The 16-year-old, who started a company that makes miniature skateboards, receives a $10,000 scholarship for school.
By Simon Wakelin / Special to The Malibu Times
Westlake Village native and part-time Malibu resident Dillon Morgan has been named the 2011 Young Entrepreneur of the Year by the National Federation of Independent Business (NFIB) Young Entrepreneur Foundation.
Morgan outdid more than 4,000 candidates nationwide and was presented with his award at a luncheon at The Beachcomber Cafe on Malibu Pier last week Friday. In recognition of his achievements, Morgan will also be awarded a $10,000 educational scholarship that will assist in defraying his tuition fees at California State University, Channel Islands.
Morgan, who is now 18 years old, started his company “Z shred” at age 16, manufacturing custom miniature skateboards. These tiny boards are part of an increasingly popular hobby called “fingerboarding” where people use the boards to do skateboarding tricks with their hands.
But it wasn’t until Morgan’s younger sister decided to buy a fingerboard that he realized the potential of building his own company: “When my sister bought a fingerboard from Europe it cost her about $70, and that was in the lower price range,” Morgan said. “Customers purchasing these products were getting ripped off and I realized that there were no companies making fingerboards in America, so I gave a sales presentation to my family and put up a small investment to start the company. I basically wanted to offer a more reasonable price for a better quality product.”
Z shred, a Malibu based company, later became one of the first fingerboard companies to offer innovative new features and customizable options, such as polyurethane wheels and colored trucks. The company has already filled more than 5,000 orders to 20 different countries.
Morgan received his entrepreneur award from NFIB, a nonprofit company that represents small and independent businesses across America. Its mission is to promote and protect the right of its members to own, operate and grow their businesses.
“We are so proud of when a light bulb is flickering over the head of a young person because the American dream continues to thrive,” NFIB Executive Director John Kanateck said about Morgan’s award. “We represent about 350,000 small businesses across the nation and make sure small businesses can grow and survive, and entrepreneurs like Dillon can thrive.
“For me, The Young Entrepreneur Foundation is the most exciting part of what NFIB does. Since 2003, NFIB has helped promote and support young entrepreneurs like Dillon, who was selected from thousands of young high school entrepreneurs from across the nation.”
With an eye on majoring in business at CSU Channel Islands, Morgan said he would continue to build his company while studying.
“I am going to take this knowledge and experience and put it to good use as I attend [university],” Morgan said. “I will expand my business in local markets and try to saturate the online market. The experience of creating a business has been priceless, and no words really can say how excited I am about Z shred and the award.”
Morgan’s plans to follow up on his undergraduate degree with a masters, and then he feels Silicon Valley could be next.
“I think a high-tech company would be fantastic,” he said. “Some kind of social business, not only to create and make something again, but to really give back to the community because it’s something that I love to do.”
Morgan’s innovative spirit continues. He is currently working on increasing sales at Z shred by creating a complementary Web site with an online contest; Z shred is advertised on the site, while fingerboarders are invited to upload their best videos of tricks. The top three winners will receive prizes from Morgan’s company each month.
With distributors now in place in China and the Philippines, it seems the sky is the limit for Morgan and Z shred, and he gives this advice on achieving success in these difficult times.
“I personally say customer service is where your real success lies,” Morgan said. “Just treat every customer with respect and that will go a long, long way. Plus really love what you do, and every day continue to push forward with a strong drive and work ethic. Then you will succeed.”
Morgan was among five finalists being considered for the $10,000 scholarship. Four other finalists will receive $5,000 scholarships: Jared Schlosnagle of Pleasureville, Ken.; Jordan Renda of St. John’s, Fla.; Colton Day of Wellington, Kan.; and Rohit Agrawal of Plymouth, Minn.