Entrepreneur

Overview:

A career as an entrepreneur involves starting and managing your own business or venture, taking on financial risks with the goal of making a profit. Entrepreneurs identify opportunities, develop ideas into products or services, and build strategies to grow their business. They handle many roles, such as marketing, budgeting, customer service, and leadership, especially in the early stages. The path can be challenging and unpredictable, requiring creativity, resilience, and problem-solving skills, but it also offers independence, flexibility, and the potential for significant personal and financial rewards.

On a daily basis, an entrepreneur manages various aspects of running a business, often wearing many hats. They might plan and adjust business strategies, communicate with customers or clients, manage finances, oversee marketing efforts, and solve unexpected problems. Depending on the stage of their business, they could also be developing products or services, networking with potential partners or investors, hiring and managing employees, and researching market trends. Each day can be different, and entrepreneurs must be flexible, organized, and ready to make quick decisions to keep their business moving forward.

Salary Expectations and Employment and Outlook:

The average income for entrepreneurs in Oklahoma varies based on factors such as business type, experience, and location. According to recent data, the average annual salary for entrepreneurs in Oklahoma is approximately $83,625, with entry-level positions starting around $52,500 and experienced entrepreneurs earning up to $114,750 per year.

Watch an Interview with local Entrepreneurs: Auto Dealership Owner, Lumber Yard Owner, Insurance Agency Owner

Is a Career as an Entrepreneur Right for YOU? What are the:

Working Conditions and Physical Demands:

The working conditions of an entrepreneur can vary greatly depending on the type and stage of the business. Entrepreneurs often work long and irregular hours, including evenings and weekends, especially when starting out. They may work from home, an office, or even on the go, depending on their industry. The environment is typically fast-paced and can be stressful due to the pressure of making decisions, managing finances, and handling risk. However, entrepreneurs also enjoy flexibility, independence, and the ability to shape their own work environment and schedule. Success often requires dedication, self-motivation, and resilience.

Specific Skills Needed: To be a successful entrepreneur, several key skills are important:

Leadership: To guide a team, make decisions, and inspire others.
Problem-Solving: Entrepreneurs constantly face challenges and need creative, effective solutions.
Communication: Clear writing, speaking, and listening are essential for working with customers, partners, and employees.
Financial Literacy: Understanding budgets, cash flow, and basic accounting helps keep the business financially healthy.
Time Management: Entrepreneurs juggle many tasks and must prioritize effectively.
Adaptability: Markets change quickly, and being flexible is crucial for survival and growth.
Sales and Marketing: Knowing how to promote a product or service and connect with customers is key to generating revenue.
Self-Motivation and Resilience: The entrepreneurial journey has ups and downs, so persistence and drive are essential.

Education Requirements:

While in HS:

Take Business or Economics Classes: If your school offers them, these classes teach valuable basics about marketing, finance, and how businesses work.
Join Clubs: Participate in clubs like DECA, Future Business Leaders of America (FBLA), or Junior Achievement to gain leadership experience and business knowledge.
Start a Small Business: Try selling handmade items, tutoring, or offering a service in your community—it’s a great way to learn by doing.
Learn Financial Skills: Practice budgeting, saving, and managing money—it’s crucial for any business.
Work on Communication and Leadership: Take part in school events, volunteer, or lead group projects to strengthen your confidence and people skills.
Study Successful Entrepreneurs: Read books, watch videos, or listen to podcasts to get inspired and learn how others built their businesses.
Build Tech and Marketing Skills: Learn basic graphic design, social media marketing, or website building—these tools are often used by entrepreneurs.

You might also consider taking college courses (concurrent enrollment) while in high school to save time and money. Ask your High School Counselor or a Vista Member for more information.

A Note About Transferring

Oklahoma provides for many seamless pathways from local community colleges to regional and state universities which allows you to take advantage of a more cost effective way for you to earn credits at a reduced rate with guaranteed transferability. You can possibly stay closer to home and save money and still reach your academic and career goals. Ask your High School Counselor or a Vista Member for more information.

For small business owners, the average salary in Oklahoma is around $118,161 per year . However, it's important to note that these figures can vary widely depending on the specific industry, business size, and other factors.