In the real world, success is measured by results. You either produce or you don’t. Billy McFarland has been producing since he was in his teens, as he started his first business when he was only 13 years old. This was a home business where he successfully found customers for a local business.
As a college freshman, he began a business that rearranged company URLs into a graphic which helped a business market the company’s brand more easily. That business is still in existence and McFarland is the CEO.
According to Business Insider, in New York City, Billy McFarland incubated Magnises which is a program for millennials offering them attractive discounts and perks at many of their favorite places where hangout. Restaurants, clubs, bars, events, travel, and special occasions all qualify, as long as the business participates.
For the reasonable annual membership fee of $250, the member gets the discount and in many instances a few perks along the way.
Magnises makes available the Black Card, which facilitates the entire process. The information on the member’s debit or credit card is copied onto the Black Card; then the Black Card is used to pay the bill at the member business establishment, with the discount applied automatically.
The ease of using the Black Card and the fact that millennials will meet for the slightest of reasons, and has caused the membership swell to gigantic proportions. By the end of 2015, membership has passed 10,000 has shown no signs of slowing down.
A recent additional investment of $3 million from a venture capitalist has caused McFarland to consider expansion. Targets locations include Boston, Los Angeles, Chicago, Atlanta, and London. The current business model works well, and McFarland thinks it will work as well in these other cities.
The demographic of young professionals, entrepreneurs, and management types are thick in other cities as well, and Mcfarland does not want to miss a golden opportunity.
The future appears to be in the hands of McFarland and his managers, they can’t wait for the expansion to take place. It will be a success if Billy McFarland has anything to do with it.