I just read an article about a guy who sold his first company, when he was 21 years old, for “six figures.” And he decided to drop out of college so he could be the entrepreneur he wanted to be.
The 21 year old “six figures” college dropout was Kevin Kim.
And he said his mom even cried a little bit when he told her about his plan to drop out of college. She thought he was making a mistake and taking a huge risk.
But Kevin had built his six figure company from scratch with starting capital of only $2000. I was impressed to find out he saved that much from doing part time jobs. He didn’t borrow it from mom and dad or some bank or friend.
It might interest you to know that Kevin’s family left South Korea and moved to Canada when he was 11. So, it wasn’t like he had some sort of special financial advantages. But he did have something that I’ve found to be common with successful entrepreneurs and business people. Persistence.
For about 10 years, Kevin built digital products for startups and other entrepreneurs. But in 2020, he decided to pursue his own vision. I’m not a big sports enthusiast. So, I had never heard of Stadium Live. But that’s the company he started, and it’s now a “metaverse app for sports fans.”
Apparently you can create your own avatar, play mini games, enjoy interactive sports livestreams, and even buy digital collectible inside the Stadium Live app. And I guess fans must love it. Because the company is now valued at around $32 million. And it even has investing from an NBA star, a World Cup champion, and other venture capitalists.
Kevin shared 3 tips for running a successful company:
- Founder-market fit – when the founder can be passionate about what he’s doing
- Product-market fit – make sure there’s an audience for what you’re passionate about
- Company culture – it’s critical to “set a strong vision and set of values” for the team
Wow. It almost sounds like Kevin read my book or blog posts. Because I’ve been sharing the message of vision, mission, and values for a long, long time. And it’s been a key part of how I’ve helped lots of entrepreneurs turn their passions into six figures, and even seven figures, businesses.
And Kevin is a great example of why I’ve been talking about how college isn’t necessary for everybody. In fact, for some, it can be a stumbling block to creativity and passion.
Maybe you’re like Kevin. And maybe you’d like to pursue your passion. But you’ve got so many ideas swirling around in your head you don’t know where (or how) to start. What do you do? How do you focus those ideas into products and services? And those products and services into a business that can meet your needs in life.
If that sounds familiar, I’d love to talk to you. Because I think I can help. But I’d like to know more about your great ideas. And, together, we might get you started in the direction Kevin Kim took his ideas. Check my handy-dandy calendar, below, and book a free call with me.
Don’t put off your dreams. Success requires action. Stick figures don’t earn six figures. Let’s talk soon.
Stay Ready,
Ronda