Many aspiring entrepreneurs will ask the question, “What’s the value in a college degree? Do I need one to succeed?” While this choice ultimately depends on the individual, there is significant value in pursuing a business or entrepreneurship-focused degree. Let’s put this into perspective.
According to a recent study – which surveyed nearly 12,000 of the wealthiest and most influential people in the United States (such as Fortune 500 CEOs, politicians, even billionaires) – 94 percent of the nation’s most powerful people had attended college. Forbes Magazine supports this by stating that those with advanced degrees are able to start and build their companies faster.
While it may not be essential for every start-up or entrepreneur, there is no doubting the value of a business entrepreneurship degree. An entrepreneurship education can help you reduce the learning curve that often comes with starting or running a business. Whether you are a new or seasoned entrepreneur, these programs can teach skills and provide you with resources that cannot be accessed when working all by yourself.
- Networking Opportunities and Access to Valuable Relationships
A business entrepreneurship program is full of motivated and hard-working individuals, many of whom will excel in their ventures after college. And, many entrepreneurship programs are taught by already successful business leaders. As a young entrepreneur, you can use these connections to your advantage by establishing good relationships that will carry over after college graduation.
Some institutions, such as Goodwin College, help aspiring entrepreneurs by facilitating internships or training programs in real business environments. As part of the entrepreneurship degree concentration at Goodwin, for example, students must complete a 180-hour internship capstone – not only does this provide hands-on experience, it also gives students the opportunity to make connections with others in their area of interest. These internships can result in job opportunities, professional relationships, as well as access to funding or other support for student-led ventures.
- Business Skills that are Critical to Success
Half of all businesses fail after their 5th year, according to recent statistics. Oftentimes, this is because businesses run out of cash, do not hire the right team to support them, or do not have a strong business model and strategy to keep going. You can avoid becoming a part of this statistic, by learning the right business and management skills ahead of the game.
In a business administration program (or similar), students are required to learn the ins and outs of business management – taking courses in economics, business law and ethics, accounting, budgeting and planning, personal finance, customer relations, and leadership as a whole. In a business entrepreneurship program, these skills get honed even further. Students learn:
- Business planning and development
- Managerial accounting skills
- The fundamentals of marketing
- Small business management
- Communication and networking skills
- Critical thinking and problem solving skills
The list goes on. Essentially, earning a business entrepreneurship degree prepares you to lead and run a business. You learn to hire (and train) the right people. You learn to develop and present business pitches. You learn how to craft great business plans, engage business partners, and maintain a competitive edge. You learn how to evaluate market sustainability, and gain market share. You learn how to develop budget plans and strategic plans, as well as effective forecasting. Many start-up founders who haven’t been to college can’t always say the same.
- A Better Perspective on Your Next Steps
College, for many, is a time of exploration. Whether you are fresh out of high school, or an adult who has experienced (and is shifting) careers, there is always more to explore in the field of entrepreneurship. Even if you already have an end-goal in mind – such as developing products, ramping up your venture, or bringing a business idea to life – you will walk away with a better understanding of what you want to pursue and what you don’t want to do.
A business entrepreneurship degree program gives students the opportunity to explore areas of intellectual interest. As explained further by Forbes, “College affords students a chance to satisfy their curiosity… and learn not only what they want to do with their lives, but also what they don’t want to do. Once a graduate enters the work world, she loses this luxury of time and flexibility.”
Many students begin mini-ventures in college, which also helps them better understand their goals. In fact, throughout Goodwin’s program, each student builds a business plan that is relevant to their career aspirations and that also integrates the skills and knowledge learned in through the entrepreneurship curriculum. They learn what works, what doesn’t work, what they like to do, what they don’t like to do, and ultimately, what it’s going to take to get their start-up off the ground and running.
This is just the beginning of the gainful take-aways you get from a business degree focused in entrepreneurship. On top of leadership skills, business management strategies, professional relationships, and a goal to drive you forward – you will also leave with the resources to launch your dreams. At Goodwin College, students have access to a lifetime of career services and a network of employers for counseling support.
Not to mention, it doesn’t take long to get there. At Goodwin, the business degree programs are offered in an accelerated format for those who want to get into the workforce fast. Students aiming for the associate entrepreneurship concentration can finish their associate degree in just a matter of months.
As an aspiring entrepreneur, you already know a little bit about self-sufficiency. You know which choices will drive you forward. You know how to go after success, and you know how to make the most of your opportunities. College education is no exception. Earning a business entrepreneurship degree can open up many doors in today’s competitive business arena – are you ready to take the first step?
For information about Goodwin College’s business administration degree with an entrepreneurship concentration, please do not hesitate to call 800-889-3282 or request more info online.
Goodwin College is a nonprofit institution of higher education and is accredited by the New England Commission of Higher Education (NECHE), formerly known as the New England Association of Schools and Colleges (NEASC). Goodwin College was founded in 1999, with the goal of serving a diverse student population with career-focused degree programs that lead to strong employment outcomes.