In the last few years, we’ve seen more and more people across the country choose entrepreneurship as a career path when they have lost their jobs, or want to inject more passion, fun, and freedom into their working life.
If you’re in this position, and have recently started your own firm or plan to launch a startup soon, it’s important to realize it will probably be a whole lot more challenging than you expected. You’ll not only have many competitors to go up against, but you’ll also need to understand a wide variety of topics, from sales and marketing through to leadership, product development, customer service, and finance.
As a result, if you want to give yourself the highest possible chance of success, it helps if you educate yourself on relevant subjects. A great way to go about this is to enroll in an undergraduate or higher degree at university. Read on for some of the degrees worth studying if you want to be a prosperous entrepreneur now and into the future.
Obviously, one of the top degrees for would-be company owners is a business one. In particular, a Masters of Business Administration (MBA) is popular with people who plan to stay working in their current nine-to-five job, as well as budding entrepreneurs who want to back their street-smarts with best practices. For professionals who wants to start their future business venture on the right foot, they learn about the ins and outs of entrepreneurship, and develop a clear idea for their venture.
Studying an MBA or related degree is helpful because it will teach you about a wide variety of topics. For instance, these programs typically cover things like sales, marketing, finance, accounting, leadership, communication, HR, psychology, and organizational management. Most MBAs have a decent amount of flexibility to them too, which means you can choose the units you’re most interested in, and which you think will benefit you most.
Business degrees are also handy in that they will help you to hone personal skills which are needed for business ownership. For instance, you’ll develop strengths in time management, decision making, problem solving, communication, negotiation, and creativity.
During an MBA program, you are sure to meet a variety of like-minded people from many different cultures and backgrounds too. These contacts can be very helpful over the years, as they may not only help you understand different cultures and international markets, but also end up becoming your business partners, investors, clients, employees, and advisors.
Considering that we live in such a tech-driven world now, computer science is another degree that can set you on the path to entrepreneurship nicely. This is particularly the case if you’re someone who has long been interested in how computers work, and/or how they can help people and companies to live and operate more happily and efficiently.
Having an understanding of computers, information technology, big data, applications, cloud computing, security, and systems management can be beneficial in business in many different ways. For example, you can use this knowledge to develop groundbreaking new products or services; find more economical or cost- or time-effective ways to complete tasks; and provide a better customer experience.
Enrolling in a software engineering online degree or similar program can also help you learn how to create and utilize analytics programs and other big-data sets, and to make services more affordable and/or comprehensive. Computer skills can also be used to help you develop cutting-edge websites, apps, games and algorithms; streamline processes; and discover how to tap into emerging business areas ahead of your competition.
One of the most important factors involved in business success in any industry is managing company cash flow and investments well. As such, it’s worthwhile considering choosing an economics degree if you want to become an entrepreneur.
By studying economics, you will be educated on how the banking sector and international and foreign currency markets work, at both a micro and macro level; and you will be better equipped to make financial projections, ensure you don’t spend too much, and find ways to grow your business economically. Understanding economics will also help you to stay ahead of trends; properly invest funds and get access to cash injections; and predict how political changes and developments may affect markets and your business as a result.
With Big Data being so important now, economics is a good choice because it will help you discover how to analyze and make use of large reams of information. Using this knowledge, you can make more informed decisions, quickly; find out pertinent information about your target market and customer preferences; predict sales trends; discover the best marketing and customer service strategies; improve processes; reduce equipment downtime, and so on.