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Ron Chan is a Sales & Marketing Strategist at Naida Communications. He helps people and businesses increase their sales by developing effective Marketing Strategies. You can contact Ron by emailing him at ron@naidacom.com. To learn more about Naida Communications visit them at www.naidacom.com.

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Wealthy People lists, check out any magazine rack and you will see a multitude of magazine covers that feature some sort of list.  The lists that usually grab my eye are the ones that feature either the top corporations or richest people. 
Below you will see the bottom 30 individuals on the 30 under 30 list compiled by Aarron Hatfield over at Income Diary.  I like reading these lists because they give me a sense of inspiration.  And despite what you might think, it’s not in the sense of money either.  Sure, who wouldn’t want to be worth millions and millions of dollars.  For me, the sense of inspiration is about ideas and how they can pay off if you believe in them.

This 30 under 30 list is interesting in that it serves as a great example of how the internet is the land of great opportunity.  These young individuals barely out of high school are creating tremendous value by meeting needs of others…whether it’s a platform to facilitate sharing or a service to deliver convenience or providing valuable information the bottom line is…if there a market for it the end result is sales – whether or not it’s a profitable market is a different story.

So what can you take away from this article?  Check out the profiles on the Wealthy People List.  Think about what they have brought to the table.  Then think about what you can bring to the table in your life.  What do you bring to work, your relationships, family, your kids and yourself?  As the old adage goes: garbage in equals garbage out.  If you focus on giving rather than taking…you will begin to see returns. 


#30 David Karp – Age 24yrs  www.tumblr.com

Worth an estimated $5.5 million

david karp thumb Wealthy People List–30 Under 30 Internet MillionairesDavid started the company Tumblr.com in 2007, with the aim to help anyone, share anything online. Sounds a pretty good idea, but who is actually going to use it? Well, 4.2 million of us is the latest estimation, so I think it’s not a bad idea at all. So far he has been handed $5.5 million in venture capital funding (so this personal fortune may now be more or less) and he has helped hundreds and thousands of users to share their content around the globe.


#29 Dylan Smith – Aged 22yrs   www.box.net

Worth an estimated $7 million

dylan smith thumb Wealthy People List–30 Under 30 Internet MillionairesDylan is the second in command at Box.net, and currently resides as the CFO there. Dylan has been the go-to-guy in a number of other various start-ups besides Box.net. Smith is the right-hand man of Aaron and focuses his efforts more towards the sales, management and budget side of the business. Together they have so far managed to raise nearly $15 million in funding for start-up corporations. I can see this pair are going to be hard to miss in the coming few years. Watch out.


#28 Aaron Levie – Age 23  www.box.net

Worth an estimated $7 million

aaron levie thumb Wealthy People List–30 Under 30 Internet MillionairesAaron is the CEO of the website Box.net, for those of you that now of Box.net, here is one of the founders. Starting back in 2005 Aaron aged just 18yrs old created the website as a business project for college. The website came on in leaps and bounds through the college project and it was decided to bring the idea and project into the real world, Box.net was then officially incorporated that same year. The website business managed to gain capital from business “Angel” Mark Cuban, followed by some rather large sums of investment from third parties. The company aimed at helping businesses to share content and information internally and externally through their marketing and communication products and service.


#27 Joshua Dziabiak – Age 23yrs   www.showflix.com

Worth an estimated $9 million

Joshua Dziabiak thumb Wealthy People List–30 Under 30 Internet MillionairesJoshua started his first company, a web based hosting and design site aged just 15yrs, by the time he was 18yrs he had managed to grow the business to such a degree that he sold it for $1 million. Now that’s not bad by anyone’s standards, £1 million by the age of 18yrs from a company he started as a mere boy! Since then Joshua has managed to break through yet again and is now the CEO and co-founder of Showclix.com a ticket sales company that serves over 1,000 customers a year with over 1 million sales so far! It seems Joshua doesn’t know how to fail. 


#26 Sean Whalen – Age 28yrs   www.alterg.com

Worth an estimated $10 million

SeanWhalen thumb Wealthy People List–30 Under 30 Internet MillionairesSean is a very physical entrepreneur and doesn’t mind getting in there, and really getting his pulse racing. Sean developed the AlterG treadmill, which is essentially a treadmill for use in anti-gravity. Why? Well besides it being a very good idea, it is perfect for those athletes or the elderly who have injured themselves. It allows you to train using only 20 percent of your natural body weight, which allows the user to develop strength much more adequately, safely and without causing any more pain than necessary. Did I mention Sean’s dad was a NASA research scientist? That must be where he got the idea. Brilliant. 


#25 Matt Pauker – Age 24yrs   www.voltage.com

Worth an estimated $12 million

matt pauker thumb Wealthy People List–30 Under 30 Internet MillionairesMatt was Rishi Kacker’s (above) business partner and another one of the co-founders of Voltage.com. The business started in 2002 and Matt is still there at the time of writing this. Matt has been involved with the design and architecture of the business and still gets deeply involved in all the processes which come with it. The company is now used by some of the biggest named brands and businesses in the world, and it is still growing. Matt was also named as one of the top 25 young entrepreneurs by Business Week as well as having been featured in numerous other highly respected publications. 


#24 Rishi Kacker – Age 24yrs   www.voltage.com

Worth an estimated $12 million

rishi thumb Wealthy People List–30 Under 30 Internet MillionairesRishi is one of the co-founders of Voltage.com, a security based company, the nature of the business is the encryption and protection of online and offline data through the use of electronic devices. In other words they stop people stealing data and identities etc. Currently serving around 1,000 customers at the time of writing the company has gone on to very big things, and although Rishi is still part of Voltage.com it has since changed hands of ownership. Which has allowed Rishi to become very wealthy in the process. 


