Young Money is NOT suggesting that anyone join Success University. In fact, we have heard that Success University is nothing more than a pyramid scheme. For more information on this please read: Success University: Fraud or Fortune?
In 1998 Matt Morris was homeless, living in the backseat of his car. Over the next three years, by the age of 24, Matt transformed his life from being homeless and $30,000 in debt to earning a six-figure income, being his own boss and traveling around the world as an entrepreneur. Just a few years later, he had started several successful companies generating millions of dollars in revenue, allowing him to become a self-made millionaire before the age of 30.
Young Money emailed with Matt Morris from Success University.
YOUNG MONEY: What is Success University?
MM: SUCCESS UNIVERSITY is one of the largest personal development companies in the world giving students access to the top minds in the field of raising human potential. In the past 4 years, Success University has enrolled almost 100,000 students in 180 countries around the world. Students have access to over 150 speakers, trainers and authors on topics such as health & fitness, marketing, sales, communication skills, parenting, relationships, finance and much more. Students receive a Monthly Empowerment Series mailed to their door each month which includes 3 CD’s and 1 DVD. Students also have access to their own personalized online learning center with access to hundreds of hours of training. Inside this personalized learning center, which tracks your progress and allows you to download certificates of achievement upon the successful completion of courses, students have access to a Reading Library, where lessons can be printed, and an audio and video library where courses can be downloaded to your iPod or even burned to a CD or DVD.
YM: What make Success University special?
MM: For less than a cup of coffee a day, students can gain access to thousands of dollars in success education that can make a dramatic shift in their levels of success. Not only can students have access to the top minds in the world on success, they can do so from the comfort of their own home, almost anywhere in the world where they have a connection to the internet.
YM: How did you get the funding to start it?
MM: I self funded Success University through the revenue I generated from my previous companies. I generated $3.2 million dollar in 27 months through four companies previous to Success University that were all personally funded (a lot of boot-strapping).
YM: How did you start it?
MM: I wrote the business plan first, then began working on the technology which took about nine months, then began calling speakers to license content to me, which was the most difficult part of the equation. After about a year in development, I launched the company online through several marketing partners I had worked with in the years previous. We generated $1 million in our first year, over $4 million in our 2nd year, over 6 million in our 3rd year, and this year expect to generate over $10 million.
YM: What advice do you have for young entrepreneurs?
MM: Don’t try to re-invent the wheel. Many young entrepreneurs believe they have to come up with a product or service that has never been done before. My philosophy is that if it’s never been done before, there’s probably a reason for that. I’ve lived by the statement “Why invent the average when you can model genius.” I’ve started five companies that have all generated over a million dollars each, with the last one, Success University at approximately $20 million. None of those products or services were something that no one had ever invented before. I took solid products that other companies had sold before and figured out a way to market and position them in a way that made them more unique than my competition had ever done.
Secondarily, study those who have been where you want to go and don’t be afraid to ask for a mentor. The quickest path to success is by learning from the failures of others. Only fools learn only by experience alone, the geniuses learn from the experience of others.
YM: What else do you want my readers to know?
MM: We have a partnership with Feed the Children where each student enrollment allows us to donate enough money to feed and educate a child for a week. Over the past 3+ years, we’ve been able to make a massive impact by simply sharing a portion of our revenues with a charitable organization. You’ll find when you earn the money you’ve always wanted that that money is not as important as you thought. Find a way early on in your entrepreneurial career to give back, even if it’s in a small way. When your business is tied to doing something great, it makes going through the challenges a lot more bearable. I also believe that true fulfillment will not come from your success but from the difference you make in the lives of others.
Warning: This may be a scam. Please read our blog Success University: Fraud or Fortune?