Young Millionaires: 4 Ways to Hit $1 Million By 40
Tagged in: ,

"Investing is the best way to build wealth, but it's not an overnight process."

Tap to Read Full Story

The Serial Entrepreneur

Michele Romanow, 32, San Francisco, Calif.

"I'm no stranger to rolling up my sleeves and getting to work. At 12, I was mowing lawns and changing tires to earn my allowance, which my dad taught me to save and manage like real earnings. I went on to study engineering, but soon learned I wanted to build businesses, not bridges," says Romanow.

After graduation, she and two former classmates used the $120,000 they won through business competitions to launch their first venture, a sustainable sturgeon aquaculture facility that delivered caviar to hotels and restaurants. That business went under when the recession hit, but Romanow was hardly daunted. After a stint at Sears Canada, she and the same two partners launched Buytopia, a daily deal platform that became one of the fastest growing companies in Canada, acquiring 10 competitors and signing up more than 7 million subscribers.

In 2014, she left to work at Groupon after it bought her Buytopia spinoff, a coupon app called SnapSaves, and also joined the cast of "Dragons’ Den," a Canadian version of "Shark Tank." Last year, Romanow left Groupon to become co-founder of her fifth business venture, Clearbanc, a financial services platform targeting freelancers and self-employed contractors. "I’ve always believed that you don’t need to have every certification and years of education to build a business," she says. "It’s all about taking risks and pushing forward."

Her advice for others: "Invest in yourself. I started building businesses early when I didn’t have the responsibilities of a mortgage or children and I could spend every minute making something work. Starting early and investing in myself were the best decisions I made."

[ad 1] 

<< Page 3 of 3