#23 Eric Koger – Age 26yrs   www.modcloth.com

Worth an estimated $15 million (combined)

eric koger thumb Wealthy People List–30 Under 30 Internet MillionairesEric was the design expert behind the Modcloth.com website, and also helped with the hosting side of things. Eric is still very much a part of Modcloth.com and helps with the design, working closely with other designers they employ to oversee things are how they want them to be. He also helps with the financial side of the business like budgeting and sales reports. He also takes some of the product photography from time to time. What a great pair they are. 


#22 Susan Gregg-Koger– Age 25yrs   www.modcloth.com

Worth an estimated $15 million (combined)

Susan Gregg Koger1 thumb Wealthy People List–30 Under 30 Internet MillionairesSusan Gregg-Koger is the CEO and co-founder of Modcloth.com, operating the site via her college dorm-room where she managed to process orders herself whilst keeping up with her academic classes, that’s hard work right there! Her website was designed by her then boyfriend (now her husband – below) and the site went from strength to strength and is going remarkably well even now. The site boasts over 300 designers all creating one-off unique garments for their customers, sounds great.


#21 Aodhan Cullen – Age 27yrs  www.statcounter.com

Worth an estimated $18 million

Aodhan Cullen Photo thumb Wealthy People List–30 Under 30 Internet MillionairesNo he is NOT one of the vampires out of the Twilight series of films, though I bet he was a bit of a night owl whilst starting his business empire. Aodhan Cullen is the CEO of the online company StatCounter. If you don’t already know, StatCounter is a web analysis and statistics company that was founded in 1999 when he was a mere boy aged 16yrs. The website has had huge success and in mid-2008 the members tally had grown to a whopping 2 million (globally). Good stuff Aodhan.


#20 Ryan Allis – Age 25yrs

  www.icontact.com

Worth an estimated $28 million

ryan allis thumb Wealthy People List–30 Under 30 Internet MillionairesRyan is the CEO and co-founder of the company icontact, the nature of the business is not unlike that of mailchimp. They provide marketing tools of the email variety and his efforts to further email marketing sales for himself and his clients has earned him a very nice amount of revenue. Able to boast over 50,000 clients globally, and with a best seller on the bookshelves entitled Zero to Million, Ryan is going places, fast.

 

For the rest of the Wealthy People List, head on over to Income Diary and see Michael Dunlop’s post titled Young Rich List – 30 Under 30 Internet Millionaires.  Enjoy, I know I did.

And while you are over at Income Diary spend a little time on Michael’s site…I know his core mandate is to offer tons of value and if you’re thinking about setting up a blog this is site to check out.  Michael is another young lad that will make this list one day…I hope to one day chat with him about his success.

Focused on Growing Business: Groupon turns down amazing offer.

If you had an offer to buy your company for $6 billion would you take it?  The rapidly growing business, Groupon did the unthinkable by turning down Google’s offer.

groupon Growing Business: Group plus Coupon equals GrouponStarted in 2008, Groupon has taken the world by storm.  Only 29 years old, Andrew Mason CEO of Groupon figured out how to become the fastest growing company ever. One of the keys to growing business success is solving people’s problems often the end result is sales.  In Groupon’s case they’ve satiated 2 fundamental wants or problems:

  1. creating and generating measurable advertising programs for growing businesses,
  2. reducing buying risk for consumers doing business with a particular merchant

The results for this relatively young Chicago based growing business start-up are staggering:

  • they’ve helped consumers save $846,618,797 on their purchases,
  • sold almost 20 million coupons,
  • became profitable within 7 months of operation,
  • on track to surpass $500 million in 2010,
  • boasts a valuation of over $1 billion, achieving this number faster than YouTube,
  • starting in Chicago they are now based in 100’s of cities worldwide and offer services in over 20 countries,
  • they add over 3 million subscribers every week.

How does Groupon work?

It’s quite simple make it low risk for everyone involved.  For businesses it doesn’t cost anything to list with Groupon…they get paid by selling coupons…I mean Groupons.  But the deal doesn’t come to fruition unless a certain number of customers buy the coupon.  Groupon makes money on a percentage basis of every coupon sold.  Groupon relies on it’s visitors/ subscribers to get the word out using various social media platforms like Facebook, Twitter and Blogs.

Is Groupon a good deal for a growing business?

Customers love a great deal so it’s an automatic win for them.  Businesses on the other hand must consider a multitude of other factors.  Does offering a coupon fit within it’s value proposition?  I always referred couponing as the crack cocaine of advertising…sure it gets people through the doors but at what expense?  Numerous arguments can be made for this model of marketing and advertising and I’m not suggesting that it’s good or bad.  There have been examples of Groupon Nightmares on how this tactic has had an opposite effect on growing business.

The Groupon Story a couple take-a-ways on growing business

The great thing about Groupon and Andrew Mason is that he possesses something that we all have inside us….an ideaThe difference? Follow through. What ideas do you have to follow through on your growing business?

The biggest win for Groupon?  It’s not the money…it’s the data!  Google says it’s worth $6 billion…Groupon says it’s worth more (Groupon Google Deal OFF).  For the sake of math, assuming 20 million subscribers that’s $300 per subscriber.  How much are your customer’s worth?

To read more about Andrew Mason check out Forbes article titled Meet The Fastest Growing Company Ever.

Or check out Andrew Mason’s interview with Charlie Rose.

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