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3 Great Degree Options for Small Business Owners

3 Great Degree Options for Small Business Owners

Have you ever considered taking a different approach to your future than getting a 9 to 5 job? With the cloud, technology, and eCommerce all changing the way that the world works today, there’s never been a better time to decide to take a share of your niche market as an entrepreneur. While you don’t necessarily need to invest in a higher education to become a successful business owner, many professionals find that getting their degree delivers a host of professional and personal benefits to them in the long term. Enhancing your education gives you access to more technical skills, supports you in building soft skills (like communication), and makes you appear more credible to partners and investors too. The question is, which degrees are most likely to deliver the best results for an entrepreneur?

Business

The most obvious degree for any business leader to get is an MBA, or a similar certification focused on business management and growth. In these courses, you’ll learn about things like how to hire people and manage payroll, what it takes to balance a budget and keep track of taxes, and so much more. You’ll also have a chance to work on developing your own business plan and learn all about the different things involved in making your idea a success. There are plenty of different types of courses that you can consider, however the costs can be outrageous. Some of the more advanced options focus on building companies in a specific niche, like technology. Anything that gives you the basics on business law, expansion, and forecasting will be helpful.

Finance

Money is crucial to making a business work, and while there are plenty of software and accounting tools on the web today that can help to simplify the taxes and finances area of your company, you’ll find that a degree in cash management will deliver some excellent benefits in the long term. Your degree will teach you how to read things like income statements and balance sheets, as well as how to perform equations using statistics. A course in this area will be particularly beneficial to you if you’re planning on offering your services as an accountant or financial professional. However, any business leader can benefit from knowing how to keep their cash flowing smoothly.

Economics

Finally, speaking of money and its impact on business success – did you know that many of the leaders of the world’s top Fortune 500 companies started off by studying economics at college? Anyone who wants to start their own organization can benefit from learning more about how the flow of money works in industries all around the world. You’ll learn about things like pricing power, supply and demand, and how different factors can affect a company’s growth. Understanding how the markets of the world work takes a lot of time and focus, but by it you’ll gain a much deeper understanding of this space and how you can make your business a thriving success.


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by Dirk DeBie // Contributor to Businessing Magazine.

Opinions expressed by contributors are their own.