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Entrepreneur

colleges offer programs related to this career near Ashburn, VA

Career Overview

Inspired, driven entrepreneurs power new and innovative businesses around the world and often are responsible for the expansion of their respective economies. Entrepreneurship activity can range from an individual simply trying to start a business with a new idea, to a large-scale multi-million dollar investment where an executive is trying to add more to his repertoire. However, the key to becoming a successful entrepreneur is having a certain creativity or vision and then taking the necessary steps to accomplish it. Specialization in a certain industry or field is ideal in the beginning stages.The idea of entrepreneurship is that it is the process of building a new business by creating a business model and then acquiring the necessary resources to achieve that task. Often entrepreneurs need some capital to jumpstart their businesses so they must seek venture capital from potential investors. There are also certain organizations, such as specialized-government agencies, business incubators, and some NGO's, that function to serve entrepreneurs on their quest by providing them funding. The U.S. Small Business Administration (SBA) categorizes entrepreneurs as managers of a corporation, small company, or enterprise. This means being an entrepreneur usually is very independent or with a small team, and is in charge of which direction he wants to go, and what to use his resources for.

Salaries and Job Outlook*

2013 Median Annual Pay
Number of Jobs in 2013
Projected Growth Rate
National
$67,710
7,472,750
9.3 %
Virginia
$76,810
265,210
 

Education and Training

Degrees Required:
High School Diploma Bachelor's Degree Master of Business Administration M.B.A.

In order to start a business, there does not need to be a specific formal education level needed, but it is highly recommended to receive at least a bachelor's degree in a certain field, especially business, to get a grasp of fundamental economic ideas and business principles. There is technically no related work experience required to be an entrepreneur but gaining experience of the specific industry you want to create a business in can be helpful. Many entrepreneurs might find a M.B.A. very useful because it will give a vast amount of knowledge and skills about managing a business.

 
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Valued Traits & Abilities

Communication Skills
Creativity & Innovative
Decision-Making Skills
Proactiveness
Problem-Solving Skills

Work Environment

The work environment will mostly be based on the type of business you are planning to start or method of starting it. Most work environments will take place in office settings. As an entrepreneur you get a great deal of freedom on operating the way you want such as how much you need to work or who you want to appoint for certain positions.

* Source: BLS Data - 2013