An important characteristic of entrepreneurship, which is essentially the same for any other endeavor in life, is the ability to take calculated risks, especially at a youthful age. At such early stages of life, specifically in the teenage years, there is the tendency to be daring and to undertake tasks, without the encumbrance of the fear of failing.
This period provides the perfect opportunity to make mistakes and to gain experience and insight from the episodes, which will serve as guides for future endeavors and decision making.
However, if the youth entrepreneur is right on the mark, then business success greets her/his efforts, and at that age, the teenager is on the way to earning handsome returns on investments made in the business venture.
The following self-made teenage millionaires followed their passion and enthusiasm for business began learning/developing requisite skills and put their businesses into gear; and they became wealthy from their business pursuits.
For a good number of them, all it took was for them to turn their hobbies/interest into valuable and sought-after products/services. They are as follows:
1. Jordan Maron AKA Captain Sparklez
Jordan Maron belongs to the select club of young people who turned a hobby into a real, profitable business. Jordan began his match to fame and fortune when he started a channel on YouTube- Captain Sparklez- where he played games and gave tutorials on gaming.
After signing a number of partnerships, Morgan began earning handsome revenues when he began making videos and songs centered on the Minecraft games. Today his YouTube channel has reached billions of views, with millions of subscribers giving him revenues that afford him a net worth of 8.8 million USD.
2. Nick D’ Aloisio
Nick started on his teenage entrepreneurship journey when he taught himself programming from the book C for Dummies and other online instructional videos. By the time he was 12 years of age, Nick had developed his first application, and he would continue to do so, whenever his school embarked on holidays.
His big break came when he designed an application that helped students condense articles and reports to summaries ranging from 100 to 1,400 characters. A HongKong venture Capitalist gave Nick seed funding of 300,000 USD to further develop the application; he would later sell the improved version- Summly – to Yahoo for 300 million USD. Nick also assumed a position with the giant technology firm.
3. Fraser Doherty
Fraser Doherty began selling his grandmother’s jam recipes, in order to earn some extra money. His curiosity led him to tweaking the jam recipes and coming up with formulas based entirely on fruits.
He subsequently re-branded the product as SuperJam and entered into a partnership with a big supermarket retail chain, where his product gained consistent exposure in over 2,000 stores and locations across Scotland. Current estimates put the teenager’s fortune at over 1 million USD.
4. Ashley Qualls
At age 14, Ashely took an interest in HTML and began teaching herself the rudiments of the programming language. During the course of her study, she set up a website WhatEverlife.com; a platform she used to offer her works and services to interested parties.
Although traffic to her site was slow initially, Ashely customized her services for her school mates. This singular move began to engender word-of-mouth advertising and before long, traffic began to grow.
Ashely subsequently registered her website with Google Adsense and began to earn revenues from advert placement on her site. At present, over 7 million users access her website, which enables Ashely earn a couple of millions yearly in Adsense fees.
5. Cameron Johnson
Cameron had already began to show signs of business prodigy from the age of 5.At that time he had began to sell vegetables from door-to door in his neighbourhood. Four years later, Cameron started his own greeting card company -Cheers, and built up an impressive clientele.
At 12 years of age, the teenager delved into the sale of Beanie Babies, which were a popular item amongst children. As sales of the babies slowed down a bit, Cameron took his savings of close to 50,000 USD to start an internet advertising firm, then later CertificateSwap.com. Cameron would late sell the latter venture to investors for a sum in the six figure range.
6. Robert Nay
This teenage millionaire taught himself programming through the conventional way: using a library, from the age of 14. Over the next couple of months, Robert would put down over 4,000 lines of codes, which formed the bulwark of his internet game Bubble Balls.
Once he completed the game, he uploaded it and the reception was mind boggling-within a 2-week period, the game had been downloaded over a million times.
Over the next couple of weeks, the traffic was monetized and Robert Nay received download revenues totaling over 2 million USD for his entrepreneurial efforts.