How realistic is it to become an entrepreneur?
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I'm majoring in accounting. After I pay off my student loan debt I would like to eventually become an entrepreneur and a philanthropist. Is it naive to hope to make good money in entrepreneurship? I'm starting my first business class next semester, so I don't have a business plan yet. Any suggestions or advice?
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Answer:
according to Donald trump only 1 to 2 percent of us is capable of being an entrepenuer. I have to agree, YOU must posess a "take charge attiude and don't like obeying others but are VERY self obediant. I am not sure how a degree in accounting will help you do such that.
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Other answers
I make about 100k with my business, but it took 4 years to bring it up to that level. The first year was only 5k. It is realistic. You just need to focus on your goals and ignore 99% of the advice given by people who never owned their own business.
Machine Gun Messiah
The first thing your gonna need is the plan, the second thing is money-seed money. If I were you while you pay off your student loans, put some money away for your business and make some business contacts. Your gonna need to know some people with money or people who know people with money that would invest in your company. Remember 99% of all business fail in their first year. I know a couple who ran a improv theater and did not receive a paycheck their first year, that guy who 5k his first year did damn well. Here are your sources of investment money for start-ups. 1. your savings 2. friends and family 3. Network contacts 4. private investors 5.Private equity funds 6. banks. Banks and private equity funds are your last resort cause banks will require some sort of collateral and will expect their money in less than a year sometimes. Private equity funds will buy a controlling interest in your company and will expect their return on investment in 2 years. Courses to focus on are business planning, financial accounting, cost accounting, brand management, and corporate finance.
Linda
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