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How To Make $50,000 By The Age Of 12

The following article is from TeenMoneyMakingIdeas.Com:

Back in 1994, when he was just 9, (Cameron) Johnson launched his first business out of his home in Virginia, making invitations for his parents’ holiday party. By the seasoned age of 11, Johnson had saved up several thousand dollars selling greeting cards. He called his company Cheers and Tears.

But the little guy didn’t stop there. At age 12, Johnson offered his younger sister $100 for her collection of 30 Ty Beanie Babies, all the rage at that time. The young entrepreneur quickly earned 10 times that amount by selling the dolls on eBay. Smelling potential, he contacted Ty and began purchasing the dolls at wholesale with the aim of selling them on eBay and on his Cheers and Tears Web site.

In less than a year, Johnson banked $50,000–seed money for his next venture, My EZ Mail, a service that forwarded e-mails to a particular account without revealing the recipient’s personal information. He hired a programmer to flesh out his idea, and within two years My EZ Mail was generating up to $3,000 per month in advertising revenue.

Be Fearless

Johnson still wasn’t done. In 1997, he joined forces with two other teen entrepreneurs, Aaron Greenspan and Tom Kho, to create an online advertising company called Surfingprizes.com, which provided scrolling advertisements across the top of users’ Web browsers. Those who downloaded the software received 20 cents per hour (a tiny fraction of the value to the advertiser) for the inconvenience of having ads splay across their computer screens.

The boys employed a classic pyramid strategy to spread the service. Users who managed to refer Surfingprizes.com to a new customer would nab 10% of that new person’s hourly revenue.

But Johnson and company didn’t just sell software–they wanted a piece of that juicy ad revenue too. Their solution: partnering with companies such as DoubleClick, L90 and Advertising.com that could sell the ads for them. Under the agreements, the middlemen would collect 30% of any ad revenue sold, while the three boys split the remaining 70%, out of which they paid those referral fees.

“I was 15 years old and receiving checks between $300,000 and $400,000 per month,” says Johnson. At 19, he sold the company name and software (but not the customer database) to an undisclosed buyer. Says Johnson, “Before my high school graduation, my combined assets were worth more than $1 million.”

Now just 23, and with other ventures under his belt, Johnson spends his time giving speeches and promoting a new book. “Put yourself out there,” he advises. “Don’t be afraid of rejection. Don’t be afraid to ask anything.”

(Story credit: Melanie Lindner - Forbes)

Cameron’s Previous Businesses

TrueLoot.com 2004

CertificateSwap 2004

KazaaGator 2003

AimBuddy 2003

ChooseYourPrize.com 2002

Zablo.com 2001

SearchOmega 2001

VoteStation.com 2001

SurfingXChange 2001

SurfingPrizes.com 2000

EmazingSites 1999