Entrepreneurship Careers

An entrepreneurship career drives the production, capital, labor, and natural resource coordination, policies, and governance across global economies.

Entrepreneurs integrate these resources to provide services or manufacture goods. So the best of them use a college degree from accredited institution to help them make the most of these resources.

They work to create and develop ideas, improve products and services and grow companies. Read on to find everything you need in your entrepreneurship career journey.

Why Choose Entrepreneurship?

Entrepreneurial activity stimulates innovation, economic growth, and productivity. Entrepreneurship graduates have a diversity of opportunities available to them.

You could work as an autonomous entrepreneur and start a new enterprise or for early-stage businesses that need help in a rapid growth stage. You can also become an intrapreneur and innovator in a more prominent company.

Future entrepreneurs can acquire fundamental skills by seeking an associate, bachelor's, master's, or professional degree in entrepreneurship or a related business field.

How to Start your Entrepreneurship Journey

A career in entrepreneurship requires at least a bachelor's degree. However, many roles require more advanced degrees.

Graduates who obtain an entrepreneurship degree can prepare for several careers, depending on what type of business they plan on starting.

Many degree programs in entrepreneurship accentuate transferable skills such as writing, reading, research, communication, etc. And entrepreneurs can use these skills for the success of any company.

Education Requirements

Associate Degree

Associate degree holders in entrepreneurship must complete prerequisite courses like financial management and business principles.

Associate degrees in entrepreneurship typically take two years to complete full-time and comprise 60 credits.

These graduates are also qualified for entry-level business positions such as sales representative, advertising agent, etc.

Bachelor's Degree

With a bachelor's degree in entrepreneurship, you can earn entry-level roles in business, marketing, finance, human resources, and sales.

They also offer the entrepreneurial skills required to launch a business.

With your degree, you can earn roles as a financial analyst, marketing manager, financial manager, etc.

Master's Degree

Graduates with a master's degree in entrepreneurship can work as experts in various business disciplines, including finance, accounting, and marketing.

Graduates can also work as consultants, giving advice and direction to nascent businesspeople.

Master's degrees allow students to develop sophisticated skills in specific entrepreneurship fields.

With your master's degree, you can earn a role as a management analyst, budget analyst, etc.

Doctorate in Entrepreneurship

It takes 3-6 years to earn a doctoral degree in entrepreneurship.

These courses equip students with the cutting-edge abilities required for employment as highly qualified researchers, educators, and corporate executives.

Employment Prospects

Entrepreneurship graduates are qualified for various entrepreneurial roles with high demand and job satisfaction.

With your associate's or bachelor's degree, you can work in an entry position with room for advancement.

About 318,100 openings for top executives are projected each year, on average, over the decade.

Entrepreneurship Career Forecast

BLS projects the number of self-employed workers to grow by 3.6% between 2012 and 2022.

Most entrepreneur roles pay over $100,000, with several openings yearly.

As startup businesses spring up yearly, they need entrepreneurs to help me run and grow these businesses.

How to Boost your Entrepreneurship Career

There are different methods that you can use to develop your entrepreneurial skills. For example, you might take a class, attend a conference or participate in a networking workshop.

You should also consider the following steps to help you improve your skill set:

• Take a continuing education course.

• Attend relevant events and workshops.

• Seek out experienced mentors.

• Build your leadership skills.

• Learn how to manage finances.

• Learning new skills that can substitute for owning your business, like budgeting, financial analysis, or networking skills

Entrepreneurs may also need to obtain a state-issued business license.

Lucrative Entrepreneurship Career Paths

Entrepreneurship is an extensive field with various career paths and job prospects in different sectors.

Here are some of the entrepreneurial careers.

Business Manager

The business manager ensures the smooth running of the business departments.

They create plans, carry out duties, delegate work, and set up processes.

They are responsible for making sure that all costs stay within the operational budget, and they also prepare and provide reports to executives as needed.

Average Salary

Business managers earn a median annual salary of $64,015

Roles and Responsibilities

• Assess and identify new opportunities for growth in current and prospective markets.

• Design and implement procedures to improve profitability.

• They assess overall company performance.

• Developing business techniques to meet company goals.

Industries Employing Business Managers

• Business Consulting

• Real Estate, etc

Small Business Owners and Franchise Managers

Franchise managers organize and plan the franchising department of an organization.

The manager ensures that franchisees receive the corporation's message regarding business strategy, promotions, and products.

