(CONTRIBUTED BY NEHA RAMANI)
Entrepreneurship is the study of those individuals in our economy who identify new products or service opportunities, and develop workable plans to capitalize on these opportunities. An entrepreneur is responsible for all aspects of their venture and will develop business plans, secure finances and resources, create marketing strategies, cultivate relationships, and is fully accountable for the success of their enterprise.
Skills & Abilities Of The Entrepreneurial Studies Major
• Management Skills – Ability to manage time and people (both oneself and others) successfully.
• Communication Skills-Ability to sell ideas and persuade others.
• Complex Problem Solving-Identifying complex problems and reviewing related information to develop and evaluate options, implement solutions.
• Competitiveness-Strive to outperform others.
• Critical Thinking- Using logic and reason to identify strengths and weakness of a plan.
• Maintain Relevant Knowledge- Keeping up-todate technically and applying new knowledge to job.
• Leadership-Effectively lead, take charge, and offer directions to others.
• Financial Literacy-Ability to budget, organize and mine data to produce balanced outcomes.
• Self-Motivated-Take initiative in creating and managing the enterprise created.
• Willingness To Take Risks-Ability to risk time, resources, and finances on a venture without knowing the outcomes.
Potential Careers
• Existing Family Business
• For- or Non-Profit Business Start-Up
• New Venture Development
• Consulting
• Product or Service Development
• Small Business Management
• Corporate Program Development
• Brand Manager
• President/CEO
• Finance Specialist
• Construction Management
• Medical and Health Care Management
• Sales Manager
• Lawyer
• Marketing Manager
• Sales Representative
• Public Relations Representative
• Organizational Leadership
Activities On The Job
• Develop a Business plan that describes ideas in detail.
• Brainstorm ideas with team members, effectively lead idea strategies from plan to implementation.
• Develop strategies, continuously, and alter those that produce highest levels of success.
• Research companies; know the market and how to be competitive with their product.
• Network extensively within a given industry.
• Take financial risks and/or persuade others to invest in the business.
• Persuade others to carry out their vision.
• Develop marketing strategies to effectively promote products/services to clientele.
• Take responsibility for all day-to-day operations (both successes and failures)
• Wear lots of hats and hire others that are willing to do the same.
Professional Organizations
• Entrepreneurs' Organization (EO): The Entrepreneurs' Organization (EO) is a global network working to enhance entrepreneurs’ abilities to be successful by learning and growing from each other’s knowledge and experience. http://www.eonetwork.org/
• Young Entrepreneur Council (YEC): peer-to-peer forums for 24/7 support, discounts on beneficial products and services, in-person events and an editorial team to assist you with content creation and distribution. http://yec.co/
• Young Presidents Organization: Joining the YPO affords you the opportunity to bounce ideas or seek advice from a global network on the YPO forums. The YPO also collects performance metrics and trends for quarterly reports, networking events, and roundtable discussions. http://www.ypo.org/
• The Entrepreneur Club: Does not require be a membership organization, but attending events or seminars a year gives you the chance to network, exchange ideas with peers, or sit-in on discussions surrounding the latest markets trends. http://www.tecglobal.org/
• Cintrifuse: Enables the building of high-growth companies providing connections to talent, funding, and customers. A one-stop resource for entrepreneurs with services targeted to high-growth, scalable, venture backed start-ups. http://www.cintrifuse.com/
• The Brandery: “The Brandery is a seed stage startup accelerator that leverages the expertise of the Cincinnati region, namely branding, marketing and design.” http://brandery.org/
The author is Career Counselor, Motivational Speaker, Writer And Presenter. Her Educational qualifications include PGT (Business Studies), M. Com , M.A. (Public Administration), M.A. (Economics), CMA (Inter) and B.Ed.)
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