“Entrepreneurship is living a few years of your life like most people won't so you can spend the rest of your life like most people can't.”
- Warren G. Tracy’s student
Elon Musk, Steve Jobs, and Mukesh Ambani are real living examples of the above quote, legends of their time, and a few of the greatest Entrepreneurs of the world. These are a few examples of people in entrepreneurship. Before going into details let’s understand what Entrepreneurship is.
It’s normal to think of entrepreneurship in terms of having an original idea. However, Entrepreneurship does not have to be based on an original idea but rather on coming up with a solution to something with a new perspective.
What is Entrepreneurship?
Entrepreneurship is defined as the concept of developing and management of business ventures to gain profit. However, in the modern world, it is emerging as an ability to solve problems, take challenges, and willingness to work for oneself.
Starting a new business is the most prominent form of Entrepreneurship. As business ventures are fast-growing, a rate of return and the minimum investment is required. However, there are different types of entrepreneurship depending on nature.
Entrepreneurship as Career
According to research as by 2020, there were almost 582 million entrepreneurs in the world with 90% of new American self-made billionaires. Additionally, the young generation believes it to be a good career. Although 20% of the businesses fail in the first year. Also, the study revealed that middlemen are the most successful entrepreneurs.
If you are thinking to start your own business, there are chances that you can be among these people who enjoy the privileges of entrepreneurship. Take the risk, and learn from your failure.
What is an Entrepreneurial degree?
Entrepreneurial degree courses are designed to teach you how to start a new business venture. These courses work on leadership skills, marketing, negotiation, and innovative thinking. If you are wanted to start your own business or work on an existing business, a bachelor’s degree in entrepreneurship is the right program for you. It can lead to entry roles in business, marketing, finance, sales, human resource, and management which is required to gain experience to start a company. These courses include approximately 120 credits.
Entrepreneurship isn’t easy, it takes years of experience, hard work, a hectic schedule, and commitment. Meanwhile, if you are not going for any degree course, online free platforms and entrepreneurs are the best sources of knowledge. YouTube is the best platform where you can find content, information, motivation, and skills learning from entrepreneurs themselves.
For example, Gary Vaynerchuk is one of the best motivating entrepreneurs who speak about everything in business. From digital marketing to social media as well as hardships through the journey. Similarly, several entrepreneurs connect to their audience through online platforms providing real-life examples.
Entrepreneurship Online Course
If anyone wanted to start a business, it is not necessary to have a business degree or Certificate. However, knowledge of the emerging changes and technology will be an addition, if you wanted to start a business. Especially, in this era of social media where free platforms are available for advertising and promotion of your product and services. One would not let go of the opportunity. Here are a few online certificates that can benefit you in entrepreneurship
Online Entrepreneurship certificate online by Harvard University
These are the top courses availed by millions of people around the world. You can access it anytime from anywhere, and have the best course. A few courses include;
- Entrepreneurship in Emerging Economies
- Technology Entrepreneurship: Lab to Market
- The Consultant’s Toolkit
- Entrepreneurship Essentials
- CORe
Entrepreneurship Courses by Coursera
One of the best things about Coursera (Online Learning Platform) is that it offers free courses, and also a financial assistant on some courses. If you are someone needed a certificate and cannot afford to pay, you can apply for financial assistance. A few courses offered by course include:
- Entrepreneurship ( University of Pennsylvania)
- English for business and Entrepreneurship
- Design Thinking for Innovation
- Brand Management, aligning Business, Brand, and Behavior
- Digital Product Management
You can also explore Harvard and Coursera Degree courses on entrepreneurship online, as well as offline classes.
Frequent Myths about Entrepreneurship
Here are a few myths about Entrepreneurship that are not true.
You need money to start your business
You don’t have to be rich to start your business venture. That’s not always true. There are examples of self-made millionaires who started without any kind of support. Jan Koum, Howard Schultz, Ophrah Winfrey, Ralph Lauren, Sophia Amoruso, and many more entrepreneurs started with nothing or very little investment.
