Most people have a job because they have to make money to make ends meet. They endure working 40 hours plus a week. Commuting to work with millions of other people doing exactly the same. What they crave is to have enough money so they can enjoy the freedom of time.
Today’s teenage entrepreneurs are leading the way with how to build wealth and create freedom of time.
Table of Contents
New Era, New Ideas
As a kid, I grew up in the era of going to school, and getting a job for life with the reward of doing the things I wanted in retirement.
Sadly, according to a Harvard study, only 68% of people ever get to retirement age. Insurance statistics show that very few people live for longer than 10 years after retirement. If they live longer, very few have the money to enjoy it or the health..
Over 80% need a retirement job to supplement their pensions and be able to survive financially.
Only 1% of people have enough money to enjoy their retirement.
I study wealthy people. I have since I was a teenager. Yet, what I find really interesting today, is that the internet has opened up a whole new era for teenagers who are building wealth and building it quickly.
These young entrepreneurs are often millionaires by the time they reach 18 – 20 years of age. By their mid-twenties, they are building luxurious homes and paying cash for them.
The internet and social media are offering them a platform to share their message and they have learned to share it well.
Same Old System
Today’s teenage millionaires are using the same old system for building wealth.
Creating online businesses then, investing their profits into shares, property and bullion. It’s just the business tools have evolved.
Most young entrepreneurs have grown up with social media. They are able to tap into Facebook, Instagram, TikTok, Youtube, etc, and monetize the platforms.
They have access to many online influencers, who for a fee, are willing to promote their products and services to a much wider audience. In turn, this helps to launch a business quickly.
Gone are the months and months of expensive preparation to start a new business. Social Media has provided a platform to have a business idea returning income within hours.
Some online businesses are generating $5k a month within weeks of starting.
A New Business Model
When I started my first business their were many skills needed to build the business not least people management.
If you wanted a good business, generating a good profit then you needed a team of people working for the business. Employees who could deliver the products or services. Supervisors, managers, accountants and many more.
Generally, the bigger the team the more successful the business could become.
Today’s entrepreneurs are often sole traders. Online tools and platforms take just minutes to generate the results that huge teams used to create.
Gone are all the staff overhead costs replaced with quick, efficient online tools. How quickly can you create a graphic online using tools such as canva? It takes minutes instead of waiting for a designer to make the graphics.
This new business model, lowers costs and speeds up getting the product or service online, generating sales even quicker.
Freedom of Time
Today’s entrepreneurs have learned how to build multiple online businesses, generating quick and substantial profits but more importantly, they have mastered creating freedom of time.
Once they have their business online it operates on automatic. Leaving entrepreneurs time to do whatever they choose.
Some build more businesses.
Many enjoy their freedom of time and wealth benefits while they are still young enough to do so.