What is the purpose of college? The answer depends on who you ask. For instance, an eighteen-year-old person may mention experiences. That individual’s parents may mention something about preparing for the future. College is supposed to help an individual prepare for the future and most aspects of it.
If one plans to pursue financial success as an entrepreneur, how can college prepare them? What college courses are good for those pursuing the entrepreneurial spirit? Here are a few:
Accounting
Most young businesses fail. Many times, it’s not due to a poor product or work force, but poor money management. In the first few years, it’s difficult for a start-up to flourish; that means good accounting is needed to pinch as many pennies as necessary.
Young entrepreneurs can benefit from learning accounting basics, understanding how to attend to a profit-and-loss sheet. The insight gathered is priceless when applied to a new business in need of tight money management.
Marketing
Even the best products and services need attention. How do customers learn of a brand’s products and services?
Marketing is essential. How can your brand attract the attention of your consumers on and offline? (Online marketing is yet a whole other need for brands looking to make an impact on search engines, a popular method of shopping in today’s world.)
Young entrepreneurs can benefit from understanding the different channels of communication and areas of focus in Marketing classes.
Writing and Composition
Communicating to peers, employees, and a targeted market is crucial for any entrepreneur. Writing courses allow a young person to learn methods of proper written communication, also to think in logical and succinct segments.
What do you believe readers think about those who exercise poor grammar, logic, and all-around writing skills? Even if the rationale of a writer is sound, the reader’s reception is influenced by the format and writing skills of the provider. Learning to write well is a necessary asset for any aspiring entrepreneur.
Psychology
Entrepreneurs soon find that business consists of interactions with people. Psychology studies the human mind and human interactions.
Studying Psychology can benefit entrepreneurs in various ways – from basic understanding of people and the logistics of relations, to learning how to intrigue and influence the buying decisions of targeted markets. Furthermore, Psychology allows one to develop managerial and peer-to-peer skills, applicable to everyday interactions and long-term business success.
Economics
The economy is often discussed, but few understand why the economy is in its state. It involves a number of factors, including consumer spending, rates of exchange and lending, the housing market, the cost of the American dollar in regard to other currencies, etc.
Understanding why a given economy is in a particular state allows one to understand where and for how long to place current assets in hopes of improving one’s financial standing in the short and long term, a much-needed skill for young entrepreneurs.
Management
Being an entrepreneur is a solitary pursuit; yet, most find themselves surrounded by partners or employees, warranting the application of a managerial skill-set. Entrepreneurs quickly realize that passion is not enough to build a successful business; a good team that is motivated and managed in the best possible way is the key to success.
Being a poor manager places an entrepreneur in a disadvantageous situation, affecting the business’ ability to graduate and become successful. Learning how to manage, as well as how to identify those who can effectively manage, is advantageous to any college-bound entrepreneur.
ABOUT AUTHOR:
Gwen Stewart is a business development professional and writer for Outbounding.com on behalf of http://www.ShareFile.com. Her line of work requires she has reliable ways for hosting backup storage as well as a solid strategy for meeting tight deadlines. Any spare time she can scrape together finds her hiking, reading and enjoying the company of great friends.
