In this fast-paced and competitive world of entrepreneurship, stories of remarkable individuals who have risen from humble beginnings to achieve extraordinary success have often captured our imagination and inspired us to be great in our respective fields. 

We might think that the journey toward entrepreneurship is like a smooth road, but it’s not the same for everyone. It means getting hit with obstacles and still having the will to keep going. In this article, we are going to introduce you to a young man, a highly ambitious entrepreneur, and CEO of two major companies, who is the perfect inspiration for the next-generation 21st-century investors and entrepreneurs-to-be. I am talking about the journey of Grant Mitterlehner, a college dropout who embarked on an entrepreneurial adventure with a mere $148,000 in savings at the tender age of just 24. 

The Early life of Grant Mitterlehner 

Grant Mitterlehner is a native of Houston, Texas, and he was enrolled in a college in Brooklyn. He came from a middle-class family, and that obviously meant that he had to face financial struggles from the beginning. While he was living in Brooklyn and completing his degree, he realized that he was broke, could no longer afford to live in Brooklyn, and could no longer afford to continue his college education. Thus bombarded with hardships, he had no choice but to drop out of college. 

Dropping out of college meant that he needed to head back to his hometown, where he could start living with his mother again. He had wished to continue his degree from where he left it off, but no university was willing to accept his credits. This only meant he needed to start college all over as a freshman 

Mitterlehner knew that wasting time to restart his degree was not an option for him, and thus he landed a job as an Uber Driver to meet his daily expenses. As they say, the will and determination of an individual working to escape the rat race never go unnoticed. Later,  due to his notable work ethic and an urge to strive more, he started to work as a Regional manager, and in just four months, Mitterlehner climbed the top[ of the corporate ladder and was promoted to Director, holding authority over five major markets. 

Even after being promoted, Grant Mitterlehner did not wish to settle yet, as his ultimate wish was to start his own venture. This was the turning point of his story. But the real question we need to ask ourselves is, how did a college dropout who had a stable job as a Director go on and become an entrepreneur? 

After circumstances forced Grant Mitterlehner to quit his job. He needed a job, and from the time he got a job, his ultimate goal was to reach a six-figure income, where he could also learn all the necessary skills and expertise that are related to sales to start his new venture. 

During his learning phase, he was able to focus on his way up by developing expertise in sales, networking, and helping new sales reps learn the art of business. This helped Mitterlehner build up his finances and savings, learn all the insights of the solar industry, and learn how to manage people to get the maximum output. 

Starting a new business is not easy, and it was also not easy for Grant Mitterlehner. Starting a business means that you need startup capital to pay all the expenses involved in creating a new business, which includes office space, rent, R&D, permits, licenses, new hiring, and the list goes on. The question we need to ask here is, How was Mitterlehner able to raise funds to start his own business?

During his first year on the job, Mitterlehner was able to get a 50% increase in his salary. During this time as well, he continued to live with his mother to reduce any expenses, such as rent and other expenses one faces when living on his own. He used to keep track of all his daily expenses and limit his spending to a maximum of $1,500 each month, and as a result, he was able to save up to 40% of his entire monthly income. To summarize, the more he earned, the more he saved. 

Grant started receiving his paycheck every two weeks, and the world instantly divided his salary into different categories. He divided one part of his savings for taxes, the second for his expenses, and the remainder for his savings. As far as savings were concerned, his first and ultimate goal was to build up a $10,000 emergency fund with his savings. When he was able to reach his target, he started investing 50% of his money in an investment account. 

As soon as Grant was able to save the targeted amount, he finally opened a brokerage account and began investing using dollar cost averaging by putting 50% of his monthly savings into this account. Thus, he used the strategy of impact investing to save his money. 

Finally, the year came when Mitterlehner was able to start his business venture. In 2020, Mitterlehner was only 24 years old when he raised $148,000 to start his very first venture, called MittGroup.  MittGroup is a renewable solar energy company that helps the masses receive efficient energy resources. 

By 2021 alone, MittGroup saw revenue growth of 107% and was also awarded the #1 Best Place to Work for Employees by the Houston Business Journal. 

Within the next year, Mitterlehner was able to establish his second company, Mitt Blockchain, which is a crypto mining company focusing mainly on Bitcoin and Ethereum. Later, he co-founded CryptoArmour to improve cybersecurity efforts in the crypto space. Mitterlehner, along with his co-founders started his third company to educate people about crypto security and why it is important for the industry’s future. 

What makes Grant Mitterlehner a successful entrepreneur? 

Apart from all the investment and saving techniques that Mitterlehner incorporated into his journey, what do you think are the things that helped him become a successful entrepreneur? 

Mitterlehner always reads books in his free time. Before starting his business and even now, he spent most of his time reading books and those books revolved around finance, personal development, and business. He also spends a considerable amount of time studying markets, various industries, the economy, and how to manage people well and make key decisions. 

The pathway to becoming an entrepreneur was not easy for Grant Mitterlehner either. There was tremendous uncertainty every other day, but instead of being disheartened, Mitterlehner chose to embrace this uncertainty. According to Grant, one needs to take risks in order to achieve the impossible and do something extraordinary, and that is what Mitterlehner did. 

Legacy and Future Endeavors 

Today, Grant Mitterlehner’s success story serves as an inspiration to aspiring entrepreneurs worldwide. He has not only achieved financial success but has also made a lasting impact on the tech industry. As he looks to the future, Grant remains committed to pushing the boundaries of innovation and mentoring the next generation of entrepreneurs. 

In conclusion, the journey of Grant Mitterlehner, from a college dropout to a successful entrepreneur, is a testament to the power of vision, determination, and willingness to take calculated risks. His story reminds us that the path to success is often paved with challenges, but with unwavering dedication and a commitment to innovation, one can overcome any obstacle. To read more inspirational stories, check out Europe Entrepreneur, Business Magnate, APAC Entrepreneur.