On behalf of the Collegiate Entrepreneurs’ Organization (CEO), Michael Luchies and I both had the chance to talk with two up-and-coming young entrepreneurs. Jordan Williams and Brandon Iverson have created a successful financial literacy business at the age of 14!
Jordan and Brandon both exemplify what it means to be young entrepreneurs – their hard work, dedication, and passion has helped them create a successful business while in high school. Here is an abbreviated version of the interview held with these two founders.
Company: Making Money For Teens (makingmoneyforteens.org)
Twitter: @MMFTCEOS
Date Founded: July 2011
Description of Business: Making Money For Teens is a teen financial education company. MMFT teaches teens how to become financially responsible to prepare them for their future. MMFT includes a CD Series to teach Investing, Leadership, and Starting Your Own Business, and two books that teach teens about entrepreneurship.
Seed Funding: $60.00 for production expenses, invested by their parents
Jordan: Making Money For Teens teaches teenagers how to become financially responsible. It started about 1.5 years ago. Brandon and I used to go to our dads’ business meetings, help them set up and then sit in the back during the meetings. They were financial advisors and involved with network marketing. We started selling financial education CDs that they could take back to their children in the back of our dads’ meetings. It’s been nurturing and growing ever since.
CEO: Once you came up with the idea, how long did it take for you to get started?
Brandon: After the idea, it took 1 month to get launched. We developed 2 products: The Basics of Stocks and Investing and Starting Your Own Business. Once we created the products, we started a website and began selling.
Jordan: At first, all older people bought if for their children. We got a lot of feedback from older adults who wanted to change their children’s habits, but learned new things themselves.
CEO: How do you juggle your business and school?
Brandon: Learn to be disciplined with time. You have to make sacrifices, so instead of going to the movies with friends, you work on your business because you know it will pay off.
Jordan: Friends and family are really supportive. Our friends think it’s cool that we are leaders and running our own business. Our main goal to be an example to others.
CEO: What is the biggest obstacle you’ve faced as a young entrepreneur?
Jordan: Learning to manage time. As teen, we have school and extra-curricular activities, like basketball. It took a lot of discipline, but I realized if I want to be successful and have a successful business, it requires time and effort. Another obstacle is people’s doubt. But we believe in ourselves and our business.
CEO: Have you experienced any failures? If so, how did you deal with the failure and learn from it?
Jordan: Failure is good as long as you learn from it and grow from it. About a year ago went to an event in Valdosta, GA and it was a youth conference. We calculated how many people at the event and how many we thought we could sell, but we ended up selling less than 10 products. It felt like a failure. But it helped us learn for future expos and taught us lessons in marketing, that you have to go out and engage to attract people.
CEO: What is your biggest accomplishment thus far?
Brandon: Me and Jordan becoming published authors. Not many 14 year olds have published books.
Jordan: Being authors was the next thing we wanted to try in our career. I’d also have to say being invited to the Tom Joyner Family Reunion and leading a seminar with Les Brown and Omarosa.
CEO: What is the biggest advantage of being a young entrepreneur?
Jordan: Being a young entrepreneur has carved out a great niche for us. You stand out from the crowd. People will pay more attention to you and they are more interested in what you have to say.
CEO: Who is your entrepreneurial role model?
Jordan: Donald Trump because of the way he does business and how he gets income from so many ways (real estate, TV show, clothing). He has a diversified career. I strive to do that in my own career and see how I can be creative. I respect all entrepreneurs are willing to create opportunities for others.
Brandon: Donald Trump and Robert Kiyosaki. He started as a poor Hawaiian boy and became successful with a diversified entrepreneurial career path.
CEO: What are your goals for the next 3-5 years?
Jordan: Our business goals are to market and expand our business to branch it out into new states to make it a national and international business. We also have plans for a clothing line. Right now we are just brainstorming so we have a variety of opportunities to take.
Brandon: We want to grow our business into the TV industry. And add a clothing line to help the brand.
CEO: Do you have words of advice for other young entrepreneurs?
Jordan: I’d encourage them to keep studying and keep learning. Read! Keep learning and read from your role models. Start young and start now. Just try and get started to get experience on what running a business is really like.
Brandon: Stay committed and have a hard learning attitude. Be disciplined now because it will help you in the long run and you’ll be glad you did it.
CEO was fortunate to have been connected to Brandon and Jordan through a new partnership with Independent Youth. Brandon and Jordan are both speakers for Independent Youth’s Teen Entrepreneurship Symposium.
