Nowadays, most individuals disagree that you need a business degree to become a successful business owner. However, education will speed up the entrepreneur and young business owner’s rise to the business mountaintop. But, which degree should these aspiring entrepreneurs and business owners go for? That question will likely bring to mind degree choices such as an MBA. However, you need to realize that business degrees aren’t the only college majors aspiring young business owners should look to obtain.
So, to answer the question, which higher education major will set up a young business owner for success, we’ve shortlisted a few options in this article. Of course, some degrees that we’ve mentioned today are to be expected. However, a few degree options might surprise you. So, with that in mind, let us look at a few degree options you could go for to ensure success in the business world.
- Business Administration Degree
There is no shadow of a doubt that to build a career in business, individuals must enroll in a business-related degree, whether an MBA or a bachelor’s. Therefore, studying to obtain a business administration degree is by far the best course of action if you want to improve your chances of success. If your question is ‘what jobs can I get with an MBA,’ here is the answer. A business administration degree might be the same as a business management degree at the surface. However, a management degree focuses more on the human aspects of business management. On the other hand, a business administration degree enables candidates to achieve strategic business objectives and goals.
Moreover, a business administration degree will teach candidates how to develop business objectives and achieve them in a set time frame. They will also learn to manage finances, create business plans, solve logistical issues, handle supply chains, and much more.
- Information Technology Degree
Companies and computers complement each other inextricably in today’s demanding business environment. Therefore, it is a no-brainer for aspiring entrepreneurs-to-be to acquire a degree in IT or computer science. Doing so will set them apart from the crowd and maintain a competitive edge over their competitors. Moreover, after obtaining a computer science or IT degree, you will work according to your timetable. For instance, if you want to update your business website or add a new function to it, all you’ll require is a computer and a good internet connection.
In addition, such a degree will enable you to learn basic network security concepts, allowing your business to stay safe from scams, frauds, and online threats. In the end, an IT or computer science degree will allow your company to remain on the bleeding edge of technology, taking advantage of any new technological trend that comes about.
- Marketing Degree
Since international and local businesses are more competitive than ever with the help of the internet, digital marketing is undoubtedly a massive game-changer here. Aspiring business owners and entrepreneurs-to-be who can leverage the full power of digital marketing will become and remain leaders in the digital marketing space. Hence, go ahead and acquire a marketing degree. Doing so will help you research market trends, identify customer needs, develop solid marketing strategies, and much more. Not to mention, becoming a marketer will help you avoid the expense of hiring a marketing team.
Generally, a marketing degree covers retailing principles, product management, financial management, advertising, consumer behavior, and more. In addition, some marketing degrees also help students understand SEO concepts, use marketing programs, make digital presentations, etc. In the end, a marketing degree will enable you to understand everything from developing business pitches to managing blogs.
- Accounting Degree
Research and studies suggest that almost fifty percent of all small businesses in the US will fail within five years of inception. But what’s more alarming is more than eighty percent of these companies close up shop because they fail to handle their cash flow properly due to improper accounting practices. Therefore, an accounting degree can be a massive asset for aspiring business owners and entrepreneurs-to-be looking to understand financial management, planning, forecasting, and much more.
Another reason to obtain an accounting degree is that it enables individuals to analyze, assess, and manage business risks, a critical aspect of sound financial decision-making. While a bachelor’s degree will provide candidates with basic accounting knowledge, a master’s will help them learn complex accounting principles, taking their accounting skills to the next level. Usually, accounting program offers classes in business law, auditing, managerial accounting, financial accounting, statistics, etc.
While most universities and colleges offer the degrees mentioned in this article, it is wise to go for ones that provide you with the best value for money. More often than not, the most expensive degrees don’t end up being high quality. What’s more, you would be better off spending thousands of dollars on business improvement than education, especially if the degree doesn’t offer you the best bang for your buck! So, do some research, shortlist a few colleges and universities, and enroll in a program that adds value to your business.
