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Become An Entrepreneur

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Working As An Entrepreneur

  • Making Decisions and Solving Problems
  • Communicating with Supervisors, Peers, or Subordinates
  • Getting Information
  • Coordinating the Work and Activities of Others
  • Guiding, Directing, and Motivating Subordinates
  • Deal with People

  • Make Decisions

  • Stressful

  • $90,000

    Average Salary

What Does An Entrepreneur Do

Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations.

Duties

Top executives typically do the following:

  • Establish and carry out departmental or organizational goals, policies, and procedures
  • Direct and oversee an organization’s financial and budgetary activities
  • Manage general activities related to making products and providing services
  • Consult with other executives, staff, and board members about general operations
  • Negotiate or approve contracts and agreements
  • Appoint department heads and managers
  • Analyze financial statements, sales reports, and other performance indicators
  • Identify places to cut costs and to improve performance, policies, and programs

The responsibilities of top executives largely depend on an organization’s size. For example, an owner or manager of a small organization, such as an independent retail store, often is responsible for purchasing, hiring, training, quality control, and day-to-day supervisory duties. In large organizations, however, top executives typically focus more on formulating policies and strategic planning, while general and operations managers direct day-to-day operations.

The following are examples of types of top executives working in the private sector:

Chief executive officers (CEOs), who are also known by titles such as executive director, managing director, or president, provide overall direction for companies and organizations. CEOs manage company operations, formulate and implement policies, and ensure goals are met. They collaborate with and direct the work of other top executives and typically report to a board of directors.

Chief operating officers (COOs) oversee other executives who direct the activities of various departments, such as human resources and sales. They also carry out the organization’s guidelines on a day-to-day basis.

General and operations managers oversee operations that are too diverse and general to be classified into one area of management or administration. Responsibilities may include formulating policies, managing daily operations, and planning the use of materials and human resources. They make staff schedules, assign work, and ensure that projects are completed. In some organizations, the tasks of chief executive officers may overlap with those of general and operations managers.

The following are examples of types of top executives working in the public sector:

Mayors, along with governors, city managers, and county administrators, are chief executive officers of governments. They typically oversee budgets, programs, and the use of resources. Mayors and governors must be elected to office, whereas managers and administrators are typically appointed. 

Most educational systems, regardless of whether they are public or private school systems, also employ executive officers. The following are examples of top executives working in the elementary, secondary, and postsecondary educational school systems:

School superintendents and college or university presidents are chief executive officers of school districts and postsecondary schools. They manage issues such as student achievement, budgets and resources, general operations, and relations with government agencies and other stakeholders.

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How To Become An Entrepreneur

Although education and training requirements vary widely by position and industry, many top executives have at least a bachelor’s degree and a considerable amount of work experience. 

Education

Many top executives have a bachelor’s or master’s degree in business administration or in an area related to their field of work. Top executives in the public sector often have a degree in business administration, public administration, law, or the liberal arts. Top executives of large corporations often have a master’s degree in business administration (MBA).

College presidents and school superintendents are typically required to have a master’s degree, although a doctorate is often preferred.

Although many mayors, governors, or other public sector executives have at least a bachelor’s degree, these positions typically do not have any specific education requirements.

Work Experience in a Related Occupation

Many top executives advance within their own firm, moving up from lower level managerial or supervisory positions. However, other companies may prefer to hire qualified candidates from outside their organization. Top executives who are promoted from lower level positions may be able to substitute experience for education to move up in the company. For example, in industries such as retail trade or transportation, workers without a college degree may work their way up to higher levels within the company to become executives or general managers.

Chief executives typically need extensive managerial experience. Executives are also expected to have experience in the organization’s area of specialty. Most general and operations managers hired from outside an organization need lower level supervisory or management experience in a related field.

Some general managers advance to higher level managerial or executive positions. Company training programs, executive development programs, and certification can often benefit managers or executives hoping to advance.

