What are the best degrees for entrepreneurs? Well, these days we tend to think that Entrepreneurs should either drop out of college or just never enroll in the first place. This is clearly because the media serves us examples of billionaires who never got their university level degrees – people like Richard Branson and Mark Zuckerberg are probably the best examples, but there are many more. But you don’t need to be exactly the same as them to become successful. Also, they are incredibly gifted individuals, far more gifted than most entrepreneurs. There’s a reason most businesses fail. So it might be better for some entrepreneurs to enroll in a college degree. There are some university courses that will help you as an entrepreneur. Subjects like accountancy or corporate law are among the best degrees for entrepreneurs. But you ask what are some others? Well here are my top 10 Best degrees for entrepreneurs and business people.
Psychology
Having just a basic understanding of psychology can help you get ahead of your competition when it comes to things like negotiating and selling. But knowledge of psychology will improve every aspect of your business. An entrepreneur who knows the human mind will surely be great at marketing. The career of Edward Bernays taught us this. He was the nephew of Sigmund Freud, who used his uncle’s principals of psychoanalysis in business. Corporations would hire him to perfect their public relations campaigns. He used human nature to persuade people into buying products. His most impressive example of this is probably when he convinced millions of women that smoking cigarettes was a feminist statement, leading to a surge in cigarette sales.
Computer Science
Computer science might not spring to mind when you think of the best degrees for entrepreneurs. But it would give you the skills to break into many emerging industries. You could learn how to write apps, or build website features. So you could literally learn how to create your business in a course like this. So many unicorns were created by a small group of people who knew how to write apps. Snapchat was one. Even Facebook was created in a similar way. These skills are in high demand when it comes to employment, but they’re also extremely valuable in startups. Even Google was built on the back of computer science.
Accounting
Accounting is among the most useful skills to learn in life, and especially so in business. When you start your own business you’ll probably need to do your own finances. So you should definitely try to lean at least the basics of accountancy. If you’re really committed, maybe you should enroll on an accounting course. We can see the benefits of accounting in intrepreneurs (people who work well within businesses rather than starting their own). They tend to be promoted far quicker if possessing an accountancy qualification. Doing your own finances are really difficult so most just hire an accountant. That’s always an option but it’s much better to at least know about accounting yourself. It will help with investing, and it always helps to know what your accountant is doing with your profits.
E-commerce
Believe it or not, you can actually do a degree in E-commerce. E-commerce is online transactions with companies like ebay. When you order something on Amazon, you’re taking part in E-commerce. E-commerce is one of the fastest growing industries, with the big stores focusing on emerging markets like India and Brazil. Several multi-billion dollar businesses have been made in the E-commerce business and maybe you can add another to that list. If you are thinking that way, it’s probably a good move to actually study E-commerce at university. Maybe you’ll get some work experience from it, and confidence to start your own online store. Maybe you’ll find a brand new way to break into the industry. You never know.
Economics
Economics is vital to understanding the way politics work, and is equally vital to understanding the international banking industry. It’s vital to understanding how investment works. Knowledge of economics will give you the edge when dealing with venture capitalists, and other corporate influences. It will change the way you see the markets, and therefore the way you market your business. Even a basic understanding of macro-economics would be of undeniable benefit to your professional life no matter what industry you’re in. If your business is involved in big data in any way, you’ll absolutely need some understanding of economics, or at least some understanding of how to use statistics.
International Business
International Business sounds like a bit of a silly degree title but it actually has a huge upside. It’s basically just a regular business degree with a focus on doing it all over the world. The biggest benefit is that International Business degree courses usually offer a work placement in a different country. So you’d spend a whole year employed in a foreign nation. That’s a fantastic experience for an entrepreneur. Not only might you achieve relevant work experience, but international travel, and an understanding of the challenges of doing businesses in places with different cultures from your own. So it might be useful for those looking toward emerging markets.
Business
And that brings us onto the most obvious subject on this list – a regular degree in business. It’s definitely true that business degrees have never been a requirement for entrepreneurs. But think about it like this: does it hinder you to study business? The answer is no. But does it help you? The answer is yes. A degree in business will surely help you if only due to the factual academic knowledge you learned there. Business courses spend time studying successful entrepreneurs and rapidly growing corporations. You’ll learn what famous entrepreneurs did right, and also what they did wrong. And the latter is far more important. To be successful in any way, you need to either be incredibly lucky or constantly learn from the mistakes of others.
Media
On a list of the best degrees for entrepreneurs I can understand why you might be absolutely horrified to see media. But the world of business has changes greatly in recent years. These days, all of us entrepreneurs should have an understanding of the media business. People like Gary Vaynerchuk recommend running you business as if it were a media company no matter what industry your in. Use social media to promote your business. And use traditional media too whenever given the opportunity. Find a good media course, and you’ll be so far ahead of your competitors that they won’t be able to see you.
Law
Law has long been considered one of the best degrees for business. It’s among the most valued degrees for employers in any industry because of the wide range of skills and knowledge it would give you. When you start your business you’ll immediately realize the importance of understanding the legal implications of everything you do. There will be people who issue lawsuits against you, and for obvious reasons this would be less devastating if you have some understanding for corporate law. In running a business, you’ll need to jump through all kinds of hoops made of government regulations. These regulations are enshrined in law.
Marketing
Some call marketing the greatest form of art in the world. They are the ones who get us to spend our money, the ones who push brand awareness into our homes. If you wish to achieve success as an entrepreneur, it might help to become a little bit like them. Marketing should always be number one in lists of the best degrees for business because it’s needed to grow your brand. Any attempt to push your personal brand, or that of your business, is marketing. It’s all marketing.