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Who is a Entrepreneur?
It’s not about ideas, It’s about making ideas happen ~ Scott Belsky
A person who starts a new firm with an idea and takes on the majority of the risks and benefits is referred to as an entrepreneur. The entrepreneur is usually regarded as an innovator, a source of innovative approaches, products, services, and business models. An entrepreneur is an initiator, a challenger, and a driver who creates something new, either an initiative, a business, or a company.
In a career as an entrepreneur, he or she is at the beginning of a venture, project, or activity. The entrepreneur might not be the ideator, but he or she is definitely the one that decides to make that idea a reality. There are entrepreneurs behind every business in the country, no matter what the size and scope such as Coca-Cola, Microsoft, Facebook, Amazon, and McDonald's.
Quick Facts for Entrepreneur
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Average Salary in India
₹32500
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Suitable for
Male, Female, Others
There isn’t any gender suitability when it comes to a career as an entrepreneur, anyone can be one. A person from any gender can become an entrepreneur, provided that person has all the necessary skill sets and the right attitude.
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Any special needs
Yes
There is no restriction for individuals who want to pursue a career as an entrepreneur. If the special need does not affect the person's ability to do work and manage the affairs of his or her organisation, then there is no problem. As long as the disability does not come in the way of the organisation's growth, people who are specially abled can become entrepreneurs.
Table of Contents for Entrepreneur
What is the role of Entrepreneur?
Entrepreneur job description includes developing, designing, producing, marketing, and eventually selling business products with the end goal of financial profit. He or she owns and operates everything from small businesses to tech startups. Owning one's own business can be extremely rewarding and fulfilling.
However, having an entrepreneur as a career also means undertaking a lot of risk and initiative, and inevitably comes with a fair amount of stress and angst. A business entrepreneur is most likely to be the first one at the office and the last to leave, and often put in extra hours in the work to make sure things are running as smoothly as possible.
An entrepreneur is the leader of the organisation, he or she will be in charge of establishing the internal tone, setting a good example for his or her team, resolving conflicts, and keeping morale up in times of distress or hardship.
An entrepreneur also acts as a financial analyst. He or she is responsible for overseeing your financial records and taking action when necessary to prevent a disaster such as securing a new line of credit.
As the primary visionary for his or her company, the job is to establish an image for the company brand. He or she can recruit an outside marketing professional to help you come up with the nuts and bolts, but ultimately, it is the entrepreneur's job to finalise your company’s marketing plans.
In Entrepreneurship as a career he or she will be in charge of building the team that carries ideas and objectives through to success. This means he or she will have full control over who comes into his or her organisation.
Types of a Entrepreneur
There are different types of entrepreneurs such as Business Entrepreneur, Social Entrepreneur, Serial Entrepreneur, and Lifestyle Entrepreneur. The particular type of entrepreneur depends on the type of motive of work. For example if the motive of entrepreneurship is to make profit in the business world then it will be called as business entrepreneur.
Business Entrepreneur: A business entrepreneur is someone who has an idea or product for the business world. It is usually a new or different idea, something that has not been seen before, or something that provides a new twist or improvement for an existing sector.
Social Entrepreneur: A social entrepreneur is someone who has innovative ideas for social change, or new solutions to social problems, and dedicates their time to bringing these ideas to fruition. This might include issues of inequality or poverty; an example would be to create a new charity to address these issues.
Serial Entrepreneur: A serial entrepreneur refers to someone who has a lot of ideas and constantly starts up new companies or enterprises to implement these ideas. Generally, a serial entrepreneur will have had good success or successes with previous ventures, allowing him/her to start up new ventures.
Lifestyle Entrepreneur: A lifestyle entrepreneur refers to someone who starts up an idea or venture based on a sport, hobby, or pastime they are passionate about. For this type of venture, usually large start-up costs are required. Often people who have been successful in the business world and have some of their own money to invest might make this transition.
What is the workplace/work environment of Entrepreneur like?
Generally, the workplace will be office-based, but it may vary when it comes to the career as an entrepreneur. The size of the workplace will depend on the size of the venture and may start at home or in a small office and grow to a large corporation. For some ventures, the workplace will be dependent on the specific idea or industry, for example, a sporting venture may require a sports facility and this would serve as the workplace.
Does Entrepreneur require travelling?
Likely
There is a lot of travelling involved when a person decides to make a career as entrepreneur. The person is required to meet all the important stakeholders. He or she is also required to meet the vendors and government officials on a regular basis in order to be in the loop, in case there are any latest developments which might affect the business.
