In a world full of plucky startups and multimillion-dollar businesses built by college dropouts, many entrepreneurs are questioning whether a business degree is worth it. Here are 5 reasons why we think it absolutely is.
Develop Your Communications Skills
If you want to lead at any level in business, communication is extremely important. If you are going to lead a business from the beginning, your communications skills need to be exceptionally sharp if you are going to survive.
Being a personable individual, able to sell a business is one thing. But you also need to be able to communicate efficiently with your team and, more importantly, be able to direct them to communicate more efficiently.
Learn the Fundamentals of Marketing
After communications, the next most important discipline to get down is your marketing. This is how you will let people know that your business exists. Without marketing, your reach is always going to be severely limited.
Anyone can put together a marketing campaign, especially given how easy it is to automate the online ad-placement process. However, without at least a basic understanding of how business marketing works, you are going to struggle to put together a coherent and effective campaign.
You Can Study While You Work
If you are currently working a job and are considering taking the plunge with your own business, you can study for a business degree while continuing to work at another job. If you check out this selection of UVA degree completion programs, you can see for yourself how varied your degree options are when you are studying online.
It doesn’t matter what type of business you want to start or what industry you hope to break into, studying online enables you to pursue that goal while you continue to work at an existing job.
Learn Basic Accounting and Budgeting
Accounting and budgeting are also very important skills for any business owner to have. Accounting is all about assessing your current situation and auditing your finances. Budgeting, on the other hand, is about working out how you will spend the money that you expect to make.
Obviously, managing money is important in business, but this goes beyond the usual financial management skills that many of us use in our day to day lives. In order to manage the finances for your business properly, it helps considerably to have a grounding in business accounting and budgeting specifically.
Find Yourself as an Entrepreneur
If you have an idea for a business but need time to refine it, studying for a business degree is the perfect backdrop for developing your idea. Many entrepreneurs go to business school with a clear idea of the business that they want to start. This enables them to focus their studies and to apply what they learn to the real world from the very beginning.
These are just some of the reasons that any aspiring entrepreneur should consider studying for a formal business degree. If you want to start your business in the strongest position possible, a business degree will equip you with the skills you need to succeed.