My good friend Tyler Dikman has done it again. After his first appearance on The Big Idea, Donny was so impressed by the young millionaire that he invited him on the show again to share some secrets to success and how to make millions fast.
In the following video, Tyler gives Donny his rules of business that lead him to owing a million dollar company at the age of 17. Tyler’s ideas not only worked for his business but it’ll work for any business, including an Internet one.
Congrats goes out to Tyler for making it on The Big Idea twice. He did really well, even though Donny kinda owned him at the end. It’s still all good.
Did you enjoy this post? Get John Chow Dot Com updates via email...
Stay up to date with all of John Chow’s tips for making money online and blog posts by subscribing via email. Your email will be kept private and never shared with anyone.
One of the most common complaint (or excuse) I hear from potential new bloggers is they don’t know how to install WordPress. Terms like FTP and CPanel are like a foreign language and setting up a database might as well be setting up the space shuttle for a launch. Because of the technology barrier, many would-be bloggers never start their blogs...
{ 62 comments }
Tyler is an extremely impressive and successful kid. I’m jealous.
When I first saw the name “tyler” I thought the article was talking about tyler cruz lol.
That’s what I thought too!
Tyler is really amazing guy…. Entrepreneur in true sense… !! At the age of 15, guys can’t think to leave their bed early in the morning… and this guy was running that time
I hate to say this, but at 15, I hadn’t even had a real job yet…I was too lazy!!!
I like the fact that a kid can make twenty bucks an hour running a lemonade stand.
That makes me want to quit my freaking job.
unbelievable i caught that too i was making 65 cents for every cup sold which wasn’t a lot of money an hour
Nice. He did get owned though, but I think thats more or less a result of being put on the spot. His point was basically that everyone has ideas but few people ever act on them.
Of the millions that will see an episode of The Big Idea, a small fraction will ever actually put something into motion… and an even smaller fraction will see that something to completion.
I think Donny is right to say you need both and idea and execution, but I agree more with Tyler that the execution is more important. You could have the best idea, but if you can’t work at it and make it happen, it’s worthless.
I don’t think he owned him at all. This kid is genius…
I was still thinking about girls at that age
i do agree that he didn’t get to him but that’s how i see it others may not
social bookmarking demon’s last blog post: Review Of The Email Messenger “Mostly Known” As AWEBER
Great PR for him and his companies though. Thats the real value of this Success breeds Success and he will get client just because they want to be involved with him.
Wow! Tyler is brilliant and smart. So is John Chow
I hope to be brilliant someday too. Still got allot of learning
to do. Great post John. Thanks for sharing
~Katie
one day at a time.. that’s all you can do
I agree…an overall plan and a goal is important…but don’t get caught up in the final goal, take things one day at a time…
that’s the best way to earning a full time income online
I used to purchase my lemonade exclusively from Tyler.
Wow, impressive for a 23 yr old. I turn 23 this year and I sure has heck don’t have a million bucks to my name. Good job to him. I wonder what the family story is, how much support he got, motivation etc.
A lot. I’ve met Tyler’s parents a few time. They provided an extremely positive family environment when Tyler was growing up.
Hmm… You have some really good friends John.
I thought that was the case. He’s got great confidence and work ethic. He’s definitely set the bar very high.
Good parental support is critical…it can make all the difference.
Yourit ensures success when you live in a stable environment as opposed to a hostile one
Family support (or of your closest, call them friends, gf etc) is very important when you are launching yourself in business. The guy really is wise and his speaking is confident and secure and his advices were standing in the ground for real.
Working on a smaller client base (unless you have the man power) gives you that freedom to work with each client more closely and even gives you the time to have that free chat some times. Don’t over promise but over deliver is yet another brilliant advice, surprise your clients and they will not only get back to you but they will also refer you to others.
Listen and learn
John, will you be my mentor?
Tyler is a man with the idea, $20 per hour by selling lemonade..at the age of 17 started company.. he`s doing pretty good.. people at his age are probably still living with their parents and working in local coffee shop, but he`s making millions..
If this guy impresses you, read about Farrah Gray, and read his book – Reallionaire: Nine Steps to Becoming Rich from the Inside Out. Quite inspiring.
They just don’t make kids today like they used to.
