Deciding what you want to major in can be difficult, especially since there are so many fields of study out there to choose from. However, if you’re thinking about going into business or starting your own, one of the best entrepreneurship graduate programs might be a good choice for you.
Many might look at entrepreneurship and decide that it’s not the ideal major, especially since you can just study business. After all, business programs often have entrepreneurship classes available for you to take — so it’s almost like you’re hitting two birds with one stone. However, as fields of study, entrepreneurship and business are different from one another in many ways.
Entrepreneurship focuses on developing your effectual reasoning. The focal point of effectual reasoning is that the future is unpredictable. And because it is unpredictable, it’s important to focus on the means available to you today rather than designing specific plans and goals for the future.
When you’re studying entrepreneurship, you learn concepts like bootstrapping, which is when a person starts a business with only a little capital, relying on personal cash or profits from another company rather than outside investors.
Rather than focusing on how many credits to graduate, you might want to think about what you can learn from an entrepreneurship degree instead — especially if you plan to go to graduate school.
Why study entrepreneurship?
If you’re still on the fence about studying entrepreneurship, there are many other reasons why it’s still a great degree to go for.
- Studying entrepreneurship can help you hone your business-related skills. You can improve your financial literacy, networking skills, strategic thinking skills, marketing skills, confidence, and mindset through this degree. These traits and skills all contribute towards making a successful entrepreneur.
- This field of study can help you learn from others’ experiences. As you network and build a support system, you can meet other like-minded people with whom you can grow. These people can offer advice and guidance, especially if they have more experience than you.
- Entrepreneurship can help you bring innovative ideas into the mix. This degree often provides innovation training that can help you keep your business versatile and agile, allowing you to bring innovative and disruptive ideas to the forefront.
- This degree can help you validate your business idea(s) and start on the best possible foot.
Best graduate programs compatible with entrepreneurship
Once you have your entrepreneurship degree, you may find yourself wanting to go into a graduate program. If you’re wondering what graduate programs work best with entrepreneurship, here are a few ideas:
- Finance - If you have an entrepreneurship degree, a graduate degree in finance may benefit you greatly. As an entrepreneur, having a better understanding of finance or accounting can help you improve your chances of success at a business venture. Finance degrees, alongside entrepreneurship degrees, can be applied to any business you start.
- Marketing - Studying marketing for your graduate degree can help you greatly in your future business endeavours. As an entrepreneur, knowing how to figure out your target market is important — just as important as knowing how to tailor marketing strategies that fit.
- Business - It just makes sense to go for a graduate degree in business when you already have an education in entrepreneurship. A graduate degree in business, such as a graduate degree in hospitality management, can help you find great employment while you’re in the middle of developing your business ideas and plans, and it can also help prepare you for your future startups.
- Communications - In business, there’s no doubt that you need effective communication skills that can help you create and maintain good relationships all around you. A graduate degree in communications can also provide you with more opportunities to work in other industries should you choose to seek employment while you start your business.
Getting a degree in entrepreneurship is still a fantastic choice, especially in today’s world — and in a future of uncertainty.
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