Being self-employed is a goal that many people have these days. As more of the businesses are operating online, self-employed seem to be a more attainable goal than looking out for a job.
So, if you are intrigued to start your own business someday, earning a relevant degree can be a huge help in kick-starting your journey with in-depth knowledge and expertise. Not sure which degree program resonates better with your goal? If yes, here are the five most valuable degrees for business owners.
Read on to explore in detail:
1. Business Administration
When it comes to becoming an entrepreneur or business owner, it is crucial for you to get a deep understanding of all the business processes, from developing to running and maintaining. That is why an associate, bachelor’s, and master’s degree in business administration is considered the gold standard for business owners and aspiring executives.
So, if you’re wondering what to do with an MBA degree or BBA, you will be surprised to know that greater career flexibility and in-depth business knowledge can bring along.
Choosing this degree program will help you learn management strategies, business development, human resource management, and finance.
2. Business Management
To some extent, a business management degree is similar to business administration. However, there are some key differences. Business management solely focuses on the human aspect of managing the business rather than focusing on the strategies to achieve organizational goals.
Depending on your future goals, both degrees can be helpful for you. However, if you want to gain expertise in management and plan a good human resource strategy, this degree is the right choice for you to consider.
3. Marketing
In the digital age, where local, global, online, and offline markets are becoming highly competitive, marketing has become an essential tool for businesses. If you want to operate a business successfully, a degree in marketing is the right tool to gain all the necessary skills.
Getting a degree in marketing will help you to identify the target markets, trends, and needs of customers. This way, you can develop a powerful strategy to market your business effectively.
You can utilize the knowledge for your business marketing operations without investing more expenses in hiring a team to market it.
4. Accounting
When it comes to operating a business, keeping the finances on the right track is one of the significant challenges for owners. More than 50% of businesses indeed fail within the first 5 years because of cash flow problems.
That is why getting a degree in accounting can be an asset for financial forecasting, planning, and more. This way, you will have a better understanding of cash flow and accounting principles to save the expense of hiring other professionals.
5. Finance
Finance and accounting may seem similar degrees, but they are different on many levels. A degree in finance can help business owners understand the financial circumstances on a broader level.
The students learn financial analyses and strategy development that will help grow or expand the business opportunities.