For many people, owning a business is the stuff of dreams. You get to be your own boss, set your own rules, work when you want, and do the things you love to do. Sadly, most people never get to bring their business ideas to life because they have no idea where to start. About 95% of those who successfully started up failed within the first year. Clearly, running a business takes a lot of knowledge and skill. If you want to be prepared to launch your own start-up, consider obtaining one or more of the following degrees.
Master’s in Business Administration
The MBA is the most highly-prized business degree because it gives students the fundamental skills to successfully launch and manage a business. Obtaining the degree usually requires two to three years of study after completing an under
graduate degree. Getting into an MBA program is a great feat itself as most applicants need three or more years of working experience to be considered. MBA programs typically offer various concentrations from MBA information systems to financial strategy and allow students to have real-world experience working with big name corporations.
Bachelor’s in Accounting
Accounting is known as the language of business. The field primarily involves recording, calculating, and maintaining financial transactions. Accounting skills are necessary to to keep track of all financial activities including: payment for rent, utilities, employee salaries, products, repairs, and more. Gross income and expenses must be accounted for if you want to understand how much the business is profiting or losing. If you don’t know where every dollar goes, you will have serious problems in the long run.
Bachelor’s in Finance
A degree in finance opens your mind up to all matters about money. Specifically, the field is concerned with the risks, rewards, and time value of getting money. You will study subjects such as investment banking, securities, and corporate finance, and you’ll spend a lot of time delving into financial philosophies.
Bachelor’s in Psychology
Psychology is perfect for entrepreneurs because they deal with people all the time. Having a foundation in psychology gives you greater insight into the way people think, behave, and react as a result of their genetics, immediate environment, history, and more. With this knowledge, you will know how to handle a wide variety of situations in the most appropriate manner to get the most beneficial results. You will be able to communicate, influence, and persuade others much more effectively with a psychology degree.
Bachelor’s in Marketing
What use is having an amazing product that nobody has ever heard of? There is none. Marketing is crucial to any business owner because you need to make the product or service you’re selling attractive to the masses. If you study marketing, you will learn how to research and identify the people who would most likely become customers, what they want and look for, and how to advertise your business most effectively to that target market. Knowing how to make something appear more desirable is really the gist of this degree program.