A couple of days ago, I came across an article published in the Harvard Review by Maxwell Wessell and Neil Khare titled: Job Growth Depends on Reducing Entrepreneurial Risk. In this article they hypothesized that, “the only way to sustainable job creation in the United States is to facilitate the formation of new high-potential startups by reducing the risk of entrepreneurship.” They then proposed that the government should be responsible for reducing the risk of entrepreneurship by; reducing the upfront costs of starting a business, providing various resources along the way, and lowering the cost of failure. However, what they didn’t know was that their hypothesis was closer to reality then they thought.
Today I am going to discuss how Inventro reduces the risk of entrepreneurship by; reducing the upfront costs of starting a business, providing various start-up resources, and lowering the cost of failure.
Reducing the Upfront Costs of Starting a Business. Statistics from the SBA show that the average business is started with $10,000 worth of capital. Starting any business with Inventro, regardless of overhead, costs $6,000 which is paid over a twelve month period. The $6,000 dollars goes to covering the various start-up resources that are provided to the entrepreneur.
Providing Various Start-up Resources. Throughout Inventro’s Business Development Program we provide several key resources to help entrepreneurs start their business including; a step-by-step business development guide that instructs entrepreneurs on how to start a business, one-on-one mentoring, venture capitalist feedback, start-up funding, etc. This makes starting any kind of business regardless of complexity accessible.
Lowering the Cost of Start-up Failure. Inventro takes the utmost pride in helping to reduce the cost of start-up failure by making entrepreneurship a profession. How we do this, is every business we decide to invest into we provide the following benefits to the entrepreneur; a three-year employment contract paying $60k/yr, full medical benefits for a family of four, three weeks of paid vacation, and a dedicated 401(k) plan. This way if the start-up is one of the many casualties that don’t make it, our entrepreneur can walk away with their head held high and valuable experience gained.
What do you think? Is Inventro on the right path of reducing entrepreneurial risk? Does reducing entrepreneurial risk create more jobs in America? Respond below with your opinions.
*Sorry for making this blog post sound like an advertisement, as my primary intention was to address the article written by Maxwell Wessell and Neil Khare.
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