Young Millionaires of 2007
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Young Entrepreneurs
Think it's nearly impossible to become a multimillionaire before you're 40? Meet 13 young entrepreneurs who did just that--and learn the inside secrets to their success.
Next: DUB Publishing Inc.More From Entrepreneur.com:
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Courtesy of DUB Publishing Inc.
Herman Flores, 34
Myles Kovacs, 33
Haythem Haddad, 31
Company: DUB Publishing Inc
Projected Sales: $50 million
Description: These young millionaires founded DUB Publishing Inc, a publisher of the automotive magazine, DUB. They borrowed $20,000 in 1999 and started the magazine out of their home offices.
The Secrets to Their Success
Next: Highland HomesMore From Entrepreneur.com:
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Courtesy of Highland Homes
Bob Shallenberger, 37
John Cavanagh, 38
Company: Highland Homes
Projected Sales: $22 million
Description: The two fraternity brothers from St. Louis University used "creative financing" and credit cards to launch their vision in 2003. "We did everything except rob banks," says Shallenberger.
The Secrets to Their Success
Next: JakeMore From Entrepreneur.com:
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Courtesy of Jake
Jim Wetzel, 38
Lance Lawson, 36
Company: Jake
Projected Sales: $7 million
Description: Taking out a home equity loan, Lawson and Wetzel pooled about $150,000 and opened the first location in 2004. They have since opened two more Chicago locations and plan to expand.
The Secrets to Their Success
Next: Threadless.comMore From Entrepreneur.com:
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Courtesy of Threadless.com
Jacob DeHart, 25
Jake Nickell, 27
Company: Threadless.com
Projected Sales:
$25+ million
Description: DeHart and Nickell regularly consult with their users for feedback and are careful to protect the integrity of the T-shirts. They've turned down offers from Target and Urban Outfitters.
The Secrets to Their Success
Next: Specific MediaMore From Entrepreneur.com:
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Courtesy of Specific Media
Tim Vanderhook, 26
Chris Vanderhook, 28
Russell Vanderhook, 30
Company: Specific Media
Projected Sales: $70 million
Description: At age 18, Tim persuaded his brother Chris to charge $99 to his credit card for a domain. With no experience, "we taught ourselves everything," says Tim.
The Secrets to Their Success
Next: Sew What? Inc.More From Entrepreneur.com:
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Courtesy of Sew What? Inc.
Megan Duckett, 35
Company: Sew What? Inc.
Projected Sales: $4.6 million
Description: After immigrating to the U.S. at age 19, this native Australian found work as a technician for a concert production company--and started sewing in her spare time. In 1997 she quit her full-time job, rented a warehouse and incorporated.
The Secrets to Her Success
Next: Action CoachMore From Entrepreneur.com:
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Courtesy of ActionCoach
Brad Sugars, 36
Company: ActionCoach
Projected Sales: $220 million
Description: At age 22, Sugars founded Action Coach. By this time, Sugars owned more businesses than most 50-year-olds and was educating business owners about how to run their companies.
The Secrets to His Success
Next: PopCap GamesMore From Entrepreneur.com:
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Courtesy of PopCap Games
John Vechey, 28
Brian Fiete, 29
Jason Kapalka, 37
Company: PopCap Games
Projected Sales:$20 million
Description: "We're just trying to keep a very simple business model: Make games. If people like them, they'll buy them," says Kapalka,.
The Secrets to Their Success
Next: Xlear Inc.More From Entrepreneur.com:
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Courtesy of Xlear Inc.
Nathan Jones, 37
Company: Xlear Inc.
Projected Sales: $13+ million
Description: Jones' father had invented a xylitol-enhanced nasal wash in a desperate attempt to cure his patients' recurring ear infections. Inspired, Jones purchased the rights from his father, founded Xlear Inc. and created a line of xylitol products.
The Secrets to His Success
Next: Hangers.comMore From Entrepreneur.com:
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Courtesy of The Great American Hanger Company
Devon Rifkin, 33
Company: The Great American Hanger Company
Projected Sales: $10+ million
Description: Rifkin moved back to his hometown to work at his dad's store fixture company. The nuts and bolts of store fixtures didn't fascinate him, but customers' interest in clothes hangers. In 1999, Rifkin had found his new business idea.
The Secrets to His Success
Next: SambazonMore From Entrepreneur.com:
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Courtesy of Sambazon
Ryan Black, 32
Ed Nichols, 32
Jeremy Black, 34
Company: Sambazon
Projected Sales: $15+ million
Description: When Ed Nichols and Ryan Black took a surf trip to Brazil, they discovered açaí, a berry popular in Brazil. "We fell in love with it," says Nichols. They teamed up with Jeremy, and became the first supplier of açaí to the U.S.
The Secrets to Their Success
Next: TibiMore From Entrepreneur.com:
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Courtesy of Tibi
Amy Smilovic, 39
Company: Tibi
Projected Sales: $21 million
Description: When Smilovic's husband was relocated to Hong Kong, she joined him and stumbled upon the idea for Tibi. She noticed that no one made clothing to fit a modern Western woman's lifestyle in Asia. After showcasing the line to a group of women in Hong Kong, the collection became a success.
The Secrets to Her Success
Next: Highland HomesMore From Entrepreneur.com:
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Courtesy of Bear Naked
Kelly Flatley, 28
Brendan Synnott, 29
Company: Bear Naked
Projected Sales: $50 million
Description: After receiving no response from local grocery stores, the duo decided "[to] bring the buyer breakfast in bed," explains Synnott. It was a success! Bear Naked is sold at major grocery stores today.
The Secrets to Their Success
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Recent Comments
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ncpamclark 12:29:50 PM May 23 2008
If people are willing to put forth the effort, I know a company with a plan!
www.AMillionaireBusiness.com
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