc. To make up a business, one first needs to collect all the ingredients to make it successful.
Q1. What do you say to people who say that they do not have money to start a business?
Let’s say you’re a mechanic and want to start a repair shop – you’d need to buy the tools to run the shop, right? If you want to become an Uber driver, you need to buy a car. Even if it’s on a loan, you’d still need to spend money first, but you’d do it! Because you know that, from that car, you can earn future income.
Starting your own business works the same way. So, it’s just the expense of starting a business! And if you’re not ready to do that either, then I have nothing else to say. Maybe you’re good with having a job and entrepreneurship isn’t for you.
Q2. What advice do you want to give to budding entrepreneurs in handling rejections?
I always tell people, “Look, these rejections don’t concern you. They are rejecting their own future.” I simply look at it this way: If the person is aware of their destination in life, and if they can see that this business can take them there, they will come.
There are two kinds of people – those who know their destination and those who don’t. The second type will give you a thousand reasons for not joining the business. And it’s not about business or entrepreneurship, they don’t have any hunger in life because they just don’t know where they want to be. Now, to the people who know their destination, I ask them this: Can your destination be achieved by what you’re doing currently? If the answer is yes, then don’t look at anything else. But if the answer is no, then start doing something of your own which would be worthy enough!
Q3. You always say that to achieve success, you need to have the millionaire mindset. What is the Millionaire Mindset?
Success is not the destination; it is only a milestone before the next one. It is not only believing in the importance of having money in your bank account but having the freedom to spend money with no fear of not having enough in the future. This belief comes from the confidence that what you have worked for will keep growing. It is believing that you can enjoy life without having to look at price tags… be it for lifestyle or charitable purposes.
Q.4. What was the biggest regret of your life?
My biggest regret was that I didn’t go bigger sooner. I never understood the importance of having money and took the quote “Money cannot buy happiness” very seriously.
Q.5. In which industries or domain, you see the future and have tremendous growth for individuals?
E-commerce, Real Estate, Health & Care, and Education.
Q.6. You must have heard about the direct selling industry? Is it really the business of 21st century?
It is the same as any other industry and just because of the lack of knowledge people have the wrong perceptions and start believing in Chinese whispers. It is estimated that it will reach around 159.3 billion by the end of 2021 and INR645 billion by 2025. Easily we can conclude that growth of direct selling in India is very promising.
Q.7 What do you think about cryptocurrencies?
I think people should ignore them for now, but I am not a gambler. Unless you guys are rich, leave it alone or you could get burned.
Q.8. How do you keep motivating yourself every single second?
I don’t believe in motivation; I always believe in inspiration. Motivation lasts for 1 day, 2 days or may be a few hours but inspiration is something which lasts forever. My biggest inspiration is my father who always believes in leading by example.
Q.9. How to become a good leader?
Leadership is not a title; it must be earned. Certain individuals have the ability to impact the lives of others with their action, insights and words. The late Steve Jobs said it best — ‘Leadership is about inspiring people to do things they never thought they could.’
Q.10. What are your hobbies?
To make money, to keep new goals and to achieve it, to spend time in different places in the world with my family and chill out with them, building new markets and playing chess.
Q.11. How do you help someone who wants to become an entrepreneur?
I always believe that it is not only about knowledge, skills, etc. but to become a true real-life entrepreneur one must have a clear vision and hunger without which they cannot succeed.
I always love to guide and help others by providing them the right platform, knowledge, and mindset. People can connect with me through my website (www.iamrishabhjain.com).