Vithurs Thiru, owner of the UK’s leading, fastest growing CBD brands, has been watching the industry grow … [+]
Entrepreneurship requires persistence, sacrifice, and spiritual strength when it gets (inevitably) difficult. For those who are enterprising entrepreneurs early on in their careers, it can be overwhelming when everyone around you is just trying to make it through. Emerging industries are the hub for entrepreneurial growth, whether because of interest in trends or because of the projected exponential growth in a particular area.
Both are certainly the case in the CBD world. Buyers, investors and consumers alike have come to this industry to break into the ground floor. And for good reason too: According to Statista, US consumer CBD sales are expected to reach $ 1.8 billion by 2022. Entrepreneur Vithurs Thiru, who owns one of the leading, fastest growing CBD brands in the UK, has watched the industry grow and evolve and emerged at the forefront of entrepreneurs in CBD by excelling.
His company, Blessed CBD, is taking the lead in terms of product, sales and quality. When asked how he could differentiate himself in such a rapidly growing industry, Vithurs drew on the less tangible lessons he had learned on his journey into entrepreneurship. For him, building a solid personal identity and brand as an entrepreneur is what sets him apart from the rest.
First, focus on being a student
Vithurs has been an entrepreneur since his youth. He started by starting a business around SEO (search engine optimization). His family had no money left and he wanted to learn how to make money online. When he immersed himself in the world of search engine optimization and started making his own money, he was fascinated by the world of entrepreneurship and the idea of tax independence. This cultivated his desire to always learn something new, which carried him throughout his learning journey and well into his career.
His entrepreneurial endeavors have proven fruitful – he has built two successful businesses in two countries – and learning has been at the core of his successes. With each new venture, he tried to learn everything about the product, the industry, the service, and even the buyer’s preferences.
Make sure your motivation goes beyond the money
Since starting his entrepreneurial career as a teenager, Vithurs has learned that motivation needs to go beyond finances to sustain life in such a challenging area. His early entrepreneurial endeavors were driven by a need to make money, but driven by his deep love for learning and his passion for creating a sense of stability for him and his family.
Entrepreneurship, especially in an emerging market, requires an ongoing passion as many do not see immediate success. Your “why” becomes your anchor and guides you through the tough times and weeks when it is difficult to see the light at the end of the tunnel. However, companies that are motivated by passion and drive create more meaning for their owners and consumers.
Build something that gives back
Vithurs’ recent entrepreneurial drive into the world of CBD showed him the importance and satisfaction of building a business that helps others. To differentiate yourself from other companies that are simply trying to make money, dig deeper. Realize that you can use any riches you have earned to give back to your community or society at large.
Vithurs was excited about starting a CBD business because he knew it was something that could help people. Now, his company is largely successful as people are looking for CBD products for their health and wellbeing. Even in difficult times, this has motivated him and his team as they recognize the benefits their business brings to others.
Anyone who is interested in entrepreneurship must commit to it in the long term. To distinguish themselves in an emerging industry, entrepreneurs should understand these basic principles and try to understand why they want to start their business in the first place and adhere to these principles.