Time Pressure
Likely
In Entrepreneur profession it requires a lot of hard work, persistence, and supervision. There are a lot of tasks one has to perform in the career as entrepreneur within a day. Hence, the time pressure is immense. Meeting deadlines, completing projects, holding meetings, and meeting investors and other significant stakeholders require a lot of time management. The time pressure for entrepreneurs is considered intense.
Overtime Details
Entrepreneurs are required to work overtime almost every day. In fact, they also work on weekends and sometimes holidays. They are required to report to their office before everyone and leave the office after everyone. In a career as entrepreneur, working overtime for long hours is quite common.
How to become a Entrepreneur?
Steps to become a Entrepreneur
In some careers individuals are not required to follow any hard and fast formal training. Career as entrepreneur is one of the many names that does not require any formal training. Though there are some steps that one individual needs to follow to become an entrepreneur. Let us sneak peek at the steps that one should follow to become a successful entrepreneur.
What are the skills and qualities required to become a/an Entrepreneur?
We have provided here details of entrepreneur skills. These entrepreneur skills are crucial to perform in a fast-paced Corporate work environment. Here, we have discussed how to become an entrepreneur.
Ambitious: Entrepreneurs are highly ambitious, they may have an internal drive to work hard, and they may be committed to doing what it takes to make a career as an entrepreneur. Generally, they will not look for shortcuts and are willing to put in the time necessary to get the job done right.
Willingness to learn: Entrepreneurs must stay updated with changes in technology, the evolution of their industry, sales processes and more in order to make a career as an entrepreneur. They must Always seek new knowledge. More than that, they look for the most successful people in their industry, and are not afraid to ask for their opinions or advice.
Communication skills: Communication is one of the most important skills in any field, entrepreneurs must be good at communicating to their clients and stakeholders. Strong communications skills can get things done for entrepreneurs whether they are raising funds from investors and the initial sales process.
Creativity: Entrepreneurs must try new things to find what works best in their career as an entrepreneur. This may be something as simple as talking to new people or taking a personal interest class. Each experience that entrepreneurs have can lead to new opportunities that you previously did not have available to you.
Courage: In order to harness the power of creativity, entrepreneurs must have the courage to act on their great ideas and plans. While they need to research their ideas thoroughly, they must also have the courage to take an unknown step and try things that are unfamiliar.
Which certifications and internships can be helpful in becoming Entrepreneur?
We have mentioned below certifications that individuals may opt for who want to establish a career as Entrepreneur. In order to become an entrepreneur one can learn essential knowledge and skills from below certifications.
Internship Availability
Entrepreneur Jobs and Salaries
Social entrepreneur
Permanent
- Average Salary 25000
Job Description
Social entrepreneurs discuss the most important matters facing society and seek to stimulate social progress in industries such as medicine, agriculture, education, climate, and human rights, incorporating innovative methods and technologies, and applying more thoroughly developed innovations or approaches.
Salary Description
Salary is aligned with organizational knowledge and will power to a start-up business. The entry-level wage may be up to four lakhs per year, and can ultimately be more than eight lakhs per year at the senior level, based on the expertise.
Lifestyle entrepreneur
Permanent
- Average Salary 40000
Job Description
Lifestyle entrepreneur produces an industry for the function of modifying the lifestyle and therefore not exclusively for profit-making. A lifestyle entrepreneur is more concentrated on the career achievements given by people who appreciate what they are doing and have a genuine love for it.
Salary Description
Earnings in this sector reflect the skills and experience in this area. The entry level wage would be Rs. five lakhs per annum, which could possibly touch annually nine to ten lakhs.
What is the job outlook for Entrepreneur?
Now the important thing for entrepreneurs is that the environment really provides opportunities to build businesses in india? The job outlook is positive as India is the third-largest startup ecosystem globally, with around 50,000 startups, including approximately 9,000 technology-driven ones. Even the rate of new startups is 12 to 15 percent annually.
Even the government is increasingly promoting startup culture through various initiatives like Make in India, and the Atal Innovation Mission provide support including funding, mentorship, and incubation services. Overall individuals looking for how to become an entrepreneur can start their own business by finding the problem, solution and finally implementation.
Frequently Asked Questions for Entrepreneur
Que. Is it hard to build a successful startup?
Ans.Only 5 percent of startups succeed because it takes time and determination. One with strong planning and dedication can definitely build a startup.
Que. Is entrepreneurship a good career?
