Why A University Degree Is Still Valuable When Planning Your Own Business

piggy bank get paid to go to school

If you aspire to become a business entrepreneur, you may feel you do not need to complete a higher education degree! Indeed, it is true that many startup owners have launched their businesses without formal qualifications. However, it can be argued that a university degree is highly valuable when planning to start your own business. So, if you’re interested in learning more, stay with us as we explain why this is the case!

University Degrees for Business Owners: Which Type of Higher Education Qualification is Best for Entrepreneurs?

When choosing which university degree to complete when planning your own business, an online MBA degree is an excellent choice. To clarify, an MBA degree is also known as a Master of Business Administration. As part of this tertiary qualification, aspiring business entrepreneurs can acquire important skills, develop valuable knowledge, and learn the essential foundations of starting, launching, and growing a business. 

The units of study usually covered during an MBA degree often include core study units of Management Communication, Organizational Behaviors’, Business Analytics, Digital Marketing, and Accounting and Finance for Managers – to name a few!

Further, students completing a Master of Business Administration can also choose to complete elective units such as Business and Corporation Law for Managers, Building a Professional Portfolio, Data Management, Human Resource Management, and Strategic Planning and Management. MBA students can also focus on dedicated areas of specialization, such as units that cover managing and leading people, information and knowledge management, and, if interested, health services management specializations.

The Benefits of Higher Education: How Completing a Tertiary Degree Can Help You Start Your Business

Completing a higher education degree is invaluable if you want to start your own business. Indeed, many experts on the subject argue that it is very important to earn a degree before opening a business. This is because you will acquire essential knowledge and skills and develop key personal attributes to help you along your business journey. Some of these include:

Strong Communication Skills 

First and foremost, to become a successful business owner, you need to develop exemplary communication skills. You will need these not only to communicate with clients but also with potential business investors and mentors. Indeed, networking with established business mentors can be invaluable to your business growth. And to be able to network, you need to be able to communicate effectively.

Management and Leadership Capabilities 

Part of being a business owner is being able to lead other people. As your business grows, you will likely need to employ staff. As such, you need to be able to manage and lead people effectively. Of course, leadership skills can also translate into personal attributes that a business entrepreneur requires.

For instance, strategic decision-making, time management, organization, and planning skills are all central to being a good leader. They are also transferable attributes that can assist you in becoming a successful business owner.

Credibility and Confidence

By completing a tertiary qualification, your clients and business investors will have faith that you have a sound educational foundation to back up your business acumen. This makes you appear more credible and will help to build your reputation as a reliable and trustworthy business partner and operator.

Further, having a solid education will also help you to build your confidence. You will be able to draw on the knowledge you acquired during your tertiary studies to make measured, grounded, and educated business decisions. 

Career Prospects For University Graduates: What Are My Options Upon Completion of My Business Degree?

Of course, once you have completed your university degree, your career plans and aspirations may change. Indeed, with the multitude of career prospects available to MBA graduates, you may even want to pursue a completely different career pathway to business entrepreneurship!

For example, you may prefer to seek employment within an established organization or company. This, of course, will alleviate the stress and pressure associated with opening a startup. If you are particularly ambitious, you may even aspire to reach the top of the company that employs you. As an MBA graduate, the possibilities are endless. Attaining a coveted C-suite role, such as becoming the CEO of a company, could even be your destiny! 

Undoubtedly, completing a university degree is a good choice for any individual with ambitious career aspirations. But for a budding business entrepreneur, it is an even better decision. Indeed, completing a tertiary qualification benefits potential business owners, such as the knowledge and skills you will acquire during your studies. These skills include strong communication, leadership, and management capabilities. As well as this, and perhaps most importantly, your education will give you the credibility you need to back your business venture.