What is Entrepreneurship?
In New Hampshire, there are people working in every industry you can think of. The biggest industries are real estate, business/finance, and manufacturing, but other industries, such as education technology and healthcare, are also large job creators. New Hampshire is a unique state for several reasons. First off, the population of the state is just under 1.4 million, but the salary range for the workers in the state range from a low of $24,000 to a high of $420,000 annually. Of course, some industries pay better than others (technology pays more than retail), but there are still many industries that cater to positions that end up in the middle range, which means you can earn a decent income.
Entrepreneurs are visionaries. They have a knack for identifying areas in need of improvement and creating solutions for problems. At times, an entrepreneur is the only one who recognizes the issue or need actually exists. For that reason, they might also be considered visionaries.
But, if you are the kind of person who is less interested in helping a company fill its wallet while you work for what seems like pennies or you prefer to strike out on your own, then a career as an entrepreneur could be an option you might not have considered. Entrepreneurs work for themselves. They generally aren’t employees, but they may work as consultants while helping other companies solves some of their problems. They are independent thinkers and, therefore, don’t always make ideal employees. But, when left to their own devices, they can create magnificent results.
Online Entrepreneurship Education in New Hampshire
If you think you’re an entrepreneur in the making, we have provided some information about the profession below. Program options, how to break into the industry, as well as some jobs an entrepreneur can work while they are building their reputation as credible entrepreneurs.
Entrepreneurs often finance their own ideas early on in their careers, mainly because they are often the first and sometimes the only person who sees a need and it may be hard to get others to support their ideas. But, as the reputation of the entrepreneur grows, others are more willing to financially contribute. Eventually, the entrepreneur not only finds issues they can solve and gaps they can fill, but companies also seek them out to get their help finding solutions to their own problems or product and service gaps. This is how many entrepreneurs become reluctant business owners. Reluctantly, because, although entrepreneurs may love to consult with other businesses and do the problem solving, they may not have any real desire to run a business themselves. They are idea people and they thrive on implementing their ideas and bringing them to life. This is why many entrepreneurs sell their business after they grow it into something profitable. Entrepreneurs can be found in every industry. They do tend to find a niche for themselves, concentrating on industries that are of the most interest to them.
Entrepreneurs can find education at many levels. As with most things, the more education a person has, the more credible they are considered. However, successful entrepreneurs have proven track records, and that may or may not be related to their education level. Some entrepreneurs have degrees in business, while others are educated in their expert industry. Below are the degree levels an entrepreneur might pursue.
Online Associate Degree in Entrepreneurship (AS)
An online associate degree in entrepreneurship provides the baseline for an education in business. It is a good place for business owners to gain some business skills and write a business or marketing plan.
Courses in an associate degree program in New Hampshire might include:
- Business Law
Associate degrees generally take two years to complete. Those who do not already own a business could have the foundation needed to start a business of their own.
Online Bachelor's Degree in Entrepreneurship (BS)
An online bachelor’s degree in entrepreneurship 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. But for many entrepreneurs, this is enough education to gain the foundational knowledge they need and the credibility they are looking for.
Bachelor degrees usually take 4-6 year to complete, and students will study the following.
- Managerial and Cost Accounting
- Business Ethics
- Business Statistics
- Corporate Finance
- Quantitative Business Analysis
This is not an exhaustive list of courses, obviously, but they are 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 with a concentration in entrepreneurship, aka an MBA, is mainly earned for status and credibility. Entrepreneurs are generally naturally business savvy and this graduate degree serves to back up what they already know. Of course, even the most brilliant entrepreneurs can have knowledge gaps, and graduate courses can correct that issue, as well. Some schools offer a 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 the program.
Online PhD Degree in Entrepreneurship (PhD)
Most entrepreneurs are interested in knowing everything they can about their chosen industries, but beyond that higher education might actually bore them. Many entrepreneurs were college students who became bored with school and dropped out. However, for those who want to be considered subject matter experts in the academic realm, obtaining a doctorate degree is something they should consider. The degree takes 5 to 7 years and, to successfully complete the program, a dissertation must be written and successfully defended.
