An entrepreneur is often described as a risk-taker in regard to new business ventures. An entrepreneur may work alone to launch a new business or may partner with one or more other entrepreneurs or business professionals to launch a new product or service idea into the marketplace. To be successful an entrepreneur must be able to conduct research about the target market for their product or service know how to take a product or service to market via excellent marketing or advertising efforts and can achieve adequate funding for the launch of the new product or service – which sometimes involves obtaining investors. As careerplanning.about.com states “planning is everything” for an entrepreneur because brining a product or service to market when it is not completely ready or developed can be devastating both financially and emotionally for an entrepreneur. Bringing a new product or service to market when the timing is just right can mean huge financial success for an entrepreneur. Depending on the exact product or service it may be necessary for an entrepreneur to let go of or sell their business once it becomes successful. However this type of situation often provides the entrepreneur with a large amount of money which can then be used for future business ventures. The smartest and most successful entrepreneurs as www.Wisegeek.com says know when to leave the business that they started and move on to other things. There is no educational requirement for an entrepreneur although learning the ins and outs of the business world through an advanced formal education can help an entrepreneur develop and launch a product or service. Nevertheless the most important qualities of an entrepreneur are the ability to handle risks create new ideas and possess a high level of courage. Many entrepreneurs earn a modest income but the entrepreneurs who make it big can earn millions of dollars per year. Therefore it is difficult to determine an average yearly salary for an entrepreneur.
|Education Required:||High School Diploma|
|Tasks:||Researches business opportunities.
Finds individuals or businesses to finance a business idea.
Oversees the development of a new business.
Likes to be the boss of their own company.
|Also Called:||Business Owner
Independent Business Developer