Asking College Millionaires How They Make Money

Introduction

Good old money—everybody wants it, everybody needs it, and once you get to college, literally nobody has it. We live in an era where teenagers make thousands a week, some people get rich overnight, and college dropout rates are higher than ever. But despite seeing hundreds of kids go out and chase their dreams, there are still millions of college students like you and I, sitting in classrooms, conflicted on what to do and simply wondering, "Why can't that be me?" What if I told you, you could do both?

Even though the channel hasn't been making life-changing money in the past few months, it's given me the opportunity to meet a bunch of people who do. I spent the past few weeks traveling the country to meet some of the most successful college students I know, who are bringing in hundreds of thousands of dollars while still going to class and doing the same things every other college student does. Instead of bombarding you with constant facts and retention-holding tricks to keep you engaged, I want to share advice that changed my life in the most genuine way possible. So, if you're ready to make that leap, let's do it.

College Millionaires: Their Stories and Strategies

Matthew Arnold Macy Myoko and Duo Davies

• Business: Amazon Arbitrage, wholesale (FBA program), real estate
• Success Metric: $ 18.6 million in revenue over the last 3 years, with $ 4 million in commissions.
• College Contribution: 0% in terms of academic learning but benefited 10% in people skills.
• Advice: Use a Google Calendar for time management and enjoy the little moments.
• Best Advice: Don't let your ego get in the way of success.

Hayden

• Business: CEO and founder of Growth and Progress Realty, custom engagement rings.
• Success Metric: High six-figures in revenue in the last 12 months.
• College Contribution: Minimal in classes but significant in networking.
• Advice: Use Rate My Professor and prioritize your calendar.
• Best Advice: Just do it, even if it's hard and complicated.

Madison Howard Rose and Ashton

• Business: MC, a two-sided marketplace for Greek life event planners.
• Success Metric: Shown significant output through research and development, although not yet profitable.
• College Contribution: 100%, especially from the Jim Moran College of Entrepreneurship.
• Advice: Delegation and scheduling are key.
• Best Advice: Fake it till you make it.

Cam

• Business: Pokemon trading.
• Success Metric: Approximately $ 880,000 in sales, reinforcing the need to stay rooted.
• Advice: Plan and work ahead, delegate tasks, and manage time effectively.
• Best Advice: Stay rooted and follow your dreams persistently.

Miscellaneous Entrepreneurs

• Business: Various other fields like Amazon sales, realty, Pokemon trading, and a Greek life event platform.
• Success Metric: Various scales from tens of thousands to over a million.
• College Contribution: Varies greatly among participants; for some, it's essential, for others, it's negligible.
• Advice: Time management, decision making, and living life to the fullest.
• Best Advice: Confidence, persistence, and reflecting through journaling.

Controversial Discussion: Is College Worth It?

While the participants come from diverse backgrounds and businesses, their views on the necessity of a college education vary widely. Some believe that college is indispensable for networking and developing essential skills, while others argue that it is unnecessary for their success.

For example:

• Matthew: Believes college helped minimally in people skills but not in academic terms.
• Hayden: Felt that college wasn't necessary but acknowledged the value of certain classes and professors.
• Madison and Ashton: Assert that their business wouldn't exist without the structured mentorship and support offered by their college.
• Cam: Posits that a college degree provides a fallback plan and essential discipline.

Keywords

• College Education
• Entrepreneurship
• Business Success
• Time Management
• Networking
• Determination
• Delegation
• Personal Development

FAQ

What types of businesses are these college students running?

• They range from Amazon Arbitrage, real estate, Pokemon trading, custom engagement rings, to a two-sided marketplace for Greek life event planners.

How do these students manage both school and their businesses?

• Time management through tools like Google Calendar, delegation, planning ahead, and effective scheduling.

How influential was college in their success?

• Opinions vary; some credit college for networking and structured learning, while others believe their success was independent of their academic experience.

What advice do they offer to aspiring student entrepreneurs?

• Overcome ego, take decisive actions even when difficult, stay rooted, schedule tasks effectively, and delegate responsibilities wisely.

Is college necessary to be a successful entrepreneur in 2024?

• Views are mixed. Some argue it's not essential, while others see it as beneficial for networking and mentorship.