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Young Entrepreneur Series –

September 28, 2011

Born in Poland, Matt Wegrzyn was 17 years old when was invented.  Matt started buying domain names and then selling them for a profit. He even sold some domain names for as much as six figures!

Eventually, Matt founded, a domain-name parking service. If you invest in a domain name but don’t want to create a site for it, you can park it with Bodis. It will place click-through ads on a page bearing your domain name, then split the revenues with you. In 2007, Bodis split enough ad revenues to pull in $1 million.

Matt says:

“Never give up. And it’s true. Your business doesn’t work out, keep trying. It doesn’t have to be the same type of business or niche, but keep trying until something works out for you. Honestly, everyone that I know that has failed at the beginning, but kept trying hard, has ended up a winner at the end. I mean it, a real “winner” – with money.

I bet this lesson sounds familiar to Secret Millionaires Club members Elena, Radley, and Jones! In the Secret Millionaires Club webisode called “All Fall Up“, the kids learn from Warren Buffett that:

A successful business is always trying new things – like introducing new products. But, not every new product is successful, and managers of a good business learn from failure. “Trying new things” and knowing that you will make mistakes in life is important to understand – because today’s failure can lead to tomorrow’s success. So remember to ask, “What would you do in life if you knew you could not fail? – Failing is not falling down, it is staying down.”

If you’re a teacher, you can teach your students this lesson while teaching to national common core standards in math and financial literacy.

All materials are free to educators, sign up today for our year long program.


From → Web Businesses, YES!

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