Guided Tour
 View Your Account
 Shop for Stocks
 Research Stocks
 Educate Yourself
 Family Investing
 Retirement Focus
 Resource Center
 Our Strategy
 About Us
 Helpdesk
 Home
Google Custom Search
 


What Did You Do When You Were a Teen?  
Linda Goin
  
Archives

I'll bet my alien lamp that you didn't make a million dollars when you were a teenager, starting with the sales of your sister's beanie babies over the Internet. And, I can almost guarantee that someone didn't write a book about you, or that you were a Keynote Speaker with Michael Dell at the Youth International Technology Summit in Austin, Texas. The only person I know who accomplished all this and more is Cameron Johnson, the son of a car dealer in Roanoke, Virginia.

I first learned about this 'kid' from his book, You Call the Shots, where Johnson offers advice on how to become a successful entrepreneur. I guess I'm not reading enough, as Cameron, now aged 22, has been featured in over two hundred newspapers, magazines, and television stations worldwide. He even has his own Website, where you can read about his life, take a gander at his companies, and look at his photos to determine whether he's marriage fodder for your daughter or not (Cora wasn't interested, as she intends to become independently wealthy - probably through my demise).

If you glance through Cameron's many businesses, you'll realize that - except for his recent stint at his father's car dealership - the majority of his businesses were Internet based. Additionally, most of his businesses lasted about one year under his reign and sometimes he ran more than one business per year. Although some of the businesses he created are still operating, he maintains control over three businesses (more like business tools) as he works as an outside consultant to that car dealership in Roanoke.

Johnson is an anomaly, and he knows it. But, he feels that anyone can accomplish what he's done with the right attitude. I don't think anyone's told him yet that those achievements can only be accomplished with the energy that comes with youth. With that said, Cameron does understand that "starting out so young" gave him a "certain courage that comes with blissful ignorance. I [Cameron] had the confidence that comes with not knowing any better."

Cameron dispenses some wise advice in his book, but someone needs to tell him that some fifty-year-old CEOs act with a confidence buoyed by ignorant bliss. One can only hope that people in charge would grow up eventually, and Cameron shows this maturity throughout his book. Plus, as he ages, he shows a fondness for investing and for the wisdom engendered by Gandhi. Toward the end of his book, Johnson states:

"A successful businessperson isn't necessarily the one who has the most money. It's about being happy; it's about enjoying what you do and being generous. True prosperity isn't something you take from the world: it's something you share with the world."

This attitude of sharing is what generates the energy behind his current business, Jobs for Virginia Graduates. His other two businesses, Easy Followups and BoostCSI.com, helps businesses stay in touch with their customers. While this type of business seems less about selflessness and more about profits, the ability for salespeople to stay in touch with clients helps to generate the "service" in the service industry.

Growing a business is essential for that business to survive. Since Cameron is a business (some might say he's a 'brand'), he invests in the stock market. In fact, he began to invest when his parents gave him two shares each of stock in three companies. This gift of stock spurred Cameron to learning all he could about the stock market. After a few months, however, he decided that the stock gifts were "too boring." These stocks represented blue chip companies with low risk and - therefore - slow growth.

Cameron decided to sell those stocks and follow Warren Buffet's advice to invest in what you know. You'll have to read the book to discover the stock he chose, but you can probably guess that it had something to do with computers and the Internet. Through this experience, he learned that it was better to trade online, as he could save money through brokerage fee reductions online vs. outside broker fees.

Like Donald Trump (who is one of Johnson's heroes), Cameron believes that there's a fine line between investing and gambling. To avoid falling over the line into gambling, Johnson carefully weighs risk against return, and "as a rule invested in companies with solid track records I could count on." Finally, Johnson believes that the ability to make your own trades and "knowing how to intelligently pick those companies you're willing to invest in are essential skills for any entrepreneur."

That's sage advice for anyone, even if that person isn't an entrepreneur. And, as a parent, you'll fall in love with his advice to teens, where he states that retirement accounts are the best place for a teen to put his or her money. But, from my experience, you can't expect your teen to read Johnson's book. Especially if that teen is more concerned about being happy on his or her terms than about making money?

Until Next Week,
Linda Goin

 


The BUYandHOLD website contains links to third-party websites on the Internet. BUYandHOLD provides these links to these websites only as a convenience to users of the website. Links on the BUYandHOLD website are not endorsements by BUYandHOLD or Freedom Investments, implied or express, of the linked sites or any products, services or links in such sites; and no information in such sites has been endorsed or approved by BUYandHOLD. Linked sites are not under the control of BUYandHOLD or Freedom Investments, and we are not responsible for the contents of any linked site or any link contained in a linked site. No information contained in the BUYandHOLD website or accessed through any linked site, or any link contained in a linked site, constitutes a recommendation by BUYandHOLD or Freedom Investments to buy, sell or hold any security, financial product or instrument. Information accessed through linked sites is not, nor should be construed as, an offer or a solicitation of an offer, to buy or sell securities by BUYandHOLD or Freedom Investments. BUYandHOLD does not offer or provide any investment advice or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy, and any investment decisions you make will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Copyright © 1999 – 2010 Freedom Investments. All Rights Reserved.
Freedom Investments, Inc. Member FINRA/SIPC
Privacy & Security