If you want to start your own business, the best thing to have on your side is the knowledge you need to maximize the odds you’ll succeed. While MBAs are still viewed as the go-to for budding entrepreneurs, there are plenty of degrees out there that will harm you with the tools to succeed as a business owner. Here are five college degrees for startup owners.
A Business Degree
This should be a no-brainer, but a bachelor’s degree in business is a good choice for would-be entrepreneurs. It gives you an overview of marketing, sales, business management, and accounting. You could find courses in taxes and business IT systems. You could even take classes specific to managing certain types of businesses like restaurants or retail establishments. Economics degrees are another excellent business degree for entrepreneurs. You learn supply and demand, market research and the impact of regulations.
A Marketing Degree
A marketing degree will touch on issues entrepreneurs need to know like accounting, business management, and supply chain management. However, its focus will be on developing products and services customers actually want and successfully launching them into the market. New England College stands out for its marketing degree, as well as its convenient schedule. New England College Online is a fully accredited online college and one of the best online bachelor’s programs in the nation. And that’s aside from their various management concentration programs and perhaps working in the leading SEO agency after graduating.
A Communications Degree
Communication majors learn the basics of advertising and marketing. They are experts in giving presentations that connect with the crowd, a necessary skill if you want to have a successful sales pitch for investors or corporate buyers. You’ll learn how to work with people and subtly manipulate them toward specific goals. And unlike a psychology degree, your skills are more broadly applicable to every aspect of your business.
Accounting or Finance
A business won’t stay in business very long if it can’t stay out of the red. An accounting degree gives you an education on how to manage money properly. You’ll certainly avoid the mistakes of failing to pay your taxes, not charging enough for your products, or neglecting to track expenses, much less whether or not the expenditure actually improves profitability.
You could become the best candidate to lead an existing startup because you have the financial management expertise, handling the books and working with investors, while your technical gurus work on the product. Another option is becoming a CPA or financial adviser and running your own business. Or, you could join an existing business as the CFO.
A Law Degree
Having legal expertise can be a great benefit to startups. Startup owners have to deal with contracts, legal obligations, employment law, and the protection of assets. Depending on the courses you take, you could become an expert in tax preparation or intellectual property management.
There isn’t one specific degree you need to have in order to become an entrepreneur. The reality is that a variety of degrees teach you skills you need to succeed in business.
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