- Careers & Salaries
- Entrepreneurs & Small Business Owners
As described in an AACSB International report, "entrepreneurship is about organization creation." For instance, an entrepreneur may see that an area of a market is not being served and there are opportunities for growth due to missing products or services. An entrepreneur designs a product or service to fulfill this need and creates a business around it.
Entrepreneurs should be very knowledgable about business. They should know how to analyze a market and spot potential opportunities. They also should be able to develop extensive business, financial, and strategic plans, as well as have marketing and sales skills. Basically, they should be able to start a business from the ground up. Entrepreneurs also are able to take risks. They know that not all business ideas will make it big, but what they do know is how to spot an opportunity that may turn into a successful and viable business model.
Small business owners may or may not have started a business on their own, but currently run a small entity. Small business owners also must be skilled in business due to the everyday challenges and demands that are placed upon them by rival competitors, employees, and customer expectations.
Average Entrepreneur & Small Business Owner Salaries
The most unique aspect of being an entrepreneur is that there is no limit to your earning potential. Your idea or startup may not make any money, or it could make millions of dollars. This can be an attractive, but also risky career path. However, often hard work and careful planning will pay greatly for entrepreneurs of all types.
Additional Resources for Entrepreneurs & Small Business Owners
A networking organization for growth entrepreneurs.
A helpful website and publication for future and current entrepreneurs.
A Kauffman Foundation website dedicated to entrepreneurship.