| Vietnamese-American teen dreams of becoming online millionaire |
| 15:13' 18/02/2007 (GMT+7) |
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VietNamNet Bridge – In 3 months, Hoang Minh Thuan earned 120,000 USD from his online business ideas. The 19 year-old student is dreaming of becoming the second teenage millionaire in the world.
Getting started
At the beginning of 2006, Thuan first read about Alex Tew, the first student under 23 years of age to earn 1 million USD from a personal website. Thuan didn’t see why he couldn’t make money online like Alex. So the sophomore student with a major in computer information systems at Portland Community College in Oregon, the US, started to work in order to earn as much as 45,000 USD for his tuition fees.
For the whole week afterwards, Thuan thought of 15 different business ideas, and talked about them with others for feedback. He also picked up here and there some new ideas on the days and nights he spent on surfing the Internet.
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Of the 200 dollar initial investment, Thuan used 150 to buy the domain howtomakeonemillion.com for two years. In August 8, 2006, he inaugurated a website posting online money-making ideas for everybody to read free of charge.
"Many people access free downloading websites. YouTube is exemplary. If you give people something very interesting free, they will go to your website and download it,” Thuan said. On his website, he puts ads and links to other big websites. He earns from 20 to 30 dollars for every 1,000 visitors. Right in the first month, 1 million people accessed Thuan’s website.
While constantly throwing out new ideas, Thuan cunningly posted old ones intermittently so that visitors had to return to the site to read what they had missed. More and more people were accessing the site, and more and more money was being sent to his bank account.
Dreaming of becoming an online millionaire
More and more people learned about the website, and Thuan earned 120,000 dollar in 3 months, far surpassing his initial 45,000 dollar goal to pay for his tuition fees. In December 2006, he sold howtomakeonemillion.com for 6,000 dollars to a group of friends on the condition that they would not run this web in the same way as he did.
He designed a new site called waystomillion.com to sell his online business ideas rather than give them away free like before. "I’m aiming to hit a bigger target and become the second teenager after Alex Tew to earn 1 million dollars from the Internet," said the young man.
With 20 dollars, customers can buy ideas with “implementation guidelines”. Thuan also helps customers to choose software and websites to carry out ideas. To implement Thuan’s ideas, customers need a little computer knowledge. They can read a range of ideas and choose the most suitable one to them. "Putting links to other websites seems to be the most popular idea,” Thuan said. Many friends of his have started to make money in this way.
Thuan’s business “blood” seems to run in the family. Since she was 23, his older sister has managed one of the biggest restaurants in Portland. The young man particularly admires his sister. "My older sister is the only girl in this city that I have to bow to out of respect,” Thuan said.
He plans to create another website. He wants to work with experts on this new project which will include posting website links and selling ad space as he did before.
Thuan is also a Taekwondo student champion in Portland. Learning kung fu for many years, he has taken part in many competitions. "American students learn kung fu chiefly for fun. Few are professional. So I only need a little bit of Taekwondo to have an advantage over others,” Thuan revealed. And with a passion for computers, the young man can type at an admirable speed of 110 words/minutes.
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