In the age of College Dropouts creating the world’s businesses, many question the need for a degree. A simple analysis will reveal that only 10% of all startups succeed according to this article. The important question is why do so many startups fail. “THEY STOP LEARNING & EVOLVING!” The key to learning is understanding the mistakes others make and improve. A business degree is mostly those degrees that teach you other mistakes. You learn this not to repeat the same in yours.
“You only have to do a few things right in your life so long as you don’t do too many things wrong.”
Warren Buffett, CEO of Berkshire Hathaway
What is a Business Degree
Business degrees are becoming increasingly popular among students. There are various specializations in a business degree. Firstly, the available business courses give you a clear idea of all the operational aspects of a business. Secondly, they allow you to specialize in a field of operation like project management, finance, marketing, or human resources. The options for a business degree could range from certificate courses, nano-degrees, graduation degrees to doctoral degrees.
Why do you need such a Degree
We all make mistakes. How would you learn if you did not make a mistake? Similarly, in business, everyone has made mistakes. This allows researchers to study and document this. A business degree uses case studies to help you analyze this. Using this data you can then develop solutions of your own. They may work or they may not. But you will learn the process of understanding how to solve business issues in the real world. You also get a perspective on how markets react to different products or services.
Who needs this
Not everyone is cut out for a business degree. It will purely depend on your career choice. Will you be managing a business? Would you be needing to make decisions in your jobs? Are you taking up leadership positions in your current or future assignments? If the answer to any of these questions is YES then this line of education is for you. You might choose to do a certificate course or enroll for a full-fledged degree or post-graduate program.
When should you decide to join
Many have asked this question and many have got different answers. This is because there is no right time for education. The simple answer to this question would be why do you need it. If you will be looking for progressions in a career, then the best time is after at least a year in the job. The reason for this advice is simple. You will know the line of work you are in. And you will choose your specialization after understanding the work you plan to choose. There are many who take up a Graduate Program like BBA or BFS. This is a great stepping stone to your business career. But this means you are also determined to take up management positions in the future. Every step of your education should focus on the same.
Where do you get your Degree from
Many colleges and universities are offering business degrees and courses. The simple math to follow while choosing your college/course provider is “Value For Money”. If you choose to do business you need to understand the value for your money. It is a thumb rule to choose wisely based on needs and not fancy degrees. We in India look at ROI closely for specifically this reason. Return on Investment keeps your bills in check and overheads low. Don’t fall for this well polished 100% Job Guarantee trick as this is the biggest scam of the Education Industry. Education is about what you learn and how you can use it. Its not about some job you have no interest in working. Take up positions you are passionate about. You will grow faster and will never feel the stress of work.
Conclusion
Finally, let’s not beat around the bush. A business degree is never a waste. Having a Law or Engineering Degree makes you an expert in your field. But any business needs you to understand a market. The money comes and goes in business. How you retain the most of this money is what will make you an efficient businessman. It may not mean you run the business. But the owner will always love someone who gives him/her the best bang for the buck.
