Nowadays start-ups are the driving force for any thriving economy. How many ideas for a business do you have running in your head as you learn and observe new things every day? Maybe an idea for new technology, a new mobile application, or even a new restaurant. This is the common mindset of all entrepreneurs.
If the above trait describes you, then you might want to consider a career as an entrepreneur. Would you like to know what are the courses you can take to become a successful entrepreneur? Maybe the skills you need to develop, what it is entrepreneurs actually do, or how much you could possibly earn in a career as an entrepreneur.
This guide will provide you with the answers to all your questions. Keep reading and discover what a career as an entrepreneur is actually like.
An individual who starts a new firm, taking on the majority of the risks and reaping the majority of the gains, is known as an entrepreneur. The entrepreneur is frequently viewed as an innovator, a source of fresh concepts for products, services, businesses, and operational methods.
They are essential to any economy because they have the knowledge and drive to foresee requirements and sell viable new ideas. They are able to identify when there are gaps in the market, and where a certain business idea can be successful. They constantly seek new opportunities to start a business.
When they decide to bring an idea to life, entrepreneurs are then responsible for the whole business, meaning they must ensure that every aspect of their business is taken care of and under the guidance of the right people. They must:
In all, Entrepreneurial activity comprises creating and launching a new firm as well as carrying out a business marketing strategy, frequently with the intention of eventually selling the business for a profit.
Entrepreneurship is not a traditional job role that you find in companies. They are in fact the head of the companies and take on every and any role required of them. However, you do have different types of entrepreneurs and when choosing to take on a career as an entrepreneur, you can opt to be any of the following types.
The Fast Grower: These types of entrepreneurs try to scale a new business as quickly as possible. They are skilled in turning over a couple of million in revenues in the first couple of years, and then to a hundred million within a decade. To achieve this, they hire the best talent and partner with the best investors.
The Opportunity Seeker: The capacity to see financial possibilities, jump in at the correct time, stick with a venture during its growth phase, and then exit when it reaches its pinnacle are characteristics of opportunistic entrepreneurs. These business people are focused on making money and amassing riches, thus they are drawn to ventures that can generate recurring revenue.
The Innovator: Innovators are those that create fantastic ideas or products that no one else has ever dreamed of. Consider Mark Zuckerberg, Steve Jobs, and Thomas Edison. These people focused their work on their passions, which led to their now industry-leading organization. The social impact of their goods and services is more important to innovators than financial gain. These people are better at coming up with ideas than operating a business, therefore they frequently delegate that responsibility to those who are better at it.
The Specialist: These people are analytical and cautious. They have a solid skill set in a particular field that they have acquired through training or an apprenticeship, and they tend to stick to it. A specialist entrepreneur will expand their firm more slowly than a fast-growing entrepreneur since they will do so through networking and referrals.
The Social Entrepreneur: A social entrepreneur is someone who devotes their time to implementing novel ideas for social change or fresh approaches to existing social issues. For instance, one solution might be to start a new charity to solve issues like inequality or poverty.
The Lifestyle Entrepreneur: A lifestyle entrepreneur develops their business concept or venture based on a sport, leisure, or hobby they are enthusiastic about. High start-up costs are typically necessary for this kind of business. People who have achieved success in business and have some of their own money available to invest may frequently make this step.
Do you need a degree after 12th grade to start a business? Technically, no, but that doesn’t mean you shouldn’t get one. A college degree can be very beneficial – and sometimes even necessary – to your success, especially in more technical and complex industries. If you have little to no knowledge of how businesses work or plan to manage complex documents and processes, it may be in your best interest to take a few college courses to brush up on your skills.
PATH 1:
There is no single degree that ensures that you become an entrepreneur. Additionally, it is also industry-dependent. For instance, if you want to become an entrepreneur in the healthcare field, even your MBBS degree can help you gain domain knowledge. However, if you are not sure of your preferred industry, you can go for a general business degree.
