The Prepped Team
August 18, 2020
There is a long list of responsibilities that come with being a successful business owner, and you need to be ready for it. Not only do you need to be knowledgeable of the specific industry you’re involved in, but you’ll also need to learn multiple skills in order to get your business off the ground. But what does it really take to have a successful career in business? What are the opportunities available, and what kind of income can you expect to make? Here’s another thing to think about: what if you don’t want to be a business owner? Is there a way for you to bring value to a business in a way that’s separate from an employee? The answer is yes, and we’ll discuss how that’s possible.
Being in business is just as much about soft skills as it is about understanding the technical aspects. You’ll need to know how to manage people, personalities, along with understanding nuances like how to network. Consider these soft skills as essential to being in business:
There are different routes you can take to get into the business world. Your base of knowledge is what will eventually sprout into the field you wish to pursue, but you can be more flexible than you may think when it comes to educating yourself for a career as a business owner. Consider these courses and degrees for a business career:
Career tip: Interested in pursuing a career in Marketing? Check out CMA NXT, an online resource for up and coming marketers! They have resources available free of charge to help you start your career in Marketing
You don’t have to start as an entrepreneur right out of college. You can find the right company where you have the opportunity to learn and grow. This list outlines starting salaries for positions that are aligned with entrepreneurship:
The very hard truth is that not everyone is built to be a business owner. Not in the traditional sense of running the day-to-day operations of being a CEO (Chief Executive Officer) and navigating the ship. What you can do is offer your knowledge, skills and expertise in a manner that would provide value to a business looking to grow. How can you do that?
Being a business consultant means you provide strategies for businesses to succeed. You don’t own that business, but you’re working directly with the decision-makers in formulating systems and strategies that lead to positive outcomes. Organizations like Deloitte specialize in these kinds of services. You get the rush of helping to lead a business without the full-commitment.
If you’re ever looking for a crash course on what it means to run a business, try being an EA for a year or two. You’re the right hand of the executives of the company and are privy to all of their communication. You understand their deadlines, know who they meet and what needs to be done, along with the stress they endure to make sure things run smoothly. Being an EA is a great way to get insights into the business that just aren’t possible in any other position.
Businesses can’t accomplish their goals without proper money management. As a CFO, that responsibility falls on your shoulders, and it’s a heavy load to bear. Financial decisions are often what makes or breaks a business. Where and how they invest their money, the partnerships they build and the general outlook of the company’s future are all within the scope of being a CFO.
Becoming a business owner is one of those things you need to try before you fully understand if it’s something you truly want to do. This is when interning and volunteering become so important. If you want to know what the day-to-day is like as a business owner, apply for an intern at a small business and let the owner know your intentions. Better yet, one of your mentors should be a business owner. That way, you get full insight into the process, strategies and responsibilities of an owner.
Check out these resources to help get you started:
Along with these resources, don’t forget to keep investing in yourself. Outside of formal education, look for online courses that can give you some of the training you’ll need to succeed in the ways we’ve described above. Skillshare and Study.com are great places to start.
Our entrepreneur plan summer contest ends on August 31, 2020. Contestants have a chance to win the perfect entrepreneurial starter package! Log in to your Prepped account and complete the exclusive entrepreneurial plans under the My Plan section. Every goal you complete enters you into a draw for a chance to win* the following six prizes:Grand Prize:
+4 separate prizes to win a business incorporation from Ownr