If you’re thinking about majoring in entrepreneurship, it may be a good idea, but it’s also not a necessity to being an “entrepreneur.” Many people like Jack Ma, succeed in business without any degree, let alone entrepreneurship.
Although a degree in the field does not guarantee your success. Having a degree in entrepreneurship or business can have its advantages. It can serve as a base foundation of your business management skills.
If you decide to obtain a degree in entrepreneurship, before choosing your school, you should ask yourself the following questions:
- How many alumni or graduates have started their own businesses?
- If I have a business idea, can the college support me with networking and other resources?
- How is entrepreneurship or business taught?
- Does the location of the school affect facilities or internship opportunities?
- What courses will you be able to take or what is the curriculum?
- Does the school offer students the opportunity to study abroad or participate in global opportunities?
These are very important questions you should ask, when looking at potential schools for a degree in entrepreneurship.
Another consideration is to think about whether you want to obtain your degree online or in a traditional classroom. Online education is becoming more commonplace nowadays and is a good option, because location is no longer a concern.
In the next section we are going to compare the traditional classroom degree with the online or virtual classes.
Classroom Teaching Vs Online Programs
There are advantages and disadvantages to both classroom teaching and fully online learning. However, these advantages and disadvantages should really be evaluated based on personal priorities and what’s important to you, before you commit to a particular program.
Advantages of Classroom Teaching
- There’s face-to-face instruction
- You are able to ask questions immediately
- Networking is easier
- The “human touch”
- There is an immediate reaction in the classroom teaching
- The possibility to Interaction with other students
- More possibilities for more varied exercises
- There is more concentration (no distractions at home)
- Possibilities to form study groups
- The training can be customized
Disadvantages of Classroom Teaching
- You need to go to a physical campus
- Potential need to move to a new city
- The course in classroom teaching are held at a specific time and you must attend.
- Students have to work at the pace of the class
Advantages of Online Programs
- Flexible scheduling
- Faster implementation
- Study at any time
- You can take your course from anywhere
- Access to more colleges simultaneously
- Potentially lower costs
Disadvantages of Online Programs
- It can be difficult to express thoughts, feelings or opinions in writing
- E-mails, forum posts and chat messages can be misunderstood because there are no visual clues to the sender’s intentions
- Lots of reading and writing
- It’s hard to make a real connection with your peers
Best Colleges for an Entrepreneurship Major
Babson College (Olin)
This colleges is known worldwide for its entrepreneurial initiatives and programs, along with their core desire to innovate. Innovating is part of the culture at Babson College. Students earn a Bachelor’s degree and can focus at the same time on technology, entrepreneurship and design. Entrepreneurship is officially part of Babson’s college DNA, making this school a unique and exciting place for the Young.
This university is usually listed as one of the top places to learn business and for great reason. Its business school has a who’s who list of alumni, innovative programs, a certificate in innovation and entrepreneurship, contagious energy and optimism about the power of business to shape the world for good. Oh and it’s located in the heart of Silicon Valley.
Massachusetts Institute of Technology
MIT is known for the quality of its teaching. It offers specific entrepreneurship programs, and also has a vast network of resources and centers. The undergraduate business curriculum is facilitated by a partnership with the Sloan School of Management, which offers a Bachelor of Science in the field of Management Science. This program is consistently ranked among the top business programs in the world.
Everyone knows the name, Harvard Business School. Harvard is well known for its personalized case study approach to business education. Harvard is a home for entrepreneurship, regularly organizing business start-up competitions, a variety of programs and scholarships. At the Harvard University campus, you can find the Technology and Entrepreneurship Center, and the Innovation and Entrepreneurship Initiative at the School of Engineering and Applied Sciences.
California State University – Long Beach
Through their minor in technology management, offered in partnership with their Graduate School of Management, students in the California state university can learn from the best how to combine their interests in science and engineering with their commercial and entrepreneurial sensibilities.
The Best Online MBA Programs Offering Entrepreneurship Concentrations
One of the most valuable benefits of an MBA program in entrepreneurship is networking. Students who work together on complex business projects and communicate regularly on forums and in online classrooms can develop a strong sense of camaraderie. When they graduate and move on, they often become resources for others.
The following schools offer online MBA programs to acquire with a concentration in entrepreneurship.
Indiana University – Bloomington
Students may specialize in entrepreneurship and business innovation, international business or management. The Entrepreneurship Concentration offers courses on a range of topics related to new businesses and best practices.
University of North Carolina – Chapel Hill
Undergraduate students specialize in business and can select a specialization in entrepreneurial studies. They offers programs specifically tailored to the process of starting a business as well as internship opportunities.
Carnegie Mellon University (Tepper)
It was one of the first institutions to offer formal courses on entrepreneurship in 1972, but it is also one of the best. Over the years, the Carnegie Mellon University has been able to refine her courses to offer specific advice on starting, financing, researching and running new businesses.
University of Florida (Hough)
It offers a minor in entrepreneurship and a series of courses on topics needed by the entrepreneur, ranging from new business planning to small business financing.
University of Southern California (Marshall)
Undergraduate students pursue general business studies and have access not only to the Center’s initiatives but also to SoCal’s rich entrepreneurial network. The Centre contributes to curriculum development, sponsors research, and organizes competitions for future entrepreneurs.
There are many colleges out there, so take a look and see if pursuing a degree in entrepreneurship is for you. If not, the skills you’ll learn will prepare you well for other careers.
If an entrepreneurship degree isn’t for you, take a look at an Online Master’s in Organizational Leadership that’s geared more towards building leadership skills.
If you haven’t yet, check out the other parts of this series on being an Entrepreneur and starting an online business:
- How to be an Entrepreneur – Are you sure you want it?
- How to Start an Online Business – Overview – Part 1
- How to Start an Online Business – Find your Niche – Part 2
- How to Start an Online Business – Pick your Brand Name – Part 3
- How to Start an Online Business – Setup the Blog Domain, Web Host and WordPress – Part 4
- How to Start an Online Business – Design Your Blog Website – Part 5
- How to Start an Online Business – Creating SEO Rich Content for Your Blog Posts – Part 6
- How to Start an Online Business – How to Successfully Market Your Blog or Business – Part 7
- How to Start an Online Business – Choosing Affiliate Programs – Part 8
Handy recaps of the above lists for quick reference:
Best Colleges for an Entrepreneurship Major
These are the best US colleges that offer an Entrepreneurship Major and/or Concentration:
1. Babson College – Olin
2. Stanford University
3. Massachusetts Institute of Technology (MIT)
4. Harvard University
5. California State University – Long Beach
Best Online MBA Programs Offering Entrepreneurship Concentrations
The schools here offer online MBA programs that allow a concentration in Entrepreneurship:
1. Indiana University – Bloomington
2. University of North Carolina – Chapel Hill
3. Carnegie Mellon University (Tepper)
4. University of Florida (Hough)
5. University of Southern California (Marshall)