What Does it Mean to Study Entrepreneurship?
Small business and entrepreneurship degree programs can be a crucial tool for professionals wishing to participate in new or small business ventures. Like other business degree programs, these programs usually start by covering the obvious functions such as accounting, management and marketing. However, they are also likely to focus on product or service development, start-up funding, purchasing and distribution issues, and client base development.
Do You Have What it Takes to Be an Entrepreneur?
Being an entrepreneur requires strong drive and determination, self-discipline, decisiveness and being comfortable with wearing all the hats your business may need. Many entrepreneurs work much more than 40 hours a week, for a salary that starts low and has no guarantees of increasing. But, if you like being in control of the operation, enjoy variety and change, and thrive on taking risks, you’ve found the right area to pursue.
The business world has seen many changes, and the usefulness of an entrepreneurial spirit is increasingly apparent to many larger organizations that encourage managers to “take ownership” of their responsibilities. Small firms can work faster, with more flexibility, and take more chances than the large retail corporations. Some entrepreneurs use their unique talents for “getting the ball rolling” by selling their companies and then going on to start new ones. And as the market opens up, competition gets fiercer. Many aspiring entrepreneurs take online college courses in business to stay ahead of the game.
Types of Entrepreneurship Degrees
Many businesses fail due to poor planning, lack of knowledge, and naive expectations when it comes to turning a profit. Increase your chances of success with a solid educational foundation — there are many different kinds of entrepreneurship degrees and courses available. In particular, many working professionals are turning to online college classes in order to build the skills they need without sacrificing the financial security of a full-time job (that is, until they’re ready to become their own bosses). Studying online may help you to continue with your regular work schedule while you enhance your entrepreneurial skills in a degree program.
Bachelor’s Degrees in Entrepreneurship
A bachelor’s degree in entrepreneurship can help you develop an understanding of the unique factors that affect entrepreneurial and small business endeavors. The coursework may touch on anything from case studies to team projects, principles of Internet use and web design, and simulated exercises in computer applications and systems integration. If you’re already working, you may even be able to earn credit towards your degree for your work experience.
What Can You Do With a Degree in Entrepreneurship?
In order to launch their companies, most entrepreneurs and small business graduates initially find themselves working in sales and/or retail. No matter what your product or service, you can’t succeed if no one patronizes your business. In sales, your focus is to connect and build relationships with consumers. The job descriptions can range from point-of-sale (direct contact with customers) to advertising, career counseling, marketing management, product representation, realty, and travel and hospitality.
Retailing is specifically selling directly to the customer. It calls for skills such as understanding consumer behavior and needs, communication, problem solving, predicting trends, demographic sensitivity, product evaluation, and feedback.
What might your day-to-day job look like if your business succeeds? Business managers generally have a bachelor’s degree in business or business administration, with a specialization appropriate for their industry. The common job description is to develop, oversee, and organize operations and the hours are often longer than lower-level careers.
Retailing managers look after all aspects of operations where goods are being sold. They may manage inventory, maintain sales floor displays, hire any additional staff needed, and uphold good customer relations policies. Salary ranges depend on the size and type of the store, as well as the product or service being sold.
Entrepreneurship Certification, Licensure, and Associations
Although professional organizations, trade publications and websites exist for entrepreneurs and small business professionals, no official recognized professional designation exists at this time. You are more likely to need certifications or licensing for service-based businesses such as financial planning, taxation, real estate, or accounting. If you plan to work as a consultant, membership in a professional organization is a crucial tool for building a client base.
When you incorporate your company, be sure to look into local regulations that may govern your industry. You might need additional licenses or business certifications, depending on your business.