1081: From Jail to Millions: The Rise of a Teenage Entrepreneur with Fernan Chacon
11.09.2024
0:00
16:43
Fernan Chacon was born in Venezuela during one of the country's worst financial crises. At the age of 15, his father, who was the sole financial provider for the family, abandoned them, cutting off almost all financial support. This challenging situation pushed Fernan to take matters into his own hands. Without his mother's knowledge, he sold the only valuable item he owned, a gold necklace, and used the proceeds to buy a computer and start an online business. Remarkably, this venture generated over $100,000 in profit within its first year.
At 16, with the help of his stepfather, a U.S. citizen, Fernan moved his family, including his mother and younger brother, to the United States. Shortly after, he purchased a Tesla Model 3 but was scammed out of $15,000 by an older man. Determined to rectify the situation, Fernan took the man to court, representing himself despite having no legal experience, and successfully recovered both his money and the car.
Fernan enrolled in high school in the U.S., where he quickly made friends and launched another business in the logistics industry. This venture also achieved significant success, generating around $100,000 in its first year. However, his high school experience took a turn when he was arrested over a misunderstanding related to a kid's game. This incident led to rumors and the alienation of some of his friends, with even his best friend turning against him. The experience prompted Fernan to drop out of high school during his junior year, just after spending a night in jail, allowing him to focus entirely on his business.
In the year following his decision to leave school, Fernan's business flourished, earning $700,000, driven in part by his determination to prove his doubters wrong. His company continued to grow, and just last year, it surpassed $10 million in revenue, with a 409A audited valuation of $17.6 million by Carta.
Listen to this illuminating Sharkpreneur episode with Fernan Chacon about becoming a successful entrepreneur as a teenager.
Here are some of the beneficial topics covered on this week’s show:
- How having a tumultuous background doesn’t prevent people from starting successful businesses.
- How companies need help managing the complex process of moving goods globally.
- Why using an app to manage shipments provides visibility and optimization.
- How it’s important to leverage data to optimize supply chains because it ensures timely delivery and reliable service.
- How Kevin Harrington and Fernan wrote a book together which is coming out on September 17th!
Connect with Fernon:
Guest Contact Info
LinkedIn
linkedin.com/in/fernan-chacon-37879520b
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