A Bachelor in Business Administration (BBA) or Bachelor of Business Studies (BMS) is a good way to begin your entrepreneurial journey. These three-year professional undergraduate programs in business management are offered to students from all three streams- science, arts, and commerce. In order to prepare students for managerial positions and entrepreneurship, these programs offer information and training in management and leadership abilities.
To get more information on these courses and even diploma courses you can visit our blog on How to become an Entrepreneur.
An entrepreneur’s salary is very dependent on themselves. How much do they want to take out for themselves, and how much cashflow do they want to remain in the business they are trying to grow?
As an entrepreneur, you may not be getting paid until the business starts making some sales, and you will need as many funds as possible to remain in the business itself for operations.
On average, individuals opting for a career as an entrepreneur in India will earn an average of ₹3 – ₹4 lacs per year. Experienced entrepreneurs who have successfully grown their businesses and may have invested in others can earn an average of ₹12 – ₹26 lacs per year.
You can anticipate a growth rate as shown in the graph.
Entrepreneurs required a very different set of skills than anyone working for a company would. Many of these skills tend to be innate and not easy to learn through courses. Here are a few skills you should possess if you are interested in a career as an entrepreneur.
Versatility:
An entrepreneur should be ready to take on any role their company requires of them. They should be able to pick knowledge in sales, marketing, finance, and operations so they can make the best decisions in all these aspects.
Flexibility:
You may not have the best formula for success right from the start. A skilled entrepreneur knows when to adapt and make changes for the betterment of their business.
Networking skills:
Building and managing relationships with other professionals in order to grow and promote a business are what networking entails. Effective networking skills open up future opportunities and aid in the development of a strong brand. Entrepreneurs can use networking to meet like-minded professionals, form future teams, and stay current on industry trends.
Financially Savvy:
Most businesses will not make a profit in the first year, so knowing how much funding to put in the right places that will help your business grow is key.
Communication and active listening skills:
Every entrepreneur must be able to effectively communicate with clients, team members, and other stakeholders. Entrepreneurs require superior written and verbal communication skills, whether during meetings or when sending reports and messages about a project via email. Aside from communication skills, entrepreneurs must be excellent listeners in order to understand project requirements and participate in project meetings.
Resilient:
A successful entrepreneur must be tenacious in the face of any obstacles. They must continue moving forward even when they experience rejection or failure.
Risk-taking skills:
One of the most important entrepreneur skills to learn is the ability to take calculated and intelligent risks. Employees with an entrepreneurial mindset are never afraid to take calculated risks because they understand that calculated risks lead to tremendous success. They understand that risk is a chance to learn and grow a business to the next level. Employers seek candidates who are willing to take risks in the pursuit of potential gains and profit.
Business Savvy:
You may navigate the challenging business environment by employing a solid company strategy, and being aware of your target market, your competitors, and your strengths and shortcomings.
Leadership skills:
Excellent leadership skills are required to inspire colleagues, empower employees, and lead from the front. Exemplary leaders set a good example and can lead and work as part of a team. Entrepreneurs with solid leadership abilities motivate their employees, manage operations, and delegate tasks to achieve the company’s objectives.
Creative thinking skills:
In the digital world, creativity is a valuable but underappreciated skill. The backbone of innovation is creative thinking, which forces employees to think differently. Entrepreneurs with creative thinking skills are never afraid to try solutions that others might dismiss due to a fear of failure. Such individuals think outside the box and always seek input from professionals in different fields to gain a new perspective. It is one of the most sought-after entrepreneur skills because it enables them to see patterns (even when there are none) and devise novel solutions to business problems.
The preferred career path for Indian students is entrepreneurship. There are various sectors, including the internet and IT, media, and engineering, where possibilities are plentiful. A career in entrepreneurship offers a surprising degree of professional satisfaction as well as a strong sense of independence.
An entrepreneur also helps drive the economy forward, so you can get the satisfaction that you are doing something to help your nation. Due to rapid new advances in technology, new opportunities for businesses tend to present themselves quickly. Therefore, the entrepreneurship sector contributes about 29% to India’s GDP.
