Entrepreneurship may be a big word that is somewhat difficult to say, but mastering the concept is essential for the self-motivated, independent individual who wants to run his or her own business. The majority of privately owned, mom & pop businesses ultimately “fail”; that is, they may enjoy a measure of success for a number of years while the original owner is in charge, but unless well managed and developed into an operation based on solid business principles, the business usually will not be carried on when the original owner dies or retires. Even worse, most small businesses started to day will not survive even five years. You can change those odds in your favor by earning a degree through one of several online entrepreneurship education programs. read more »
The MBA in nearly any business field is available through online education study. Before selecting your degree program, we suggest that you check out the entrepreneurship course syllabi at several of the online universities in our data base. Since nearly all of your study is likely to be completed over the internet, it will probably also be useful to look at the entrepreneurship curriculum maps which will show you not only the required course, but also the pre-requisites, required sequence—if any—and the relationship of one course to another. Many online programs also use a technology called “Web-lab” or “Webwalk” which is simply a way of utilizing actual business tools and information for hands-on exposure to the field you are studying.
Are you interested in having your own business but unsure of your own ability to make it successful? Ask yourself if you have characteristics of persistence, creativity, organization, dedication, and the ability to think rationally and without emotion when under intense pressure. Having your own business is very different from punching someone else’s time clock and taking home a paycheck. No one is responsible for your success or failure other than you, yourself. You need to be cognizant of the fact that even the best run small business can be a roller-coaster as there will always be economic factors beyond your control. You need to be able to adapt, update, meet changing needs of your customers and your community, be considerate of the needs of your own employees, and be willing to spend more of yourself and your time than you would when working for a traditional employer. If you can handle that without burning yourself out, entrepreneurship can indeed bring you years of reward.
How much money can you make? Obviously, it depends on the business, the competition, and on your ability to operate successfully in the long term. Striking out and hoping for the best in today’s market is probably a recipe for failure in spite of stimulus bill incentives for small businesses. Do it right and get an MBA in innovative entrepreneurship and you will increases your chances of success.