What does it take to be an entrepreneur? Akshay Ruparelia was just 17 when he set up his online estate agency, it is now worth millions. He talks The Day through his extraordinary journey.
Meet Britain’s youngest self-made millionaire
What does it take to be an entrepreneur? Akshay Ruparelia was just 17 when he set up his online estate agency, it is now worth millions. He talks The Day through his extraordinary journey.
"What's that famous phrase: 'keep it simple, stupid' - that's probably one of my favourite pieces of advice," Akshay Ruparelia says. No wonder, it's a principle that has brought him stunning success.
Set up when he was just 17, Ruparelia's online estate agency Doorsteps.co.uk was built on a simple vision: sell houses while charging the lowest commissionWhen a government launches a commission, they appoint an individual to perform a special piece of work. Cyberbullying: Harassing or bullying others online, whether through rumours, threats or posting personal information about a victim. According to the UK's Office of National Statistics, 19% of children aged 10 to 15 experienced online bullying between March 2019 and 2020. Nearsightedness: Also known as myopia. Nearsightedness people find it difficult to see far away objects clearly. Eighth-graders: A class in the American school system spanning ages 13 to 14, the same as Britain's Year 9. Accessible: According to Statista, 3.80 billion people - 48.33% of the world population - own a smartphone. 4.88 billion, or 62.07%, own a mobile. Atlases: In Ancient Greek mythology, Atlas was a Titan condemned to hold up the globe for eternity as punishment for trying to depose the gods. Encyclopaedias: The modern word descends from two separate Greek words, enkyklios paideia, general education, which a 15th-Century scribe accidentally copied as a single word. possible. He sold his first home while completing his A-levels. Now his estate agency empire is valued at 12 million.
"You need to have broader motives than just money," Ruparelia insists. "Once you motivate yourself with a passion that comes from pleasing staff, pleasing a customer, and having a team spirit... that's the exciting stuff." Nonetheless, Ruparelia's approach still made him the youngest person on this year's Rich ListPublished each year by the Sunday Times, it ranks the wealthiest individuals in the UK. It also runs a separate list detailing the richest under 30s in the country. See the Business Insider link for more..
Not that he feels particularly young anymore: "Business ages you very quickly. Sometimes I feel like an old man really - sometimes my parents have more energy than I do."
When Ruparelia first started out, he was reluctant to reveal his age to staff and clients. "It was all about presenting myself confidently," he says. "I had members of staff and people who didn't know my age that assumed I was 24 or 25. When it came outRuparelia's story has been the subject of much media attention, including interviews on morning TV and in national newspapers. See Become An Expert for more. people were like: 'oh, you're young'."
But when it comes to the hard work required, age makes no difference: "It's pretty constant. It's a 100 hour week and I don't think it will change any time soon, but I kind of like it that way." His ultimate goal is to turn Doorsteps.co.uk into the number one estate agency in Britain.
In getting to where he is now, Ruparelia took a different path from many of his peers. "Not going to university wasn't a big deal. I had the option, and I worked hard to make sure I had the option," he reflects. "I think it's just about having the opportunity to explore, rather than keeping yourself on a certain path because you are conforming to convention."
What does it take to be an entrepreneur?
"Test your idea cheaply, that was a big one for me," Ruparelia says. "Don't go out and spend lots of money or raise lots of money if you're not sure that it's going to work. For me, customer feedback was my paramount thing on which the business depended."
"Never stop learning too. People learn about different areas within the sector, so learn from other business people - that's really important, never stop learning. On that same point, you need to educate yourself too. Start by taking control. The biggest money saver you will have is the ability to do all the different tasksRuparelia says he taught himself photography so he could take pictures of houses himself, rather than employing somebody to do it. Although, for his first house sale, he did have to ask for a lift to the house viewing, as he had not yet learnt to drive. yourself. Until you have to hire someone to do a job, do it yourself."
Keywords
Commission - When a government launches a commission, they appoint an individual to perform a special piece of work. Cyberbullying: Harassing or bullying others online, whether through rumours, threats or posting personal information about a victim. According to the UK's Office of National Statistics, 19% of children aged 10 to 15 experienced online bullying between March 2019 and 2020. Nearsightedness: Also known as myopia. Nearsightedness people find it difficult to see far away objects clearly. Eighth-graders: A class in the American school system spanning ages 13 to 14, the same as Britain's Year 9. Accessible: According to Statista, 3.80 billion people - 48.33% of the world population - own a smartphone. 4.88 billion, or 62.07%, own a mobile. Atlases: In Ancient Greek mythology, Atlas was a Titan condemned to hold up the globe for eternity as punishment for trying to depose the gods. Encyclopaedias: The modern word descends from two separate Greek words, enkyklios paideia, general education, which a 15th-Century scribe accidentally copied as a single word.
Rich List - Published each year by the Sunday Times, it ranks the wealthiest individuals in the UK. It also runs a separate list detailing the richest under 30s in the country. See the Business Insider link for more.
Came out - Ruparelia's story has been the subject of much media attention, including interviews on morning TV and in national newspapers. See Become An Expert for more.
Tasks - Ruparelia says he taught himself photography so he could take pictures of houses himself, rather than employing somebody to do it. Although, for his first house sale, he did have to ask for a lift to the house viewing, as he had not yet learnt to drive.
Meet Britain’s youngest self-made millionaire
Glossary
Commission - When a government launches a commission, they appoint an individual to perform a special piece of work. Cyberbullying: Harassing or bullying others online, whether through rumours, threats or posting personal information about a victim. According to the UK's Office of National Statistics, 19% of children aged 10 to 15 experienced online bullying between March 2019 and 2020. Nearsightedness: Also known as myopia. Nearsightedness people find it difficult to see far away objects clearly. Eighth-graders: A class in the American school system spanning ages 13 to 14, the same as Britain's Year 9. Accessible: According to Statista, 3.80 billion people - 48.33% of the world population - own a smartphone. 4.88 billion, or 62.07%, own a mobile. Atlases: In Ancient Greek mythology, Atlas was a Titan condemned to hold up the globe for eternity as punishment for trying to depose the gods. Encyclopaedias: The modern word descends from two separate Greek words, enkyklios paideia, general education, which a 15th-Century scribe accidentally copied as a single word.
Rich List - Published each year by the Sunday Times, it ranks the wealthiest individuals in the UK. It also runs a separate list detailing the richest under 30s in the country. See the Business Insider link for more.
Came out - Ruparelia's story has been the subject of much media attention, including interviews on morning TV and in national newspapers. See Become An Expert for more.
Tasks - Ruparelia says he taught himself photography so he could take pictures of houses himself, rather than employing somebody to do it. Although, for his first house sale, he did have to ask for a lift to the house viewing, as he had not yet learnt to drive.