What should I major in if I want to start my own business? In today’s post, I’ll reveal the best degree for starting your own business.
I want to own a business what degree do I need
So, you want to start your own business? And, you want to be a successful entrepreneur, right? Of course, you do.
If you’re anything like me, when I first dreamed of starting my own business, you’re most likely a little scared.
I mean, starting your own business can be daunting. And, if you lack the experience or knowhow, it requires you to learn a lot!
To an outsider, it may look straightforward; however, creating a successful business from the ground up is no joke.
It involves brains, dedication, and hard work. Having a good business education can be extremely valuable.
You’re likely to ask yourself questions like; what should I major in if I want to start my own business?
In this post, I will explain the nine subjects that are important to know if you’re going to start your own business.
First things first, do you wonder how successful businessmen and women knew the secrets to success?
How did they know what to do and where to go while you don’t have a clue? The answer is simple: they educate themselves.
That’s right! Business leaders and entrepreneurs all have one thing in common; they understand the importance of learning.
Some of these successful names include Elon Musk and Jeff Bezos.
I don’t necessarily mean an academic education. A lot of highly successful entrepreneurs are high school dropouts who chose to learn outside of school.
None the less they spend a lot of time sharpening their business brain.
Thus, today, we talk about the importance of education for business startups and the nine subjects that can help you start your own.
9 Subjects To Should Major In If You Want To Start Your Own Business
Here are the best degrees to major in for starting your own business:
1. Major in Business Studies
This is what I majored in to start my own business.
If leadership and management are what you’re looking for, business studies will be the best way to go.
The syllabus helps you learn how to administer and manage your business in terms of leadership and decision-making, along with techniques that will help you start your business from scratch.
Pros
- The syllabus is easy to understand for business-minded people because the course is very targeted.
- It imparts skills that are basic to any business startup.
- Everyone in your class is also into business, which presents the perfect opportunity to network.
Cons
- Business studies alone will not help you with the other aspects of the business.
University Alternatives
- Knowledge Society – click here to join
This is an awesome online training platform that offers training videos from some of the most successful entrepreneurs.
You’ll learn everything from marketing and public speaking to sales a persuasion. All vital things for anyone wanting to start their own business.
Click here to get a 3 day trial for only $1.
- The 67 Steps by Tai Lopez – click here for access
Tai Lopez shares the 67 fundamental steps he took which took him from only $47 in his bank account to beings a millionaire entrepreneur who lives in Beverley hills.
These 67 steps have helped me along my business journey. He reveals lessons that you will not learn in university. A must for any budding entrepreneur.
Click here for access now.
2. Get a Business Finance Degree
Finance is essential for a startup business to know how to manage money. The investments, the expenses, the costs, and the profits, everything is a part of this course.
You’ll also learn how to read and write a balance sheet and profit & loss (essential for any business owner).
Pros
- It helps you to form financial predictions about the future of your business. This can help you to secure investors.
- It aids in making effective relationships and commitments in terms of time, efforts, and financial aspects.
- Measurements and assessments of your progress can be done if you have proper knowledge of finance.
Cons
- The subject matter can be a little tricky to understand for some.
University Alternatives
- The Rich Dad Summit – click here for the training
Robert Kiyosaki is well known in the entrepreneurial world for his awesome financial training. Get two days of training for only $1.
- Cardone University – click here to join
Cardone University has many modules around both personal and business finance. Teaching you how to manage, leverage, and grow your money.
3. Communication
While this may be surprising to some of you, communication skills are essential in the business world.
From communication with your business partners and employees, to being able to get your message across. Other aspects of the subject include creative writing, journalism, and blogging.
Making a draft, writing blog posts, and pitching business ideas to investors to convince them to climb on board is all a part of this subject.
The additional background knowledge related to technology will be a bonus help when you try to communicate with your clients and customers online.
Excellent communication skills can help you stay ahead of your competitors and know exactly how to make sure an idea will be approved.
Pros
- The subject will help you when making deals and finalizing contracts.
- It will also be of great help when trying to convince investors to join your team.
- Excellent communication is always a favorable trait for someone who wishes to be a good team leader.
Cons
- Communication is sometimes more of a skill than something you can learn. While you may be able to get the textbook knowledge and specific formats, the skill part of the subject comes with practice and personal grooming.
