Wednesday, 4 April 2012
How to become a millionaire? they would sure answer that it takes a bit of inspiration, a bit of luck and a lot of hard work. If you are at your mid teens and wonder how to become a young millionaire, then these stories will be a good fuel for thought. If you have left school long ago, but dream if becoming a millionaire is still fresh and actual, then consider this post a source of inspiration. If these teenagers did it, then you can do it as well!
1. In the 2002 at the age of 14 years, Fraser Doherty started making jams in the kitchen of his parents in Edinburgh. By the age of 16, Doherty left school and devoted all his time to this business. In 2009, revenue of SuperJam reached $ 1.2 SuperJam million. Since then one of the youngest millionaires has published 2 books and various Superjam merchandise, and prepares to release baking mixes and kids jams which contain no seeds. The brand is now selling in over 2,500 stores across 6 countries and ever expanding.
2. In 1996, Michael Furdyk, who was then 16 years old, started MyDesktop.com, a site about computers. His “office” was in the basement of his parents’ home in a suburb of Toronto. MyDesktop.com was full of tips that Furdyk was collecting from all over the web. In one of the chats he found his classmate Michael Hayman from Australia, who soon moved to Toronto to help building business. Tightening the belt, comrades found (by barter) servers and office. Soon MyDesktop.com reached monthly revenue of $ 60 000. In 1999, Furdyk, Hayman and their third partner sold company’s site Internet.com for more than $ 1 million.
3. In 2005, a 15-year-old Catherine Cook and her 17-year-old brother, Dave, leafed through the pages of their school’s annual album, and decided to create its free online version. Soon Cooks started cooperation with social network Zenhex.com, doubling the number of visits to their site. By 2006, MyYearbook.com raised $ 4.1 million from US Venture Partners and First Round Capital. Business has attracted advertisers such as Neutrogena, Disney and ABC, the number of participants has reached three million worldwide. Teenage millionaires Cooks claim that annual sales measure in seven-digit numbers.
4. In 2002, when Milun Tesovic was 16, he launched a site where he published lyrics of his favourite songs, just for fun. Two years later he decided to turn it into a business. Today, Metrolyrics.com database includes over 2 million songs and 20 employees. Revenues from advertising reached $ 1 million in 2007, when Tesovic was only 21. Tesovic combined work with studies at the University of Simon Fraser in British Columbia in Canada, where he received a master’s degree business. “I get no education for a career – he says – it contributes to personal growth.”
5. 14-year old Ashley Qualls from Detroit Qualls created her multi-million dollar website with $8 borrowed from her mother for domain registration. She created a site that was initially planned as her personal online portfolio with photos and graphics. But soon, following the demand, it grew to a site offering free designs for MySpace pages and a guide for teenagers who want to learn how to create your own graphic design Whateverlife.com. In March 2006 Qualls reported to receive an offer from unknown buyer to sell the site for $ 1.5 million, but rejected it.
6. Adam Hildreth, At the age 19
Business: Internet marketing and security (Dubit Limited)At the age of 17, Adam Hildreth started a social networking site and he named it Dubit Limited. Initially, it was exclusively for people living in the United Kingdom and allowed them to play games and share informative articles. It took Adam less than a year to make it the biggest networking site in the country. In 2005, at the age of 20, Adam, along with Peter Maude, founded another technology website named crispthinking.com for monitoring and protecting children. And later, he took his services to fortune 500 companies. Today, Crisp protects 380 million online users worldwide. He was among 20 richest teens in U.K. In 2008, Sunday Times Rich list featured him as the 23rd richest among 100 young richest people in U.K.
7. Ashley Qualls, At the age 17
Business: Online design (Whateverlife.com) Back in 2005, at the age of 14, Ashley launched her website called Whateverlife.com which would provide free MySpace layout and tutorials on how to do graphic designs and coding of their favorite template layouts. By the end of 2007, when the popularity of MySpace was all time high, WhateverLife would attract 7 million unique visitors every month. According to some reports, Ashley made close to $2 million from her website.
