Starting your own business is a big undertaking that involves plenty of general business knowledge, and knowledge about small business management and functions, as well as knowledge specific to your industry. An education in business can help prepare you to start your own business, but there are a lot of programs out there to choose from. An associate or bachelor’s degree in business administration will give you most of the general knowledge you will need to succeed in your endeavor, but what about some of the more specific knowledge? Here are a few degrees that can really help you on your way to entrepreneurial success.
1. Entrepreneurship
A degree in entrepreneurship will give you all the core foundations of business administration such as financial management and business law, but it will also teach you some of the finer points of running a small business such as building a business plan, developing a business, and how to market your business. Entrepreneurship is a great general option and will work in your favor no matter what type of business you plan to open.
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2. Business and Information Technology
IT is a booming field right now and is expected to remain so for quite a while. If your plan is to open an IT business, then there are plenty of industry-specific topics that a degree in business and information technology can teach you about. If you are not planning to open an IT business, there is still the fact that your business will involve computers, so knowledge of IT will help keep your outsourcing costs down.
3. Program Management
As business owner, you will need to learn how to manage. You may have employees and suppliers, and you will definitely have resources and technology to manage. A project management program will teach you about organizational leadership, risk management, and conflict resolution—all of which will help your small business succeed.
4. Finance
Finance is an area of business that is generally covered in a general business degree, but concentrating on finance can help your small business succeed. No matter how great your idea is or how well organized you make your business plan, the fact is that your business has to make money. A finance degree will teach you how to manage the amount you are putting into your business in order to get the most out of it. It may also decrease your need to hire an accountant.
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One of the most quoted statistics in small business is that nine out of ten small businesses fail, but that isn’t really true. According to The Washington Post, the actual statistic looks more like 4 out of 10 fail after six years. Therefore, your chances of success are a lot higher than a lot of people will tell you. Get the right education, choose a great niche, and hire the right people, and your small business will be booming before you know it.
Author: Anica Oaks is a professional content and copywriter who graduated from the University of San Francisco. She was raised in a big family, so she’s used to putting things to a vote. Also, cartwheels are her specialty. You can connect with Anica here. Information credit to the Brandeis project management program.
Published: April 7, 2015
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