What is Entrepreneurship?
Every business in existence was created by someone who was looking to fill a need. Sometimes the business is born out of necessity, other times, the enterprise is just an idea someone had that they thought others would appreciate. These business owners start their business and with hard work and dedication and they may turn them into successful entities that go on to help hundreds or thousands of people. There are CEOs and owners who proudly represent their company and are happy to do so in that capacity.
Then there are entrepreneurs. Entrepreneurs are geniuses when it comes to identifying market needs and trends and creating products and services to meet those needs. And for a while, they may even be happy to be the front person for that business. But entrepreneurs are different from traditional business owners in that, in general, they have little, if any, desire to run an actual business. The only business they want to run is the one that supports their passion, which is creating solutions to problems, and even then, they don’t tend to run day-to-day operations; that’s what their general manager does. Entrepreneurs are creatives and problem solvers. That’s their strength and talent, and that’s where they focus their time and attention. So, even if an entrepreneur has a business, they’re likely to set it up but leave the everyday running of it to someone else. If this sounds remotely like you, then a career as an entrepreneur might be a good option. The state of Nevada’s three largest industries are Entertainment, Real Estate, and Business and Professional Services. All three of these industries are ideal for entrepreneurs who can come up with new ways to solve problems. And these industries are all growing in the state at rates between 4 and 15 percent. So, there’s a good chance that any great idea you develop will have a market and, if you study the markets, you’ll identify needs that aren’t being met. This means now is a great time to get the education that will set you up as entrepreneur in Nevada.
Online Entrepreneurship Education in Nevada
Entrepreneurs are visionaries and, as such, they spend a lot of time researching and studying the industries that are of interest to them. By studying the industry, they learn how it functions or, more to the point, what prevents it from functioning better. Once that gap is discovered, an entrepreneur sets out to find a solution to the problem, whether that is a product or service they can offer to customers or other businesses.
Sometimes the entrepreneur does the work themselves and other times they put together a team to create the solution; sometimes it’s a combination of the two. Entrepreneurs work with investors and venture capitalists to gain the startup capital they need to create their solutions. An entrepreneur’s typical day is non-existent; one day they might be pitching their newest solution, the next they might be in their office brainstorming. There is no such things as a regular day as an entrepreneur, which is part of the appeal for many people.
Much of what an entrepreneur does comes naturally. In most cases, education attained for entrepreneurship is either in the chosen industry or just additional information on how to better execute what the entrepreneur already knows. Depending on the industry, the level of education can vary. Obviously, an entrepreneur in a technical or medical field is going to need quite a bit of education, while someone in a less demanding field might not need as much formal training. That said, a formal education adds credibility and gives the entrepreneur the added bonus of having the education to back up what they already know. Below are the most common online entrepreneurship program levels to obtain.
Online Associate Degree in Entrepreneurship (AS)
An online associate degree in entrepreneurship provides the baseline for an education in business. This is a good place for those who wish to be business owners to gain some business skills and write a business or marketing plan.
Courses in an associate degree program in Nevada might include:
- Business Law
Associate degrees generally take two years to complete, and they can help those who do not already own a business to gain the foundation they need to start a business of their own.
Online Bachelor's Degree in Entrepreneurship (BS)
An online bachelor’s degree in business is where many people who own businesses land educationally. It’s more education than a two-year degree but stops short of graduate level courses. For many entrepreneurs, this is enough education to gain credibility. Bachelor’s degrees usually take 4-6 years to complete, and students may study the following, as well as other pertinent or specialization courses.
- Business Ethics
- Public Speaking
- Writing and Composition
- Business Statistics
- Corporate Finance
- Managerial and Cost Accounting
- Quantitative Business Analysis
This is not an exhaustive list, of courses, but these are some of the courses that entrepreneurs will find particularly helpful when running their business.
Online Master's Degree in Entrepreneurship (MS)
For an entrepreneur, a master’s in business administration, aka an MBA, is excellent for increasing their status and credibility. Entrepreneurs are generally naturally business savvy but a graduate degree serves to back up what they already know. Of course, even the most brilliant entrepreneurs can also have knowledge gaps, and graduate courses can correct that issue. Some schools offer specialization in entrepreneurship, with courses that are specific to the needs of entrepreneurs. Graduate programs usually require one to three years of study, and either a comprehensive examination or capstone project is required to complete most programs.
