For many people, the ultimate career dream is running your very own successful business. Being an entrepreneur can be incredibly fulfilling, since you’ll be working toward your own goals and dreams. You won’t have to answer to anyone, and you will be able to take control of your daily schedule.
Keep in mind, however, that most small businesses ultimately fail within a year of opening. If you want to become a successful entrepreneur, prepare for the role with an appropriate college degree.
An online associate or bachelor’s degree in business can help you reach success in all of the following ways.
Learn the Basics of Business Law
A part of running a small business that many entrepreneurs don’t always think about is the legal side of the equation. Starting a business means applying for a business license, incorporating and deciding whether to start a corporation or a limited liability company.
If you’re not comfortable making these important decisions just yet, a course in business law might be the right step to ensure you create and run your business correctly.
Understand Introductory Business Accounting
Even if you have a handle on personal accounting, business accounting can be a completely different job. Not only will you need to handle incoming money and outgoing expenses, but you will have to set aside income for things like business taxes.
You may need to study cyclical accounts for your industry to determine whether a slow season will require extra cash on hand, and you may need to meet with several banks and investors in order to secure investments to start your business.
Part of a bachelor’s degree in business will include courses in business accounting, which will help you handle each of these financial situations with skill.
Handle Human Resources Issues
In the initial stages of your small business, you might not have to worry about human resources. After all, you may be the sole employee of the business. Over time, however, growth brings the need for additional help.
By taking a human resources course as part of your online bachelor’s degree in business, you will understand how to correctly interview and hire new employees, how to train them quickly and efficiently and how to know when and how to downsize or fire an under-performing part of the team.
Know How to Market Your Business Online
In today’s business landscape, mobile advertising and marketing is king. Many of the people who will discover your small business will do so through social media platforms or mobile advertising. Even if you plan on being an entrepreneur for a very small local business, you should be familiar with SEO, ad words and meta data.
If those things don’t sound familiar to you, then enroll in a bachelor’s degree in business. Part of the curriculum will include basic advertising and marketing courses to help you stay ahead in the digital age.
Earning an online degree in business isn’t a necessity if you want to become an entrepreneur, but it can be a clear advantage on your road to a successful small business.