How To Become A Self-Made Millionaire By 25

Nowadays, it can feel like every good business opportunity has already been snapped up. Everyone is looking for a side hustle to accompany their full-time jobs because we’re struggling to survive and thrive in a society that just doesn’t fit within our pay bracket. With all the needs and wants in this world, there is too much risk in putting our all into a dream and vision that may not work out but to make something successful, you have to be passionate to dive right in.

These young, self-made millionaires started from drowning in thousands of dollars in debt to selling items on eBay but they all had one vision - to make something for themselves, become filthy rich and come up with a service or product that consumers froth over. They’ve put their heart, soul and many tears into their businesses and they’ve well-deservedly paid off - so let’s suss out their journeys and how you can start yours:

1. Jane Lu

It goes without saying that Australian entrepreneur Jane Lu has changed the online retail sphere with Showpo but her journey wasn’t very smooth sailing. From being the only child to Chinese migrants, throwing away a job at Ernst & Young (EY) and a cadetship with KPMG in her early 20’s, Jane had a lot of drive and passion to make an entrepreneur's role for herself. 

@thelazyceo Don’t worry about what you don’t have 💪 #entrepreneur #ceo #businessowner #girlboss #questions ♬ The Magic Bomb (Questions I Get Asked) [Extended Mix] - Hoàng Read

Queen energy, am I right?

Since starting the brand, Showpo now generates around $30 million in sales each year, partners with massive influencers and brands and is the go-to retailer for weekend outfits (I have to say, I’ve picked up a few goodies myself over the years).

2. David Fogarty

You might not know the name but as soon as I mention an ‘Oodie’ - you will know exactly what I’m talking about. David (Davie) Fogarty is the founder of The Oodie, Pupnaps and Calming Blankets - this dude is all about comfort. From flogging iPhone cases, headphones and pencils on eBay, launching a Vietnamese roll shop to now championing a winter necessity, David has been kicked down a few times before his success.

@daviefogarty

I think I made the right decision.

♬ original sound - I ❤️ Mike Evans

His group of brands is on its way to turn over $200 million this year and with no surprise. I think I’ve only washed my Oodie once since getting it for Christmas last year. No regrets. I’m warm AF.

3. Melanie Perkins

Melanie is one of Australia’s richest women as the co-founder and CEO for the graphic design platform, Canva. From being rejected by over 100 investors in Perth to now being valued at USD $40 billion, Melanie saw a gap in the market where students had difficulties in learning massive design programs, such as Photoshop.

@zapidhire

The CEO of Canva, Melanie Perkins 💪 If you’re tired of having your resume rejected, check out the Zapid Hire app! 🇦🇺

♬ Arcade - Instrumental - Duncan Laurence

What’s even more refreshing is that Melanie and her husband donate a large chunk of profits to charities and philanthropic causes. She has come a long way + kudos for providing me with a platform to create my 21st birthday invitations! You’re a real one, Melanie.

4. Tim Fung and Jonathan Lui

These two blokes found that busy people are willing to pay someone to run their errands, move furniture for them or do just about anything - that’s where Airtasker was born. Teaming up as UNSW alumni graduates to working on the concept of Airtasker on Tim’s living room floor, has amassed two million users and is now valued at $255 million. It’s easy, it connects people and gives working Aussie’s a chance to pick up a job here and there.

@thesachinandadamshow Tim Fung, founder of $400m company Airtasker 🚀 #entrepreneur #startup #fyp #foryou #tech #australia ♬ original sound - The Sachin and Adam Show

They had the drive, ambition and passion to make their start-up work and it definitely clicked.

If you think you’ve found a gap in the market, a business opportunity or venture - it is quite common to fall down seven times and get up eight. As long as you’ve got the drive, passion and optimistic outlook, you could make a name for yourself in those flashing lights by your mid-20’s! DM us know what your passions are.

For some money saving and investment tips, suss out FinLit to learn about the world of finance that was never taught at school!