Franchise managers must have a bachelor's degree in business management or marketing.

Also, employers may require experience in management, marketing, or leadership position for the franchise manager role.

Average Salary

Franchise managers earn a median annual salary of $51,061

Roles and Responsibilities

• Evaluate financial statements to ensure franchisees follow company standards for operations

• Oversees ongoing operations of a franchise and maintains customers relationship

• Coordinate other staff members in the company to ensure that all operations are running smoothly

Industries Employing Small Business Owners and Franchise Managers

• Business

• General Merchandise

• Marketing

Sales Manager

Sales managers help organizations achieve sales targets and realize revenue goals.

Sales managers must have management and leadership skills. They must understand their company's products or services and why buyers need them.

Average Salary

Sales managers earn a median of $127,490 per year.

Roles and Responsibilities

• Responsible for achieving sales targets

• Build and promote strong, long-lasting customer relationships

• Recognize emerging markets and market shifts

Industries Employing Sales Managers

• Real Estate

• General Merchandise

• Manufacturing

Business Consultants

Business consultants act as expert advisors to assist organizations in achieving their goals or optimizing operations in a specific business sector.

While some business consultants focus on specific industries, others adopt a more all-encompassing strategy.

They help with business planning, venture creation, and analyzing and optimizing company budgets.

Average Salary

Business consultants earn a median annual salary of $77,537

Roles and Responsibilities

• Ensures the overall business solution is positioned and implemented globally.

• Develop and update a high-level roadmap of business initiatives and goals.

• Modify programs to enhance the likelihood of meeting business goals.

Industries Employing Business Consultants

• Finance

• Marketing

• Human Resources.

Fundraisers and Development Officers

A fundraising and development officer is a professional who works with organizations and individuals to secure funding.

They work directly for an organization or are employed by a third-party firm specializing in this work.

Fundraising and development officers recognize potential donors, create relationships with them, and persuade them to make donations to the organization they represent.

Average Salary

Fundraisers and development officers earn a median annual salary of $55,971.

Roles and Responsibilities

• Solicit donations from prospective donors

• Promote the organization's mission and raise awareness of its work

• Track contributions and account for them following local regulations

• Investigate incoming donations to meet company standard

Industries Employing Fundraisers and Development Officers

• Non-profit organization

• Charity

• Institutions

E-Commerce Entrepreneur and Manager

Ecommerce managers create plans that address the aesthetics and usability of their businesses' online stores and digital platforms.

To make sure that existing frameworks aid in the creation of profit, they make executive decisions.

Average Salary

E-commerce entrepreneurs and managers earn a median annual salary of $65,194. 

Roles and Responsibilities

• Initiate and complete the selection process for customers' online orders.

• Help manage and control expenditures.

• Exceed customer expectations

• Prepare, and ship all orders within expected timeframes.

Industries Employing E-Commerce Entrepreneurs

• E-commerce

• Marketing

Business Developers

A Business Developer works as the tip of the spear in creating and driving business for an organization.

They generate new client business through networking and following up on proposals. They design and implement strategies for the client employing their company's assets to accommodate both parties best.

A Business Developer must have a degree from an accredited college in business or a related field.

Roles and Responsibilities

• Develop and improve proposals for existing and new clients

• Develop and provide pitches for potential investors

• Network with investors and other business partners to create new leads

• Perform market research

Industries Employing Business Developers

• E-commerce

• Insurance

• General Merchandise

• Sales

• Commercial

Business Strategist

An organization's long-term plans are developed and carried out by business strategists.

They collaborate with senior leadership to find opportunities, prioritize the most crucial ones, and create a strategy to reach these objectives.

They communicate with team members to strive for the same objective.

Average Salary

Business strategists earn a median annual salary of $98,980. 

Roles and Responsibilities

• Create marketing strategies and distribution channels to achieve business goals.

• Measure the success of business strategies through metrics

• Develop an organization's culture and corporate identity

Industries Employing Personal Business Strategists

• Government

• Management

• Manufacturing

• Human resources

Marketing Manager

Marketing managers help businesses to promote and sell their products to their customers.

They lead and influence how a brand looks and feels in the market.

Marketing managers attract more customers and raise brand awareness through marketing campaigns.

Average Salary

Marketing managers earn a median annual salary of $68,507

Roles and Responsibilities

• Create comprehensive budgets and cost estimates.

• Handle public relations and troubleshoot internal and external issues

• Conduct market research to understand the public interest and determine the marketability of products and services.

