How do I become an entrepreneur?

What if your big idea became a reality? Let's dive into everything you need to know about becoming an entrepreneur, from essential skills you should add to your professional toolkit to the first steps in launching your business.  

What does it take to become an entrepreneur?  

Entrepreneurs are visionaries who drive change, create jobs, and spark innovation. Success requires an entrepreneurial mindset. This means embracing risk, learning from failure, adapting quickly, and staying rooted in your “why.” With resilience, problem-solving skills, and the ability to spot market opportunities, you can make decisions that drive growth.  

If you're worried you don't have the right background, don't be. Entrepreneurs come from all walks of life. Start by auditing your skill set to identify your strengths, then determine which areas may need improvement. That's where a graduate degree can help. Degrees, certificates, and concentrations in entrepreneurship combine business acumen with practical frameworks, preparing you to develop plans, launch ventures, pitch investors, and conduct market research. Through experiential learning in incubators, accelerators, residencies, and mentorship programs, you'll gain hands‑on experience that transforms knowledge into a viable business and shapes you into a confident, well‑rounded leader.  

What steps do I need to take to become an entrepreneur? 

An entrepreneurial career typically starts with a great idea, but how do you know if an idea is viable? To develop a successful business idea, start by identifying a genuine need, researching market trends, and analyzing your target audience. 

Once you've done that, you'll need to build a roadmap. Entrepreneurial innovation typically starts by solving a problem that already exists. Your plan should outline how you'll accomplish that by addressing these factors:  

• Marketing and Sales: How you will retain and attract customers 
• Operations: How you will deliver the product 
• Human Resources: What talent do you need to hire 
• Technology: The systems and tools you'll need to support growth 
• Finances: How you plan to acquire funding and pitch to investors  

What to consider before launching your startup?   

Launching your startup requires more than an idea; you need to establish a solid foundation that will set you up for long-term success. Here are some things to keep in mind before you take off.  

Nail down your legal requirements:

That means obtaining any necessary permits, licenses, business registrations, and insurance to ensure your launch is as smooth as possible.  

Build scalable operations:  

Think beyond day one. Ensure that your business can grow efficiently by creating systems and processes that can track and react to changes in demand.  

Understand your customer: 

Begin marketing in the places your customers already spend time. Focus on cost-effective channels like social media and strategic partnerships. 

Perfect your pitch: 

A compelling, well-practiced pitch can open doors to funding, mentorship, and partnerships that can help you succeed.  

Pursue a business degree:

A graduate business degree, such as an MS in Management or MBA with an entrepreneurship concentration, can be a game-changer. Connecting with mentors, peers, and real-world opportunities to test ideas, pitch investors, and scale ventures while mastering the skills that drive entrepreneurial success. 

Which funding options are best for aspiring entrepreneurs?  

Securing funding is one of the most important parts of launching a startup. To attract investors, you'll first need realistic financial projections that outline how much capital your business needs and how it will be used. Your next step is to craft a compelling pitch that effectively communicates the value, potential for growth, and profitability of your business idea.  

Typical funding stages and options include:  

• Early-stage or bootstrapping: crowdfunding, personal savings, and loans  
• Growth stage or seed stage: Friends or family loans, mentor investors or angel investors, venture capital, grants, and accelerators 
• Later stage: Small business loans, private or growth equity, corporate investors, business loans, initial public offering (IPO) or acquisition 

Each of these funding paths can help grow your business, but keep in mind that they each come with their own trade-offs, timelines, and expectations.  

Invest in yourself 

As an entrepreneur, one of the most important investments you can make is in yourself. A graduate degree is a strong path for entrepreneurial success, which is why many choose to expand their business education. At Northeastern University's  D'Amore-McKim School of Business, you'll gain more than just a degree. You'll gain the skills, connections, and real-world experience that shape your pathway to success. 

• Entrepreneurship, MBA concentration 
• Entrepreneurship, MS Concentration 
• Graduate Certificate in Entrepreneurship 

Here, learning goes beyond the classroom through experiential opportunities that put theory into practice. You'll gain access to IDEA, a student-led venture accelerator at Northeastern University that supports entrepreneurs by providing services for every stage of venture development, from business plan creation to prototype funding.  

“My coursework at D'Amore-McKim gave me a strong foundation in business and entrepreneurship. I learned essential theories and practical frameworks, and professors provided real-world insights that helped me apply these concepts to structuring a business, creating investor decks, and preparing for pitches.”

Dani Zheng, MS in International Management'24

You'll also get connected to The McCarthy(s) Venture Mentorship Network, a powerful resource that pairs Northeastern entrepreneurs with experienced, high-level mentors. They'll help you navigate challenges and give you the guidance you need to take your venture to its full potential.  

“After two years in the workforce, I knew I wanted to be in the business world and build the skills to become an entrepreneur. Earning an MBA felt like a natural step for me to gain the education, network, and foundational business acumen to succeed in my career as an entrepreneur.” 

Comus Hardman, MBA'22

Ready to take the next step? 

Explore our graduate programs with an entrepreneurship concentration and discover how they can fuel your venture. Then, sign up for an event to connect with faculty, current students, and future mentors to see firsthand how D'Amore-McKim programs prepare entrepreneurs.  

The perspectives shared here are informed by Northeastern University's entrepreneurship ecosystem, including concepts covered in our MBA Entrepreneurship and Corporate Innovation concentrations and Graduate Certificate in Entrepreneurship. Ideas were also distilled from materials found on the university's Entrepreneurship, IDEA, and Venture Mentoring Network websites.