Are you an aspiring entrepreneur? Do you wish to sharpen your business skills and gain valuable knowledge? Heading to university and studying for a degree can be the best way for you to garner the knowledge and expertise you are desperately seeking. But when it comes to choosing which degree is best suited to you and your entrepreneurial aspirations, you can become easily overwhelmed by all the options.
Firstly, you should decide whether you would like a traditional university experience or whether distance learning is better suited to you and your needs. Both have their own benefits, and it depends on the university experience you wish to have. Traditional university will offer you the more social benefits of attending university, whereas distance learning (otherwise known as e-learning) allows entrepreneurs to build their skills, learn their course materials and graduate while working around other responsibilities such as shadowing an established entrepreneur.
Deciding on the Best Degree
Deciding on the best degree to dedicate your time to can be a huge responsibility – and you will want to ensure you are not wasting your time or money. Of course, the degree you choose should be determined by your passion and your future entrepreneurial aspirations. For instance, are you an innovator looking to come up with a new idea and turn it into a viable business? If so, what is your business idea? Do you wish to launch a new and exciting PR firm with a difference? If so, then a degree in marketing or communications could be better suited than a degree in economics.
If you are unsure, then you could always reach out to successful entrepreneurs and ask for their advice. You will find that many entrepreneurs will be more than happy to explain the story behind their success, detailing the degree they found useful and the road that led them to their accomplishments. You could also consider job shadowing.
For inspiration, here is a list of the best degrees for entrepreneurs:
Business Management
Business management is one of the most common degrees entrepreneurs pursue. This is because this degree type provides students with a thorough knowledge of every aspect of developing, planning, launching and operating a viable business. Typically, students will learn all about:
- How to formulate business plans based on short-term and long-term goals
- Funding options
- The stock market
- Private companies
- Publicly traded companies
As well as this, students will cover accounting, economics, human resources, marketing, finances, forecasting, expansion, business law, etc.
A degree in business will cover a wide array of business basics that can be easily applied to many industries from retail to healthcare. Having a deep understanding of business mechanics can provide entrepreneurs with the confidence needed to pursue their budding business ideas, as well as provide them with the knowledge and tools to handle everyday business functions and ensure they run smoothly.
Another added benefit of attaining a business degree is that it offers you the opportunity to pursue a Doctor of Business Administration (DBA). A DBA is a great opportunity to build on your pre-existing business expertise. Whether you are a successful entrepreneur or are yet to launch your first successful business, a DBA can help develop you as an individual and transform your career. For example, Aston University’s Executive DBA online program focuses on providing senior professionals with skills that allow them to strengthen their ability to solve complex business problems – a skill that is ideal for budding entrepreneurs. Furthermore, an online degree can be completed part-time, making it easier for senior professionals to balance a career while also studying and improving their business skills.
Marketing
As an entrepreneur, you need to have a comprehensive understanding of the mechanics behind marketing. Knowing how to market not only your business, but also yourself, allows you to stay ahead in what is an incredibly competitive market. With many business professionals developing similar if not the same ideas, you not only need to have an edge but know how to market your business so that people understand what it is that makes your business different.
With a marketing degree, you will learn much more than the methods behind a successful marketing strategy. You will be taught how to:
- Research and identify a target market
- Tailor a marketing strategy based on your target market
- Utilise social media platforms and their advertising features
- Create value that will give your business a competitive edge over your competitors
- Create a brand voice (and maintain consistency)
No business can remain relevant without proper marketing. You will need to understand the basics behind marketing but also keep on top of the latest marketing trends – especially with the likes of social media. A marketing degree can teach you the tools to dissect any changes in social media marketing rules and regulations and how to adapt existing marketing strategies to these changes.
Engineering
The main reason behind a degree in engineering being so valuable is that it is a versatile degree for those who wish to work for another company or start their own business. A degree in engineering can help secure high paying jobs; however, you will also gain knowledge in how to plan a business, launch a start-up and keep a business afloat.
Most engineering degrees focus on equations and teach students how to improve their critical thinking. Therefore, if you enjoy solving problems and have a love for math and science, an engineering degree can not only provide you with a variety of relevant skills, but it can be exciting and enjoyable.
You will learn a variety of skills such as international relations, leadership, communications, research, quality management, accounting and much more.
Entrepreneurship
Yes, there are degrees solely focused on entrepreneurship. These degrees are more general than a degree in business or marketing, for example. A bachelor’s degree in entrepreneurship is ideal for individuals who cannot afford to spend extra years in university focusing on a specific field. Rather, a degree in entrepreneurship focuses on developing comprehensive skills that allow the graduate to plan, start and maintain a business (with the latter being a skill many entrepreneurs to attain).
This degree type will teach you the reasons behind failing or failed businesses and explain what makes a viable idea. You will learn whether your idea is likely to turn into a successful business or whether you should return to the drawing board and develop a new one altogether.
Many of us dream about starting and owning a successful business. However, not many of us know how to move out of the conceptional stage and put our plans in motion. The above degrees are great ways to gain an understanding of how to become successful entrepreneurs.
