Want to know the best degrees for entrepreneurs and aspiring small business owners? You’re in the right place. The best college degrees are in the areas of business administration, marketing, finance, and even accounting made the cut.
While Steve Jobs and Mark Zuckerberg dropped out of college and started two of the most successful businesses in modern times, many more entrepreneurs were able to gain valuable information and preparation by completing a college degree.
The key is to pick a major where you will learn the skills to plan, start, run and grow a successful business. With that in mind, here are some degrees for entrepreneurs who want to start their own businesses.
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14 best degrees for entrepreneurs
Economics is the study of how people, companies, and countries make choices. So when you start a business, it’s vital to understand how this complex system operates.
You’ll learn about the creation and distribution of goods and services, as well as topics like business cycles, inflation, unemployment, and more. In addition, economics helps entrepreneurs understand consumer behavior, tax law, and trade rules.
While you can work as an economist and earn $108,350 per year, you can also take it to learn about how the world of business works.
2. Business administration
Having strong leadership skills is important for building a successful business. Making good executive decisions and managing expectations are also important for turning an idea into a business.
You will learn more than just how to run a company. You’ll learn the theory behind business structures. In addition, the courses will familiarize you with organizational strategy, management, marketing, finance, and human resource management.
It’s one of the best college degrees for aspiring entrepreneurs.
Engineers understand key business aspects like supply-chain management, cost planning, project management, and policy analysis. In addition, they have the strategic thinking and ingenuity it takes to create a business.
4. Computer science
Information Technology, web development, and computer programming are the basis of many new lucrative businesses.
Understanding computers, computer programming languages, digital marketing, and other aspects of the digital world is an advantage for budding entrepreneurs.
Besides learning problem-solving skills to stay creative when faced with complex technical issues, you’ll learn to market digital products and services, like programs, apps, videos, websites, and more.
Studying accounting gives entrepreneurs essential skills like understanding and managing the financial aspects of any business.
As an accounting major, you’ll understand balance sheets, preparing income statements, and preparing tax returns.
A degree in accounting will prepare you to do more than just crunch numbers. Accounting is the key to financial forecasting, cash flow management, and decision-making.
An understanding of business finance is essential for starting and running any type of business.
A degree in finance gives entrepreneurs critical knowledge tracking cash flow, assessing a company’s overall financial health, and an eye for detail that’s useful in any industry. That’s crucial because more than 80% of businesses that fail do so because of poor cash flow skills.
You’ll learn how to create balance sheets, read graphs, and calculate profits. You’ll also understand financial statements, accounting techniques, and business management skills.
Marketing is the ability to reach your target audience and make them aware of the value and availability of a product or service and is a vital part of every business.
You learn tricks and techniques for creating effective promotions to publicize your business, products, and services.
You will learn how to prepare, prospect, and approach customers. Also, how to present a pitch, handle objections, and close the sale.
Psychology is an often overlooked area of study for future business owners.
Studying psychology helps you develop a way of communicating and interacting with people that can influence their buying habits and behavior.
It helps you understand how the human brain works and how best to work with different types of people. For example, it will help you understand customers, employees, investors, and business partners.
9. Environmental science
Environmental science is a degree choice for entrepreneurs interested in participating in the green economy. Today, ecological entrepreneurs or eco-entrepreneurs develop disruptive startups that make beneficial green changes in people’s lives.
Having knowledge of and a background in environmental science enables you to have insight into good products and services for the environment.
Participating in a degree program that teaches the basics and key elements of entrepreneurship is a good choice for someone whose ultimate goal is to start their own business.
You’ll learn how to assess the viability of a business idea to determine whether there is a lucrative market for it now or in the near future.
This major teaches students to identify a target market, do market research, create a business plan, secure funding, and manage business operations.
11. Business communication
When you learn the basics of communication and language arts, you’ll gain confidence in your writing, speaking, and presentation skills.
This degree will give you a clear understanding of using language and tone effectively in emails, presentations, and verbal communication.
12. Business management
In a nutshell, business management is the study of how to make businesses more efficient. It focuses on the human aspects of managing a business, including employees, the environment, and the public. It’s perfect for those who want to work with people,
You’ll study how to motivate your team and deal with workplace issues.
Although similar to business administration, a management degree emphasizes the human aspects of a business. As a result, you will get deep insight into people’s behavior, employee motivation, and organizational behavior.
13. Project Management
Project management skills are essential for entrepreneurs because the subject introduces best practices into any business. In addition, setting realistic goals will become easier for you once you learn various methodologies for managing projects and teams.
Here are some methodologies you will learn:
- Agile and Scrum will help you with flexibility in the workplace.
- Six Sigma Black Belt is perfect for ensuring the quality of work is superb and error-free.
- Pareto Analysis will ensure that you’re focusing on the right things.
- Finally, value Stream Mapping will keep you on top of things, so your project stays on schedule and within budget.
14. Organizational Leadership
After getting this degree, you can start a business as a consultant, working with employers to develop an effective management strategy. Your focus will be on building a team from the ground up and fostering a collaborative work environment.
Your job will be to define a clear company culture to promote productivity and engagement. An industry leader in the field of organizational leadership is a master at leadership and empathy. You’ll be a go-to person for companies. They will hire you because you will know how to keep people motivated and engaged during slow times and maintain a company afloat through crises.
Best degrees for entrepreneurs: The bottom line
While 46% of business owners don’t have a degree, that means more than half do. While it’s possible to learn everything you need to know about business through trial-and-error in the real world, the fast track to success is earning a business-related degree.