Matt might only be 18 but he is already kicking ass in the business, having started his business at the age of 13, he is now the mastermind and managing director of his own international marketing company, his company Wow Media currently turnovers only about £25,000 - £30,000 a month.
I guess we really need to start taking some note on this mastermind.
Matt, Briefly give us some background information about yourself and what you do?
My name is Matt Lovett, I run an Internet marketing company. I have been running my own business since I was about 13 whilst I was still at school.
Kindly tell the YHP readers what you do?
I am the Managing Director of WOW Media an international marketing company. The company runs a massive range of different online websites and we have recently got into the mobile game industry with our new game Mafia Life.
So what is your main income stream even though its seems that you have many income stream online?
Our main income is from our affiliate network, Trienta Affiliates. Which is an affiliate network and it gives the ability for people that have their own sites or are start sites up to place our adverts on their sites and earn money from.
Seeing that online is where you make your money, what would be doing if the internet never existed?
Good question, I think maybe I would have started my own magazine or newspaper.
Matt do you have any plans to get young people to work in your company?
WOW Media and our partner company have recently started taking on apprentices and we plan to take more on in the future.
What is your business model?
We are an internet marketing company, we run a range of online websites including cashback rewards, voucher code sites and much more.
Who are target markets?
Its hard to say really we run so many different businesses in many different sectors.
Who are your competitors and how do you compete against them?
As I mentioned earlier we run a huge range of websites, so we have a lot of different competitors, our biggest competitor is most likely Quidco which are a huge cashback site, paying 100% commission to users.
How do we compete with them?
Can't reveal that yet however we have huge plans in November to compete massively with them.
Is this your first business or have started any company previously?
No this is not my first business, I had little business ventures at school, which I mention more later on and also had a cashback site with my friend before WOW Media, called GF-Cash.co.uk
Were you exposed to entrepreneurship as a child or is it something you just picked along the way?
Something I picked up along the way, I just learned everything whilst I was running my business and learned from my mistakes, I did not even take Business at school. So sometimes I had to do a lot of research into things.
How did you finance your business? What have been your most effective sources of financing over the years?
I got no bank loans, no money given to me. I started out with a few pound from pocket money which I used to sell sweets at school after about a month me and my friend had made £20 profit, we used this to start out first website 10 months later we were making over a £1,000 a month at about 14.
What are the revenues of the business?
The company currently turns over about £25,000 - £30,000 a month.
How many employees do you have?
We currently have about 6 members of staff, we are always considering recruiting more people.
How has your market changed in the past few years? How has your business changed to keep pace?
Over the years the market has changed massively and I am constantly coming up with new ideas and new business ventures to keep up with the market and to expand into new areas.
How have sales grown in the last few years?
Obviously since going into my business full time after leaving school, it has really helped the business as I have been able to spend more time on it. This year we have almost doubled the size of the company.
What are the most crucial things you have done to grow your business?
Going into new areas, growing the business is vital. We are constantly launching new sites, services, companies and even buying existing sites or companies to constantly try and grow the business.
What has been your most effective marketing tactic or technique?
Internet Marketing...However I would say that as that's what we do.
What are your advices to young entrepreneurs starting up their business?
My advice is don't give up. Try and try again. Over the years I have run loads and loads of websites, some failed, some were huge successes.
I guess it also comes down to persistence and determination, thank you matt, we wish you the very best in the future.