What Is The Best Degree For An Entrepreneur?

What to study if you want to be an entrepreneur?

• A tech startup is built around those who can conceive or develop the product; engineers and technical experts.
• However, for the expansion of the business, skilled resources are required that can actually help them adequately market the products.
• Through establishing or strengthening relationships with the influencers, ensuring simultaneously that the human resources are motivated, coupled with the increased gains by the efficient fiscal plan.
• On a debate of degrees that fuel tech startups, let's just look at those who have made a mark in the field, and whether degrees have helped them.
• To name a few, Larry Page had CS, Mark Zuckerberg had Psych, but is a CS drop out, Bill Gates was a pre-law and CS drop out, Steve Jobs was in Liberal arts.
• With a calligraphy course, and a dropout, Musk had a degree in physics and applied science, Jeff Bezos had a degree in EE, and C.S.Dell was a pre-med, Hewlett had EE.
• Bloomberg had EE, with an MBA.
• So do you find uniformity? Actually no.
• But in some ways, it matters.
• Read on to find out.

The MBA Degree

What does an MBA degree give you?

• The MBA core learnings are in areas of-

1. Accounting And Financial Management
2. Business Economics
3. Corporate Finance
4. Human Resource Management
5. Leadership
6. Entrepreneurship
7. Change Management
8. Marketing And Research Tools
9. Business Law
10. Consumer Behaviour
11. Global Marketing
12. Information Technology Management
13. Risk Management And Training

• So, loosely translated - all the basics to run and manage a company.
• Since MBAs are specialists in all of these domains, they can contribute to the growth of the company.
• Even tech startups, such as those in Silicon Valley, have now recognized the importance and the role of professional MBAs.
• The benefits of a business degree are numerous for tech startups.
• Firstly, upward mobility.
• It gives entrepreneurs an edge with thorough knowledge of all perspectives of planning, driving, operating, and also protecting the business.
• Students learn business plans that are based on short-term and long-term goals, funding options, about private companies and public companies, the stock market, and various other issues related to business.
• Advantages for entrepreneurs are numerous, as it is useful in expanding and establishing the business.

The CS Degree

What does a CS degree give you?

• The CS core learnings are in areas of-

1. Modern Physics
2. Data Structure And Algorithms
3. Data Analysis And Interpretation
4. Programming
5. Engineering Graphics And Drawing
6. Economics, Circuits
7. Software Systems Lab
8. Operating Systems Lab
9. Artificial Intelligence
10. Computer Networks Lab

• Let's look at their utility today, as most of the big players in the market have an app to ease shopping and connecting, or even for those studying account data easily for customers.
• So resources who know software and app development can create more powerful and useful app-based businesses.
• With this degree, an entrepreneur possesses the all-round skills to build a virtual business.
• Today, various colleges offer added programs that have surfaced during the past decade.
• Some examples, like blockchain development classes that protect cryptocurrencies, and is the foundation for many high-level security programs.
• Benefits for entrepreneurs are many with this degree for a tech startup, as new technologies and trends appear every day.
• Computer science equips entrepreneurs with a base of knowledge for those changes.
• With a competitive advantage across the industry. Online security knowledge can help protect the business.

What do Tech startups need?

1. A clear business idea, an understanding of the product which is related to its creation, operation, and the security of service to offer, knowing the customers, the suppliers and the investors, for which, the help of business ideas, as well as know-how of the product in detail, is needed.
2. Here for those qualities, an MBA might be a better choice.
3. But to vouch for the product quality, that’s something only an expert can do; probably this is whereas a CS degree holder will have an edge.

Advantage of MBA over CS

So, let us compare the areas of expertise with the MBA or CS degree for tech startups:-

MBA is required for marketing in tech startups

• Marketing is an essential component of any business, irrespective of the nature of its business.
• Insite of high-quality products and innovative solutions, it is required for marketing and promoting the product or business.
• It is associated with identification or generation, segmentation, targeting, pricing, and many other factors that demand specific expertise.

For expanding the business MBAs are required

1. This requires documenting the building processes, best practices, developing communication channels, and laying the basis of a scalable organogram for running a 100 or 200 employees organization, with well-defined policies.
2. MBAs understand organisational hierarchies and their importance.

For market research, MBAs are required.

• With dozens of enterprise-level analytics and market research tools available for helping innovators and startup founders, MBA's can identify trends and make informed decisions.
• They can interpret data for the business decision-makers, with a focus on specific key areas.

MBAs can Network With Influencers

1. Though startup founders are engineers or designers and other creative professionals being specialists on the core skills, yet business needs a network.
2. And not just specialists who prefer to work in isolation to reach influential circles and build long term business collaborations.

Startups need MBAs for the management of human resource

• MBA's are effective communicators and are trained to manage their employees, know their needs and expectations, and help them progress with the company.
• This is where MBAs can be of use with specialisation in human resource management.
• This can help attract accurate talent, make them key stakeholders in business progress, and use their talent to produce more innovative alternatives.

MBA’s can aid in Customer Service

1. Startups need MBAs for Customer Service, building brand loyalty, persuading customers into the word of mouth marketers, and boosting their retention rates.
2. MBAs in-depth courses on consumer psychology, customer services, and effective communication is a complete package that is ideal for handling customer service operations in any company.
3. By engaging customer service and relationship managers, the tech-startup founders can be assured that their clients are taken care of in a proper way.

MBAs help in financial planning

• MBAs are financial experts and can make sure that startups are in a profitable position, along with the growth of their teams.

In Conclusion

1. A startup is all about making things happen.
2. Tech- startups can benefit by tapping into the potential areas of business by selecting the right program.
3. With a graduate degree in CS or Entrepreneurship, a business can be better equipped.
4. But the key point is CS helps develop the product, and MBA helps the business expand.
5. Actually, the know-how of both is required.

Also Read:

Who should be an Entrepreneur and who should not? And why?

How To Become A Successful Entrepreneur?

20 Things Entrepreneurs Should Never Do in Their Life

FAQs

Q- Is an MBA degree just enough to help grow a tech-startup?

Ans:  No. For a tech startup, the in-depth knowledge of the product is also required. That is why some universities have introduced certifications on Bootcamp.

Q- For small startups, what are the attributes of employees required?

Ans: Attitude (30%) ,Aptitude (27%), Experience (23%),Education (15%) and Network (5%).

Q- What business can you start with a computer science degree?

Ans: Internet Marketplace, IT Support, Web Development, and Software Development.

Q- Do I need a computer science degree to be a founding member of a startup?

Ans: No, a field of study or degree does not matter, only skill matters. But having a professional degree and training certainly helps ease the process and iron out glitches.