8. Catherine and David Cook , At the age 16
Business: Social networking site (myYearbook) Catherine Cook was just 15 when she and her brother David Cook developed MyYearBook, a social networking site for teenagers. In 2005, they took help from their elder brother Geoff, who invested $250,000 for its maintenance. The website was launched in the same year and soon became the third most popular social networking site in the U.S.A.
Today, MyYearBook has 33 million registered users and is not restricted to teenagers and social networking. It offers plenty of things such as games, live chat, photo and video sharing and more.
9. Chris Phillips ,At the age 17
Business: Website Dot5Hosting, In the year 2002, at the age of 17, Chris Phillips created a website named Dot5Hosting and within two years his earning crossed the million dollar mark. In 2004, he was one of the richest teens in the United Kingdom.
Today, Dot5Hosting offers many services which include web hosting and management, email services, domain registration and E-commerce services.
10. Sean Belnick ,At the age 14
Business: Website BizChair.com ,At the age of 14, with the investment of $500, Sean Belnick founded Bizchair.com. He started importing chairs from China and selling them online. His honesty in providing quality products brought him instant success. In 2006, his $500 investment gave him $24 million in revenue. The company opened 327,000-square-foot warehouse in Canton to store products and expanded from offering office chairs to school furniture, home furniture, and medical equipments.
11. Cameron Johnson
Started at the age 9 and became millionaire before graduating from high school
Business: Website ,In 1994, at the age of 9, Johnson started his first business of selling his sister’s Beanie Babies over the Internet out of his home in Virginia. At the age of 12, he successfully made $50,000 and within 3 years, his company started generating $15,000 revenue per day. in 2000, he was the youngest American who was appointed to the board of a Tokyo-based company. In 2007, he wrote a book titled “You Call the Shots: Succeed Your Way – and Live the Life You Want – with the 19 Essential Secrets of Entrepreneurship” which became an immediate bestseller. Over the years, Cameron has been appearing in several magazines, popular T.V shows and newspapers; his coaching inspires thousands of people.
12. Fraser Doherty, At the age of 14
Business: Retailers in the UK (SuperJam), Fraser Doherty, a Scottish Entrepreneur, is the CEO of ‘SuperJam’. He started his business in a quite traditional way in home kitchen using his grandmother’s recipe. With the growing demand, he tweaked with the receipt and gave it a name ‘Superjam’. He successfully took his business to a new height expanding his customer base from his friends and neighbors to approximately 184 Waitrose stores in U.K.
13. John Magennis, At the age 14
Business: web designer ,In the year 1994, 14 year old John Magennis, a self taught programmer, started his career as a web designer and would charge only $15 to create a website for a company. Within short period, with the growing demand he began charging as much as $30,000 for a single website. In less than two years, he started earning half a million dollars annually.
14. Mike McDonald. This enterprising young man went a different route than most teen millionaires with his talents. He got involved in the world of professional poker playing. Scoff if you want but he’s earned millions from his poker skills. He earned $1.4 million in just one large poker game last year. He was 18 years old.
15. Carl Churchill. This UK web designer has been called the British Bill Gates. He started his business at the age of 12. By 19 he was making a turnover of over one million pounds. He is predicted to be worth over £100 million by 2020.
16. Brett Klasko. This young man was only 14 when he first became a business executive. At he was running a multi-million dollar financial dot-com company. He serves as an inspiration to young business people today.
17. Anand Lal Shimpi. He was just 17 when he created anandtech.com and it was already earning over $1.5 million dollar in ad revenue that year. It continues to be a highly successful tech business today. He remains the CEO and Editor-in-Chief of the organization.
18. Jayson Meyer. Building customized computers can be worth a lot of money as this young man knows since his company doing just that was earning over $1.5 million in revenue by the time that he was 17.
19. Ephren Taylor and Michael Stall. These two paired up to launch a business called GoFerretGo which helps teens find employment. The site was quickly valued at over $3 million. Taylor had started into business when he was only 12 making video games.
20. William Felix. How successful can a lawnmower company be? It can be a million-dollar business if you’re good at which was proven by the success of this seventeen-year-old.
21. Sean Belnick. This kid was 14 when he spent just three days forming a business plan and creating a business called BizChair which sells office furniture and other supplies. In less than half a dozen years, he was earning $50,000,000 per year! The business consistently ranks among the top retail businesses in the world.