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8 Young Millionaires That You Should Learn From

8 Young Millionaires That You Should Learn From

For those of us not born into excessive money, it’s easy to sit back and bemoan our relative lack of opportunities. However, not all millionaires get giant investments handed to them, either. Humble beginnings only pushed these young millionaires to be their best, who are proof that creativity, perseverance, passion and hard work can all lead to incredible outcomes. No matter what you face in life, these eight young millionaires have some essential approaches to conquering obstacles that we could all learn from.

Be A Self Starter: Nick D’aloisio

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    As a young kid, Nick D’Aloisio was fascinated by computers. Without a coach or teacher to cheer him on, Nick taught himself to code at age 12 and started making apps. Inspired by his passion for technology, Nick created several apps before hitting on a big idea. At 15, Nick created a news summary app called Summly. His app grew insanely popular, and Summly was acquired by Yahoo! when Nick was just 17. Reportedly selling for $30 million dollars, Nick advocates jumping in, regardless of others opinions, saying: “Be fearless and don’t be afraid of failure. There is no better way to learn than through trial-and-error.”

    Think Big: Alexander Amosu

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      Alexander Amosu began his road to success only a few pounds at a time. Growing up in public housing in the UK, Alexander’s first venture was selling ringtones to mobile phone users. His service, which sold ringtone versions of R&B songs, quickly earned him over a million dollars. Despite beginning with only £6 pounds a day in profits, Alexander was in his twenties when he sold the ringtone company for around £9 million pounds. Instead of stopping there however, Alexander used his money to set up Amosu Couture, a high end company focused on luxury fashion. By always thinking bigger, Alexander turned a million dollars from ringtones into a profitable company, then catapulted that into a multi-million dollar fashion empire.

      Try, Try Again: Colin Thornton

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        Colin Thornton is living proof that your perceived shortcomings shouldn’t get you down. When Colin dropped out of his university’s computer science program in South Africa, at first, his options seemed limited. 20 years old, Colin was broke, but pushed forward anyways. He started fixing computers in his parents garage, at first making around $7 an hour. Soon his orders grew, and Colin founded Dial-a-Nerd. The company sends a tech expert to help consumers troubleshoot technology in their own home or business. Despite the difficulties this young millionaire faced getting started, his company now nets around $10 million a year.

        Never Underestimate The Power of Free: Ashley Qualls

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          After studying HTML as a tween, Ashley Qualls wanted somewhere to showcase her early website designs. Initially garnering no real attention, Ashley thought her new site, whateverlife.com, could be bigger. Ashley soon started offering Myspace profile designs to friends for free, plus tips on designing and coding. Whateverlife.com exploded through word of mouth, so Ashley added some space for advertising. After partnering with some big advertisers, whateverlife.com hit 7 million unique visitors at it’s peak.

          Start Where You Can: Cameron Johnson

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            Cameron Johnson‘s road to millions began with a simple request from family to design a card for an upcoming celebration. Soon, Cameron was designing greeting cards for neighbours at 9 years old. Perhaps not the most glamorous of jobs, Cameron soon made thousands from the cards. At 12, Cameron took this money and used it as seed money for several different advertising ventures. These in turn made a profit, and in Cameron’s mid teens, he turned that money into a toolbar program called surfingprizes.com. Cameron’s assets before high school graduation were more than a million dollars, plus he sold one of his companies at age 19 for over a million dollars. Proof that starting small, and growing step at a time, can pay off big.

            Look For What’s Missing: Juliette Brindak

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              Juliette Brindak made a big contribution to the internet when she noticed a glaring hole in the social media landscape. As a preteen, Juliette felt there was no real place online for teen girls. Juliette tried to be a part of the solution, creating a site based on characters from her own ten year old drawings. Soliciting her parents for help to set up the site, “Miss O And Friends” quickly became the online destination for young girls. Promoting positive body image, safety and understanding, the site currently nets 10 million unique visitors a month, and is worth approximately $15 million dollars.

              Always Persevere: Adam Horowitz

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                Despite impressive success now, Adam Horowitz’s journey to success took a lot of perseverance. Adam started creating websites on the side in high school. At first, his attempts were alternately unsuccessful, and worrying to parents. Adam continued building sites throughout high school, making around 30 website with little success. Adam didn’t let it get him down, and soon created programs that help others learn how to make money online. His successful apps “Mobile Monopoly” and “Cell Phone Treasures” have earned him over hundred of thousands of dollars, showing that pressing on really can make all the difference.

                Nurture Your Passion: Fraser Doherty

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                  Another millionaire we could all learn from is Fraser Doherty. Unlike the rest of this list, Doherty was not tempted by new technologies, Fraser instead loved his grandmothers jam recipes. Quickly learning the recipes himself, Fraser started selling the jams around his hometown in his early teens. Soon, Fraser invented a way of making jam purely from fruit. He created the company “SuperJam”, turning neighbourhood sales into contracts with large European supermarket chains. By taking a personal passion and truly pursuing it, Fraser Doherty now sells his products around the world.

                  Regardless of how far away you seem from your goals, truly anything is possible. Plus, if these young millionaires are any indication, age certainly has no effect on what you can do. Jump on in, and follow your dreams. So long as you cultivate perseverance, initiative, and creative thinking, as well as utilize the tools you have now, there’s no telling where you can end up.

                  Featured photo credit: 401(k) 2012 via flickr.com

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                  Last Updated on May 15, 2019

                  10 Most Successful Entrepreneurs and What We Can Learn from Them

                  10 Most Successful Entrepreneurs and What We Can Learn from Them

                  Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

                  Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

                  1. Melanie Perkins: Know Your Worth and Keep Trying

                    Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

                    She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

                    Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

                    2. Bill Gates: Keep Learning and Exploring

                      If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

                      Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

                      He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

                      “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

                      Gates’ success is built on self-improvement and the seeds of an idea.

                      3. Elon Musk: Never Stop Innovating

                        Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

                        Elon Musk, however, breaks that rule.

                        Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

                        When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

                        Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

                        4. Richard Branson: Develop People First

                          British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

                          The billionaire is strongly particular about working with a team that shares his core values and aspirations.

                          Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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                          A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

                          Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

                          5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

                            Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

                            For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

                            While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

                            While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

                            6. Mark Zuckerberg: Start Small, Think Big

                              Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

                              “The biggest risk is not taking any risk.”

                              He’s always daring to explore with a fearless mindset.

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                              The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

                              However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

                              7. Steve Jobs: Live Your Own Dreams

                                Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                                The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                                Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                                After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                                8. Warren Buffett: Balance is Essential to Success

                                  Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                                  After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                                  With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                                  9. Jack Ma: Never Give up

                                    On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                                    Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                                    His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                                    Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                                    10. Tan Min Liang: Passion Can Pay Off

                                      Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                                      Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                                      The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                                      So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                                      Final Thoughts

                                      In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                                      Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                                      Featured photo credit: Patrick Tomasso via unsplash.com

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