Billy McFarland is a unique individual because he can start new businesses and have them in success mode very quickly. Most people have heard the phrase that nine out of ten new businesses fail within the first year.
According to Business Insider, for Billy McFarland, the opposite seems to hold true. Nine out of ten of McFarland’s new business ventures succeed withing the first year. At the age of 13, he started his first business, a search company which found new customers for local businesses.
As a freshman computer tech student at Bucknell University, he started Spling, a company that is still in business with Billy McFarland as the CEO. It transforms the URL of a business into a graphic which is used to enhance the content of marketing efforts and to enhance the company brand. Current clients include Universal, Hearst, Warner, and Discovery.
The latest and the largest success story is Magnises, which was started in 2013 when McFarland was just 23. Magnisess is a platform designed for millennials who thrive on socializing and getting together for fun times and business purposes.
For the nominal annual membership fee of $250, members receive substantial discounts at many of the member’s favorite restaurants, clubs, bars, meeting places, concerts, and other preferred places. Members are issued the Magnises Card or the “Black Card” as it is commonly called. The needed data is copied onto the magnetic strip of the Black Card, and it is used to pay the bill at member businesses as well as immediately applying the discount.
McFarland’s definition of millennials is described as young entrepreneurs, professionals, managers at IT and garment industries, and anyone else in the age range of 21 through 35 who are going somewhere in their fields.
The Black Card has become a status symbol of sorts as it is the possession to have as millennials go about their business of mingling and making connections. The proof that this exercise in natural selection is working is the membership in Magnises since the end of 2015 has topped over 10,000 members.
This is in New York City and Washington D.C. only, but McFarland has bigger plans to expand nationwide and internationally.
The business model works, and there are millennials all over, and the future looks very bright.