Samuel Leach is a British entrepreneur, investor, trader, and self-made millionaire. He is a regular contributor to Forbes and the founder and CEO of Samuel & Co. Trading. Since 2016, his company has coordinated various trading programs with over 3,000 people from 63 countries to help them learn how to build their wealth by trading in financial markets.

1. Why did you start your business?

I grew up in a middle-class family and was quite entrepreneurial from a young age. Later, I attended free training events and read as many books as I could find on trading and basically taught myself. During my first year at Hertfordshire University, there was an opportunity to expand my knowledge, so I combined both trading and studying for a degree in marketing and advertising. I began trading with my bursary money (which isn’t recommended). By the end of that first year, I had turned my £2k bursary money into £178k. For me, that was such an achievement and the start of my becoming an entrepreneur.

2. How do you set goals for your business?

I started my company initially in my bedroom. In 2012, we rented a small office and established Samuel & Co Trading. Since then, I have become a more successful trader; have 100+ active live traders; and am a social media influencer, Forbes contributor, and TED speaker. In 2019, I grew my YouTube (News - Alert) following to over 120,000 subscribers.

All companies should set goals that are achievable and help increase motivation and determination, as well as offer critical learning strategies for training purposes. To do this, it’s important to define specific goals by determining what you want to achieve. Once you’ve set that goal, stay motivated through to the end. One way to keep yourself motivated is to make your goals public, which will force you to face accountability from others. Also, be sure to set achievable deadlines for all of your goals and mark the occasion once you meet them.

3. How do you stay on top of your workload while motivating your staff?

It’s essential to focus on teamwork, rather than working in isolation, to ensure that work can be completed effectively. Every time you give away a task, you open up an opportunity to do something at which you’re more talented. This outlook empowers me and those around me. Rather than taking on all of the responsibilities, look at who you can work with to deliver the best results possible.

As I’ve already mentioned, it’s important to set clear goals. After that, be sure to communicate with your team, keeping them up to date on ideas, opinions, feedback, and encouragement. Remember to engage with everyone and encourage them to work together because promoting teamwork boosts productivity. This approach will also help you create a positive office environment, which has a significant impact on employee happiness and motivates employees to stay engaged. Also, ensure that your employees have the training they need to do their jobs well and increase their skills. Always recognize and reward good work because praise inspires and promotes loyalty in team members.

4. What would you say is your “secret recipe” for success?

I believe that mindset and drive play a big part in helping me realise my ambition and succeed in everything I do. Helping others achieve their ambitions, no matter what their background, by offering free training has helped some people who would never have had the opportunity to become some of the best traders at Samuel & Co.

The reality is that there is no secret recipe for success. Success on both a personal and business level always, without fail, stems from hard work, patience, and the belief that you will succeed.

5. In your opinion, what are the qualities of a good leader?

A good leader has a futuristic vision and knows how to turn ideas into real-world success. The most important qualities of a good leader include integrity, accountability, empathy, humility, resilience, vision, influence, and positivity. It can only be possible if you inspire your followers by setting a good example. When the going gets tough, they look up to their leader and see how you react to the situation. If you handle it well, they will follow you.

6. Who is your business hero, and why?

There are very few modern-day visionary geniuses. For me, one such visionary and genius, who has inspired mind-boggling innovations and achieved what very few can dream of, changing multiple industries in the process, is Elon Musk. He’s the guy behind PayPal, SpaceX (News - Alert), Tesla, SolarCity, and a few other innovative attempts at making an impact on a global scale. His company Tesla is changing the face of electric vehicles and has challenged all of the notions pertaining to the performance of electric vehicles. While the accomplishments of Elon Musk are monumental, this man is a true inventor and engineer at heart. Being personally involved in all of the development processes of the electric vehicles and spacecraft, Elon Musk is more than just your perception of a regular entrepreneur; he is a self-made billionaire and an innovator of modern times. Elon Musk identified early on that to be successful as an entrepreneur and for a startup to gain traction, you have to appreciate the true definition of struggle, hard work, and hunger for success. I believe that the one major important distinction that sets him apart is his inability to consider failure.