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<\/div>What should you study to be an entrepreneur?<\/b><\/h3>\n
An entrepreneurship education might mean an actual entrepreneurship degree.<\/p>\n
You might find more versatility – and more interest – in a broader category of business education. The well-rounded approach might better prepare you for the challenges you’re bound to face in an entrepreneurial career.<\/p>\n
While no straightforward path in education will lead you to startup success, a business-related degree can’t hurt. Combine any education with something directly related to your field.<\/p>\n
For instance, if you want to open a restaurant, having some kind of hospitality training is essential.<\/p>\n
If you’re looking to create an app for the financial tech world, having education in finance and<\/i> technology is pretty important.<\/p>\n
For an idea of where to start, take a look into any of the following:<\/p>\n
- \n
- Business management<\/li>\n
- Business analytics<\/li>\n
- Economics<\/li>\n
- Accounting<\/li>\n
- Marketing<\/li>\n
- IT\/Software Engineering\/UX or UI Design<\/li>\n
- International business<\/li>\n
- Hospitality management<\/li>\n<\/ul>\n
Looking to improve your education level to strengthen your odds of success, but not sure you have the time to travel all the way to your nearest university?<\/p>\n
There are many online programs that can help you improve your business skills<\/a>.<\/p>\n
5. Living the startup life<\/h2>\n
Being an entrepreneur isn’t easy, and it takes a certain personality type<\/a> to truly be successful.<\/p>\n
Problem-solving, self-discipline, and flexibility are all critical components of successful entrepreneurs, and will come in handy when tackling the challenges – and rewards – of the startup life.<\/p>\n
What is the average annual salary of an entrepreneur?<\/b><\/h3>\n
According to a study from American Express OPEN<\/a>, the average entrepreneur pays himself or herself an annual salary of $68,000. According to the same study, 15 percent of entrepreneurs feel that they need to work a second job to help make ends meet.<\/p>\n
The core takeaway is there may not be a big payoff at the beginning, but things can still come up roses with more effort and time.<\/p>\n
But the hours are good, right?<\/b><\/h3>\n
A survey<\/a> of hundreds of entrepreneurs revealed:<\/p>\n
- \n
- 19 percent work 60+ hours per week,<\/li>\n
- 30 percent work 50-59 hours per week,<\/li>\n
- 33 percent work 40-49 hours per week,<\/li>\n
- 14 percent work 30-39 hours per week, and<\/li>\n
- 5 percent work less than 30 hours per week.<\/li>\n<\/ul>\n
The upside of this is that 73 percent of the business people surveyed said their hours were more flexible now than when they worked for someone else.<\/p>\n
The long hours don’t necessarily mean that you’ll be working without breaks, based on the survey results. The same survey found that when it came down to vacations:<\/p>\n
- \n
- 44 percent take 16 vacation days or more each year,<\/li>\n
- 26 percent take 11 to 15 vacation days,<\/li>\n
- 19 percent take 6 to 10 vacation days,<\/li>\n
- 11 percent take 1 to 5 vacation days, and<\/li>\n
- 2 percent never take any vacation days.<\/li>\n<\/ul>\n
That last 2 percent may be burning the midnight oil just a little too intensely, but the stereotype of the endlessly hustling entrepreneur is a hard one to shake for some.<\/p>\n
Based on these numbers, the idea that a startup will take as many hours as you can give it seems to hold true.<\/p>\n
This attitude is changing, however, as people start to push back on the idea that you need to continually be on the move to succeed. Many entrepreneurs have stepped back and reevaluated their attitudes towards work.\u00a0Johnathan Goodman wrote about this for Entrepreneur.com<\/a>:<\/p>\n
As entrepreneurs with so many hats to wear and fires to put out, it’s all too easy to get pulled in multiple directions and lose sight of what’s truly important and what’s not. It took me a long time to realize that “hustling” every day didn’t get me to where I wanted to be any faster. So, I stopped the hustle, prioritized the most important areas of work and spent my spare time on things that make me happy. The result? More success in business and a higher quality of life.<\/p><\/blockquote>\n
This approach may not work for everyone trying to start a business, but it’s worth considering. We’ve examined\u00a0entrepreneur health and wellness<\/a> before, and work-life balance is a vital part of that.<\/p>\n
Even so, you should prepare yourself for long hours. It’s unlikely that you’ll see a short-term payoff until your business gets off the ground.<\/p>\n
If you’re looking to improve your mindset and your capacity to put your head down and get it done<\/i>, check out How Self-Discipline Can Unlock Your Business Success<\/a> to strengthen your self-discipline skills.<\/p>\n
Wrapping up<\/h2>\n
As you’ve seen, the road an entrepreneur travels on is rarely paved with gold, but with effort, discipline, a well thought out business plan, and a little bit of luck, you may find your way.<\/p>\n
No matter what direction you may go, knowing the numbers and being prepared is a critical part of success.<\/p>\n
But there’s one thing more important than being prepared. As Simon Sinek said<\/a>, \u201cdream big. Start small. But most of all, start.\u201d<\/p>\n
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