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Becoming an Entrepreneur #1: The Profile of an Entrepreneur

The topic of Entrepreneurship is everywhere.  From magazine covers projecting Bill Gates or Steve Jobs, and hit movies featuring profiles such as Facebook’s Mark Zuckerberg, becoming an entrepreneur is an attractive choice in today’s culture. And why wouldn’t it be? A flexible schedule, the opportunity to make a lot of money, the chance to capitalize on a business idea, and even the simple opportunity to be your own boss entice many people to consider starting their own businesses.

Statistics show that many entrepreneurs begin their dream of owning their ow company early in their careers. While some start their businesses soon after college, many entrepreneurs have significant work experience, and have worked in their industries for at least six years before launching their own businesses.

Surprising Statistics of Entrepreneurs

While it might seem like the successful entrepreneur is single, young and career-focused based on what the media projects; a recent study by Kansas City’s Kauffman Foundationactually shows the contrary. Below are a few surprising statistics they found when studying successful entrepreneurs.

– Many entrepreneurs are middle-aged. (The average age is 40 years old)

– Most entrepreneurs are married and have children living at home.

– Entreprenuers have bachelors degrees (95%) and 47% hold advanced degrees.

– Entrepreneurs are also often more educated than their parents and come from mostly upper-lower-class to middle-class families.

– More than half of all entrepreneurs are the first in their families to begin a business.

– One random fact: entrepreneurs tend to be the middle child in a three-child household.

For more statistics, read the full Kauffman Foundation study.

Thinking of becoming an Entrepreneur?

If you’re feeling the itch to launch your own business, yet trying to figure out how to balance your family and spouse, take heart! Especially for those who are married with children, it looks like you might just be in the perfect situation to begin your dream job!

Our next post in the series “Becoming an Entrepreneur” will discuss the steps to take as you develop your business plan.