YOUNG ENTREPRENEURS - YOUNG MONEY

Research

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“In today’s rapidly changing world, the people who are not taking risk are the risk takers.” – Robert Kiyosaki

Call them million-dollar babies. There are thousands of young and immensely successful entrepreneurs across the globe. They don’t inherit stuff; they build it themselves, using their entrepreneurial and leadership skills.

According to a study done by a US nonprofit foundation that encourages entrepreneurship, 40 percent of people between the ages of 8 to 24 want to start a business at some point. Entrepreneurship is becoming more popular among teens and a lot of kids are not interested in being a salaried worker. Everyone should be able to use their potential and become what they want to be and make a difference in the world.”

Entrepreneurship is the act and art of being an entrepreneur or one who undertakes innovations or introducing new things, in an effort to transform innovations into economic goods, which could result in new organizations or may be part of reviving mature organizations . The most obvious form of entrepreneurship is that of starting new businesses. In recent years, the term has been extended to include social and political forms of entrepreneurial activity.

The concept of entrepreneurship is a factor in microeconomics, and the study of entrepreneurship goes back to the work of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries, which was ignored theoretically until the late 19th and early 20th centuries .

When we talk about young entrepreneurs the famous Mark Zuckeberg of Facebook- youngest billionaire in the world, is the name that first comes to most of the people’s minds. Mark Zuckerberg started from scratch and rose to become the youngest billionaire in the world all in a small time span like five years. Some people call him an accidental billionaire, or a billionaire hacker, but he definitely deserves his current status. It’s also worthy to notice that he is a drop out from the celebrated Harvard University.

Though not as popular as him there are many young entrepreneurs who have , taken risks, identified market needs, thought strategically, researched ,argued ,imagined beyond the norm and out of the box ,influenced others ,convinced people and introduced many innovative ideas to the world.

It could be a physical product that they made, maybe they created a software and wanting to help those irritating spies from gaining government information. Whatever their flavor of entrepreneurial streak may be, they have been able to stand out from the crowd in a young age.

Dustin Moskovitz who was born in 1984 is an American young internet entrepreneur who co-founded the social networking website Facebook along with Mark Zuckerberg, Eduardo Saverin, Andrew McCollum and Chris Hughes. In 2008, he left Facebook to co-found Asana a web and mobile application designed to improve the way teams communicate and collaborate.

In March 2011, Forbes ranked Dustin as the world’s youngest self-made billionaire on the basis of his 7.6% share in Facebook.

Now Dustin Moscovitz may be a little less familiar to most of the people than Mark Zuckerberg, but he’s definitely someone who has introduced ground breaking concepts to the world in such a young age.

In June 2004, Zuckerberg and Moskovitz took a year off from Harvard and moved Facebook’s base of operations to Palo Alto, California, and hired eight employees.At Facebook, Moskovitz was the company’s first chief technology officer and then vice president of engineering.He led the technical staff and oversaw the major architecture of the site, also being responsible for the company’s mobile strategy and development.

Matthew Mullenweg born in 1984 in Houston, Texas, is an American online social media entrepreneur .He is the founding developer of WordPress, a resource a lot of us use on a daily basis.His background is anything but technical.He went to a performing arts school, learned to play the Jazz Saxophone. Mullenweg attended the University of Houston and majored in Political Science before he dropped out in 2004 to pursue a job at CNET Networks. In late 2005, he quit his job at CNET Networks and founded Automattic. And then he went on to create WordPress.com one of the best blog web hosting services in the world.

In June 2002 Matthew started using the b2/cafelog blogging software to round out the photos he was taking on a trip to Washington D.C. A few months after development of b2 ,in January 2003, he announced on his blog his plan of forking the software to bring it up to date with web standards and his needs. When he started WordPress from the b2 codebase,Matthew was only nineteen years old, and a freshman ,studying philosophy and political science at the University of Houston .

In March 2007, Matthew was named number 16 of the 50 most important people on the web by PC World magazine, reportedly being the youngest person on the list. In October he was rumored to have turned down a US $200 million offer to buy his company Automattic.

In 2008, Mullenweg received the Information Technology Innovator Award – presented by the Temple University Fox School of Business Management Information System Department to those who have applied Information Technology to create new business opportunities

In March 2011, Mullenweg was named one of the top 10 most influential people online for changing the face of the internet.

Enough talking about boys! We have a female entrepreneur who transformed her hobby and passion for apparel to a major business venture. Susan Gregg-Koger is the CEO and co-founder of Modcloth.com, an American online retailer specializing in vintage, vintage-inspired and indie clothing. She operated the site from her college dorm-room where she managed to process orders herself whilst keeping up with her studies. Her web site gradually grew and is profit generating outstandingly well. The site is used by over 300 designers all creating exclusive garments for their customers. Susan turned her pastime into a business known for its inventive shopping experience. In 2013, Susan, along with her husband Eric (Co-Founder and Chief Executive Officer), was listed in Forbes’ “30 under 30.” And they are worth an estimated $15 million. Kudos to being a young female entrepreneur Susan.

So they were some princes and princesses of the young entrepreneurial world. There are so many qualities and attributes that anyone can learn from them to be motivated, inspired and think about ourselves again