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An Entrepreneur is, simply put, someone who does business for him/herself. There certainly can be great risks associated with being an entrepreneur, but the payoffs can be limitless. Doing business for yourself means creating your own work schedule, and navigating your own business model, creating as you go. But most successful entrepreneurs will tell you that they worked harder and longer hours working for themselves than they ever worked for anyone else. That’s because they’re in it for themselves. It can be a make-it or break-it world. Meaning, if you don’t work, you don’t make money. And it’s not just about working hard… you have to know HOW to work. Have you heard the expression, “work smart, not hard”? it’s a true statement. A business owner must know how to organize, where to outsource and what to invest in. There are some critical skills that must be obtained before jumping into this career. Business school is the perfect place to start.
Why an Entrepreneurship MBA
Getting a degree in Entrepreneurship will teach more than how to work for yourself. Top entrepreneurship programs will teach you a great skillset that could also be applied to work in corporate management, finance, and a myriad of other business careers. Entrepreneurship classes should include project management, new venture management, technology, investing in new venture, consulting, social entrepreneurship, corporate entrepreneurship, and other special topics.
Startup Business Ideas for Entrepreneurs
The best startup ideas are generally those that you can START without a large investment. Start by utilizing your resources and understanding your market. Many successful entrepreneurs have broken away from a field that they’re well-versed in because they’ve noticed an untapped market that could work well on a private sector. This often creates an advantageous position for the business owner in terms of networking. Expanding a client base is certainly more simple than starting one from scratch. Whether you’re considering a startup from scratch, or breaking off from your current industry to do your own thing, make certain that you understand the industry well. Here’s a list of a few ‘best startup ideas’ in terms of cost and demand:
- Consulting – If you’re considering consulting as a private business, you should definitely know what field this will encompass. A consultant is an expert in a certain field and chances are, if you’re an expert, you know it and you’ve had LOTS of experience. Being an independent consultant can be a relatively cheap startup, with most of your overhead going toward advertising. In the instance of working as a private consultant, you’re being paid for your time, not a product. Before you open shop, first consider whether you’re qualified, what certifications you might need, and whether you have the network base to really make this fly. It’s a great concept if you said yes to all three.
- Elder Care – with the baby boomers’ coming of age, there is now (and will continue to be) an increase in demand for home health businesses. We’re not talking about medical care here. There is a demand for in-home, non medical care for the elderly. Taking them to appointments, making meals, organizing, and so on. This is something you’ll definitely need a liability bond for. And networking is quintessential (contact your local elder care facilities to begin network).
- Service Businesses – These are relatively low cost startups because you’re being paid for your time, not a product. Some ideas include mobile locksmith, housekeeping, pet grooming, personal organization, tutor, pet sitter, personal trainer, personal chef, car inspection, repair service, ect. In businesses such as these, good marketing and networking proves to be the key determining factor for success. Once you’ve worked yourself tirelessly and created enough of a client base to hire an employee or independent contractor, you’ll find yourself expanding. Little by little, you can continue to grow your company.
- Internet Business Ideas – There are plenty of ways to make money online. From writing your own blog and getting paid by advertisers to creating an ecommerce store… internet businesses can be a great way to make money without a great deal of startup fees. Expect to have some initial costs in setting up your website
Where to get an entrepreneurship degree
There are over 200 schools in the nation that offer Entrepreneurship as a degree program, many of those schools also offer online entrepreneurship programs. Some of the schools worth mention. While you don’t need a degree in entrepreneurship in order to work for yourself, schooling will help you understand that ins and outs of doing business, teach you how to plan and organizing, and a myriad of other skills to help you become successful in starting a business.
- San Diego State University
- University of Southern California
- New York University
- University of Arizona
- University of California Berkley
- University of California Riverside
- University of Chicago
- Universtiy of Dayton
- University of Denver
- University of Hartford
- Universtiy of Hawaii
- University of Houston (Marketing and Entrepreneurship
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