Joining an Accelerator Can Help Avoid Pitfalls of Entrepreneurship

22
Mar
2017
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Entrepreneurs work hard to plan for most situations that could arise within their new business.  But, there will always be unexpected bumps in the road to surprise even the most insightful, experienced entrepreneur.  Unfortunately, given the inherent risks of entrepreneurship, there can be so many unexpected twists and turns that managing them all effectively while still growing your business can seem impossible.  Joining an accelerator like the Innové Entrepreneur Platform however can help change this.

We strive to offer technology and consultative entrepreneurs everything they need to avoid all the common pitfalls of entrepreneurship, while still affording the independence necessary for entrepreneurs to innovate and succeed.  Here are a few of the support services we provide and how they can aid in overcoming many of the hurdles that can affect fledgling entrepreneurs.

A Team for Entrepreneurs

One of the most common complaints entrepreneurs share is that they no longer have a team to work with.  They’re now going solo.  Although that was the ultimate goal, there are often unexpected negatives – including the lack of other professionals to brainstorm with, share leads, act as a mentor, or just chat with during a break.

Joining The Platform gives you access to the Innové Business Alliance.  The Business Alliance is an accountable peer-to-peer support network that’s dedicated to rhythmic resource, insight, and leads sharing to support the growth and success of each independent member.  Business Alliance members have found this to be an ideal balance of team support and independence.

Consistent Positive Cash Flow 

There are a variety of ways for entrepreneurs to obtain funding.  Most take the focus away from building your new business with paperwork and meetings.  Others can be inconsistent and leave entrepreneurs scrambling.  In many cases entrepreneurs aren’t going to uses these funds to cover a personal salary either.

Unlike an entrepreneurs, an accelerator isn’t starting from scratch.  We have positive cash flow with a working capital balance. Also, we maintain long standing, multiple banking relationships and short / long term credit facilities with Innové as the responsible party.  In addition, you will immediately receive a salary, expenses, and benefits to allow you to keep your attention on selling and delivery in the market; which will in turn facilitate positive cash flow over the long term.

Staffing and HR Support

Finding the right staff can be stressful.  Entrepreneurs face several unique hurdles including a tight bottom line, limited yet growing work, and no time for recruiting the candidates.  Add to all of this the need for HR services and staffing a startup can become difficult.

To avoid this pitfall, members of the Business Alliance benefit from the ability to hire the right staff, but only for the hours they’re needed. Innové engages with multiple staffing organizations to assist the team no matter what type of talent is needed when, or for how long.

In addition, Innove Platform members have access to a full time HR director along with a world class payrolling company to manage HR/Payroll/Benefits. We also have full time staff to manage policies, procedures, and resolve any HR/benefit related issues on your behalf so this important work doesn’t distract you from the success of your business.

If you’re a consultative and/or technology entrepreneur and you’d like to learn more about all of the ways joining an accelerator like the Innove Entrepreneur Platform can help you avoid the pitfalls of entrepreneurship and achieve success, contact Innové COO Blaine Lewis at blaine.lewis@innove.com.