20-year-old Moscow citizen Daniel Mishin became the winner of the Russian final of the international youth award for entrepreneurship GSEA.

Now, he will represent Russia in the final competition of young millionaires, which will be held from 14 to 16 November in New York. "Oscar" winners receive ten thousand dollars.

Our "RG" correspondent tried to find out from him how to become rich and successful.

In Business since the age of 12

Daniel is the owner of a network of Moscow hostels. Revenue is 60 million rubles per year. And he believes that becoming a successful entrepreneur is a real challenge, even for a schoolboy.

"I started my business at the age of 12," Mishin says.  From Sevastopol, where we lived, I went with my parents to Berlin for a vacation. When I first learned about the system of affordable housing - hostels, I had little money. Having returned home, I convinced my parents, who are not businesspeople (my Father is a former military man, and my Mother is an English teacher), to help me open a hostel. We had one apartment, inherited from my Grandparents, which was empty. They gave me $ 100 for bunk beds and $ 100 for bedding. I put an ad on the Internet. Immediately, I found guests."

When Daniel was 16, the family moved to Moscow. Now he has three hostels here, four more in Ukraine and one in Perm. In Moscow, these are not apartments, but entire buildings, located in prestigious areas - near the metro stations "Smolenskaya", "Arbatskaya", "Mayakovskaya". But it's not freehold property. Mishin and his partners rent them. A place in the hostel per day costs 450 rubles. The average annual occupancy rate is 90%. Most of the guests (65%) are Russians, the rest are foreigners.

Besides Mishin, six young millionaire entrepreneurs entered the Russian final of the international award. Two of them are Moscow citizens: Petr Osipov, 25, co-owner of the company "Biznes Molodost'" (they help others to open their own business), and Dmitry Yurchenko, 30, owner of the company "Button of Life" (sells a device that gives an alarm signal if the owner fell down or felt ill).

How to get 500 thousand to start up a business?

Apply to the state budgetary institution "Small business of Moscow". Attach certified documents to the application, including a business plan.

Wait for the end of the legal and financial examination of the documents.

After the review, if the organisation gives "the green light", the applicant will be called for the “examination" process. At the meeting of the industry commission, which decides on the amount of the subsidy, the future businessman must answer the questions asked.

The decision to grant a subsidy is taken by a vote of the commission and the Head of the Department of Science, Industrial Policy and Entrepreneurship.

By the way, here are the 7 secrets of success from Henry Ford:

1. Serve others.

2. Focus. You can do more than you think you can.

3. Be productive. You achieve success through effective time management. 

4. Solve problems. Don't waste time by going around problems, solve them.

5. Nothing is particularly difficult. Break problems down step by step, it will lead you to success. 

6. Keep your eye on the prize. Never be distracted from your goal.

7. Think. Thinking is hard work, but whoever does it can prepare for success.

Competence

Alexey Komissarov, Head of the Moscow Department of Science, Industrial Policy and Entrepreneurship: “A person has a chance to start his/her own business regardless of age. What does one need? The will to win and the right idea. The stories of the guys who reached the final of the GSEA award clearly demonstrate that the initial capital is not a prerequisite at all. The main thing is to be able to present yourself, to attract by your enthusiasm. After all, investors invest not so much in projects as in people. Nevertheless, the city authorities are trying to support businessmen, beginners in every possible way. After all, every new business means new jobs and income to the city budget. Entrepreneurs and beginners can count on a subsidy of up to 500 thousand rubles. Also, a second-tier microfinance fund is being created, thanks to which entrepreneurs will be able to receive preferential loans.”