Again, there is no one hiring entrepreneur, since in a career as an entrepreneur you are the one doing the hiring. Though there are popular industries that entrepreneurs are jumping into because of the abundance of opportunities and attractiveness of the industry.
Below are some of the fastest-growing industries where you start a business in a career as an entrepreneur.
Though no formal education is required to start a career as an entrepreneur, taking courses will help you understand what an entrepreneur does and develop certain skills to be a success in the field.
Here are some certificate courses you can take up to motivate yourself in a career as an entrepreneur.
You can even opt for a Clever Harvey- JuniorMBA Founder Program with Clever Harvey. Build a business idea you are passionate about and pitch it to MultiplyVentures, Shark Tank style! This certificate course gives you the opportunity to immerse yourself in the lifestyle of an entrepreneur over a short period of time.
An entrepreneur can have a degree in any field, and they can still pursue a career as an entrepreneur. Finance, marketing, engineering, science, or even human resources. Any of these fields of study would help provide you with some management knowledge and develop skills for a career as an entrepreneur.
Though if you are interested in a specialized entrepreneurship course, there are a few options you could opt for in India.
| Degree | Duration |
| BBA in Entrepreneurship | 4 years |
| BBA in Business Management | 4 years |
| Degree | Duration |
| MBA in Entrepreneurship | 2 years |
| MBA in Business Management | 2 years |
You may find some bachelor courses abroad that may offer a specialized course in entrepreneurship. Some of them include a BA (Hons) in Business Enterprise and Innovation, a Bachelor of Science in Entrepreneurship, a B.Sc in Management (Innovation, Strategy, and Entrepreneurship), and a bachelor of Business in Entrepreneurship and Innovation. These courses take anything between 3-4 years to complete, depending on the country you apply to.
Even pursuing higher education abroad could help in your entrepreneurial journey. Some of the available options include post-graduate degrees like MS in Entrepreneurial Leadership, MBA in Entrepreneurial Management, MBA in Social Enterprise and Entrepreneurship, and Executive MBA – Entrepreneurship. Post-graduate courses take 1-2 years to complete. However, different countries have varying criteria. Thus, make sure that you check their websites.
Students must take important international entrance exams such as the SAT, MCAT, LSAT, GMAT, GRE, IELTS, and TOEFL. Clearing these exams is required for admission to universities and colleges in various countries around the world. Clever Harvey’s step-by-step guide to the SAT entrance exam will provide you with all of the necessary information for the SAT exam. Check it out for yourself!
If you’ve arrived at this point in the blog, it can only mean one thing: you like entrepreneurship and may one day become an entrepreneur yourself! As a bonus, a few inspiring movies of entrepreneurs are included here. Check them out and have fun exploring more!
Books to Read
Best Entrepreneurs to Follow on Social Media
Although the road to entrepreneurship is challenging, it can also be quite rewarding. Business success does not come quickly. It takes a lot of planning, preparation, imagination, grit, and patience to succeed as an entrepreneur. We sincerely hope that this post will help you expand the business you have planned or will plan in the future. Best wishes for your business endeavours!
Some people will argue that having a college education is not necessary, but others think it can be a good starting point for the future. If your degree is in business, it will be especially helpful, as 82% of successful business owners claim that having the right education and experience to run a business has helped them, even when they have little money.
The best perk about being an entrepreneur is that you can start at any time. However, it is always advisable to complete some formal education to get relevant knowledge, skills, and experience on how a business runs. You may even get some great ideas during your study years.
A businessman is someone who establishes a company using an existing concept and provides clients with goods and services. A person who launches a business with a novel idea or concept and engages in commercial activity is known as an entrepreneur.
There are several options for you to finance your business if you have a lack of funding. You can definitely seek the funding required through angel investors or a financial partner. You can even start a bootstrap business with minimal capital and look to grow from there.
The greatest business major is the one that advances your professional objectives, yet some business degrees are more in-demand than others in the job market.
–Finance.
–Accounting.
–Business administration/management.
–Logistics/supply chain.
–Management information systems.
–Marketing.
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