- The subject alone may be of little use unless paired up with a more reliable, more business-targeted major.
University Alternatives
- Knowledge Society – click here to join
Awesome training from world-class teachers on public speaking, leadership, and networking. All crucial communication skills required if you want to start your own business.
4. Marketing to Start your own Business
If you don’t reach the right audience, no one will even notice your services and products.
Doing proper promotions and creating effective public relations is an integral part of boosting and publicizing your business.
Marketing helps you learn the basics as well as the foolproof tips, tricks, and techniques for the efficient promotion of your work.
With this major, you’ll know what offers will do best for your business and how to reach a maximum number of target audiences. These are especially beneficial for startups.
Pros
- With this major, it will be easier for you to decide and pick a target audience and also know how to reach this audience adequately.
- Effective marketing strategies will increase your sales and profits through modern, efficient, and cost-effective ways.
Cons
- In some institutes and universities, this subject major is sometimes more expensive than the rest of the courses.
University Alternatives
- Knowledge Society – click here to join
You’ll have access to marketing training modules from some of the best entrepreneurs.
- Social Media Marketing Agency 2.0 – click here for the training
This online training is designed to teach you everything there is to know about online marketing and social media. Super useful information for any business owner.
- Facebook Blueprint – click here to start training
Facebook offers free online marketing courses; which are awesome and useful to any business owner.
6. Sales Process
Sales studies will teach you how to prospect, prepare, approach, present, and handle objections as well as closure and follow up of projects.
The subject is beneficial for literally all aspects of your business, especially the profit and loss sides.
Having a good education of sales processing will give you the skill and knowledge to manage as well as plan your sales and investments.
Pros
- You can take calculated risks and decisions when it comes to managing your sales and profits.
Cons
- The course is not available everywhere around the world and can be opted in only certain universities in every country.
University Alternatives
- ClickFunnels Training – click here to join
A sales tool that has revolutionized the way entrepreneurs and business owners sell online. They also offer the best sales training! I have truly learned so much about selling from ClickFunnels training.
Sign up for a FREE 14-day trial.
5. Computer Science
In the times when almost everything is modernized and digital, learning the computer is more of a necessity rather than a choice.
Make sure your business is digitally updated and technologically active, vital that you have enough knowledge on the subject.
Computer sciences give you precisely that. Some of the most successful entrepreneurs in today’s day and time have a strong computer background.
Not only is the subject relevant to stay updated and involved in the modern world, but it is also an excellent method to improve your foresight and see what the future might look like.
It takes you one step ahead of the game and allows you to be technologically creative.
Pros
- It makes you well-aware of the technological aspects of the business world.
- The digitalization of businesses is not only convenient but also efficient and cost and labor-effective.
Cons
- Being interested in computers and advanced tech is not everyone’s cup of tea.
- It might require extra effort from your side in terms of hard work if you are not a tech fan.
University Alternatives
7. Psychology
Psychology is a very underrated part of business studies. Understand your client’s customers as well as your investors.
Not only will it help you have a better understanding of the human brain and how it works, but it will also help you make better decisions regarding personal commitments and communications with other people in your field.
Pros
- You will be able to create better relationships with people that matter.
Cons
- Like communication, psychology is also a skill that develops through individual talent and experience, and books might not always be enough.
University Alternatives
- Knowledge Society – click here to join
Includes training modules that dive into the business aspects of psychology and buying habits.
8. Graphic Design
Many will agree that while this is an interesting subject, it is an equally competitive field.
While running a business, you will frequently come across occasions where graphic designing skills will be needed. From logo design to design a website, this can be a useful subject to learn abut.
Video editing is a similar skill, which is equally as useful to business owners.
Pros
- All startup businesses need graphic designers, so it is a required field to get into.
Cons
- As I said, it can be extremely competitive.
University Alternatives
- Udemy.com – Click here to check it out
This platform has great training and tutorials on photoshop, final cut, and more; to help you learn about graphic design and video editing.
9. Economics
While it does involve a lot of mathematics and students usually try their best to stay away from it, economics is one of the best, more versatile choices for business studies.
But it’s a myth that maths is all economics has. It involves other aspects, such as management of resources and distribution exchange and trade of money on micro and macro levels. Super useful for any entrepreneur.
Pros
- It can help you understand how your business can survive, thrive, and reach sky heights of profits.
