My Ups and Downs in Life as an Aspiring Entrepreneur

Introduction

A career that I am interested in pursuing is Entrepreneurship. An entrepreneur is a person who organizes and operates a business. Being an entrepreneur takes on greater than normal financial risks in order to do so. One day, I would like to own my own business and be a successful entrepreneur. I want to be an entrepreneur because I want to be my own boss. To be a successful entrepreneur is more than starting new adventures every other day. It means having the right attitude towards a business and the determination and courage to achieve success.

Successful entrepreneur always has a strong sense of self-confidence and a healthy opinion of their skills and abilities.

Body

Embracing Entrepreneurship

Educational requirements for entrepreneurs are nonspecific. Entrepreneurs don’t necessarily need to go to college. However, a strong business background can be helpful in securing financial support. It’s always better to have some type of education under your belt compared to those who don’t. To ensure that I am ahead of my game and that I am well organized, I will continue my education through college. First, I’ll need to go to a community college to get my Associate of Business Administration at a community college. Then, I’ll transfer to a business school to obtain my Bachelor of Business Administration degree.

In order to acquire my Business Administration Degree, I will attend Yuba College. Yuba College offers a Business Administration Program that makes it easy to transfer from a community college to a university. The expected classes I’m required to take are Principles of Accounting, Business Law, Elementary Economics, Introduction to Statistical Methods, Intro to Global Business, and Business Communications. General Education must be taken in addition to these requirements. The best way to reach Yuba College is by phone and email. Then, I will transfer to Hult International Business School. Hult offers a full-time Bachelor of Business Administration degree. Hult offers a choice of five majors: Management, Marketing, Entrepreneurship, Accounting, and Finance. I want to major in entrepreneurship. At Hult, you will be immersed in a global environment without even leaving campus, and every topic you study will be approached from a global point of view, from marketing to law to career planning. Throughout your undergraduate experience, you will be challenged to think creatively, be resourceful, and work together with your fellow students in our international and collaborative learning environment (hult.edu). This is just about developing the right approach, the right attitude, and the willingness to execute. I chose these schools because it is relatively close to my home. All students who are interested in attending Hult can call 415-869-2900. Their address is 1355 Sansome Street, San Francisco, CA.

The Path to Becoming an Entrepreneur

There’s not an accurate salary estimate for entrepreneurs, considering there’s a variety of different types of jobs an entrepreneur can have. However, on average, entrepreneurs typically make a yearly salary of $57,360. Salaries typically start from $10,400 and can make up to $129,200 (bizfluent.com). No matter what stage of self-employment you may be in, thinking about how to make your investments last in retirement should be a top priority. No matter if you have employees or not, everyone should have a retirement plan. If your company has less than 100 employees, you might consider a Simple Individual Retirement Account plan. Contributions are mostly done in the form of payroll deductions before the tax is paid. This plan requires both the employer and the employees to contribute some portion of their salary from each paycheck (marketwatch.com).

All entrepreneurs work different hours, depending on what they’re doing. We don’t have a set schedule; we have the control to make our own. Most entrepreneurs work an insane number of hours- probably about sixty hours a week! You don’t have to work those hours, though. You can work from 6 am-9 pm if you want to. It all depends on how much work you’re willing to put in. Even when entrepreneurs aren’t ‘on the clock,’ they’re still thinking about the business. Being an entrepreneur is an around-the-clock job. The same goes for vacation days. Entrepreneurs don’t get accumulated time for vacation. It’s always good to take one, though, because all those hours working need a break every once in a while. You should always have a backup plan for when you do take a vacation, though. For example, hire an assistant who can take care of your affairs while you’re away (forbes.com).

Projected growth is the rate at which something is expected to grow based on information already known. Overall employment of entrepreneurs is projected to grow about 8% from 2016 to 2026. Employment growth will vary by occupation and industry. It is largely dependent on the rate of industry growth. This means I have a fair chance of becoming an entrepreneur and building my own business.

The Journey of Ups and Downs

Like most jobs, entrepreneurship comes with its share of ups and downs. The most apparent advantage is the ability to be your own boss. You get to choose the work you like to do, and that makes the most of your strengths and skills. Entrepreneurship can be exciting, especially for those first starting out. Each day is filled with new opportunities. The schedule is also very flexible. They can work whenever they want, for as long as they want. In addition to these positives, as an entrepreneur, your income is directly related to your efforts and the success of your business. Now, as I said before, entrepreneurship has its ups and downs. Although making all the decisions can be a benefit, it also can be a burden. Being an entrepreneur comes with a lot of paperwork that can take up your time and energy. It’s also very competitive; you will need to be different from other companies out there in order to build a solid customer base and be profitable. Being an entrepreneur means giving up the security of a consistent paycheck. If business is slow, your income can be at risk. Finally, the work schedule is unpredictable. It requires more work and longer hours than being a typical employee.

Conclusion

In conclusion, this job would best fit me because I know I would be an excellent boss, and I can handle building my own business. I can see myself doing this for more than five years successfully. It won’t be easy, but I have what it takes.

References

1. “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” by Eric Ries 

2. “Zero to One: Notes on Startups, or How to Build the Future” by Peter Thiel 

3. “The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It” by Michael E. Gerber

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