In which category (or categories) would you place Jason Salfi as an entrepreneur? Why? Give examples. Which of the traditional do you believe best describe Jason Salfi? Why? In the video, Jason Salfi started his journey by making and selling his skateboards to his friends and local patriots. At that time Jason Salfi showed obvious signs of a classic entrepreneur. With his growing family, Salfi became a lifestyle entrepreneur to gain control over his life and with the passion for skateboards this was pure satisfaction to Jason.
When making his skateboard Salfi realized that skateboards were accounting for approximately 40 percent of the natural maple being harvested each year. The products that were used to produce the boards were made with several layers of maple and sprayed with a lacquer-based coat, Jason knew there had to be an alternate way to build a durable skateboard. (WILES) After discovering an environmentally friendly way to produce his product he sought to make a company that would make an imprint on the use of natural resources.
With that said Jason Safi then became a social entrepreneur: he recognizes a societal problem and used his previous business principle to develop innovative solutions. Social entrepreneurs are forerunners of modernizations that benefit humanity. If he would develop an additional business following the success of his current business Comet Skateboards then at that time he could add serial entrepreneurship to his many titles.
As Comet Skateboards reaches the next level of growth, where might the firm have the best chance of obtaining further financing? Why? It’s so important to differentiate between an established business and a new start-up business because funding for a seasoned business is extremely easier to come by. Being that Comet Skateboards is now established and reached the next level of growth for the company debt financing would be a convenient method to obtain additional financing. Debt financing is when money is borrowed and it must be paid back.
This could be through private investors loans from banks, finance companies, credit card companies, and family or friends are all sources of this method of financing. The Small Business Administration recommends finding alternative methods of funding other than personal credit cards because this source of funding is so expensive. (KURTZ) Reflect on a basic needed service or product in your immediate community (or someone else’s) and discuss how it can benefit. This can be a large or small, expensive or inexpensive product or service.
In my community it’s a dire need for a community-based organization for our youth Its so many unnecessary crimes being committed by our youth with too much time on their hands … Senseless murders and petty crimes seem to be the way our youth entertain themselves … Ignorance is bliss. I firmly believe that If we had an organization that allowed the youth to come together and develop social skills to thrive within society our crime rate would drastically decline. In today’s world, we are more connected than ever due to the internet but we are more disconnected with face-to-face connections.
We need to have a business focused on our youth. We have everything else. This can start as a small inexpensive service it needs only a building and a passionate individual to start the business or should I say movement.
- Kurtz, David L. , and Louis E. Boone. Boon & Kurtz’s Contemporary Business. 15th ed. N. p: John Wiley & Sons, nd. Print. Wiles, John. “Video Case 6. 3. ” . N. p.. Web. 24 Jan 2014. http://myeclassonline. com/re/DotNextLaunch. asp? < http://threadcontent. next. ecollege. com/pub/content/2563134f-bfd7-4ed0-9822-245f5166bd5d/AI_FND152_W3_A1_transcript. pdf>