Jackson Ran His First Business Aged 10, Bought A House At 18, And Reveals How You Can Do It Too
Jackson Earngey says life doesn't have to be easy for you to make the most of it.
The Gold Coast entrepreneur lost his dad when he was aged only five and was raised by a single mother who worked three jobs to make ends meet.
Now aged 18, the businessman has snubbed a law degree in favour of building and selling businesses, and is worth more than one million dollars.
"I started e-commerce around eight years ago, but I only started being profitable six years ago at the start of high school -- so it took me two years to really learn it," Earngey told 10 daily.
In order to spend more time on his business ideas and less time in the classroom, in 2019 he was eligible to take three days off school a week under the banner of "work study".
"It was a cleaning business. I started it with just two staff and me, and after seven months we had about 25 staff, and after 12 months there were 35 employees," he said.
Earngey said his startup costs were $50 for cleaning products to begin with, and less than $2000 for registration and insurance. Less than a year later he sold the business for $100,000.
He also bought his first home a couple of months after graduating from high school.
With an uni admission score of OP6 (which is the same as an ATAR of 92), Earngey was headed for law school when he changed his mind and withdrew his application.
"You can go the traditional route and if you want to be a lawyer or an engineer or a doctor then that's great, but for people that are solely invested in business, you kind of don't have to follow that path," he said.
He now runs e-commerce stores on a full-time basis, setting them up, getting stock in, implementing the advertising strategy, then usually selling the store about three months later.
This includes health and beauty products, technology accessories and fashion.
I try to get across to people that you don't have to have the perfect run of luck in order to be successful in business -- for me my dad died when I was really really young, my mum worked three jobs so was barely home.
His next stop was to learn from some of the best, and now has his sights set on mentoring and teaching other young entrepreneurs.
"I have done a fair bit with high and medium level business celebrities," he said.
"There was an event at the start of the year with Jordan Belfort and Sasha Karabut."
Belfort is a former stockbroker and the author of The Wolf of Wall Street, which inspired the movie by the same name. Karabut is the Founder of PushPeak, one of Australia's fastest-growing personal development companies
"I did all the backstage filming of his [Belfort's] time and got to interact with him and network a lot," Earngey said.
Based on his experience and rubbing shoulders with who he calls "business celebs", he is now teaching others how to start businesses in Australia and the United States.
"I really want to take what I do on a stage and speak to people and be an influence," he said.
One piece of advice he routinely gives and has chosen to live by is about surrounding yourself with the right people.
"Remember in life that you will be the mean of the five people you spend the most time with in your life. This refers to you being the average of all the people you spend time with, in regards to income, intelligence, treatment of others, behaviour and future."
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