The Youngest Entrepreneur

 

 

 

 

 

Case Study – The Youngest Entrepreneur 

Situation:

The conversation with my youngest client has been very revealing to date. His business will have many sides to it besides just the crafting of skateboards and decals. To that end he has been grappling with the exact same problems faced by adult business owners. His insights have proven to be a delightful surprise.

Analysis:

  1. How will I raise the initial capital needed to open my store?
  2. Will I need to hire contract or permanent employees?
  3. Do I have to pay sales tax on items I order over the net?
  4. Can I open an online store to compliment my brick and mortar offerings?
  5. Can I barter my services for marketing materials?
  6. How should I collectively price my merchandise?

Solution:

For a 12 year old he has a firm grasp on how to start off his business with a firm foundation.  The whole point in working with Jacob is that he gets it. He knows from his family’s experience that if he can build his business from a firm foundation of processes, procedures, and by not over extending his debt, he can be successful over time. His initial exuberance has now given way to the business of business. He still has that very necessary fire in the belly which is the main ingredient necessary for a small business startup. He still gets very excited about describing the skate board park, the practice park, lessons, and designs he wants to promote for this business. However, he has a practical side that is very unusual in any small business owner much less a 12 year old. I have absolute faith that this business will succeed and provide a very good living for Jacob and all of his employees. This is the spirit that founded the USA, and it is why we will have a future in this country.

Comments

  1. Kari Capetillo says:

    Jacob, it was so wonderful meeting you last night at BGV. You are ahead of your time young new friend, like a sponge out of water whose already soaked it up! But still new and fresh! Your mom should be incredibly proud. You are truly amazing and going to do great things! Just always remember to stay true to who you are! Let me see what I can do about that little favor. Peace lil man! Kari

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