You don’t have to be an adult to have an entrepreneurial mind, let alone a millionaire mind.
Young adults like Fraser Doherty, Cameron Johnson, as well as Catherine and Dave Cook have become entrepreneurs and teenage millionaires at an early age and they are continuing to prosper and do extremely well.
Even though their names have not yet appeared on the front of Forbes magazine, it is clear that they have chosen the right path towards becoming wealthy and independent individuals. They were confident with their ideas right from the start, made it a business reality, and now they are all earning a fortune and are amongst the richest teenagers currently out there.
A Nine Year Old Entrepreneur
Cameron Johnson is probably the most outstanding example of all of them. When he was only nine years old, he used Photoshop for creating birthday invitation designs. This was his first project which soon became famous in his neighborhood and he started receiving orders. Two years later, he used the money he saved to officially launch a proper business which he called Cheers and Tears. Later on, his younger sister offered him her Ty Beanie Babies, a stylish doll collection that was very much in demand at that time, for $100. He sold the dolls through eBay for 1,000. Because of this huge return on investment he decided to make bulk purchases from the manufacturer and re-sell them on eBay and on his website; Cheers and Tears as well.
In less than a year he was able to save up $ 50,000 which he used to finance his new undertaking, the My EZ Mail. This business deals with a service of forwarding emails – a venture which gave him $ 3,000 per month in advertising revenue.
He mentioned in an interview with Forbes, “As a 15 year old I received checks of between $300,000 and $400,000 per month,” and added “Before my high school graduation, my fortune was valued at more than $ 1 million.” He is now 23 years and has a lot of business plans in mind. He spends his time on lectures and on the promotion of his new book. He also wants to encourage other young individuals by saying, “Do not be afraid of rejection. Do not be afraid to ask.”
A “Sweet” Fortune
Another young successful entrepreneur is Fraser Doherty. Unlike Cameron, Fraser got famous for a recipe from his grandmother, SuperJam jams in 2002. He started his business at his parents’ house in Edinburgh, Scotland. His first customers were also his friends and neighbors, but later on he had too many orders which led him to rent a food processing factory for a few days every month.
He left school when he was 16 to focus on his business. In 2007, his products were displayed in chain supermarkets found in United Kingdom; Waitrose, and Tesco. He had to borrow $900,000 from the bank to support the business. He used the money to rent new factories to be able to produce new flavors and hire 200 employees. Doherty’s company continues to grow. According to him, the secret to his success is having fun in what you do, and that is what he wishes to share as encouragement to other young entrepreneurs.
There’s Money On The Internet
Siblings Catherine and Dave Cook made money online at the age of 15 and 17. Their older brother Geoff is a web developer and with his help and $250,000, they launched MyYearbook.com. It is like an online yearbook, similar to Facebook and MySpace, which has more than three million users and has a market value of over a million dollars.
Still another teenage millionaire is the boy behind Dubit Limited, Adam Hildreth Ashley Qualls. Dubit Limited is an online marketing page which is committed to position companies like Coca Cola among British youngsters. Before he reached 20, the project had already accumulated about six million dollars. At age 14, he started Whateverlife.com. He also made templates, icons, and images for MySpace. Many investors have been interested in buying his business but he keeps turning down the offers.
These rich teenagers serve as an inspiration to others. There are many ways to become a millionaire and opportunities are made available to anyone, but only a few take it. Make use of your fresh ideas, start a business of your own at an early age, and hopefully become a teenage millionaire like these boys and girls, before the age of 20.