Entrepreneurs

An aspiring entrepreneur can enter the field by pursuing one of the following entry paths:

• Starting a new brick-and-mortar business
• Developing a new product or service or improving an existing one
• Becoming a franchise owner, whereby an individual owner obtains a license to sell an existing company’s goods or services
• Becoming a distributor, whereby an owner is given legal permission to sell the products or services produced by another company (an Avon distributor is a good example of a distributor)
• Becoming a dealer, who is granted permission by another company to sell a single product (the owner of a Ford dealership is an example of a dealer)

Job duties for entrepreneurs once their product, service, or business is launched include hiring, training, and managing staff; handling financial issues (such as invoicing and creating and managing budgets); marketing their business; fulfilling orders; improving their product, service, or business based on customer feedback and in-house analysis; developing new products and services; and tackling other responsibilities that are involved with being a business owner.