The Average Salary

A common misconception that people have regarding entrepreneurs is that they’re making great money. While in some cases this is true, the average entrepreneur makes far less than one would think.

The salary: $68,000

In his article And, the Average Entrepreneur's Salary Is ..., Chad Brooks pointed out that “nearly 15 percent of small business owners need to work a second job while running their business in order to make ends meet.” Why is this? Running a business is EXPENSIVE. Not only the costs of maintaining the business expensive, it is advised to keep 9 months of expenses set aside in case of emergency. Adding up this and other unexpected costs makes the initial shock of an average $68,000 salary truly not too surprising.

Do not let these numbers scare you from taking the risk of starting up a business. There is a bright side. Experienced entrepreneurs have the advantage of knowing the market and understanding the strategies of making the business successful. Once the first business has stabilized, they will often open another. By the end of their career, they can expect to make salaries well into 6 figures.

If there is anything worth noting, it would be to not be afraid to try. Even though opening a business can seem scary, it is well worth the risk. Just make sure that there is a strong support base and that every detail has been thought through. With that, good luck!

- Aaron Gomez