We lost 7.9 million jobs in the recent economic crisis and at the current rate of 18,000 a month, it would take 37 years to recovery those lost jobs! That is a trickle alright. We need a faster solution, a mass production model for creating jobs.
If you were to think of typical neighborhood small business as one that employs 10 people, it would take only 790,000 new businesses to replace all of the jobs lost in the Great Recession. That is a little more than twice the 600,000 new businesses created each year as estimated by the SBA. More interestingly they estimate that there are many times more attempts that never get off of the ground. If we can improve the success rate of new entrepreneurship we could begin to mass produce business creation. That is precisely what Michael C. Hill, the head of NLS Venture Capital is attempting with his new campaign to spur the creation of a million businesses starting with his Million Dollar Idea Competition.
“The idea is to do in mass what would be impractical on a small scale,” he says. “It costs a lot of money to have a business analyst, an attorney, a CPA, and all the rest sit down and evaluate businesses one at a time. One-on-one business consulting is more expensive than that. But, the Internet makes it possible to optimize their time in a one-to-many relationship with all of the potential businesses that join our network.”
This contest is not merely an opportunity for entrepreneurs to have their ideas vetted; it is an opportunity for entrepreneurs to get their ideas refined and funded. For fifty dollars the aspiring entrepreneurs can get more in the way of consultation, guidance, and potential funding than they could dream of getting for a hundred times that much if they would pursue similar results individually. Visits:
The people with novel ideas and inventions that change the way we live are always out there whether or not they are currently equipped to reach their potential. Equipping them benefits the entire economy because startups need everything from secretaries to scientists. To get people back to work entrepreneurs, inventors and the “idea” people need assistance and financing. They need help turning their ideas and inventions into viable businesses whether they are funded by banks, angel investors and venture capital funds.
From July 1st to September 30th participants in the Million Dollar Idea Competition have the opportunity to receive up to one million dollars in seed funding to pursue their business dreams. There will also be thousands in smaller grants to help the aspiring entrepreneurs start or grow their businesses. Serious participants should enter early to get as much help as possible.
All types of submissions are welcome: from a loosely formed idea to a highly detailed business plan. To submit an idea, participants register online at youreinbusiness.com.
After three selection rounds, a grand prize of one million dollars in equity funding will be awarded to the best idea. Cash grants of $5,000, $25,000, or $50,000 will be awarded to runners-up. All participants will "win" because, as members in the NLS network, they will have access to education, mentorship, feedback, and, most importantly, capital.
"This is a business, not a charity," says Hill. "We are offering a free market solution. Competition is a free market principle, so compete for startup money. The competitors will have their ideas and business plans reviewed by professionals, CPAs, MBAs, attorneys, and venture capitalists. I have reached out to Staples, Office Depot, OfficeMax, Intuit, American Express, and others who profit directly from business creation to pitch in."
Whether an experienced entrepreneur or just someone with a fresh idea, this program is designed to take an idea on the fast track to success. It's a win-win for all involved: the entrepreneur wins because he or she is now in the game. NLS Venture Capital wins by adding new businesses to its portfolio. The whole country wins because new businesses mean new jobs.
"Big, small, high-tech, low-tech, it doesn't matter," says Hill. "The key word is 'new' for the economy to start growing again."
Sign up today: http://www.youreinbusiness.com
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NLS provides early-stage companies with critical support services, which include consulting, access to capital, technical and business resources, and networking opportunities. We specialize in getting businesses the money they need to launch and expand.