Industries Employing Marketing Managers

• Marketing

• E-commerce

• General Merchandise

Project Managers

A project manager oversees appointed projects for the company.

They plan and augment strategy, including establishing the goals and timeline for the project(s) they supervise.

The project manager coordinates, documents, and assigns duties to the project teams and manages project timelines.

Average Salary

Project managers earn a median annual salary of $76,370

Roles and Responsibilities

• Manage and communicate ongoing changes in tasks, goals, or performance.

• Manage project budget to reach revenue, cost, and profit targets.

• Participate in contract finalization and development of requirements and specifications.

Industries Employing Project Managers

• General Merchandise

• Manufacturing

• Construction

• Agency

• Insurance

Pros and Cons of Entrepreneurship Careers

With a degree in entrepreneurship, you can land high job demands or start your own business.

Here are a few pros and cons of a career in entrepreneurship

Pros

• Freedom

• Control

• Flexibility

• Create jobs for others

• Unlimited Financial Prospects

Cons

• Greater personal responsibility

• Potential financial risks

• Longer working hour

• Uncertain and irregular income

Skills You'll Develop While Studying Entrepreneurship

Here are specific skills you will need to be proficient in regardless of your role as an entrepreneur.

Work Ethic

Successful entrepreneurs are recognized for having a solid work ethic and the ability to attach to their goals, carrying out the everyday duties expected to reach and outperforming them consistently.

Amassing a business off the ground doesn't just oblige risk. It also needs someone willing to work incredibly long and hard hours. Having and indicating a solid work ethic is essential because it can help you quickly accomplish career goals.

A few primary elements of a strong work ethic are integrity, professionalism, respect for the work and fellow teammates, timeline, etc.

Leadership

As an entrepreneur, you need leadership skills to hire employees.

You must know how to communicate your vision, hire properly and disseminate the work needed.

As an entrepreneur, you will lead. Everything you do in your company, your employees will also replicate.

If you reinforce values in your activities, your employees will also add value to their actions.

You'll merge different people with different backgrounds, knowledge, skills, and experience in your business cause.

Communication

Every entrepreneur must be an effective communicator.

Whether you are a solo entrepreneur or run a big company, you must understand how to communicate effectively to all stakeholders and potential stakeholders that touch the business.

Entrepreneurs must communicate with customers, peers, employees, investors, creditors, and mentors.

If an entrepreneur cannot communicate the value of their company, it's improbable the company will be successful.

You also must master all forms of communication, including group conversations, written communication, online or email messages, in-person discussions, etc.

Decision Making

Nobody can argue that making decisions is a fundamental skill every entrepreneur needs to succeed.

You need to make wise choices regarding the type of business you want to start right at the start of your entrepreneurial career.

Following that, you must choose how to proceed with marketing, funding, product production (in some cases), vendor selection, and other factors.

Instead of avoiding decisions out of fear of making mistakes, the goal is to make decisions and learn from them.

Time Management

Consider time management as one of the hard skills needed by entrepreneurs.

When making essential and routine business decisions, time management aids in your fight against procrastination.

As an entrepreneur, you are a boss. Although it may sound thrilling, it also requires appropriately managing your resources (especially your time).

Being an entrepreneur can occasionally be chaotic. Your mind can be overloaded with numerous projects, plans, and business issues that need immediate attention.

Effective time management is essential to fulfill and maintain control over these expectations.

How to Prepare for an Entrepreneurship Career

1. Obtain a degree or certificate

Many entrepreneurs have not received official qualifications.

Obtaining a bachelor's or master's degree in business or a related subject is vital for those without former knowledge or experience in the industry.

They will help you develop the necessary abilities to be competitive in the business world and also assist you in better understanding how organizations function and operate.

You can decide to obtain your degree online as it gives you more flexibility to run a business or work within your industry while studying for your degree.

2. Research your industry

Even if you don't have any immediate plans to start a company in your field, you must regularly analyze the markets and competition you will encounter during your career.

That can help you develop a firm, distinguish yourself from other job seekers, and better understand the business world (which is necessary to utilize your skills).

You can study your industry by reading business magazines and publications regularly and following the stock market and other financial indicators.

3. Build your professional network

Building up your professional network can help ensure you have a robust support system before you embark on your business career path.

In addition to guaranteeing that you can learn about career prospects and positions as soon as you graduate, doing this will ensure that you can obtain immediate custom and swiftly build up your clientele when you launch your first firm.

