Marg Career Library - Entrepreneur

Overview:

Entrepreneurship is the process of ideating, developing, and running a venture. These professionals are required to reach out to their potential customers and offer solutions to their existing problems. They need immense motivation and confidence to persevere in this field beyond the initial struggles of entrepreneurship. They also require a diverse skill set, including financial, social media, communication, business and many other skills. Entrepreneurs own and run their venture usually with a team of professionals working under their guidance. They are often required to take risks and should be ready to accept them if they fail.

Career Path:

Stream of Study at 12th:	Students who wish to become entrepreneurs can opt for any stream at the 12th level. After 10th, students can also pursue Certificate and Diploma courses in Entrepreneurship Development, Family Business Management and Entrepreneurship, Entrepreneurship Process and Behaviour, Entrepreneurship, Women Entrepreneurs, Entrepreneurship Management and related courses.
Degree/Graduation Courses:	Pursue Bachelor of Business Administration (BBA) in Entrepreneurship for 3 years Pursue Bachelor of Business Administration (BBA) for 3 years Pursue Bachelor of Business Management (BBM) for 3 years Pursue Bachelor of Business Studies (BBS) for 3 years Pursue Bachelor of Management Studies (BMS) for 3 years Pursue any undergraduate degree based on their idea for entrepreneurship Students can complete internships or work as assistants to professionals in the field to gain more experience
Higher education/After Graduation Courses:	Pursue Masters of Business Administration (MBA) for 2 years Pursue Master of Business Administration (MBA) in Entrepreneurship for 2 years Pursue Masters of Business Administration (MBA) in Social Entrepreneurship for 2 years Pursue Master of Business Administration (MBA) in Family Business Management for 2 years Pursue Masters of Business Management (MBM) for 2 years Pursue Masters of Applied Management (MAM) for 2 years Pursue M.A. in Social Entrepreneurship for 2 years Pursue M.A. in Social Innovation and Entrepreneurship for 2 years Pursue M.Sc. in Innovation and Entrepreneurship for 2 years Pursue PG Diploma in Entrepreneurial Management for 1 year Pursue PG Diploma in Entrepreneurship for 1 year Pursue PG Diploma in Management for 1 to 2 years Pursue PG Program in Management for 2 years

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Top Colleges:

Indian Institute of Management (IIM)
Indian School of Business, Kolkata
National Institute for Entrepreneurship & Small Business Development, Delhi
Xavier Institute of Management and Entrepreneurship, Bangalore
Entrepreneurship Development Institute of India (EDI), Ahmedabad
KIIT School of Management, Bhubaneswar
XLRI, Jamshedpur
S.P. Jain Institute of Management & Research, Mumbai
Narsee Monjee Institute of Management Studies, Mumbai

Job Opportunities:

Finance and Accounting sector
Advertising, Marketing and Sales sector
Event Management industry
Food industry
Healthcare and wellness industry
E-commerce industry
Social Media platforms
Technology industry
Media sector
Publishing industry
Building, Maintenance & Repairing Services

Job Responsibilities:

Conducting research and choosing the idea for a potential venture
Developing innovative solutions or strategies to deal with the problems faced by the target audience
Getting the venture started
Obtaining and setting up an office space
Registering the venture officially
Securing the required permissions/licenses to start and/or run the venture
Selecting and hiring a team of professionals
Outlining the work, timings, and routine of a typical day
Operating the venture on a day-to-day basis
Meeting and collaborating with mentors, customers, investors, and other stakeholders
Identifying and seizing opportunities to promote the venture

Work Life:

An entrepreneur generally works from an office setup which could be at their house or an office space
They are required to travel regularly to meet and collaborate with other professionals and government officials
Their work timings can be full time or part-time based on the amount of work they want to put in
These professionals may work on weekdays, weekends, and/or holidays based on the need
They are the first ones to be present and the last ones to leave the office and put in around 10 hours per day
Being an entrepreneur also entails a lot of pressure to meet deadlines, coordinate the team, attending/conducting meetings, etc.

Key Skills:

Business skills
Initiative
Networking skills
Leadership skills
Team management skills
Confidence
Determination
Communication skills
Ability to take risks
Problem-solving skills

Designation:

Entry-level

Business Entrepreneur, Social Entrepreneur, Small Business Owner

Mid-level

Lifestyle Entrepreneur, Business Reporters, Sales Manager, New Venture Developers

High-level

Serial Entrepreneur, Business Consultant, Fundraising and Development Officer, Teaching Faculty

Merits & Demerits:

Merits

1. You will be your own boss, setting work timings, amount of work to be done, deadlines, etc.
2. This will be an opportunity to bring your ideas into reality
3. It encourages creativity and promotes satisfaction as your venture grows
4. You will be able to generate employment opportunities and support many individuals/families

Demerits

1. The initial years can be highly challenging in terms of growth, personal motivation, financial requirements, etc.
2. Work hours can be exhausting as you are responsible for completing the work on time
3. Work-life balance can be a challenge when you want to invest yourself in the venture completely
4. The growth and/or success of the venture is not guaranteed

Overview
Career Path
Top Colleges
Job Opportunities
Job Responsibilities
Work Life
Key Skills
Designation
Merits & Demerits

Entrepreneur

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