Although some of the most well-known business pioneers, like Mark Zuckerberg and Steve Jobs, were college dropouts, they’re the exception to the rule. Most entrepreneurs built their businesses from the ground up using the knowledge they gained from college and university.
However, not all degrees will give you the information necessary to prepare for company ownership. You need to complete the right program before you enter the business world.
Top 6 Degree Subjects That Will Help You Start a Business
Most entrepreneurs will start by pursuing a business degree or some specialty program that covers entrepreneurship. However, the following degrees will be the most useful for your plans.
1. Degrees in Business Administration
Pursuing a Bachelor of Science in Business Administration is one of the best things you can do for your budding business. Not only will business administration teach you leadership skills, but you’ll also learn about the US economic system, marketing, sales, accounting, and HR policies.
If you don’t plan on opening a business after you graduate, a business administration degree can prepare you for an entry-level position in the business sector, including financial services, marketing/sales, management, and human resources. It’s one of the most versatile degrees.
2. Degrees in Economics
An economics degree offers graduates high level statistical and mathematical skills and the ability to apply economic principles to business-related problems. For these reasons, a degree in economics can help with business planning, research, management, and marking/sales.
If you combine economics with a finance degree, you’ll be equipped for jobs in law, politics, education, health, and many others. Either way, a standard degree in economics will help you understand how money is distributed and exchanged, which is essential for any business.
3. Degrees in Computer Science
When you open a business online, you’re putting yourself at risk for malware, ransomware attacks, and phishing scams. It’s estimated that the average cost of a data breach is $3.86 million. If you want to protect your assets, a computer science degree can help significantly.
Computer science isn’t just helpful for cybersecurity; it’s also integral to business as a whole. Most of your employees and clients will share information via an online network, so you need to know the ins and outs of Cloud computing and communicating in our modern digital world.
4. Degrees in Industrial Engineering
Industrial engineers apply mathematics, science, and engineering know-how to interact with complex integrations and operations. They’ll use statistical analysis, design, quality control, planning, communication, operational management, and more to improve systematic processes.
Although many entrepreneurs will stay away from industrial engineering, it’s actually beneficial for business owners. Industrial engineers have to understand project and cost planning, policy analysis, and supply-chain management, which are endlessly useful for creating a business.
5. Degrees in Marketing
Without a marketing team, you’ll have a hard time keeping your business alive. That’s why basic marketing skills are essential for any entrepreneur who wants to build brand awareness, a unique branding voice, and tone consistency. You just can’t survive without these concepts.
Although marking degrees focus on growing, not necessarily building, a business, they’ll still help you research your target audience and what marketing methods you need to reach them. This knowledge is still vital for building your brand’s reputation before you’re open.
6. Degrees in Psychology
Understanding human behavior is a key aspect of successful entrepreneurship, and a Graduate Diploma in Psychology can provide valuable insights into this. For instance, UTS Online has a great Graduate Diploma in Psychology program that blends psychological theory with business applications.
Many of the best entrepreneurs have a deep understanding of people because it helps them sell more products. Students who study for a degree in psychology can understand the relationship between problem behavior and a solution based on individual personality traits.
Understanding why people do what they do can help you plan better marking strategies and maintain a cohesive company culture. You’ll also be able to improve your HR department through expert communication, a high degree of empathy, and incredible research skills.