Online PhD Degree in Entrepreneurship (PhD)
Most entrepreneurs are interested in knowing everything they can about their chosen industries, but past that higher education my not be of much use to them. Many famous entrepreneurs were college students who became bored with school and dropped out. However, for those who want to be considered subject matter experts or wish to work within the academic realm, obtaining a doctorate degree is something to be considered. These degrees take around 5 to 7 years to complete and those who wish to graduate usually must write a dissertation and it must be successfully defended.
Become an Entrepreneur in Nevada
Here’s the thing about becoming an entrepreneur. Entrepreneurs aren’t made or created, they are born. Much of what an entrepreneur does and makes them successful is natural ability. However, those natural abilities can be honed and trained and, when combined with an education in a specific industry, greatness can be achieved. So, the first step in becoming an entrepreneur is to find the industry on which to focus. Many entrepreneurs work in an industry for which they have a passion. In the case of Nevada, entertainment and real estate are two industries where jobs are plentiful and new ways of doing things are always welcome. So, for those who want to strike out on their own in Nevada, those areas are a good place to start.
Once you have chosen an industry in which to operate, you have to learn all you can about it. This means going to school and getting a professional education in that industry and then working in that industry for a time so that you understand how it operates. This is also a good time to take note of what works and what needs improvement. It’s the unfulfilled needs that will be the basis for your entrepreneurial career. But as an entrepreneur, you most likely already know this. As you work in the industry, the needs will jump out at you, and you’ll have to find solutions to those needs. Also, hopefully, while you are working in the industry you can gain a reputation as a problem solver and fixer. This will serve you well when you branch out on your own and you’re ready to pitch solutions to people. If people know you have a knack of making things work better, they will be more open to your ideas, even those that might have costly price tags attached.
Now, with your reputation, education, and experience (and a nest egg just in case) you are ready to strike out on your own as an entrepreneur in the industry of your choice. You might first approach a company that might benefit from a solution you’ve created that their companies and their competitors face and pitch the idea. If the company likes the idea, then offer to roll out the solution. If it’s a success, other companies will want to follow suit. Entrepreneurs may keep businesses under their control with a manager in charge, or they may choose to sell the company for a profit and begin a new venture. It all depends on what kind of entrepreneur you want to be.
It's worth noting that some entrepreneurs do actually start a business and stick with it. But when this happens, an entrepreneur becomes an intrapreneur, which is basically a business owner. But in most cases, the intrapreneur is still an entrepreneur in spirit but, instead of going out to find business, they draw business to them.
Potential Careers for Entrepreneurship Graduates
Entrepreneurs often work in other industries before their strike out on their own. Some gravitate toward sales, while others home in on helping fulfill needs that companies have. Below are some examples of careers an entrepreneur might hold before becoming their own bosses. It’s not uncommon for an entrepreneur to jump from one career to another, because they are curious by default and prefer to gather as much information and training as possible so that they have all the tools they need to help other companies. This is by no means an exhaustive list, but simply some of the more common careers entrepreneurs may gravitate to during their careers.
- Business Owner
A business owner is a person who starts an enterprise, perhaps because they recognized a need and set out to fill it or because they have a passion about something, like food. They are in charge of all aspects of the business, from ordering materials to production. Many businesses have employees and some of the tasks might be delegated to them, but there are also business owners who are the single employee. Business owners should have some knowledge of all parts of running a business and, where there are knowledge gaps, they find other professionals to fill those needs.
- Public Relations Manager
Entrepreneurs have a gift for gab, but they also have the ability to spin a situation to make an organization appear in a positive light. Public relations managers do this for organizations, either as an employee or on a freelance basis.
Valuation is another skill entrepreneurs need to have. They can study an object, company, etc. and determine the value and help other organizations decide if its worth the asking price or making an offer. Appraisers are used in a variety of industries, but real estate and and/entertainment are two of the most common.
- Social Media Manager
This is a profession in which being able to comfortably talk to people comes in handy. Social media managers are often the cyber face of a business. They are the contact person who provides information to all of a company’s social media accounts. They interact with customers, answering questions, promoting specials and sales, and keeping customers up to date with the company's activities, all the while maintaining the company brand. The approach a social media manager takes can be professional and factual, or it can be fun or even snarky. Wendy’s Twitter account, anyone?
Other careers an aspiring entrepreneur can consider also include:
- Web Developer
- Marketing Manager
- Sales Manager
- Systems Analyst
- Management Analyst
- Investment and Acquisition
- Business Owner
- Brand Manager
- Business Consultant
- Product/Product Development Manager