Akshay Ruparelia - Habits of the highly successful
Doorsteps founder Akshay Ruparelia has said that he expects to re-join the hybrid estate agency that he founded aged just 17 but from which he resigned ‘reluctantly’ in June.
Talking during a BBC Asian network podcast interview with presenter Sonya Barlow, he revealed that he’d only ‘stepped down for now’ in response to a question from the presenter, leaving the running of his company to his former business partner and co-founder, Mark Kotecha.
The young entrepreneur, who is now 24 years old, also dispelled some of the claims made for his ‘millionaire’ status by several media outlets including the BBC.
“We did a couple of external funding rounds for the Doorsteps business of £2m+ million to help us grow the business in return for a stake in the business… which valued it at £18 million and based on my shareholding that made a millionaire,” he said.
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Having started the business whilst juggling being a young carer and sitting 5 A-levels – then taking the risk of avoiding university to pursue his passion – he’s keen to share his learnings.
But Ruparelia says this cash will only be realised when Doorsteps is sold which, he admitted to Barlow, is some way off yet – adding that the hybrid agency could only become an impactful business with value once it “achieved scale”.
Ruparelia told the podcast that he wasn’t paid for six months after the Doorsteps business launched, and was only paid £500 a month after that and then, after a few years, £1,000 a month finishing at £3,000 a month just before he left.
His next project, Ruparelia revealed, is a social enterprise recruitment and consulting business helping businesses find talent via the government’s Kickstart and Welfare to Work schemes
From the age of seventeen, Akshay Ruparelia has been building his brand and has successfully become the third largest online estate agency, Doorsteps.co.uk. Doorsteps are the 3rd largest online agency in the UK and have sold over £1billion of homes in 3 years. Having spent 5 years in disruptive change in the property sector, with over 500% growth across 4 years, he is able to explore political and economic challenges, including those imposing on the property market.
He scaled a team from 0 to over 60, including international recruits and made the Forbes 30 Under 30 2021 list as one of the youngest honourees at the age of 23.
His goal is to change lives. Change lives through directly disturbing archaic, consumer-facing practices and help fellow founders, start-ups and charities – change lives through powerful practices of mission, value proposition, technology and high-performance organisational culture. His purpose is to leave a legacy that changed lives – through high performance and supporting others in reaching peak performance. Speaking allows him to express his enthusiasm and demolish common misconceptions about young people. He continues to build upon and share his knowledge with young people through his Coaching and Consulting programme along with his tireless promotion of the government Kickstart Scheme, for which, he is now an approved gateway and aims to place 1000 young people into work by the end of 2021.
Akshay Ruparelia has just spoken at the Young Entrepreneur Summit 2021 in February of this year, alongside some of the most widely successful billionaires and entrepreneurs of this generation.
Having grown up with 2 deaf parents, he shares valuable lessons and experiences being a young carer at home. He declined a potential position at Oxford University to start his own business at 17 however he is an Oxford University 10KSB Alumni.