What is Entrepreneurship?
An Entrepreneur is someone who is commonly seen as an innovator or a source of new ideas, goods or services.
The process of setting up a business is known as entrepreneurship. Entrepreneurship is the act of creating, launching and running a business or businesses while building and scaling it to generate a profit.
Entrepreneurship is important, as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs but also for related businesses. Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed. Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market.
What 3rd level courses are available?
Universities and colleges in Ireland are offering Entrepreneurship courses in the following subject areas:
- Entrepreneurship – Gain a full understanding of how to build your team, market and scale your business, and develop and grow it through funding.
- Diploma in Entrepreneurship –Gain the knowledge, skill and competence in advanced theories and concepts of entrepreneurship.
- Applied Entrepreneurship – Gain the knowledge of the transferable skills required for business, either as an employee or an entrepreneur.
- MBS in Entrepreneurship and Marketing – The study of the theory, practice and research capability for employment in both specialist and non-specialist roles across a broad range of industry sectors.
- Business Innovation Technology & Entrepreneurship – Develop the skills and knowledge in entrepreneurship and innovation, marketing, strategy, project management, finance, data analytics and management.
- B.Sc. (Hons) in Engineering Entrepreneurship – The study of core engineering skills and recognising and pursuing business opportunities.
- Digital Entrepreneurship – Gain an understanding of the benefits of adopting digital strategies and how to get the latest data and insights on consumer behaviours.
- Master of Business: Digital Entrepreneurship – Learn how to work on a business concept, interrogate its business model, and test its validity in the marketplace.
Studying Entrepreneurship in college
There are many Entrepreneurship courses that take place over 1 year to 4 years depending on the course and modules selected. There are also part-time courses and night courses available so you can be sure to fit in your studies no matter what your schedule is like.
Courses will cover theory work through lectures, assignments, tutorials and taught modules. Assessments will take place on a continuous basis with written examinations and practical assignments combined in order to achieve a qualification.
You could also consider work experience or volunteering to help with the business side of charities and fundraising for a look into the world of entrepreneurship and business management.
Work Experience will not only give you the opportunity to obtain a deeper knowledge and understanding of the industry, it will also give you a chance to do some essential networking with other industry professionals and gain valuable contacts for the future.
Career options
After completing a course in Entrepreneurship you will be able to get started in a career that may use knowledge of business management, finances and marketing. Entrepreneur’s ideas often grow from their qualifications, skills, interests or personal circumstances, and are usually formed in response to market opportunities.
However, while all entrepreneurs require an inventive mind in order to identify trends and possibilities, not all entrepreneurs create completely new products. For example a product’s inventor may work alongside an entrepreneurial individual who can help to market their product and create a successful business, so it is important to network and make contacts that may open up opportunities at any time.
Working hours as an entrepreneur will depend on the type of work you do and the industry you are in. As a business owner, you will be able to set your own work hours, but in reality, you will likely work longer hours than if you worked for someone else and will put in extra hours over the weekends and evenings as your business will be your passion which will drive you.
Similarly, the office environment will be completely up to you – you may work from home or work from a shared workspace, the decision is completely up to you. Just one of the many benefits of working for yourself.
Related jobs include:
- Entrepreneur
- Small Business Owner
- E-commerce Entrepreneur
- Business Owner
- Social media manager
- Public relations manager
- Web developer
- Sales manager
- Business Developer
- Advertising, Marketing, and Public Relations
- Designer
- Real Estate
- Account Executive
- Consultant
- Product Manager
Further study
After completing a course in Entrepreneurship you may choose to pursue further study in a specialist field to increase your knowledge base and skillset. Postgraduate study can also be used as a means to change career focus or to gain professional qualifications required to practise in certain career areas such as Advertising, Marketing, and Public Relations, Business Development, Design, E-commerce and Social Media, Management or Real Estate where you could start your own company.
FAQ
What are some advantages of Entrepreneurship and being your own boss?
- Be your own boss
- Choose your own team
- Creative freedom
- Excellent learning experience
- Flexible Schedule
- Following your own vision or cause
- Greater potential profit
- Set your own office etiquette and design
- No need to worry about vertical mobility within the business.
- Develop an inspiring work culture
What are some disadvantages of Entrepreneurship and being your own boss?
- You will have multiple roles and responsibilities
- Work-life balance can be very challenging to maintain
- You will need to keep yourself motivated
- It can be high risk to start a new business
- To start you may have very few business connections
- Building a reputation from nothing
- Legal considerations and financial aspects of running a business can be overwhelming at first
- Leadership and management of people can be very difficult if you have not experienced this before
- Starting out, a new business won’t have all the amenities and supplies that larger companies already have
- Fewer benefits, entrepreneurs will likely not be able to offer healthcare plans or discounted gym memberships early in the business’s life. Lack of benefits may turn a few potential customers and employees away.
Where can I study Entrepreneurship?
Explore your options here
Did You Know?
- The most entrepreneurial countries per capita are Uganda 28.1%, Thailand 16.7%, Brazil 13.8%, Cameroon 13.7% and Vietnam 13.3%. There are no developed countries in the top 25 most entrepreneurial countries, likely because in developing countries people tend to see more opportunities to start a venture than in developed countries.
- Over 80% of businesses fail because of poor cash management.
- Almost 20% of self-employed professionals work in the construction or trades field.
- 69% of entrepreneurs started their business from home.
- The average number of businesses started by an entrepreneur is two.
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