By Mikaeel Moti, Executive Director of the Moti Group
With Generation Z shaking up the business world, achieving millionaire status before 30 is no longer the exception but the expectation for young innovators.
The only question is, how.
Mikaeel Moti, one of South Africa’s youngest millionaires and Executive Director of the Moti Group, is no stranger to turning opportunities into triumphs.
He shares ten game-changing tips that helped him rise to the top, offering a blueprint for fellow young entrepreneurs ready to break boundaries and claim success.
1. Nurture single-minded determination
It’s easy to fall into the trap of trying to juggle too many things at once, and failing to make progress where it’s most needed. Young entrepreneurs looking to make it big should rather focus on one project at a time and take that project to its apex.
I believe in sticking to my knitting, doing one thing the best I possibly can, and then focusing on the next project. The split-focus mindset that is so prevalent today means nothing ever gets done. A good idea stays just that – a good idea – instead of becoming the next big business venture.
2. Master the art of strategic refusal
Knowing when to say ‘no’ is even more important than knowing when to say ‘yes’ to opportunities. The saying, ‘Winners know when to quit,’ isn’t entirely accurate. Winners know when to push their luck, and when to rather back out of something that isn’t good for them.
I’ve always trusted my gut, and it’s saved me more times than I can count. When something feels wrong for you, you will know. Have the confidence to say no, believing that there will be better avenues for you to pursue in the future.
3. Build a unique personal identity
Your personal brand sets you apart in a crowded marketplace. Authenticity and consistency in your values and actions build trust and recognition.
Think about your favourite brands. Whether it’s a coffee shop or a car, their consistent quality and messaging keep you coming back. Apply the same principle to your personal brand, and prioritise delivering on your promises. When you are genuine and reliable, people can sense it, helping you to stand out, and making it more likely that people will want to work with you.
4. Network with purpose and passion
I’ve been fortunate to learn from titans like Dondo Mogajane, the CEO of the Moti Group, and my father, Zunaid Moti. Learning from their example and my own experiences, the single biggest piece of business advice I can give to anyone is to invest in relationships.
It’s not about being transactional or simply knowing the right person to help you. It’s about being able to tap into a network of likeminded people, where everyone is working towards a common goal of success. This network requires constant nurturing and care, like tending to a bonsai tree.
Climbing to the top is much easier if you have people around you who are willing to help when you need a little extra support. Everyone wants to be successful. Nobody has ever done that completely alone.
5. Turn setbacks into stepping stones
Setbacks are inevitable, but they offer invaluable lessons that contribute to future successes. Embracing failure cultivates resilience.
In the Muslim faith, we believe that all good or bad comes from Allah, and that we should learn to appreciate both. If something doesn’t work out, it’s because Allah has something better planned for us that we cannot yet see.
Choose to view setbacks in a similar light. Believe the universe has something better planned for you, if you have the strength to pick yourself up and keep fighting. Some of the greatest successes of all time started with major setbacks, and success doesn’t taste as sweet if you don’t know the feeling of failure.
6. Commit to continuous learning
Another lesson I’ve learned from my father is about the difference between wisdom and intelligence. He always says, “An intelligent man knows that a tomato is a fruit, but a wise man knows not to put a tomato in a fruit salad.”
Intelligence means nothing if you do not have the wisdom to apply it appropriately. Therefore, the quest for knowledge and wisdom should go hand in hand, as it’s crucial to continuously improve both. Every day, strive to learn something new or apply your knowledge in a way you haven’t yet done.
7. Set clear goals
Defining your goals provides direction and purpose. Think of your life as a massive tower, and as you grow older, you build on this tower. For example, in school, I was a very different person – lacking in social skills and confidence, but relatively book smart. My greatest goal was to become confident in who I was, and to find it easier to communicate and relate to other people.
It took years of effort throughout high school, but eventually, I became the man I wanted to be. Now, I find it easy to make friends and I take pride in the person I am.
Ultimately, entrepreneurship is paved with challenges and learning opportunities. Seek mentors, heed the advice of others, but most importantly, remember that hard work and having the courage to take initiative are the best guarantees of success.
Mikaeel Moti is the Executive Director of the Moti Group.
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