Building your network will help you form partnerships and will enable you to locate mentors who can help you improve your business career as rapidly as possible and break into the sector.

4. Work for a renowned business.

Working for a well-known company is the only way you will be able to comprehend the business world fully and how it operates.

That will allow you to polish your skills in a real-world setting, observe how top business people who have a thorough understanding of business operate daily and practice your skills.

You will gain knowledge here that you will need in your firm or any other business you manage in the future.

Additionally, working for a well-known brand can be a deal-breaker if you apply for a business role.

Entrepreneurship Resources to Help Your Career

Entrepreneurial resources might include books explaining how to launch a profitable business and sophisticated software programs to simplify running a company.

Below are resources for entrepreneurs

Business plan resources:

• Business Model Canvas

Resources for starting a business website:

• Instant Domain Search

• WordPress

• LeanDomainSearch

Productivity resources:

• Todoist

• Everyone

• Calm

Writing resources:

• Hemingway Editor

• Grammarly

Learning resources:

• Udemy

• Coursera

• LinkedIn's Lynda

Project management resources:

• Click to

• Trello

Email marketing resources:

• ActiveCampaign

• Mailchimp

How to Switch to an Entrepreneurship Career

A successful entrepreneur needs business expertise and the necessary skills.

Prospective business owners can develop these skills by obtaining a degree and substantial professional experience.

Among the relevant colleges, majors are accounting, finance, communication, and computer engineering.

These degree holders frequently have the easiest time starting successful businesses.

By obtaining an MBA emphasizing entrepreneurship, professionals from various professions can also become entrepreneurs.

Some colleges that offer this degree waive the need for a bachelor's degree in a business-related field.

Frequently Asked Questions

What is Entrepreneurship?

Entrepreneurship is the act of starting a firm or business while accepting all the risks in the pursuit of financial gain.

But as a fundamental definition, it is somewhat constrained.

The more contemporary definition of entrepreneurship also emphasizes changing the world by developing novel solutions to complex issues, such as enacting social change or developing products that upend the way we live our daily lives.

Through entrepreneurship, individuals may take control of their careers and steer them in the desired way.

What certification do I need for an Entrepreneurship career?

Below are certifications that individuals may opt to establish a career as entrepreneur.

• Entrepreneurship Certification Courses

• Free Entrepreneurship Courses & Certifications

• Edx Entrepreneurship Courses & Certifications

• Swayam Entrepreneurship Courses & Certifications

• Coursera Entrepreneurship Courses & Certifications

• Futurelearn Entrepreneurship Courses & Certifications

• GetSmarter Entrepreneurship Courses & Certifications

• Emeritus Entrepreneurship Courses & Certifications

• TCS iON Entrepreneurship Courses & Certifications

• Udemy Entrepreneurship Courses & Certifications

These are just a few certifications needed for a career in entrepreneurship.

Can I get an Entrepreneurship degree online?

It is possible to earn an entrepreneurship degree online.

You can earn one from a highly recognized and authorized business program that you can complete at your pace.

An online degree in entrepreneurship teaches students business law, financial accounting, human resources and management, and how to create a business plan.

Graduates with entrepreneurial degrees are also qualified for careers in marketing.

What fields can Entrepreneurs work in?

Anyone with a degree in entrepreneurship can work anywhere, depending on their education, skill sets, and experience.

Lucrative opportunities exist in:

• Business Consulting

• E-commerce

• Fundraising and development

• Starting your business

• Venture developer

• Sales management

• Marketing

• Business management, etc.

Is there a high demand for Entrepreneurship majors?

Yes, there is high demand for entrepreneurship majors.

With your experience and degrees in entrepreneurship, you can own a business or manage one for another.

You can act as a business manager, retailer manager, business developer, business strategist, business consultant, sales manager, etc.

By one count, BLS projected that there were about 9.6 million self-employed workers in 2016---and projected to increase to 10.3 million by 2026.

Final Thoughts

The process of starting a business is risky.

Approximately 20% of small businesses fail in their first year, according to data from the Bureau of Labor Statistics, as reported by Fundera.

However, if you possess the necessary information, skills, and, most importantly, the quality of resilience, you can succeed as a business owner or an employee in entrepreneurship positions.

You will undoubtedly encounter obstacles, but if you have the proper perspective and comprehension, you can overcome them and succeed.

This guide will provide you with the necessary information you need to get started in entrepreneurship.