4 Great Degrees for New Age Entrepreneurs
While it’s true that many of the top entrepreneurs today were dropouts, one of the things many people forget is that most of them were still able to benefit from a top-shelf education. What they also don’t tell you about is all the people who tried to get into business without a degree and failed.
At the end of the day, having an education will always benefit you as an entrepreneur. It will allow you to spot issues before they manifest and avoid some of the simple, yet disastrous mistakes that many first-time entrepreneurs commit. And, if you have your eye on one particular industry, then you could become an expert in that field and get a huge advantage over the competition. Here are four great degrees for new-age entrepreneurs.
Computer Science
Computer science is one of the best degrees to have not only as an entrepreneur but for anyone who wants to play an active role in the new economy. This is one of the most versatile degrees you’ll find and you’ll learn how to set up your own networks, mine them for information, monitor and protect them against breaches, and manage data. You’ll also be able to set up cloud applications for your employees and secured remote systems. These are all advantages that will allow you to run a smoother, more efficient operation while avoiding cybersecurity issues and potential lawsuits.
Getting a computer science degree would also allow you to start a business related to computers. You could get into the hardware business, for instance, or you could assist companies who want to set up their networks or offer remote IT support. This is an area with a lot of demand right now as more companies are trying to become more agile and flexible, and you could end up with more business than you can handle.
Either way, having a computer science degree can never be a disadvantage as a business owner. At the very least, it will allow you to save a lot of money on IT management, which is something all businesses have to spend on nowadays.
MBA
Some people were beginning to think that the MBA is becoming obsolete because of the increasing number of non-MBA entrepreneurs in the tech field, but recent events have shown us how important having a deep understanding of things like project management, supply chain management, finance, and accounting can be.
Entrepreneurs who have an MBA had a diversified supply chain before the pandemic and didn’t have to set up one in panic at the last minute. They also knew that black swan events can happen at any time and had enough cash reserves ready. They knew how to pivot and diversify their operations and going remote for them was a breeze since they were already familiar with multiple agile management methodologies and remote management tools. They were better able to forecast and rearrange their operation so they could weather the storm too. This is why the MBA is still highly relevant in this day and age and why all aspiring entrepreneurs should consider getting one.
The best part of all of this is that you can get an MBA completely remotely these days thanks to online MBAs. You could get an MBA online from a prestigious school like Aston University and have everything needed to dominate in this new economy. This is a great option whether you are completely green or already own a business. This is also a good option if you already have a degree in engineering and want to have a more complete skill set.
ECommerce
Getting an eCommerce degree could also be a good choice if you want to get into that line of business. eCommerce is easily one of the most democratised industries there is, but again, those who have a formation will have a significant advantage over the rest.
With an eCommerce degree, you’ll be able to truly understand how online marketing works. You won’t have to spend hundreds and sometimes thousands of pounds on failed campaigns. You’ll know which methods would work best for your business, and how to use them. You’ll be able to monitor your results as well and have a better grasp of marketing budgets.
Ecommerce students also get a basic foundation in web design which is very important. They are familiar with multiple eCommerce business models and know how to maximise them. Someone who wants to get into the dropshipping business, for instance, will be much better at things like sourcing and distribution.
Ecommerce entrepreneurs with an eCommerce degree know what a sourcing agent is and don’t have to spend hours looking for reputable suppliers on AliExpress. They don’t let their suppliers hold them hostage or ruin their reputation by not delivering because they know how to use fulfilment centres and coordinate orders.
Some of the things entrepreneurs have to spend years mastering are second nature to people with a real understanding of eCommerce. They can set up sales funnels almost instantly and know how to monitor and maximise them. They also know how to maximise conversations and run advanced analytics on their website. They don’t have to spend money on a site designer or for site maintenance and will usually enjoy higher margins. So, if eCommerce is something that has always interested you, going for an eCommerce degree could be a good option.
Business Analytics
If you don’t know how to manage analytics as an entrepreneur in this day and age, not only will you never be able to compete with the big players in your field, but you might never be able to stay afloat.
Entrepreneurs with an understanding of data forecast better, are more efficient and manage their workforce better. They are also able to reduce their overheads, identify waste in their processes, and spot upwards and downward trends easily. They can squeeze maximum ROI from their marketing efforts too. This is why business analytics should be on the top of the list of majors for any entrepreneur who wants to succeed in 2022 and beyond.
These are some of the degrees you should consider if you want to be a successful entrepreneur in this day and age. They offer a variety of skill sets that could help you run a better business and improve your chances of success, so give them all a closer look and see which one you feel would help you reach your goals.