- You will be able to take calculated risks and understand how the complex system of trade works.
Cons
- It does include a lot of math.
University Alternatives
- LinkedIn Learning – click here for access
The online training platform offers quick master classes on business economics.
Bonus Subject: Anything You’re Passionate About.
While these may be the necessary business-related studies and subjects, they are not the limit.
You can opt for any other subjects that you are passionate about. These include language majors, media, and environmental studies, etc.
Anything you love can be used when you start up your own business. Every subject has its benefits.
You just need to be creative enough to know how to use them properly.
Consider the kind of business you are looking to start before picking your major.
If you’re looking to go to university, the focus of which subjects you need to study and why is what kind of business you want to start.
The reason why this is an essential factor is that every niche or industry has specific fields related to it and vice-versa.
For example, you want to start a restaurant business, the experience and skills required may be food, health and hygiene, and communication.
This is entirely different from starting an e-commerce company; as here, your required skills maybe centered around computing and marketing.
So, by deciding the niche of your business, you can determine which subjects will best help you achieve your goals.
Frequently Asked Questions
As well as people commonly asking me “what should I major in if I want to start my own business?”, I also get asked a number of questions around the same topic.
So, here is my FAQ of the most commonly asked questions, and my answers.
Do I need a university degree to start my own business?
For most, a university degree or an academic background is unnecessary; if you have the money, the ideas, and access to the right individuals.
There are many ways to self-educate yourself on how to start a business.
That being said, the professional, sophisticated strategies of running and growing a business from scratch are not something you can bluff.
One way or another, you will need to need knowledge.
Some of this knowledge you will learn through the experience of running a business. This could be developing your leadership or communicational skills.
Other specific skills you will need to study. This includes subjects such as; finance and marketing.
Going to university and majoring in a subject is never a bad idea, and it can help you.
However, entrepreneurs rarely learn ALL the required skills they need to run a business from university alone.
Fortunately, in the advanced world we live in today, there are many excellent alternatives to school education.
These alternatives can save you both time and money.
We have access to resources, books, podcasts, online courses, and so much more. You can learn everything you need to run almost any business without a degree.
So, in my opinion, although it helps, a university degree is not compulsory to start your own business.
Below, I will reveal the nine subjects you should major in if you want to start your own business. And I will provide you with university alternatives; for those who would rather learn without school.
Although this is true for some industries, some business ventures may require a business degree.
For example, if your dream is to have your own dental practice, you will need a dental degree to be taken seriously.
What is the best subject major for entrepreneurs?
Like I explained above, each niche will come with its own set of required skillsets.
However, there are still many knowledgable subjects that pretty much every business requires.
The following nine subjects are have been handpicked for budding entrepreneurs and business owners.
You can go through them and see which one(s) for your requirements and preferences.
How do I know which business category to go into?
There are some rather simple steps to figure out which business kind is up to your sleeve.
- First, think about the subjects that you have chosen or completed your education. They will help you know which side of the business world you have a firm grip on
- Ask yourself where you want to go. Where do your interests lie? What is your mind attracted to? The business kind that you’re interested in will be the one that you’ll be most comfortable in. Interests can help you stay motivated and positive about your work. So make sure that you are genuinely interested in the business you’re about to start.
- Decide your budget. See what you can afford at the moment. If a startup business of your dreams is not looking like a possibility right now, postpone it, but don’t cancel it. Start with what you have and then gradually move towards your ultimate goal. Keep your mind fixed on where you have to be to stay focused.
How much will my education cost, and what will I earn back?
The answer to this question solely depends on the kind of subjects that you choose and the kind of business you are looking to start. It also depends on what university you are going to and whether or not you have a scholarship.
The outcome, however, depends entirely on how you implement the knowledge of your degrees to your practical life.
If done right, your startup business can help you earn back the cost of your education in no time.
The right methods, techniques, and patience can help you sow what you reaped, and that too, quickly.
Conclusion
While it may be true that money and ideas are essential to ensure your business is a hit, another critical determinant is your education.
Mentioned above are nine subjects that you can opt for depending on which category of business you want to pursue, along with why you need to have proper education beforehand.
It is a big investment in terms of time and money, so make sure you think it through and make an informed decision.
I hope by now you know what you should major in if your want to start your own business. If you have any questions, leave a comment below and I’ll get back to you as soon as I can.
