Saturday, August 16, 2008

Business Major Help...? -

Okay So I want to open up my own business when I graduate. My school offers an Entrepreneurship Certificate, but not as a major. What should I major in so I know I will be qualified?I am not exactly sure what kind of business I want to open. Here are a few of the business majors offered: Business Administration, Business Management, Hospitality and Tourism Management, etc.Thanks for any Advice!

The entrepreneurship cert isn t really important since you ll be working for urself, with no boss to review ur qualifications. The important thing is that u decide what kind of industry ur inclined to work in.(i.e. Business Admin-upper/middle management position in an established businessBusiness Management-more of an HR position u d be managing your employees and making sure everyone is working well together, once again this is usually in an established business/corp.Hospitality and Tourism Management-ensuring that your customers are satisfied, as in a hotel or services industry.)My advice is that u d be better off pursuing Bus. Mgmt or Hos. TM. A warning though, Bus. Mgmt tends to focus on HR...meaning it won t teach you the monetary skills that u ll need (fortunately these are usually req d for any business major).Hos. TM may propel you towards a seasonal industry as ppl prefer to travel in the summer months, but making sure the customer is happy is a big part of business, and if u want to open a hotel or a business that focuses on the customer, I would definitely consider this.It would be a good idea to hedge ur education tho. So that once u start your own business and discover its not for u, u have the ability to fall back on what you learned and take a 9-5 job to put yourself in a more secure environment.I hope this helped and good luck finding what you want to do.

I also intend on opening my own business shortly after graduation. I am an accounting major, and am currently getting my masters degree (1 additional year on top of undergrad). I personally feel that accounting or finance are your best options. Accounting would be my number one suggestion because it gives you an understanding of the big picture. I interned this past summer with Northwestern Mutual selling life insurance to get some sales experience. I feel like if I am able to keep the books and i know how to sell a product, all I really need to do is get some capital and figure out my niche. Finance would be my second choice, and third would be economics.Hope that helps.

Obviously a major related to your start-up s industry would be preferred, but not essential. Get a degree in something you enjoy, anything in the school of business will include basic courses in finance, marketing, business law, etc.Also, why wait until you are out of school to start a business? I started Bone in a Basket a year ago and I am still in school. I think it was one of the best things I have ever done. Nothing beats hands-on real-world experience for learning, I think it makes my classes easier. I started with absolute minimal capital, don t let the business grow to fast (school first), and I think it looks really good on my Resume.Just be sure to cover all your legal bases, get business permits/licenses for your state, county, and city, and don t forget to fill out all the tax forms. There is lots of help online for starting a small business.

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