Teens can start an Internet business for less than $10, the price of a web domain. For some teens, becoming a millionaire with their online business ideas was just plain fun. Studying teenage millionaires can be an inspirational way for homeschooled teens to generate their own online business ideas. Internet business for teens harbors less financial obstacles than a brick-and-mortar company.
Ashley Qualls: Becoming a Millionaire With Internet Business
Teen millionaire Ashley Qualls started her Internet business in 2004, at the age of 14. As a graphic designer and programmer, she put together MySpace layouts for free download on the internet. Teens loved her layouts, and shared them with others. Now, her small business, WhateverLife.com, averages over 1 million hits a month, according to Alexa.com. Also, Quantcast has rated this teen's business site higher than Oprah's sites, CBS and FoxNews. According to a CBS interview, her Internet business income is over a million dollars a year. She bought a house for her family and paid cash, moving them out of the 1 bedroom apartment they were living in. Not bad for an initial investment of under $10.
Cameron Johnson: Early Ideas for Small Business
Cameron Johnson was an early entrepreneur. At the age of 7 he already showed signs of a millionaire mindset, selling vegetables from the family's garden door-to-door with his little red wagon. At age 9, he designed invitations for his parent's party and put "created by Cameron Johnson" on the back, thereby soliciting his first 50 potential customers, which resulted in thousands of dollars in income by the time he was 11 and his first website. That year, he invested in the stock market and when he sold out, it was at a return rate of 7 times. At age 12, he bought his 6 yr old sister's Beany Baby collection and sold them through his online business, bringing in about $50,000. In an interview with Michael Dunlop of Retireat21.com, Johnson stated that by the time he was 15, his Internet businesses were bringing him over $250,000 a day.
Adam Hildreth: Becoming a Millionaire by Starting a Business
Adam Hildreth, of the U.K., started his Internet business at the age of 14, with the help of six friends. At the time, he was taking a business class and was condemned by his teacher, who believed he was wasting his time and should stay in school instead of starting a business. Adam and friends sought the help of an experienced business man, much like that offered by the Small Business Administration's Service Corps of Retired Executives. Eventually, the advisor became part owner, investing in the online business that now brings in over 2 million British pounds per year. In an interview with reporter Rachel Bridge, published in July 2006 by the Times Online (U.K.) Hildreth said “I love learning by doing. At university I would be learning the theories behind things, but I am actually doing it and seeing whether it works.”
Self-Taught Business Skills for Teens
Adam Hildreth and Ashley Qualls dropped out of school to operate their businesses. Ashley is currently studying for a degree in graphic design, even though her designs and layouts have already made millions. When Ashley started her business, graphic design was a hobby. She was giving away a product that she had fun making. Her income comes from advertisements on the website. Hildreth's initial success was in creating a social networking site for teens. His income came from advertisements and from consulting with corporations about marketing to teens. A portion of Johnson's income also came from consulting.
Read more at Suite101: Teen Entrepreneurs Becoming a Millionaire Online: Teens Internet Business Income From Legitimate Online Business Ideashttp://homeschooling.suite101.com/article.cfm/becoming_a_millionaire_with_internet_business#ixzz0ctHlEpYs
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