Yes. It is true. A 14 year old has just made £2 million as a direct result of creating his first online business.
Let me tell you more.
His name is Harvey Millington and he is from rural Somerset in the UK. Basically, he was a boy with an idea, some guidance from his father who ran a small offline business, and the drive and determination to make it work.
In the UK, like in many countries, we have to pay tax to own and use a car. For years, once the car tax was paid, we were presented with a little disc to put in a holder inside the windscreen. This proved to passing police officers that your car tax had been paid. It also had a handy date on it, so that you could see it when coming to your car, which would remind you that it needed renewing.
Recently, with the advent of registration plate number recognition cameras and instant look up of databases - the need for the disc has gone. But, bizarrely, there was some upset about this. People were concerned about how they would remember when their tax was due for renewal.
In steps Harvey Millington...
He created novelty tax discs which simply contained the date on them. He sold them for four pounds each including delivery. He marketed it online.
In the first year, his new company made over £100,000.
This is truly an example of having the right idea and bringing it to market in a timely fashion!
But this is not where the story ends.
Harvey took £40,000 and bought three pieces of land, with the idea of making a luxury campsite. Please note - the tax disc business - although profitable, was only a means to a more profitable end (very shrewd).
But this dream never came to fruition...
Harvey was approached by a construction/development firm who wanted to build on his land.
He sold the land to them for a staggering £2 million!
Not bad from selling a few paper novelty tax discs.
So - the lessons in this story are as follows:
- Think creatively about gaps in the market. Find a need and fill it - especially if that need USED to be met and is no longer.
- Think long term. Your online business needs to generate income. But you need to use that income to generate wealth so that you can keep it. Learn to invest wisely.
- You are never too young, old, inexperienced etc. to make it in this industry. If you are selling something people want - you can succeed beyond your wildest dreams.
I teach all about how to find gaps in the market and how to fill them quickly in my membership. I keep things simple and step by step. I like it that way.
If you are looking for the answers in how to become profitable online then check it out below - I can't guarantee that you will strike a £2 million property deal off the back of it - but you never know!