Whether you’ve always dreamed of owning your own business or imagine moving from employee to employer in your chosen field, some degrees are better than others in preparing you to start a business. Different degrees can teach you what you need to know to run your own business and work for yourself, or the skills you need to grow a small enterprise into something bigger. Here are the 6 best degrees for aspiring entrepreneurs.
Marketing is a very marketable degree, pun intended. A marketing degree can teach you how to promote a business, a service or a product. A marketing degree is a great choice for someone who wants to run a retail business or ecommerce site. When you know how to analyze your customer base, the success rates of various marketing methods and your industry’s best practices, you’ll be able to grow the sales figures no matter what you’re selling.
A general Master’s of Business Administration teaches the basics of business management, accounting, marketing and other matters to the student. An MBA is one of the best degrees for aspiring entrepreneurs when you are already an expert in your field but want to start your own business. Whether you’re an engineer, nurse, skilled tradesperson or artisan, an MBA teaches you the business skills that are critical to running the business side of any field.
Know that earning an MBA doesn’t have to take you away from your fledgling business. You can find a great accredited MBA program online. A side benefit of completing an MBA is that it proves to potential lenders and investors that you understand the financial and legal side of business. It also provides the skills to grow your own business. You’ll already understand how to recruit qualified talent, manage a team and promote your firm without spending a fortune. Networking with other professionals in the MBA program is invaluable.
IT and Computer Science
A background in computer science or IT may not seem like a good degree for an entrepreneur at first glance. But in reality, this type of education can teach you what you need to know to run an ecommerce business, perform search engine optimization or work in the technical services field. If you just want to earn a lot of money designing web pages or designing apps for clients, then an IT or computer science degree is the only real choice. We’d like to note, however, that ecommerce degrees are also an option at a number of schools.
Writing and English
Writing and English is another degree most people won’t think about when it comes to business, but having a deep understanding of the English language could help your business in many ways. For one, this program will teach you how to better communicate with stockholders and customers through the written and spoken word. But it will also help you if you’re trying to build an effective content marketing strategy and create content that will move your audience and boost conversions.
Accounting mistakes cause a large number of new businesses to fail, whether they didn’t manage their cash flow or failed to pay their taxes. An accounting degree is therefore an excellent degree to complete. It can also be the path to owning your own business, whether you work as a bookkeeper for other small businesses or become the head CPA at an accounting firm. If you decide not to run your own business, you have still acquired incredibly useful skills that increase the odds you’ll be promoted to management.
You’d be surprised at how much of business relies mainly on psychology. Having a profound understanding of human psychology can give you a great edge when trying to sell or during negotiations for instance. Having a deep knowledge of the human psyche could help you improve your business in more ways than one. This is especially true when it comes to marketing.
Did you know that Edward Bernays, who many perceive as the father of modern marketing, was Sigmund Freud’s nephew? He was able to use his uncle’s advances in psychoanalysis and apply them to business. He was also sought after by companies who wanted to fine tune their PR campaigns and changed the way products were marketed forever. So, if you really want to know what makes your audience tick and learn how to market to them, psychology could be a great minor to consider.
While the idea of the dropout entrepreneur has been greatly romanticized lately, the reality is that certain college degrees will improve the odds you’ll succeed. Whether accounting, business or another program, learn what you need to know to not just start a business but keep it running.