Education is the key to success in business. While this may not sound all that surprising to most, some believe they can get by without putting in the effort to get a formal education. This can be a dangerous approach, especially if you are betting your future on a business you plan to run yourself.
Small business people don’t work with a net. They can’t afford to fail. Giving yourself the best possible foundation for success is both prudent and practical. If you are planning to run your own business and you intend to pursue higher education, here are some courses of study you should consider.
The topmost indispensable skill for a small business owner is accounting. The numbers that make up your business will be part of everything you do from sales reports to taxes to business plans.
An inability to speak intelligently about these subjects in terms accountants understand is likely to become a major impediment to the success of your business. Don’t presume you can leave this vital skill up to others. If you have the opportunity, even if you choose not to major in the subject, take at least one accounting class and get a good grade in it.
Knowing how to read and write is necessary for any citizen. Knowing how to read and write well is necessary for any businessperson. The fastest route to irrelevancy is to attempt to participate in any sophisticated business market having not read well and been unable to express yourself with the written word. Spelling mistakes, lack of a clear voice and an inability to do research doom even the most talented entrepreneur long before they ever get close to any level of success. A language degree teaches the skills necessary to communicate in the modern economy.
Getting products in front of the people likeliest to buy them remains one of the most elusive skills in all of business. Granted, a marketing degree is unlikely to uncover a superhuman ability to bring customers and products together with flawless efficiency, but it will give a businessperson an appreciation for the challenges inherent in finding customers for products that might not have an obvious place on the shelf. Good marketing sensibilities are one of the key skills necessary for anyone to get a business off the drawing board and into cash flow.
One of the major challenges in finding a good course of study is to make certain you are thinking about your business instead of your employability. There is a big difference between flying jets and running an airline.