Does family wealth matter in business?  Mr. Soheil Eghtesadi, financial advisor and podcaster is here to review this matter

Does family wealth matter in business?  Mr. Soheil Eghtesadi, financial advisor and podcaster is here to review this matter

1- When did you start your business?

Oh, I’ve embarked on quite a journey through various businesses over the years. My entrepreneurial spirit ignited at a young age—performing for my parents and selling high-priced tickets to my comedic shows when I was just 5 years old. From there, I delved into selling DVDs, importing, exporting, running a flower shop, venturing into the fruit business, and even launching online stores. If there was a business opportunity, I was eager to explore it. However, my first official venture was in the DVD business when I was 13. It wasn’t until 2006 that I really hit my stride with a major endeavor called “Source of Ink,” which eventually brought in over $300,000.00 in monthly revenue. However, I’ll admit that despite my success, I faced challenges in managing and investing my earnings wisely. This is precisely why I’m passionate about creating educational videos to help people learn how to not only make money but also master the art of financial management.

2- Is Iran good for business? What opportunities do you see in it? If you were in Iran, what solutions would you have for business?

Absolutely, I believe that business opportunities can flourish anywhere, including Iran. Taxes, in various forms, are a part of the business landscape globally; they can come in the shape of both local factions and governmental bodies. In Iran, there’s a perception that once you become successful, the government takes over. However, I see it as the government taking its share when businesses reach a certain scale. For those looking to attain financial freedom and own a few properties, I don’t think this should pose a significant challenge. If I were operating in Iran, I’d likely focus on the food industry. The cost-effective labor force, affordable rent, and a relatively untapped market offer a promising foundation for a successful venture.

3- Is family wealth important in business? Did you overcome your business failures with your family fortune?

Without a doubt, family wealth can play a crucial role in business. However, in my personal journey, I chose not to rely directly on it. I had two primary reasons behind this decision. Firstly, I wanted my father to have the freedom to build his life without the added burden of supporting me financially. Secondly, I aimed to prove to myself and the world that I could achieve success on my own terms. Every step of the way, from the initial investment to navigating the intricacies of business operations, I tackled it all by myself. Even in my personal relationships, I was determined to stand independently, avoiding the pitfalls that can arise when external factors influence decision-making. This facet of my journey also finds its way into my videos, where I provide insights to young individuals on how to navigate healthy and balanced relationships.

In crafting my business endeavors and sharing my experiences, my ultimate goal is to empower others with the knowledge and tools they need to lead fulfilling and prosperous lives.

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