Become an Entrepreneur in New Hampshire
Here are some steps you can take to become an entrepreneur.
- Determine your passion:
Entrepreneurs tend to work in industries that interest them. The main reason for this is that, in order to identify needs in an industry and its markets, they have to understand it. And most people don’t go out of their way to get a deep understanding of things they aren’t interested in. So, pick an industry or business that you want to know as much about as possible, and start your career there.
- Learn everything You Can
In order to identify needs in the industry and market, you have to understand it. This means you should work in the industry from the entry-level and up. Working your way into a management or other leadership role is ideal because it allows you to see both the management and workers side of the business and industry. This might require you to attain a certain level of formal education, but it could be worth it for various reasons.
- Keep Your Eyes Open and Observe Everything
One of an entrepreneur’s strongest traits is observation. Entrepreneurs can evaluate people, situations, and processes and identify where there are issues. They can create solutions to problems because they see the issues and understand the industry and its work processes. But, this takes practice, so an aspiring entrepreneur needs to learn to see everything. For many entrepreneurs, this trait is inherent, but it can be honed and approved upon.
- Gather What You Have Learned and Create Solutions for the Problems
Once you have identified a known issue, you’ll need to create a solution. Then once you have the solution, you’ll need to convince people you’re correct. This is where your keen observation skills will come into play. You’ve studied the industry and you have observed the key players. At this point, knowing how to present your ideas is one of the most important skills you can have, and this can be the main place where education comes in and helps entrepreneurs become successful.
- Repeat the Process, Grow Your Reputation, and Enjoy Life as an Entrepreneur:
At some point, you’ll need to create a team. You might want to get an office manager while you’re at it unless you want to run the business yourself.
Careers for Entrepreneurship Graduates
- Business Owner
Entrepreneurs often start businesses because it makes them appear more professional, even if they are just a business of one. However, some entrepreneurs put together teams or think tanks to take on additional, or more complex, issues. In most cases, the entrepreneur owns the business, but the day-to-day operations are handled by an office manager. This frees up the entrepreneur to do what they love to do.
- Business Consultant
When entrepreneurs strike out on their own, it’s normally in the consultant capacity. They offer their services to other businesses and individuals who need their assistance. Business consultants gather information and use it, along with their own expertise, to make suggestions for their clients. Consultants are excellent communicators and can create solutions for those who need them.
- Investment and Acquisition
Successful entrepreneurs will often branch out into or get their start in investment and acquisition positions. After they have launched several successful businesses, entrepreneurs might choose to use some of their income or working capital to assist in funding other small businesses ventures. This could come in the form of angel investing or partial ownership of the business, or the entrepreneur might want to be involved in the launching of the business, either in a formal or advisory role. Or, they may get started in one of these positions and learn the ropes before going on to create a business in this or another field.
- Product/Product Development Manager
Product creation and development are at the center of an entrepreneur’s wheelhouse. They enjoy creating new products and services and growing the idea into a viable business. Product development managers are involved in all aspects of the development stage, from the concept to choosing materials and how product will be marketed to the public. They work closely with manufacturers to ensure the end product matches the original vision and make adjustments as necessary. Once the product is created and ready for distribution, the manager oversees this step as well, making sure the products land in the right hands. Product managers might also conduct surveys with customers to find out if any changes are necessary and that the proper target market is being reached.
- Social Media Marketing Manager
Have the gift of gab? Most entrepreneurs do. It’s how they often gain the insight and information they need to create new products of services, especially when it comes to their areas of expertise. Because of this, they can make excellent hype people and enthusiastic sellers. One area where they shine is on social media. Having an entrepreneur as a social media marketing manager means your posts will always be relevant and full of information and calls to action. They will relentlessly search for information that will make a business stand out from the rest. And they will engage with your customers and visitors to your page, which ultimately drives sales.