Entrepreneurs are born, not made
The statement ‘’ Entrepreneurs are born, not made, ‘’ is a largely unexamined statement. It is not true, the only thing about Entrepreneurs is they know how to apply their traits, and there is no one-man show. Entrepreneurs know how to use resources to build a successful business.
Anyone can start a business, just a matter of luck
‘’ The harder I work, the luckier I get’’ that’s the answer to this myth. It all depends on how smart and hard work you put into your business learning. Bill Gates didn’t achieve everything because he was lucky, but because he is smart and follows daily habits such as reading, writing, engaging in innovative ideas, and is committed to the job which makes him successful.
Entrepreneurs are gamblers
Many people view entrepreneurship as ‘’ gambling’’ based on a bunch of ideas. However, the major difference between gamblers and entrepreneurs is the level of risk and action. Gamblers take instant action without calculated risk, however, entrepreneurs put a lot of effort, and long haul into understanding, and analyzing the risk involved in the business.
Entrepreneurs run the whole show themselves
Entrepreneurs may start as single people, but as their ventures grow, they build a successful team for their organization. In the book ‘’ Empathizing with the Ego of the Entrepreneurs,’’
Rober Frith suggested that the one key skill required for successful entrepreneurs is ‘’ to have a great team around you’’. Mark Zuckerberg doesn’t do everything himself, he has a team of engineers, tech persons, a human resource managing team, and an innovative and design-thinking team. Similarly, famous entrepreneurs have the most creative, innovative, and smart teams to assist them in their businesses.
Business is risky and ends in failure
Tell me one thing, would you stop going out because you might get into an accident? Obviously no, the risk is everywhere, in your studies, you might fail, and you may not be able to complete your studies. Talking about business, and saying it fails is not true. If every business has failed, then the world would have died of hunger.
However, one must take action based on realistic goals, and actions. Not based on vague assumptions that end up in failure. Even though, if you fail to try any business, there are thousands of things that you learn in trying.
Therefore, never let these myths take over your passion and commitment.
Start-ups are for young and energetic people
If you firmly believe the myth ‘’ start-ups are for young people’’, start reading the book ‘’ Never too old to get rick ‘’ by Kerry Hannon. He has compiled 20 successful older entrepreneurs that might change your approach and thinking.
Martha Steward an American businesswoman was in her mid-thirties when she started her first carting business. Famous fashion designer Vera Wang started her career as a professional designer at the age of 39. Reid Hoffman founded LinkedIn at the age of 35.
What about the famous fast-food chain Moguls Ray Kroc and Colonel Sanders who started the chain of hamburgers at 51? It’s all about ‘’ Will power’’ and ‘’ determination’’ that led these people to have successful careers and businesses.
You need to be an expert
In this era of Freelancing and digital technology, most people hire others to do their work. It is not necessary to be an expert in something to start a business. You can be an owner, and run the business through a team. Even qualification doesn’t work. If you wanted to start your own business, you must have leadership qualities and know-how to manage the team.
You need a great idea to be successful
Millions of people around the globe, and every day, someone has a new idea, but how many of them implement those ideas and take action? Hardly few, because having a great idea isn’t something great, but only taking action.
It’s a myth to have a great idea to be a successful entrepreneur. Every business venture is inspired by the ideas that have been implemented previously but didn’t turn out to be successful.
Immediate Success
One of the most common myths, and also stereotypes is that in business you get immediate success. It’s not true. For a business venture, one must show patience and consistency. Entrepreneurs put in more effort than any other person, and it takes years and years to build businesses. It’s not something that pays off within a month like a salary you get after a month or a wage for someone's work. Sometimes, entrepreneurs spend two to three years not getting back anything in terms of finance.
Keytake aways
Entrepreneurship is worth spending time on, it gives a sense of independence and passion. If you are looking forward to being an entrepreneur, start building skills today, read books, interact with different entrepreneurs, share ideas and get feedback.
Wish you the very best of luck with your new venture,
Stay with us for more inspiring stories of famous entrepreneurs in the world, who will inspire you to work on your venture.
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