Secret Millionaire – Season 3



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Lesson 1.4b: Secret Millionaire – Season 3 – Sean Belnick, New York, NY

Directions: (Highlight key points made in this bio)

1) What inspired Sean to go into business for himself.

2) Why do you think he was successful in his venture

3) Are there similarities between you and Sean? Explain

4) Explain what you learned from this video about the characteristics of an entrepreneur and his ability to make money at such a young age. Use examples of characteristics in your response.

5) If you were to make a donation to the charity of your choice what non-profit would you donate to and why?

6) Compare yourself to Sean in the way he thinks, uses his money and provides opportunities to the organizations he donates his monies to. What habits are similar and what habits are different than yours. Be specific by using examples.

Website:

At 14, Sean Belnick took $500 and started selling office chairs online. Today, he's running a $24 million furniture company whose customers include Microsoft, Google, and the Pentagon.

 Like so many successful entrepreneurs, Sean Belnick came up with his great big idea after watching what other companies were doing wrong. The only difference is, in his case, this eureka moment happened to come at the age of 14.

While hanging around his stepfather's office at a furniture manufacturer, Belnick noticed something interesting. Retail furniture stores would call Belnick's stepdad to place an order, which was then shipped directly to the customer. Why not save customers a trip to the store -- and the headache of dealing with high-pressure furniture salesmen -- by creating an online marketplace for office chairs?

And thus, was born. Belnick, who had already cut his entrepreneurial teeth building websites and selling Pokemon cards on eBay, started his direct-shipping company using a Yahoo store account to facilitate the transport of his stepdad's furniture orders to customers. The idea required virtually no start-up cash. "That's the beauty of the direct shipping thing -- there really was no funding needed," says Belnick, now 20. "I basically took $500 in advertising, and it snowballed from there."

Originally, Belnick launched the company from his bedroom with an inventory of 50 to 100 products. Six years later, has 75 employees and sells more than 25,000 products from some 200 manufacturers. That $500 investment turned into $24 million in revenue last year. The company has expanded beyond the direct-shipping model to stocking many of the products it sells in a newly opened 327,000-square-foot warehouse in Canton, Ga. In addition to office furniture, the site now offers home furniture, school furniture, and medical equipment. Most items sell below list and are shipped for free -- made possible, in part, because the company doesn't have to operate brick-and-mortar stores.

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In the TV series they follow some of America's wealthiest people for one week as they leave behind their lavish lifestyles, sprawling mansions and luxury jets, conceal their true identities, and go to live and volunteer in some of the most impoverished and dangerous communities in America.

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