Important Qualities

Communication skills. Top executives must be able to communicate clearly and persuasively. They must effectively discuss issues and negotiate with others, direct subordinates, and explain their policies and decisions to those within and outside the organization.

Decisionmaking skills. Top executives need decisionmaking skills when setting policies and managing an organization. They must assess different options and choose the best course of action, often daily.

Leadership skills. Top executives must be able to lead an organization successfully by coordinating policies, people, and resources.

Management skills. Top executives must shape and direct the operations of an organization. For example, they must manage business plans, employees, and budgets.

Problem-solving skills. Top executives need to identify and resolve issues within an organization. They must be able to recognize shortcomings and effectively carry out solutions.

Time-management skills. Top executives do many tasks at the same time, typically under their own direction, to ensure that their work gets done and that they meet their goals.

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Entrepreneur Jobs

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Entrepreneur Demographics

Gender

Male

50.8%

Female

37.5%

Unknown

11.7%
Ethnicity

White

60.7%

Hispanic or Latino

14.7%

Black or African American

11.1%

Asian

9.3%

Unknown

4.2%
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Foreign Languages Spoken

Spanish

45.2%

French

9.4%

Chinese

7.3%

Mandarin

5.8%

German

4.8%

Portuguese

4.0%

Hindi

3.0%

Russian

3.0%

Italian

3.0%

Arabic

3.0%

Japanese

2.4%

Cantonese

1.9%

Korean

1.5%

Urdu

1.3%

Ukrainian

1.2%

Carrier

1.0%

Dutch

0.8%

Vietnamese

0.5%

Hebrew

0.5%

Turkish

0.5%
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Entrepreneur Education

Schools

University of Phoenix

19.1%

Brigham Young University

6.0%

Arizona State University

5.7%

New York University

5.5%

Michigan State University

4.9%

University of Washington

4.7%

Pennsylvania State University

4.6%

University of Texas at Austin

4.4%

Ohio State University

4.4%

University of Florida

4.2%

University of Southern California

4.1%

University of Houston

3.9%

University of Colorado at Boulder

3.9%

University of Central Florida

3.8%

The Academy

3.8%

Texas A&M University

3.7%

Purdue University

3.6%

Kaplan University

3.5%

Liberty University

3.2%

Florida State University

3.2%
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Majors

Business

34.5%

Marketing

7.8%

Finance

6.7%

Accounting

6.0%

Management

5.1%

Psychology

4.4%

Computer Science

4.3%

Communication

3.9%

Economics

3.1%

Graphic Design

2.8%

Education

2.6%

Criminal Justice

2.5%

Nursing

2.3%

Electrical Engineering

2.2%

Mechanical Engineering

2.2%

Political Science

2.1%

English

2.1%

Small Business Management

1.9%

Human Resources Management

1.8%

Health Care Administration

1.7%
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Degrees

Bachelors

43.9%

Other

20.6%

Masters

18.2%

Associate

8.7%

Certificate

4.3%

Doctorate

2.5%

Diploma

1.2%

License

0.6%
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Job type you want
Full Time
Part Time
Internship
Temporary
Average Yearly Salary
$90,000
View Detailed Salary Report
$50,000
Min 10%
$90,000
Median 50%
$90,000
Median 50%
$90,000
Median 50%
$90,000
Median 50%
$90,000
Median 50%
$90,000
Median 50%
$90,000
Median 50%
$163,000
Max 90%
Best Paying Company
Bloomberg
Highest Paying City
Everett, WA
Highest Paying State
Washington
Avg Experience Level
4.3 years
How much does an Entrepreneur make at top companies?
The national average salary for an Entrepreneur in the United States is $90,965 per year or $44 per hour. Those in the bottom 10 percent make under $50,000 a year, and the top 10 percent make over $163,000.