Great article, it proves that in business, age doesn’t matter. The only things that matter are your brain and hard-work.
Wow, awesome guy. Kudos to his parents as well.
The guy is very switched on and confident in what he is doing. Nice to see such a cool positive story.
I especially liked his last comment!!! Execution is key. I’ve written about this a number of times before: Ideas are a dime a dozen
I also liked when he said, under promise and over deliver.
He got that from Harvey Mackay – “Deliver more than you promise”
You meant “owning” right? I’d feel sorry for the kid if he already owed some company a million dollars at 17.
Good info, though. Thanks for sharing!
He really put some good points. Wow! He was looking damn confident.
Yeah…definitely very confident for his age. Fairly well spoken as well.
its all about how fast you can execute on your ideas before someone else does…thats it….plain and simple, execution…just do it!
Wow! This really inspires me. Although I have seen a bunch of those steps before, I was introduced to some new ones.
–
I think he forgot one more good advice WORK HARD. One of the things you didn’t know about tyler is that he works 15 hour days he’s a workaholic and if you work like that on your Idea you can make it to. Even if you have a job when you get home start doing your business and put in the time.
Well if he works 15 hours a day than I want to work 7 and earn a 1.5 m a year. Just kidding, really. Work Hard …yes it’s a point but the main idea is to be EFFICIENT, don’t just work hard, because with only hard work you might fail to become somebody, to earn some big bucks.
What an inspiration!
-Mike
wow I love seeing stuff like this.
Man… it’s inspirational stuff, that is. Makes me wish I had more goals and desire to work hard at that young age.
Nice video, but I would have preferred a lot more detail. Too many successful entrepreneurs don’t really give anything away at all and just give broad ideas that most people don’t stand a hope of executing. However, I did take the underpromise point on board, very useful.
Doesn’t it always seem like all the great ideas in the world were taken and people made millions? I mean, I don’t think they are, but it sure seems like it every time you hear about something like this.
Most excellent find. Thank you for sharing the video.
“Under promise and over deliver” — ingenious.
Great inspiration.
Wow, that was inspirational!
The ones I’ve learnt from all his advices and the ones that I agree with are:
1) Underpromise and over deliver: nothing better than wowing someone than disappointing them.
2) Ideas dont make money, execution does: from my dad who has great idea to tell everybody but never execute it.
I watch the Big Idea just about every night of the week and even YouTube a lot of shows. It is great clips like that John that really do inspire others. Thanks.
Rob West
creativity is very important…
Fantastic, that was a great motivator. Cheers for sharing this John.
The kid got his American Express Centurion card by using it to purchase everything for his business… everyone does that.. I have one for my business. It’s not exactly a huge deal.
The kid is barely a millionaire John… please
I wish I had this kid’s smarts at that age… or now for that matter
i wish i knew all this just 3 years ago boy would i be happy
I still have much to learn, thx for the post john!
Tyler is an extremely impressive and successful kid. I am sure he didn’t share all his secrets in that interview, but that is normal. No millionaire will share all his secrets to publicity.
I love the spirit he has. Reminds me of when I was young, I used to sell cookies and brownies (I made myself) just off the pearl st. mall in Boulder, CO. I would net about $200/day on the weekends, but was eventually forced out of business by the zoning board for not be licensed to vend in the street (I set up my stand in front of a family friend’s store)… Being only 14 at the time, it really killed my entrepreneurial spirit (wish I would of just applied for the permit), something I’m working on getting back these days…
Thanks for the inspiration John Chow!
Thanks, I really enjoyed this! It’s encouraging to everyone, both young and old.
He looks very easy going and friendly. He doesn’t seem to have the quality of “I am better than you”. I cannot explain well but he is a kind of a person who can make others happy just by talking to them. Thanks for sharing the video.
Hmm well millionaire can mean a number of things, does he have $1mn in the bank in cash reserves, or is it in some big house he bought and owes a mortgage on + his car? Did his parents help in funding whatever he did or did he write a fantastic business plan and palo alto came calling?
i don’t really know what he did, but whatever he did was surprising. I mean a guy makin 20$ / hour from lemonade stand … that got to be something… I am sure he didn’t invest his money into the lemons at the age 5… but the parent’s influence helped him.