I’m going to share with you the 10 best degrees you should study if you desire to become an entrepreneur and run a business someday.
I know you’ve heard some new-age motivational speakers talk about how going to school is a waste of time; and why you should just forget about school and go be your boss. Why spend 4 to 5 years studying a course that might not be of any use to what you plan to do in the future? Imagine spending 5 years in school studying Marine engineering, to end up starting a fashion business. Doesn’t make sense, right?
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Generally, you don’t need a degree to start and grow a business successfully. But you do need both street and book knowledge to become a successful entrepreneur. And you can get some valuable book knowledge if you choose to study for the right degree. As an aspiring entrepreneur, you can sharpen your skills and gain valuable knowledge with the right degree program. The best choice will depend on your aptitude or desired industry for business. For budding entrepreneurs, these are some of the most useful degrees that can prepare you for the entrepreneurial journey. Many of the top CEOs studied number 4 in school.
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Table of Contents
1. Business
Studying for a business degree will not make you a successful entrepreneur. The primary qualities of an entrepreneur are not developed in the classroom. But people who understand the dynamics of business appreciate the fact that a business needs at least an entrepreneur and a manager to succeed. If you already have the entrepreneurial quality, studying Business will help you learn the managerial qualities of running and growing a business. Additionally, the reason why this degree made the top of the list for entrepreneurs is that the basics of business success are the same whether a person wants to start a company that sells medical devices or makes arrangements for tourists.
2. Finance
Although there are plenty of apps and software programs that make accounting and tracking finances easier, entrepreneurs can benefit greatly from a better understanding of accounting methods, financial ratios, and financial analysis. A degree in finance or accounting will provide critical knowledge for protecting a venture’s financial future. As it is with a business degree, a finance degree can be applied to a startup in any industry.
Furthermore, according to finance statistics, more than 80 percent of businesses that fail do so because of cash flow problems. As an entrepreneur, your understanding of how to limit these risks will give your business a better chance at succeeding.
3. Marketing
You cannot build a global brand without innovative marketing. Every entrepreneur must understand the mechanics of marketing to stay competitive. With the growth of Internet marketing, there are many opportunities to save money and reach a wider audience.
However, I have to admit again that you don’t need a degree to learn marketing today since there are many online and offline training programs. However, a four-year marketing degree that is based on theoretical and practical knowledge and activities, and not on outdated information, will offer more than a 3-month online course. You cannot compare immersing 4 years into a subject and 3 months.
4. Economics
Also, many of the top Fortune 500 CEOs studied economics at the university. Anyone who wants to start a company should study economics formally or otherwise. You will develop skills that will help you make smarter business choices. Understanding how markets work takes a considerable amount of education, and a degree program in economics offers a deeper understanding. Entrepreneurs can benefit from an economic background.
5. Communications
A communication degree is a lot more than turning out a good speaker. One of the most vital parts of business success is maintaining good relations with both internal and external stakeholders, and a degree in communications offers the skills needed to accomplish that. People who earn degrees in communications often wind up in the fields of law, broadcasting, public relations, management, and human resources. For entrepreneurs, these skills are important for everything from recruiting talents to retaining customers and relating with the public.
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6. Computer Science
This degree is great for entrepreneurs who want to launch tech startups. People who understand software and app development can design more effective and useful app-based businesses. With a degree in computer science, an entrepreneur enjoys the versatile abilities to create a virtual or a brick-and-mortar business.
Moreover, computer science students learn programming languages that are relevant to many development applications from web design to software creation. Today, some computer science majors take blockchain development and artificial intelligence classes. New technologies and trends emerge every day, and computer science provides entrepreneurs with a competitive edge in any industry.
7. Environmental Science
Additionally, environmental science is a valuable degree choice for an entrepreneur who is interested in making green improvements to an industry. Today, environmental entrepreneurs are often called eco-entrepreneurs or ecopreneurs. They usually develop disruptive startups that make beneficial green changes that save consumers money in a category of products or services. Environmental science majors learn how to become problem solvers and how ecosystems work in a variety of applications. From farmland and lake management to city planning, students gain insights into many ways to make green improvements everywhere. Since there is more pressure to protect the world’s natural resources as the population grows, the need for eco-friendly innovations continues to grow.
8. Engineering
Engineers are said to develop a level of adaptation, problem-solving, and critical thinking skills that prepare them to survive through challenging conditions. The skills you gain in an engineering degree program will help in most aspects of planning a business, launching a startup, and keeping a company going. There are several options when it comes to choosing a degree program in engineering. The reason why engineering ranks among the top 10 degree choices for students is that it is versatile enough to be beneficial for people who want to work for another company or for people who want to start a business. Graduates typically secure top-paying jobs or start businesses that record impressive growth.
9. Entrepreneurship
Universities now offer degrees in entrepreneurship. There is much more to being an entrepreneur than having a solution to a problem and the drive to succeed. Although some entrepreneurs learn along the way, many people fail because they lack the knowledge and skills. Overall, the benefit of a bachelor’s degree program in entrepreneurship is developing a comprehensive skill set that allows you to identify and leverage every resource at your disposal to plan, start, and grow a business.
10. Psychology
Some of the most successful entrepreneurs have a deep understanding of people. They know how to identify the relationships between different types of problems and behaviors. Also, they know how to inspire their team to perform better, work together, and be more productive. They can interact well with customers or vendors. This is because they understand everyone on an individual level and treat them with respect. For entrepreneurs, the biggest benefit of a psychology degree choice is the ability to understand people and why they do or say what they do. This is useful in making sales, planning marketing strategies for a specific group, choosing ideal employees for the business, and interacting effectively with vendors and customers.
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Do you want to study abroad? Note that obtaining a bachelor’s degree or a master’s degree in this field helps to improve your chances in the labor market. Studying abroad is no joke for international students due to the cost. However, you can achieve your dreams without breaking the bank by applying for student loans, which you can pay for as long as 10 years. MPower Finance and Prodigy Finance are some of the best student loan providers for international students. They also do not require a cosigner or collateral before an application. Reach out to us today, and let’s help you begin the process.
