Benefits of earning a bachelors degree in business for entrepreneurs

Can a bachelor’s degree in business help entrepreneurs succeed? We’ll look at the world of the entrepreneur, what’s in a bachelor’s of business degree program, and where there’s overlap.

Inventors vs. Entrepreneurs

Many of us confuse inventors with entrepreneurs. Inventors are those geniuses that have the spark of an idea that can change the world. Whether it’s in chemistry, biology, engineering or computing, we could point out many inventions that have changed the world. These folk are experts in their fields, and have pushed the boundaries of their art. However, an entrepreneur, according to investopedia.com, is…

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

Nothing in there about invention, and nothing about expertise. Simply put, entrepreneurship is about business. That’s not to say that entrepreneurs are not passionate about their art, creative, inventive or geniuses. It just means that their focus is on establishing, often risky, businesses and reaping the rewards for success. Often entrepreneurs take inventions and use them as part of a business to disrupt existing business models, such as Apple and digital music, Amazon and home shopping and Tesla and electric vehicles.

What does an entrepreneur need to know?

Entrepreneurs need to be able understanding any business and any industry they wish enter or disrupt. Such knowledge married with business skills produces market, product and financial insights that are the basis for successful business decisions. Along with business acumen, entrepreneurs also tend to be excellent written and verbal communicators with a track record of deal making. A third knowledge area is finance, stock and capital markets, which gives entrepreneurs an edge when it comes to funding and scaling their business.

Can a bachelor in Business degree help entrepreneurs?

As we mentioned earlier, today’s entrepreneur needs to understand how to run, grow and finance their ventures. While highly educated CEOs may earn millions for running huge corporations, they’re not usually the ones at the helm of startups. Patriot small business says your average entrepreneur is between 34 and 45. Indeed.com suggests that they are visionary, persuasive, tenacious risk-takers. But no-one says they’re reckless, all of these characteristics are underpinned by knowledge and skills.

If you want to jump into the business world, you need to get a background in how business works and the environment in which it operates. An online bachelor’s in business degree like one from Daemen University includes courses around…

• Finance and financial accounting
• Business organization and management
• Economics
• Marketing
• Communication, writing, and composition
• Negotiation

These courses can take you from being just a person with a great idea to one who really understands the ins and outs of building a business around your idea.

Can a Bachelor in Business degree make you an entrepreneur?

A dose of reality here. Just like we said that having a great idea doesn’t make you an entrepreneur, so having a business degree doesn’t make you one either. However, if you have a thorough grounding in business, you are in a better place to identify opportunities that may change the world and to be able to run a business that will.

In the meantime…

Even if you don’t create Facebook or Google within a few weeks of finishing your degree, you can still use your bachelors in business to gain real experience in real companies. A bachelors degree in business from Daemen University sets you up well to enter business careers in sales, finance, operation and marketing.

One thing is for sure, you can never have too much knowledge to start a business, so it’s a great idea to get started today.