7 College Majors All Entrepreneurs Should Consider

If you have an entrepreneurial spirit, you may be more focused on getting your business off the ground so you can begin living your dream than you are about getting a degree. But the truth is that even entrepreneurs can benefit from a high quality education, and a degree could give you a competitive edge and the tools to set your business apart from the competition and achieve long-term success.

What are some of the best college majors for entrepreneurs?

1. Accounting

An accounting degree could give you all of the information and skills that you need to not only fund your startup, but also keep it going strong. Without a solid grasp of business accounting, you will be unable to understand your own finances. Therefore, if you want to be in control over every aspect of your business, consider at least taking a few classes in accounting so you’ll know how to read balance sheets, prepare your business taxes, consider assets and liabilities when making purchasing decisions, and more.

2. Business Administration

A degree in business administration will give you a well-rounded education on all aspects of running a business. Rather than focusing on a single department, such as management, marketing, or finance, you will be able to get a taste of every aspect of a company. This broad education will give you the tools you need to be a profitable entrepreneur who knows how to ensure the success of every department within his or her organization.

3. Economics

Having a thorough understanding of how the economy works is also a great way to ensure your success as an entrepreneur. From macroeconomics to microeconomics and everything in between, you will learn how to make wise financial decisions that will encourage your customer base to make more purchases. You’ll know about concepts like supply and demand, and you’ll have the knowledge necessary to price your goods and services in a way that will attract and retain buyers. Plus, you’ll learn how to work with statistics and data, which are an integral part of tracking the progress of any company.

4. Communications

As an entrepreneur, you’ll need to know how to communicate clearly, both verbally and in written form, in order to effectively lead and inspire others. As a communications major in college, you will learn how to clearly speak in public, and how to address a variety of people in the best ways. You will also learn how to improve your writing skills so that you can create proposals and content for print and the web. Ultimately, you’ll know how to get your message across, whether you are writing an email or preparing a presentation.

5. Graphic Design

As an entrepreneur, you will need to have an understanding of what color schemes and designs really attract the most buyers, so if you major in graphic design, you’ll be able to work with your art department to create stellar advertisements for print and web, and you’ll also know what it takes to create and launch a website that appeals to your audience and encourages conversions.

6. Psychology

Are you interested in really understanding how people think and behave so you can create a business that meets people’s needs and expectations? Then a major in psychology could be what you’re looking for. Learn how people make decisions so you can craft a business model that can even predict the way people will behave.

7. The Concept for Your Business

What is it that you want to center your business around? Are you interested in starting up a green business for the environment, or are you hoping to start a business in the world of entertainment or music? Studying the field that you’re most passionate about and that you want to enter as an entrepreneur will allow you to approach your business from a unique standpoint because you will really understand your industry and your target audience’s needs in a way that the average business owner doesn’t. So go ahead and study whatever it is that gets you excited to start a company of your own.

As you can see, there are a lot more majors available to entrepreneurs than those that are merely focused on business, and you can take classes in person or pursue online degrees in South Dakota and elsewhere. Sure, you can get a degree in business, which will be very valuable, but you can also go in a different direction and learn a specialty that will make you an even better business owner.

Originally published at inspiredm.com on April 27, 2016.