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Do You Need an Entrepreneurship Degree?

strong-black-woman-entrepreneurship

It’s no secret that famously successful entrepreneurs like Steve Jobs and Mark Zuckerberg dropped out of college to chase their business dreams. However, they didn’t follow the typical path for entrepreneurial success.

Most entrepreneurs undergo a fair amount of education, certifications, and other training as they pursue their business potential. Sometimes this comes through workplace experience. At other times it’s accessed on a college campus or through online classes.

If you’re considering starting a business, here are a few reasons you may want to explore a degree in entrepreneurship to back up your future efforts.

What Is Entrepreneurship?

An entrepreneur is a person who leads a business. However, they aren’t brought into an existing business as a highly-paid CEO or president overseeing a lucrative operation that’s already in full swing. They organize and launch new businesses, helping them become well-established operations over time.

In addition, an entrepreneur works from a position of risk. Unlike a C-suite executive with a guaranteed salary and benefits, an entrepreneur puts their skin in the game. They often stake significant portions of their own time, money, and other resources before a business idea has even had a chance to get off the ground.

The high risk and intense demand of the entrepreneurial experience means it only fits certain lifestyles. On the one hand, those who can manage stress and anxiety and are willing to learn from failure may thrive in an entrepreneurial environment. On the other, those who crave predictability and constancy often find that launching their own business is too overwhelming.

There are many reasons to risk being an entrepreneur. Some of the benefits include:

  • A high earning potential;
  • Tremendous flexibility;
  • The ability to be your own boss;
  • Pursuing your own professional interests;
  • Joining other entrepreneurs in the thriving 21st-century startup culture.

While becoming an entrepreneur has many advantages, it’s important to go about launching your business the right way. One of the first questions to ask is if you need additional academic training to increase your chances for business success.

What Can a Master’s Degree in Business or Entrepreneurship Do for You?

If you want to start your own business, it’s tempting to assume that the academic path won’t be worth the trouble. However, many affordable MBA degree programs can help you develop critical skills that will prove invaluable later in your entrepreneurial journey.

Here are several of the biggest reasons you should consider attending business school if you’re planning on starting your own company.

All-Encompassing Look at Various Aspects of Business

No matter how well you prepare, you’ll likely never be truly ready to start your own business. You’ll have to learn as you go along.

This is one area where a business degree can help. From basics, like accounting and marketing, to nuanced subjects, like DEIB initiatives and ethical fading, going to school can give you a comprehensive perspective of the many different aspects of business. 

There’s value in learning about business and marketing tactics that have worked in the past. However, the business world is constantly evolving — especially in the 21st century, defined by technology and informed consumers — and past formulas for success often don’t apply even a few short years after they’re invented. 

Going to business school can help you stay abreast of the constant change. An MBA in digital marketing can give you access to current trends and insight into future potential, from innovative ways to finance a business loan to the latest in digital marketing and social media strategies and beyond.

Building Technical Skills and Getting Low-Stakes Practice

If the first time you apply learned business knowledge is while you’re on the job, it can lead to a lot of unnecessary risks. By pursuing an entrepreneurship degree, you can learn in an academic setting. This doesn’t just help you attain knowledge; it also allows you to practice applying that knowledge in low-stakes circumstances with an educator close by to provide feedback.

Access to Successful Mentors and Alumni

Speaking of educators, if you attend business school, you also tap into a massive network of business-focused academic professionals. This starts with professors but it also extends to your classmates, many of whom will continue on to start businesses alongside your own.

By attending school, you allow yourself to fill your future professional network with valuable names and faces that can help you further down the business-building path.

Improve Your Problem-solving Skills

Business owners spend the majority of their time solving problems. It doesn’t matter if you’re seeking permission to start a business, doing the grunt work to get things moving, hiring someone to delegate work to — there’s always an issue that needs to be addressed.

Business school provides the opportunity to hone your problem-solving skills. For instance, you may be resourceful and have a good gut instinct, but pursuing something like an MBA in business analytics can help you learn how to pinpoint and address a specific problem before it becomes a major issue.

Should You Start a Business Without a College Degree?

It’s certainly possible to launch a startup without a business degree. However, the benefits of going through formal training are often too good to pass up.

Remember, you’re already taking on an exceptional amount of risk by starting a business in the first place. There’s no need to compound that risk by also denying yourself essential business knowledge and critical concepts that can help you.

From accounting to administration, HR to executive education, consider the gaps in your entrepreneurial knowledge that need to be filled before you open up for business. Then look for classes that can satisfy those needs and equip you with the best available tools to help your business succeed in the coming months and years.

Contact Information


Toby Burris
Montclair State University
Student Recruitment Manager

973-655-6015
onlinemba@mail.montclair.edu

Do you have questions about the online MBA? You may find it helpful to watch a webinar hosted by Student Recruitment Manager, Toby Burris.

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By completing this form and clicking the button below I consent to receive communication from a representative of this insitution by phone, text or email regarding your educational program request.

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Certificate of Eligibility Received:
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Tuition Reimbursement Docs Received:
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