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Entrepreneur


Description

Entrepreneurs come in all shapes and sizes. From an eight-year-old girl running a lemonade stand on the street to a 50-year-old ex-accountant who opens a jazz bar, entrepreneurs are people who see a potential opportunity in the making and start their own businesses. It all begins with a brilliant and original idea and then evolves into a risk-taking venture. The creation may be something completely new or it could also be an improvement to an already-existing product.

Starting a business from scratch is risky since it will occupy a person's time, money and passion. Also, many new enterprises fail within their first year or so, therefore entrepreneurs must be willing to take rejection and move on or improve their original product. An entrepreneur will conduct numerous hours of preliminary research and then organize, manage and assume the risks of starting a business or enterprise.

Everyone wants to be their own boss these days, calling their own shots. Therefore starting and running your own business is the best way to try to achieve independence and freedom in one's work. Entrepreneurship allows people to spend their working time doing something they are passionate about. In order to start a business, entrepreneurs must be able to open their minds to new ideas and consider the positive possibilities of opening a business or inventing a new product.

It is important to remember that almost every business started as an idea in the mind and heart of an entrepreneur. Businesses do not just start themselves. It takes the vision, persistence and hard work of an entrepreneur or a group of like-minded individuals that wish to operate a business. An entrepreneur takes the initiative to combine land, capital and labor to produce a good or service in what is hoped will be a profitable venture. They are usually innovators in their respective fields as they try and bring a new product or service onto the market place.

Successful entrepreneurs have a strong business sense; either from their personal experience or through schooling and extensive research. They should know their product inside and out, their targeted market and especially their competitors. Entrepreneurs must also be extremely motivated and driven by their passion.

Access to money or capital is crucial to starting a business, so unless an entrepreneur is independently wealthy, they must use all of their networking resources and apply for loans, bursaries and contests. There are many organizations that help young entrepreneurs with good business plans. Once the plan gets into motion and the business is running, entrepreneurs must market the product or service and find a client base.

If an entrepreneurial venture becomes a success and profits arise, the rewarding side of this career comes to play and it proves that hard work really does pay off.
 
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Grand Canyon University
Ready to earn your business degree?
Programs Offered:
  • B.S. in Entrepreneurial Studies
  • M.B.A.: Leadership
  • M.B.A. and M.S. in Leadership (Dual Degree)
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  Interests and Skills  
Creative, innovative, brave, persevering, original; these are some attributes usually associated with entrepreneurs. Entrepreneurs must be the front of the line fighters; the ones who will continue to get up when down and jump over the many obstacles standing in their way. They must be self-disciplined because they are working for themselves. If there is not boss standing over one's shoulder telling them what to do, they must find motivation and passion from within to carry on and see their creation come to fruition. They must love dealing with people and communicating clear ideas to prospective investors.
 

  Typical Tasks  
  • Since entrepreneurs are creators of new and original enterprises and the career is quite broad in scope, there are no specific typical tasks associated with the job. Most entrepreneurs do extensive research on their product, market and competitors, however once the venture is up and running, they could be undertaking anything from sitting behind a desk to washing windows or traveling around to meet different clients. A typical day is specific to the business that an entrepreneur starts. Nevertheless, they generally work long hours, especially when starting out. A fourteen to fifteen hour workday would not be uncommon for an ambitious and dedicated entrepreneur for it is the entrepreneur that holds the ultimate responsibility for the success or failure of their company.

  Workplaces, Employers and Industries  
  • Since entrepreneurs work for themselves, they can work in any number of locations. They may work indoors, outdoor, alone, with people, at home, in an office . . . pretty much anywhere they create their businesses!

  Long Term Career Potential  
Entrepreneurs have the opportunity to change careers many times in their lives. Those with a business background can work in marketing and management organizations. However, if an entrepreneur is successful, they probably will never work for anyone but themselves. They may open their own consulting firms, becoming teachers or motivational speakers. Also, if their company is a success, there is always the possibility of starting a franchise and expanding the business.

Many entrepreneurs fail a few times before they achieve true success therefore learning from mistakes is excellent education and motivation for improving the next venture.
 

  Educational Paths  
There is no specific educational path to becoming an entrepreneur. Many universities and colleges offer business programs specializing in entrepreneurial studies and taking related courses in marketing, business management and accounting can really be helpful for potential business starters. It is also useful to have knowledge about the area one plans to start a business in; for example, an entrepreneur starting a garden store/nursery should have knowledge of plants, flowers and even take courses in botany. However, many experts say that real-life business experience is the best education.

Running a business on your own obviously requires a great deal of skill and knowledge. But where can people obtain these skills and knowledge? At school? There are stories about entrepreneurs who have set up and run a business without a college degree, some without even finishing high school. But those people are a giant exception to the rule. It is really useful to go to school, because entreprneur courses cover the essentials of starting one's own business and require student to create a business plan. There obviously takes more than just an education to achieve success as an entrepreneur, however it is recommended to attain as much education as possible as it does prepare students for the business side of this career.
 

Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, http://www.bls.gov/ooh/
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Employment Statistics, 2002, http://www.bls.gov/oes/2002/oes_nat.htm

Featured Schools

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Grand Canyon University
Why earn your degree at Grand Canyon University? GCU is a regionally accredited university offering graduate and undergraduate degrees in Business, Nursing, Psychology, Education & more. Apply today!
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  • M.B.A.: Leadership
  • M.B.A. and M.S. in Leadership (Dual Degree)
  • And more...

 
Walden University
Earn a respected bachelor's degree, master's degree, or Ph.D. online at Walden University.
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Ashford University
Forbes School of Business & Technology at Ashford University, where school comes to you.
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EMERITUS Institute of Management
Design thinking is a powerful process of problem solving that begins with understanding unmet customer needs.
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Northcentral University
  • Northcentral University was founded in 1996 to provide working professionals around the world with unprecedented access to richly engaging, professionally relevant, and academically-rigorous education from a U.S. university.
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Keiser University
Launch your career in Business at Keiser University Online. Select from Associate, Bachelor's and Graduate Online Degree Options.
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Liberty University

100% Online & No Standardized Testing

Programs Offered:
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Walden University

Impact your world with a degree from Walden. Start today!

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Platt College
Turn Your Passion Into A Career with Platt!
 
At Platt College, we encourage our students to follow their passions, wherever they may lie, to find a career they love. You’ll find a supportive learning environment and career-focused training designed to help you gain the knowledge and hands-on training you need to succeed. 
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Simmons University - MBA

Named a “Best College” by U.S. News & World Report, The Princeton Review, and Forbes, Simmons University has earned a reputation for providing a pioneering liberal arts education for undergraduates integrated with professional work experience. 

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