Do you have a stellar business idea? Is entrepreneurship the right choice for you? Today’s generation, the millennials, believe in having autonomy and independence at the workplace. Since conventional job roles don’t offer such things, they are crawling into the business world. While some have impeccable ideas to kick start a venture, others leverage digital tools to run operations. Unfortunately, passion is not enough to keep your boat sailing in the long run.

At some point in time, you will come across ups and downs. It could be a liquidity problem, marketing pitfall, or an incorrect recruitment decision, putting the entire business in trouble. After all, running a business single-handedly without expertise, experience, and knowledge is no fun and games. Therefore, develop a keen understanding of the entrepreneurial world to ensure business survival and profitability.

Any idea where all entrepreneurs learn the tricks of the trade? Business schools. Whether it is the founder of Amazon – Jeff Bezos or the tech master – Elon Musk, they completed higher education before bringing their innovations to the world. Hence, before you undertake a risky venture and invest hefty sums of money in it, learn how the business and economies and work. If you’re wondering where to begin, have a look below. Here we are listing the most useful and valuable degrees for business owners.

1. Business Administration

Do you know the secret behind a fruitful business? Besides capital, strong leadership skills play a crucial role in the business world. As an owner, you should know how to make executive decisions and bring new company initiatives. And degrees like bachelors of business administration can help in becoming an aspiring leader and handle business operations in a better way. It would equip you with the latest industrial, marketing, tech-related trends, preparing you for leadership opportunities in the chosen field.

The program revolves around students’ core competencies and enhances their skillsets. It would teach you real-world skills that translate into industry expertise. As a result, you can position yourself for advanced positions across various organizational settings. You would help the finance manager with investment decisions and assist the sales team with CRM software.

2. Economics

If you notice, most of the country’s top Fortune 500 businessmen have a degree in economics. It educates people about the markets and economy where their business will be operating. Whether it is the volatile exchange rate or rising inflation rates – a degree in economics will help you ensure profitability amid uncertainties. Business owners will learn about pricing power, demand and supply fluctuations, and cost considerations. Likewise, they would also learn about what consumers value and where the direction is heading. In turn, you can make smarter business decisions and adopt brilliant strategies to level up your game in the future.

3. Finance

In today’s dynamic world, digital software and tools are making accounting effortless. You can generate income statements, financial statements, and cash with a single click on screens. However, when analyzing these statements and measuring performance, a degree in finance will come in handy. Although entrepreneurs hire finance managers, keeping a check-in balance yourself is imperative to eliminate chances of fraud. A finance degree will tutor you on tracking cash flow, performing in-depth analysis, and calculating ratios.

You will also learn to read financial statements and perform statistical equations, giving rich insights into the company’s performance. Above all, you would make more informed decisions regarding borrowing and financing to save the company from drowning in debts.

4. Human Resource

A team of well-educated and motivated employees is nothing less than a treasure for business. In contrast, unskilled workers with zero morale can ruin a business’s functioning in no time. The human resource team handles all the recruitment and firing procedures. Since the HR team can make or break the company, owners should know the ropes. A bachelor’s or master’s degree in HR will equip you with proficient skills, enabling you to handle all employee-oriented activities.

Also, having a degree under your belt can be quite resourceful, especially in challenging times. You would readily get a job as an HR expert in any reputable organization. It might sound surprising, but a human resource specialist salary is quite lucrative. Hence, you can also take up a part-time job while managing your business.

5. Marketing

With emerging digital markets, every entrepreneur must understand the mechanics of marketing to remain competitive. After all, it brings many opportunities to save money and expand customer business. Although short courses on digital marketing are quite useful, it is always preferable to opt for a specialized marketing degree. It teaches students to build a company culture, conduct market research, and identify target markets.

Similarly, you will also learn to tailor marketing strategies and target a specific customer segment on relevant forums. Additionally, you will discover how to establish a ‘unique value proposition’ for your business to give you an edge in the market. In short, a marketing degree streamlines your brand image while bringing more business.

6. Computer Science

Technological innovations are changing the business world, and it is time entrepreneurs embrace technology. In addition to hiring IT specialists, opt for a computer science degree to learn about the tech trends. You could create mobile applications to enhance the shopping experience for customers or start an eCommerce business. Besides this, you will learn different programming languages, helping you develop websites and software.

A computer science degree also covers security protocols, allowing business owners to invest in robust security solutions. You would also learn to implement firewalls and encrypted servers on online devices. After all, data theft and breaches have become a growing concern in today’s time.

7. Communications

Believe it or not, maintaining healthy relations with internal and external stakeholders is vital for business success. You have to ensure seamless communication in the entire organization while bridging the gaps between upper and lower-level management. Luckily, a degree in communication can help you brush up on these skills.

You will learn to reach out to people with more confidence and strengthen professional relationships. Likewise, these skills can come in handy for retaining customers. After all, effective communication makes customers feel valued, improving satisfaction and loyalty. Moreover, savvy communication skills can also help business owners maintain healthy relationships with vendors and suppliers.

Conclusion

Honestly, learning never stops for those who wish to excel in their careers. If you’re starting a venture after high school, complete your bachelor’s. Otherwise, if you already have an undergraduate degree in hand, pursue higher education. The specialized degree programs expand students’ skillset and educate them about new things while broadening their horizons. Above all, they prepare the new-age entrepreneurs for upcoming challenges in the business world.

Shift Frequency © 2021 – Most Useful (And Valuable)
Degrees For Business Owners