Dana Severson's Theory Summary

Entrepreneur Dana Severson spent a week in tears after failure of his crowdfunding startup: Wahooly. The tears led him to an idea that has proven more successful than Wahooly. Severson launched Startups Anonymous, now a popular site for founders’ anonymous gripes, worries and stresses and since January, it has gathered more than 700 confessions, questions and stories (Financial Times). Well emotional factors depend on the individual personality of entrepreneur but some of them broke at failure and some survive the failure and they comeback with new ideas like Severson. The Cantillon’s Theory does view entrepreneur as an agent that takes risk and equilibrates supply and demand in the economy. Well Cantillon’s theory set way back 18th century but it is true and valid in many ways in this modern era. And we can see entrepreneurs are …show more content…
Well due to lack of experience and knowledge many of entrepreneurs aren’t aware of the insurance plans and policies. The article focuses on the story of Syd Nadim founder of digital marketing ageny Clock 18 years ago. Four years in, he had to be hospitalized and told to be leave from work for six weeks. But within two weeks he was pressurized with finances and other numerous other things that he can only do. He realized that if something happens to him the business will fail. He empowered and delegated his team to take responsibilities for different areas and he also took insurance so that company can get some money if worst happens. This story brings the issue of insurance which can become a relief fund and a backup if some mishap occurs. Mark Sharman, a claims manager at Simply Business, says “Insurance can protect a business in a number of ways. For example, if you were no longer able to operate from your business premises due to a fire or a flood, what would you do? It would mean relocating your staff and renting new premises. Without insurance, this could place a heavy strain on any growing