Ans.When it comes to career as entrepreneur, candidates start new businesses and take on the risk and rewards of being an owner. This is the ultimate career in capitalism - putting your idea to work in a competitive economy. Some new ventures generate enormous wealth for the entrepreneur. However, the job of an entrepreneur is not for everyone.
Que. How long does it take to become an entrepreneur?
Ans.Becoming an entrepreneur often but not always involves completing at least a three-year BBA Degree. After that, entrepreneurs’ paths to success vary dramatically. Depending on their industry or business, some pursue graduate degrees; some take standalone courses to further their knowledge; others are largely self-taught. In order to have a better knowledge of the field one could also pursue an M.B.A.
Que. Are entrepreneurs happy?
Ans.Entrepreneurs rank among the happiest careers. Overall they rank in the 93rd percentile of careers for satisfaction scores. This notably high happiness quotient among entrepreneurs may very well be connected to the freedom, independence, and self-expression that generally depict entrepreneurship.
Que. What personality traits do successful entrepreneurs have?
Ans.Vision, Drive, Passion, Confidence, Humility and Empathy, Open-mindedness, Decisiveness, and Optimism are the personality traits that can make a career as entrepreneur.
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Questions related to Entrepreneur
Which undergraduate course should I select if I want to be a business person or entrepreneur?
Entrepreneurship is all about having an idea and being able to pull through to make the idea into a successful business. Irrespective of what bachelors degree you take, if you have a business idea and the motivation to set up a company of your own, there are a lot of organisations out there which will help you and sponsor it to make a scalable business. Some colleges do offer specific courses in Entrepreneurship like below but these are not mandatory.
- BA Hons in Business Management & enterprise
- BA Hons in Business Innovation and management
- Bachelors in Entrepreneurship
- Bachelors in High-Tech Entrepreneurship
- Bachelors in Business Administration
The main skills needed for an entrepreneur are:
- Have the right business idea - If you are an engineer, you may probably have a technical solution to a problem. Or an agricultural student may have a solution to the plight of farmers, Similarly anyone can have an idea which can be as small as giving a platform for other business to sell and purchase or consultancy etc. This is irrespective of the degree you have.
- Plan your business Strategy : Once you have an idea, find a team to support you and look for some basic initialinvestment to give shape to the business plan.
- Pitch the idea & find investors: In order to run a successful business, we need people to invest in our business. SO makethe right pitch andsearch for funding.
- Visualise & Sell: Once everything is in place, sell the products and run the business.
All of this does not require a formal education. However having a degree always helps in building your credibility in the market. Also the education imparted to you during the course uses lot of case studies to explain real life problem. Some of these can be used in practical use cases and that gives you an added boost over others. Also a good college gives you the right industrial and corporate exposure and a platform to network with others and fins alumni. Hence, having a good college background is essential.
Answer laterif I should do bba general or bba honours so I can become an entrepreneur afterwards. Which of them will be good for me ?
Hey Sahil,
Basically Bba Honours is better than Bba general. Because Bba Hons curriculum includes specialisation where as, in Bba it does not include any specialisation. And whether choosing Bba general or Bba honours doesn't decide your entrepreneurship. Irrespective of the course you pursue, you can definitely become a successful entrepreneur if you possess the desired skills. Try to improve the skills you need for entrepreneurship and work on it. Check out the below given article to know the skills required by an entrepreneur.
https://www.entrepreneur.com/article/242327
Hope to see you as a future entrepreneur.
All the best for your future.
Hey, I want to be an Entrepreneur and Im from BCA background tell me any suitable course which has combination of management and technology other than MBA in IT
I am a BCA aspirant and wants to be an entrepreneur in future for tht I need to take MBA,also I wanna try myself in technologies by taking MCA ,hence currently Im confused which to choose MCA (where I will get to explore myself) or MBA where Ill be able to persue entrepreneurship after yrs work.
hi,
mca and mba course both are different in both ways, you should know that main job aspect after mca is software engineering or programmer, however you may also start your own business after completing some years of job experience in programming or software engineering field, but if you are interested for managerial role then you may go for mba, since your background in computer application you may choose mba in information system.
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Did you know?
Fact 1
There are approximately 7.6 billion people in the world and out of them more than 600 million are entrepreneurs.
Fact 2
60 per cent of people who start small businesses are between the ages of 40 and 60.
Fact 3
19 per cent of startups fail because of too much competition, and another 18 percent fail because of pricing or cost issues.
Fact 4
80 per cent of entrepreneurs funded their business out of pocket.
Fact 5
Japan ranked fourth least entrepreneurial country.
