Starting a business is beyond exciting – it is exhilarating. When you own a business, you make crucial decisions that determine your long-term success. The pressure that goes along with business ownership is baked in. Business owners who understand the varying operational factors and underlying mechanisms of the business often find it less stressful.
A great way to increase your business acumen is to pursue higher education. Whether you are currently in high school or have been out of the classroom for a while, it is never too late to earn a degree.
How a Business-Related Degree Can Help
There are a plethora of responsibilities that go with owning a business. Having a degree can help you navigate these responsibilities with some deeper understanding of finance, business ethics, marketing, and other pertinent issues. Building and sharpening your skills in these areas can make your experience less overwhelming. The connections you make during college can also become important networking resources for you in the future, from your college professors to friends you meet along the way. View everyone as a potential opportunity for learning, connection, and growth.
Another value gained from earning your degree is in the credibility it lends as you begin your business pursuits. The knowledge and credentials you earn in your degree program are further indicators of your readiness for this venture, and it may elicit more confidence from lenders and business partners. Dedicating your time to earning a degree shows that you are invested in yourself and your business. It also shows that you have the knowledge to back up your commitment. As you consider a degree program, it may be wise to consider one that can support your financial wisdom as this is a significant factor in keeping your business afloat.
Degrees for Financial Education
There are many avenues you can choose for financial education. An accounting degree is one that can benefit business owners in a variety of ways, from taxation knowledge and best practices to bookkeeping skills. A degree in accounting is truly a win-win prospect as it is transferable to a variety of settings and the skills you learn are highly marketable if you decide to have a sideline consulting business. Online courses and degree programs can make earning your accounting degree even more convenient as you can take your classes when and where it works best for you.
Business administration and management are also valuable degrees that give you a broad skill set for owning your own business. You can also earn a Masters in Business Administration (MBA) and learn how to create a large-scale business and branch into a variety of locations and specialties. A degree can help you take your business ideas to the next level. Through learning and understanding the regulations that businesses need to abide by, you can strategize your business plan accordingly. Having this advanced knowledge may save you from making as many mistakes as an untrained person just starting out, and you may even earn more money with your business.
Degree and Earning Potential
Earning a degree prior to starting your business may offer the pleasant surprise of greater earning potential. While this may not be the case for every business owner, on average, those who have a business or accounting degree earn more over the span of their career. Business owners with a degree can often manage many of the complex tasks of bookkeeping, creating a business plan, and marketing that people without training may have to hire out for – saving a bundle on these costly tasks.
If you are considering starting a business, think about the many ways a degree can offer you an advantage. You can earn your degree online and start your own business in no time.
Next, check out our blog – Playing the Organizational Game – part two of our P.I.E series.
