Finding ways in which you can improve the quality of your business can be difficult, and implementing those new methods can be even harder. One common way in which people strive to improve their business is by improving the skills of their team. However, we often forget that we can benefit from new skills as business owners, and that includes earning new qualifications for ourselves. Deciding on a degree course as a small business owner isn’t easy, and it’s important to choose something that is going to benefit your business and your ability to run it.
To help you with this choice, we’ve listed eight ideas for degree courses that could benefit most small business owners.
This is often the best choice for a business owner, especially if this is your first foray into both management and running your own business. Business management has a primary focus on the human element of running a business, providing you with essential knowledge, including business law, managing a team, keeping track of your finances, organising logistics, and developing your business plans.
Similar to business management, you could opt for a business administration degree. The key difference here is that this degree will focus more on the business itself rather than managing your team. There will be some transferable skills that will improve your team management, of course, but ultimately, you’ll be learning about things like locating new suppliers and managing a supply chain. Of course, it might be worth leaving this sort of work to someone in your management team, but if you’d prefer a more hands-on approach to these things, this might be the degree for you.
Finance Or Accounting
Something that many business owners would prefer to have qualified knowledge of is the management of their finances. Even if you end up hiring a dedicated accountant or financial advisor, it can be very beneficial to be able to understand your business finances to a similar level. If you aren’t going to hire a financial advisor, then you’ll be managing your budgets and funding alone, which means you’ll be held accountable for any issues or discrepancies.
Data Analytics Or Data Science
The part that data plays in business today is astronomical. Being able to identify certain patterns or trends can be very useful for a business owner and will allow you to make some quality decisions, furthering your success. Choosing from the data analytics courses on offer at the University of Stirling, for example, will allow you to learn the skills necessary for spotting these trends and utilising that data to direct your business. A course like this can be incredibly useful for a business owner, as you’ll be the one making most of the decisions for your company as a whole. Instead of relying on the advice of a data analyst, you’ll be able to understand that data yourself.
Another essential part of running a business today is your ability to advertise your services, products, and overall brand to the public. Having a strong working knowledge of marketing practices achieved via a digital marketing course can be very beneficial for a business owner. It will allow you to properly direct your marketing team’s focus, present useful ideas to your team and reduce the chance of friction between you and your content creators or social media managers.
There is a stark difference between understanding finances and economics. Financial or accounting experience will allow an individual to manage their money properly, which is incredibly useful, especially when running a business. However, knowledge of the economy, how money drives individuals, and how markets are influenced by society can also be priceless knowledge for a business owner. This will allow you to predict markets and the future reception of your products and services based on real-world evidence.
If you feel as though you might need some more experience in connecting with other businesses around the world, both in and outside of your industry, then a communication degree might be a good choice. Communication courses will help you develop skills that can be applied to your professional life, including finding new clients, negotiating deals, and arranging for business partnerships with other professionals. Communication is an essential part of running a company, so ensuring you have the right skill level in this area is very important.
Another possible idea for a degree course is, in fact, psychology. There is a lot to be learned about how to run a business effectively via the course above, but understanding how to manage your team can be just as important. Getting a deeper insight into how people work and think can be very useful and will allow you to tailor your management style accordingly. A psychology can be very beneficial for a business owner, as it will give you a better understanding of how to motivate your team and what signs to watch out for in people’s behaviour to help your employees stay happy and healthy during their work time. Of course, an HR team with qualified psychologists can be the better choice here, as studying your team can be very time consuming, taking you away from other important tasks.