Entrepreneurs are people who start new businesses and test out their business ideas and put it to work in a competitive economy. Inherently, they need to take on the risk associated with the new business. Correspondingly, they also reap the rewards if the business is successful.
Diploma and Degree in Entrepreneurship
Before starting a business, you may want to consider taking up a diploma or degree course in entrepreneurship. The course will expose you to basic business and management concepts that will be helpful when you start your business in the future. A typical entrepreneur course in college or university teaches students the following knowledge:
- Preparation of a Business Plan
- Analysis of business problems and problems-solving methods
- Formulation and implementation of business strategies
- Understanding the business environment and how it affects the business
- Sales and marketing
- Human resource management
- Basic Accounting Knowledge
- Communication skills
Is the course suitable for you?
The job of entrepreneur is not for everyone. You need to be hard-working, smart, creative, risk-taker and sociable. You need to have initiative, motivation and drive. Several traits and attitudes that make a successful entrepreneur are:
- Perseverance – unwilling to give up easily despite encountering setbacks or failures
- Desire and willingness to take initiative
- Highly competitive
- Self-reliance and confident
- Willing to work long hours and make necessary sacrifices
A graduate with a diploma or degree in entrepreneurship can choose to work for others or be in business for themselves.
Most graduates begin by working for others. It is always a good idea to work for others first to “learn the ropes” i.e. gain experience and learn the day to day operations of a real business. Upon gathering enough practical knowledge and network, some graduates will set up their own businesses. Some graduates work in his or her family business and apply the knowledge learned from the course to expand the family business.
Alternatively, you can also choose NOT to start a business but remain in employment. Many existing companies require employees with entrepreneurship qualification to work as project manager, business planning consultant, business development manager, etc.