John Dimmer, a Cloverville Park High School student just like Andrew Fry, visited our class to talk about his experiences with the entrepreneurship lifestyle and the many businesses he's associated with and has been associated with. Even though Oregon is a big rival to UW, I still respect him for attending that school.
John really broke his presentation into two big things: the big idea and funding. He made is very clear how big of a deal funding really is and all the tons of ways people can make money to start up their businesses. He talked a lot about the main funding source, Equity, specifically on "what is your company worth" and "how much money do I need." He also talked about Debt and briefly mentioned others, such as Grants, Business Plan Contests, etc. He preached how expensive Equity is and how young entrepreneurs are very uneducated about how important Equity is in the long run. He sees these young people giving up way too much equity, sometimes even more than 50%, giving up the control of the company, causing many concerns going forward.
He also talked about establishing the raise, company control, angels, and vc. Overall, I was really fascinated with the companies he currently has ownership in. He talked about owning half of a Honda dealership in Oregon, Round Table Pizza, and even AirStream Trailers which I am very familiar with. I found John Dimmer to be very inspirational and his presentation definitely taught me some business related terms that I didn't know about before the presentation.
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