Below are some wise advices gathered from successful investors and entrepreneurs for younger individuals:

1. Ideas don’t count: In business, idea means nothing unless and until they are executed. Execution is the only thing that matters. It’s not what you thought about doing, it’s about what you did. Bringing ideas to reality through proper execution is the real struggle a successful person goes through.

2. Watch out your spending: Each time you spend your money, you’re transferring your wealth to someone else. Deny yourself unnecessary spending, at the early stage of your life, for the sake of your future. Never try to impress others with your spending. Spend how millionaires really spend, not how you think they do, or how the media depicts.

3. Professionalism: Never let anyone get comfortable with disrespecting you. What matters most for a successful person, is the professionalism, consistency and respect, not the money. Keep your standards high and don’t settle for something because it’s available or cheap. The greatest skill you can leverage is the power of focused attention. Stay curious, question everything, and if you want something, ask for it. Accept people for who they are and not who you want them to be.

4. Positive mindset: Having a negative mindset leads to financial independency. Develop a positive mindset towards everything. Make a complete turnaround about money – how you earn it, how you spend it, and how you can keep it. Nothing changes unless your mindset changes. Positivity makes people more resilient. If you can’t find a good person, be one.

5. Think long-term: Most investments can and do make money short-term. That doesn’t mean you should engage in them permanently. Don’t assume success will be maintained without learning. Always try to improve yourself by constant learning, reading books, seeking new experiences and exploring different ways and opportunities. Over-performance doesn’t last so don’t get too excited if you have 1- 2 good years. Remember, markets rise long-term so no need to fear falls. In fact, best to welcome any falls! Don’t speculate or take shortcuts.

6. Personal savings: Lay aside 5 % to 10 % of your income for saving, monthly before doing any expense. Most people pay others first through shopping, entertainment, lavish spending and buying liabilities. Then they try to save whatever is left, but by then there’s nothing left. This known as consumer mentality. A successful person does the opposite.

7. Planning and budgeting: Planning your finances indicates your first steps in the right direction towards financial maturity and financial literacy. You should do execute everything with proper planning and budgeting in business and real life. Have your personal budget as a blueprint of your financial well-being and a control tool to maintain your income flow and keep your spending in check. Try to invest in assets rather than liabilities. Your net worth is simply the difference between your assets and liabilities.

8. Time is money: Be selfish with your time. Every second you spend comparing your life to someone else’s is second spent wasting yours; so, stop comparing yourself and create your own definition of success instead. Remember, in business, there’s a difference between being patient and wasting your time.

9. Learn to say “NO”: Learn to say “NO” and respect your time & energy. Establish your personal boundaries and learn to say no to parties, over-spending, time wasting gatherings etcetera. You have to believe in yourself before anyone else does.

10. Networking: Networking is the key aspect of success for an entrepreneur. Entrepreneurs must be able to build and maintain relationships with key stakeholders, including customers, suppliers, and investors. Networking allows you to raise your personal profile and tap into the world of different ideas.