For someone as young as Mihir Sukthankar--still in his teenage years--it doesn't seem like there's much room to talk about early lessons. One could say there simply wasn't enough time to have any, and that might be the case for someone else. Mihir, who's already behind a successful business with Traders Circle X and shows no signs of stopping, has more than a few to share.

Having started stock trading while still in high school, Mihir had the good fortune to stumble upon something he loves doing early in his life. However, while he'll be the first to champion passion and love for one's work, it's impossible to overlook the importance of those few formative lessons that came early on and shaped what's turned into a successful career.

The Lessons Learned at Home

When talking about formative lessons, the first things that come to mind are the things parents teach their children. Families often have their ways of doing things, their mottos and credos, and the values they hold above all.

With Mihir's parents, the most important lesson is a two-parter. The first part is that there are no limits to achievement if there's a willingness to put in the effort, do the hard work, and persevere until reaching the results. That's the part that told Mihir he could touch the sky if he tries hard enough, for long enough.

The second part, however, is all about keeping one's feet on the ground. Mihir's parents believed that the values they hold dearest are what helps with that. So, to keep his head out of the clouds and his feet firmly planted on the ground, Mihir only needed to remind himself of the basic values of kindness and compassion his parents instilled in him.

How to Process Failure Properly

To be an entrepreneur means to fail. The statistics that show how most startups close their doors within their first five years say it all. Anyone who's ever tried their hand at starting something knows that it's important to be ready for failure to eventually succeed.

Another thing that's important for success is the ability to learn quickly, which comes easily to Mihir when it comes to trading. But the lesson he developed early on is that failure and learning, both intrinsic parts of entrepreneurship, don't have to be separated. In fact, he'd say that he doesn't believe in failure at all.

He does believe, however, in learning. He believes in the lessons he took from what he's been through by now. He will, undoubtedly, go through plenty more. He will see more wins, but he will also have, as he puts it, more lessons. It's essential, however, to always frame the latter correctly.

The Best Time to Start Self-Development

The thing about change is that its impact might not be obvious right away. It might take time for it to sink in, or simply for the results to become noticeable. That's why seeing the full effects of changing anything, in any sphere of life, can take some time.

Implementing those changes will also take time, however. That's why Mihir thinks that the best time to start doing self-development work is always right now. The sooner the work begins, the sooner the results will show. It's as simple as that.

It doesn't hurt that this kind of attitude can help combat procrastination, one of the things Mihir identifies as major roadblocks on the way to success. If there's a change that needs to happen, and when there are things to develop and work on, now's the best time to do it.

If you want to keep up with Mihir Sukthankar, you can follow him on Instagram at @mihirtrades.