Here are four examples of young entrepreneurs who became multimillionaires in a short period of time, building their financial futures on invention. The simple billion dollar idea comes out of a need to improve what exists and what can be done much better.
The examples are taken at random as the world is full of people doing this kind of work. See what drives them.
Need is the mother of invention:
1. Gurbaksh Chahal, born 1982
Also known as G, an American entrepreneur, author and TV Personality, Chahal appeared on the Oprah Winfrey Show. He created:
- Clickagents.com at the age of 16 , sold it for $40 million to Yahoo in 2000
- BlueLithium.com at the age of 22, sold it for $300 million to Yahoo in 2006
He was born in India and moved with his family to the USA at the age of 4. After having difficulties with his peers at school he concentrated on expanding his own creativity, which brought to life his first company and was soon followed by his second invention BlueLithium.
His core values:
- excellence in what he does
- creativity, inventiveness (his second company, BlueLithium, was named Top Innovator by AlwaysOn)
- the best revenge is doing well; his dream fuelled his success
- getting ahead and controlling his own destiny and not letting anyone else try to put him down
watch the most recent video, a very interesting conversation, recorderd in India
2. DAVID KIM, born 1979
C2 Education, America – c2educate.com – 2008 – $48 million
While in college, David started teaching young kids. When he saw how they improved he knew that it was something that he should be working on. He loved watching their ability to improve at anything they really wanted. “Being able to motivate them and relate to them, since I wasn’t that much older, I saw there was a niche for that type of mentoring and tutoring.”
- helping others succeed
- taking care of the pupil’s individuality
- working with the right people, choosing excellent tutors and expanding the brand
- knowing the big picture, the purpose of his business
3. GARY GOLDBERG, born 1970
America, Rhode Island – cleanrest.com – 1998 – $20 million
This is a company that produces allergy barrier bedding products. The idea first came to Goldberg after his young child had major problems with allergies which prevented him from sleeping because of the dust mite waste. The high quality products he needed did not exist at that time, so he decided to invent them.
- obsessed with improvement
- obsessed with security of people’s health
- perfectionism: be the best, and the market is always for there you
- authenticity and honesty, and building the brand on the foundation of integrity and high quality products
Never give up. “Everything that I have ever started in my entrepreneurial career has been mocked at the onset. People would say: ‘That’s ridiculous. What do you think you’re going to do? Why would anybody want that?’ If you believe in it, rationalize it, go back to it and rework it. It can happen.”
4. TONY HSIEH, born 1970
Zappos.com with Nick Swinmurn
This is a one-stop online shop for men’s, women’s and children’s shoes that is projecting $1 billion in sales by the end of 2010.
An idea emerged when Nick Swinmurn went to the mall and lost time searching for shoes that he wanted. A light bulb moment arrived with the will to simplify and create an online store. He encouraged Tony Hsieh to invest his money and from 1999 to 2003 the company made $65 million.
- will to expand
- desire to deliver excellent service
- receptiveness to the needs of the current customers
- be humble
- create fun and little weirdness
See the full-length interview with Tony Hsieh , follow the link ( Meet The Boss TV):
An American proverb says: “money lies on the street”. It takes eyes to spot the opportunity.