The dictionary definition of entrepreneur is
"a person who organizes and operates a business or businesses,
taking on greater than normal financial risks in order to do
so." Many Darden alumni dream of running their own
business at some point in their careers. Autonomous ownership
can take many forms, from launching and growing a new business, to
buying and running an ongoing concern.
There are as many different approaches becoming a business owner
as there are business concepts themselves. As such there is
no one "right" way to pursue this goal. Likewise,
there are a vast number of resources to support
entrepreneurship. Here we have assembled good resources for
getting started on the path to ownership.
The Small Business Administration's (SBA) page Ten Steps to Starting A Business is a practical resource
guide for working through the steps towards business ownership -
starting, planning, financing, naming, locating, structuring,
A critical early decision for any entrepreneur is whether the
entity's governing structure will be for-profit, a non-profit, or perhaps the new hybrid b-corp (aka Benefit
Corporation), a for-profit firm driven by a social/environmental
Buying an existing business requires first
finding opportunities that meet your specific purchase
criteria. Consulting with a business broker is one place to
start, in turn requiring you to find a good broker. The IBBA, International
Business Brokers Association has information about the process of
using a business broker as well as a searchable directory of
Another path to business purchase is through a franchise; the IFA, International Franchise
Association addresses Franchising 101 topics as well as listing thousands of franchise
opportunities by category. BizBuySell is an online
marketplace that acts on all fronts - business-for-sale listings,
broker directory and franchise listings.
Consulting is distinct
type of entrepreneurship.
Darden Community of entrepreneurs includes