If you’re thinking of becoming an entrepreneur one of the dilemmas you might have is whether to go to university. Will it help you become better prepared or should you skip it and jump straight into business?
Some people are adamant that a university education is a crucial stepping stone to a good job or even to starting a business. Others have had plenty of success heading straight into the world of business without going to college or university. Some people who have had years of experience in work or business find that they want to address gaps in their education by going back to study.
Whatever position you’re in, if you’re considering going to university here are some of the most useful subjects to study:
Let’s start off with the obvious choice, studying business. Of course this is a good option for anyone interested in business, whether they plan to start one or not.
Studying business will help you understand how businesses operate successfully and what issues can affect them. You will learn vital skills like analytical thinking, problem solving and gain an understanding of financial data.
Most courses balance a bit of theory and practical work so that you can gain experience in project management and presentation too.
Another plus side to studying business is that you can meet plenty of other people who are interested in setting up their own business one day. You might end up meeting your future business partner.
A background in finance and accounting is always useful for anyone looking to make money. It means you’ll be paying special attention to cash flow and your balance sheet and hopefully will be able to spot problems before they arise and you run out of cash.
If you’re able to do your own accounts in the beginning, this could also save you some money. Then you can hire one or outsource it as your business starts growing.
Having a solid understanding of how businesses market themselves can come in handy when it comes to promoting your own business. You’ll be used to studying advertising campaigns of other companies to see what works and what doesn’t. You’ll also have a good understanding of digital marketing and where it fits into the modern business.
Marketing can help you step outside your own business and think about the customers themselves. It can help you shift your focus from what your business needs to what your target market needs, which is where you’ll be making your money.
An economics degree will help you understand markets and the factors that affect them. You’ll learn about patterns and fluctuations in consumer behaviour and economic growth, which affects all businesses. Being aware of things like this could help you become better prepared for economic difficulties.
Though these subjects are useful to study, it doesn’t mean you can’t become successful without them. Plenty of people build successful businesses without going into higher education at all or by studying something completely different.
No matter what you study, you’ll pick up something that will come in handy later on. Most courses will require you to put your analytical thinking into practise, build up your communication skills and also introduce you to a network of likeminded people.
Which subject would you pick? Do you have any others to add to the list? Please leave your thoughts in the comments!
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.