How Nick Molnar Made His Billion’s And How You Could Too

As aspiring entrepreneurs, people are always looking to find out what’s missing in the market or what solution they can make for an existing issue by creating a product or service. However, Nick Molnar formed his multi-billion dollar business by encountering the issue first hand with his test-run company ‘Ice Online’ by chance, so always keep an eye open.

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Aussie born, Nick Molnar struck fortune when he co-founded ‘Afterpay’, a financial technology company that lets you pay for an order in four separate payments, every two weeks, interest free, to make products more accessible to buy for everyone.

The entrepreneur began selling jewellery online whilst studying commerce and graduated the University of Sydney whilst working for a founding partner of a capital equity firm as an investment analyst. The funding owner saw the potential Molnar had to become a great business owner and urged him to make jewellery selling a full-time prospect.

With a drive to be successful, Molnar took the leap and founded ‘Ice Online’, a jewellery business that took off quickly, turning over more than a million dollars a year. Although the entrepreneur had an eminent business venture, he and his family realised that customers didn’t purchase products when they were about to check out online.

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‘People were getting to the checkout and not confident to complete the transaction. We used to sit around the dinner table and work out how to make the transaction easy.’

It was then 2014 and Afterpay was born, to combat the struggles of buying products at a costly price in one sitting. Since founding the business, the sales at Ice Online grew rapidly and income began flowing from both companies.

Now the multi-billion dollar businessman has more knowledge on the ins and outs of creating a flourishing start-up and has shared some tips to help others do the same.

‘When you rip the band-aid off and you move beyond ‘I need a corporate job’ to ‘I can create my own income,’ it’s amazing the growth you can see from a company.’

I’d always thought coming out of university I had to get a job, not ‘I can create my own way.’ And I just think it deserves the time that’s required to get to where you need to.’

‘Look at failure as a way to learn. Don’t take no for an answer – you have to be relentless, especially as an entrepreneur. And back yourself. If you don’t believe in yourself or your idea, no one else will.’