Based on a podcast by Shane Krider
Our special guest, Hems Thakraar, is truly inspirational. His business philosophy and application led him to be one of the most flourishing entrepreneurs I know. I’m just so pleased to see someone go and create this level of success. Hems shared his insights into his journey, including a crucial counter intuitive concept to his success – the importance of giving and receiving, and how time is your most valuable commodity.
Hems and his wife are eternal students of personal growth, and have reaped high rewards by staying on this journey and using their self-improvement mindset in every facet of their lives, especially their businesses.
Hems prides the success of his business, The Amani Group, on creating a team of like-minded partners and employees, who he sees as family, not just workers. They all embody the same mindset, values and by prioritizing these principles in the business, it has boomed.
“When you start with your dream team, and your focus is to create a business for good, for contribution, where most businesses are built for consumption, then the side effect is abundance.” Hems success goals were out of reach for a long time, but by applying the balance of giving and receiving within his business framework, it ensured he reached his success goals and beyond.
Hems learned the value of time from his father. He recognized his dad’s considered advice was of the highest quality, and influential people would seek him out, he was giving them something valuable, his unmetered time. “It’s the most valuable gift you have, and to give that to someone, not charging by the hour or timing the meetings, I mean really be there and give them your highest self, this view point in negotiations has helped greatly in my success.”
Hems doesn’t subscribe to the traditional boss image, he has led his life and business with the knowledge that you look at leaders you want to follow, it’s about connecting with the energy they have.
“More money does not make you more of a leader. The financial success should be a side effect of who they are. The difference is successful leaders are go-givers rather than go-getters. It is their passion to grow other people, which then grow financials in the process. They will do this till their dying day.”
You can be a giving person, but you must be somewhat strategic who you invest your time with, being a super successful entrepreneur, you’ve got to be pretty good at compressing time, and managing yourself in a way that your time to money relationship is really strong. Hems has a great insight into this:
“I have a theory that everyone has to be clear on their rate per hour or rate per minute once their income gets really large. That gives you clarity and confidence of where you’re going to invest your most valuable asset, your time, which is an extension of yourself… It’s the highest value you have to offer another person.”
The thing that impressed me the most about the values Hems shared is the synergy that created in his life, and by starting a business based on those personal development principles, focusing on giving back rather than being profit-driven is impressive. Those aligned ideals, staying on-purpose and clear on direction, surrounded by people who hold the same clear focus, it’s a huge advantage. And the entrepreneurial empire Hems has built around this philosophy is enviable.
As a highly successful entrepreneur who holds a portfolio of thriving businesses, Hems business advice is invaluable. He shared some golden advice – this is Hems’ ideal business of the future checklist:
- No huge capital required, no debt to get started, because that really is starting backwards.
- No MLM or pyramid schemes. You can work hard and earn a lot of money, but a lot is passed up through different levels, which you may never reach.
- Look for a business with leverage. Leverage is really powerful. Great leverage maximizes your time and wealth.
- Residual or passive income potential. This is when work you did five years ago, is still paying you today. Every business should include this.
- Effective systems. People pay a fortune for franchises because they’re buying a proven system that works and supports them. Prosperity of Life has that system without having a massive outlay. And the system really delivers the results.
- Having no stock, and no staff requirement. Biggest cost to most businesses is their cash flow. Staff, rent, stock and storage are expensive. If you don’t have that then your chances for success are larger in my eyes.
- Based online. No premises required. Only set up needed is a computer with internet access. Perfect!
Hems points out, when looking at this checklist for the business of the future, it could be a pretty lonely world to be working in, albeit highly successful. This is why he highly recommends posing the next three questions, as they are essential ingredients to any successful business venture:
- Is it a business for good? Is it contributing?
- Are you passionate about it?
- Does it connect you with support and people who have the same values as you?
“That is one of the highest values Prosperity of Life has for me, I’ve now connected with people who have the same value and life philosophy. I’m so grateful for you guys [Rachel and Shane Krider] to make this available to all of us. This is what I was looking for in a business, I came across Prosperity of Life and it was just tick, tick, tick.”
The highlight of Hems’ success journey for me is the importance of knowing your heart, know what ignites you, and find something that measures up to that. Obviously, Hems and I share similar passions so it’s no coincidence that we ended up in business together within the personal development industry. The way he has built his group of companies, raised their success to unbelievable heights, and completely aligned to his values above all else, is truly an entrepreneurial inspiration.
Shane Krider