Startups. Young Entrepreneurs Essay Example | Topics and Well Written Essays - 1250 words

Startups. Young Entrepreneurs - Essay Example And of course there are the "children" that refuse to be seen as incapable members of the society and by chance or knowledge they make it work in the very competitive business market, hit the screen and make a fortune even from their adolescence. This is the case of two young entrepreneurs that share their secret and how they cracked the market. The first case is the one of Dominic McVey. He started his business around the age of 13, when boys have dreams of driving anything that moves. He is now 19 and his business still goes one and flourishes. There could be said that his story is one of sheer luck, but the fact is that he took advantage of a simple fact that happened in his life. By mistake, when he was looking for a Visa credit card, he introduced the word "Viza", which is a brand of scooters. As a young boy he wanted one for himself, but knew that neither he, nor his parents had the money to buy one. He dared to write them an e-mail through which he requested a free one, with the promise that he could sell much more in his town. The answer from the company was that if he bought five, he would get one for free. McVey was not a complete stranger in the field of business and he started gathering the money from different sources, like organizing parties and selling various things on the internet. When he finally got the si x scooters, a new business opportunity opened for him. He sold the five scooters to friends and family and within a week he sold other ten ones. From there the sky was the limit. Some people said that Dominic's business was sheer luck, but when we hear the version of his promotion there are some clear strategies that he followed in order to be successful on a large scale. One of the strong points of Dominic was his great persuasive manner of presenting the product. He admits that "I was very, very competitive. I guess I was very mouthy about other products out there, but all the others out there were crap and expensive." He proved to have a good knowledge of the product and at first he had a great direct marketing strategy, which involved a personal touch and contact with the customers. This touch brought him in the center of attention both for the press and the people in general. The fact that he was liked by the press proved to be essential in his business, as he got the kind of promotion and advertising he never thought to achieve before. Even if as a child he got bored of his scooter, he did not stop selling them. He thought of a way of promoting his pro duct through flyers and was not discouraged when he was chased around by security or the traffic safety people started to be unhappy with so many scooters. His customers had different backgrounds, from the businessmen that bought them as toys, to the persons that used them to commute to their work place. One of the problems that Dominic faced was obviously his age. He managed to overcome this by working mostly on the internet and on the phone. He had good presentations made by his friends and practically this was all he needed. The big companies tended to see him as the little brother and found it a pleasure to share information with his. Anyhow the great advantage of the business was that all the money was his and the only things that were needed to be paid were the phone and internet bills. For Dominic technology filled the gap. The internet marketing strategy worked out. Anyhow, McVey is for now not taking into