Success Tips

Jack Bloomfield, teenage millionaire, reveals his top six tips on starting a business – Daily Mail

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Self-made teenage millionaire, 17, reveals his six tips for starting a successful ‘side hustle’ – and declares that there is no excuse for failure because the internet has made entrepreneurship EASY

  • Jack Bloomfield, 17, launched his parent company BloomVentures in 2017 
  • The teenager revealed his top six tips on how to grow your side hustle 
  • He has raked in more than $1million after launching five online stores

A 17-year-old self-made millionaire has revealed his tips on how to start a successful ‘side hustle’.

Jack Bloomfield, from Brisbane, launched his parent company BloomVentures in 2017 and now runs a variety of eCommerce stores that sell everything from skincare products to novelty items.

Mr Bloomfield said there is no reason or excuse for people not to start their own business as the ‘internet has made it so easy’.

Jack Bloomfield (pictured), from Brisbane, launched his parent company BloomVentures in 2017 and he now runs a variety of eCommerce stores that sell everything from skincare products to novelty items

Jack Bloomfield (pictured), from Brisbane, launched his parent company BloomVentures in 2017 and he now runs a variety of eCommerce stores that sell everything from skincare products to novelty items

In an article he wrote for LinkedIn the teenager revealed his six steps to success.

Mr Bloomfield said if you go into a start up with the mindset of just wanting to make money then you are doomed to fail as it ‘won’t be easy’.

‘There will be challenges and obstacles you face along the way, and you’ll usually be facing them after a long day at school or work, or late at night once the kids have gone to bed, and if you don’t have passion driving you, it will all seem too hard,’ he said.

However, despite his tip of passion over profit he said it pays to be unrealistic about your business.

Mr Bloomfield said too often people keep their goals and targets low and celebrate ‘mediocre’ milestones.

He said instead of aiming to grow your business by two per cent you should aim for 20 per cent. 

Mr Bloomfield said there is no reason or excuse for people not to start their own business as the 'internet has made it so easy'. Pictured with Mark Bouris

Mr Bloomfield said there is no reason or excuse for people not to start their own business as the 'internet has made it so easy'. Pictured with Mark Bouris

Mr Bloomfield said there is no reason or excuse for people not to start their own business as the ‘internet has made it so easy’. Pictured with Mark Bouris

Another tip from Mr Bloomfield is to know what you’re getting in for and be honest about the work you will need to put in. 

He said the goal should be to develop it into a full-time business. 

‘Not everyone gets a kick out of working weekends and late nights, so you need to know what drives you, what keeps you motivated, because when times get tough – and they will – that’s what will keep you moving forward,’ he said. 

Mr Bloomfield said it is always important to listen to your customer as not every idea is the best idea.

In an article he wrote for LinkedIn the teenager revealed his six steps to success. His first tip was that if you go in with the mindset of just wanting to make money then you are doomed to fail as it 'won't be easy'

In an article he wrote for LinkedIn the teenager revealed his six steps to success. His first tip was that if you go in with the mindset of just wanting to make money then you are doomed to fail as it 'won't be easy'

In an article he wrote for LinkedIn the teenager revealed his six steps to success. His first tip was that if you go in with the mindset of just wanting to make money then you are doomed to fail as it ‘won’t be easy’

JACK BLOOMFIELD’S SIX TIPS  

1) Passion trumps profit

If you are doing just for the money, the business will fail – Mr Bloomfield says.

2) Have unrealistic goals 

Mr Bloomfield said too often people keep their goals and targets low and celebrate ‘mediocre’ milestones.

3) Be honest about the work

He said the goal should be about making it a full-time business and people should be realistic about what it entails.

4) Not every idea will be your best

He said he likes to get his ideas on the market within 14 days as the only way to know if an idea is good or not is to see how it sells.

5) Plan every step 

He said he started four or five businesses before his took off – and now he knows he needs to have every step in his mind to get to the end point.

6) Take your business seriously 

His final tip was to take the side hustle seriously as you are the CEO and you are in charge.  

He said he likes to get his ideas on the market within 14 days as the only way to know if an idea is good or not is to see how it sells. 

The teenager said the first or second side hustle you launch may fail, but that shouldn’t put you off.

He said he started four or five businesses before his took off – and now he knows he needs to have every step in his mind to get to the end point.

His final tip was to take the side hustle seriously as you are the CEO and you are in charge. 

‘I launched one of my first businesses when I was 12 years old. The idea that a kid at 12 can be a CEO? A business owner? How cool is that? That’s what the internet unlocks for everyone. Anyone can be a CEO, be their own boss, and be in charge of their own destiny,’ he said.

His final tip was to take the side hustle seriously as you are the CEO and you are in charge. Pictured with former Prime Minister Malcolm Turnbull

His final tip was to take the side hustle seriously as you are the CEO and you are in charge. Pictured with former Prime Minister Malcolm Turnbull

His final tip was to take the side hustle seriously as you are the CEO and you are in charge. Pictured with former Prime Minister Malcolm Turnbull

How Jack Bloomfield makes his money 

At aged 12, he designed the website ‘Next Gifts’ that enabled users to design cards online before sending them in the post.

In 2017, he started parent company BloomVentures, which run a variety of eCommerce stores that sell everything from skincare products to novelty items. 

He also buys trending items in bulk, from bow ties in China to iPhone cases from South Korea, before selling them on his online stores.

In 2017, the school student started his parent company BloomVentures, which run a variety of eCommerce stores that sell everything from skincare products to novelty items. 

He has raked in more than $1million after launching five online stores – without the help of his parents.

The Brisbane student began his entrepreneurial ways aged 12, designing the website ‘Next Gifts’ that enabled users to design cards online before sending them in the post.  

He also buys trending items in bulk, from bow ties in China to iPhone cases from South Korea, before selling them on his online stores.  

His ventures see him add an incredible $2,900-a-day to his bank account.  

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