Real Entrepreneur Salaries

Job Title Company Location Start Date Salary
Entrepreneur In Residence, TSG Telstra Incorporated San Francisco, CA Apr 08, 2016 $245,000
Entrepreneur In Residence, Retail Labs Paypal, Inc. San Jose, CA Dec 21, 2016 $195,000
Entrepreneur In Residence Comcast Cable Communications, LLC New York, NY May 05, 2014 $151,161 -
$175,391
Senior Entrepreneur In Residence Cedar Advisors Waltham, MA Jan 20, 2012 $150,000
MBA Entrepreneur In Residence Mainstream Engineering Corporation Rockledge, FL Oct 17, 2011 $120,420
MBA Entrepreneur In Residence Rivian Automotive, Inc. Rockledge, FL Oct 24, 2011 $120,420
MBA Entrepreneur In Residence Mainstream Engineering Corporation Rockledge, FL Oct 10, 2011 $120,420
Entrepreneur In Residence Lightspeed Management Company LLC Menlo Park, CA Jun 01, 2012 $120,000
Entrepreneur-In-Residence DCVC Management Co LLC Palo Alto, CA Nov 18, 2015 $120,000
Entrepreneur In Residence Lightspeed Management Company LLC Menlo Park, CA Apr 01, 2011 $100,000 -
$120,000
Entrepreneur In Residence Lightspeed Management Company LLC Menlo Park, CA Jun 23, 2011 $100,000 -
$120,000
Entrepreneur In Residence Comcast Cable Communications, LLC New York, NY Jan 12, 2015 $90,400 -
$147,000
Entrepreneur In Residence Longworth Management Company, Inc. Waltham, MA Apr 20, 2010 $85,567
Entrepreneur In Residence Longworth Management Company, Inc. Waltham, MA Apr 15, 2010 $80,266
Entrepreneur In Residence The Social+Capital Partnership LLC Palo Alto, CA Jan 20, 2015 $80,000
Entrepreneur In Residence Youweb, LLC Burlingame, CA Sep 01, 2011 $72,231
Web Entrepreneur In Residence Youweb, LLC Menlo Park, CA Sep 26, 2011 $72,000
Entrepreneur In Residence Learn Launch Operating Company Boston, MA Mar 20, 2016 $70,200
Web Entrepreneur In Residence Youweb, LLC New York, NY Oct 04, 2010 $55,000 -
$65,000
Global Entrepreneur In Residence-Finance University of Massachusetts Boston Boston, MA Oct 01, 2016 $54,784
Global Entrepreneur In Residence-Finance University of Massachusetts Boston Boston, MA Jul 27, 2016 $54,784

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Top Skills for An Entrepreneur

  1. Business Development
  2. Graphic Design
  3. Financial Statements
You can check out examples of real life uses of top skills on resumes here:
  • Performed sales forecasting to ensure the sale and profitability of products and services, analyzing business developments and monitoring market trends.
  • Started graphic design business focused on exceptional messaging, imaging and branding communication for small businesses.
  • Reviewed financial statements, sales and activity reports, and other performance data to measure productivity and continuously optimized the processes.
  • Started up an online multinational e-commerce jewelry company with employees and infrastructure in the United States and India.
  • Configured server station charts to assure high degree of cost-efficient customer service; focused on customer problem-identification and resolution.

How Would You Rate Working As an Entrepreneur?

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Top 10 Best States for Entrepreneurs

  1. New York
  2. Rhode Island
  3. Delaware
  4. Arkansas
  5. South Dakota
  6. Colorado
  7. Connecticut
  8. New Jersey
  9. Pennsylvania
  10. Virginia
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Top Entrepreneur Employers

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Jobs From Top Entrepreneur Employers

Entrepreneur Videos

Day in the Life: Mushroom Kit Entrepreneurs

Career Advice on becoming an Entrepreneur/CEO by Juan G (Full Version)

Career Advice on becoming an Entrepreneur by Sir Richard Branson (Highlights)

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