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.
If I would ask any of these young entrepreneurs “ 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. But in the end it all pays off and the status of teenage millionaires is a great start for successful adult life!