Ecommerce is one of the most democratic industries in the entire world. Literally, anyone with a handful of dollars and access to the internet can have an eCommerce business set up in minutes. But that doesn’t mean succeeding in eCommerce is easy.
Entrepreneurs experience failure at roughly the same rate in eCommerce as in other industries, and a lot of it boils down to lack of knowledge. If you are serious about making it as an eCommerce entrepreneur or you are one already and you feel like you’re struggling to keep up, you should consider upping your education. Here are some of the best college degrees for eCommerce entrepreneurs.
Having a formation as a software engineer could help you as an eCommerce entrepreneur no matter what, but it could be particularly helpful if you want to get into the software business. Being a software engineer will allow you to create apps for your company, create tailor-made management, cloud storage, and collaboration tools, or create your own SaaS platform.
Software engineers learn a variety of soft and hard skills that make them better entrepreneurs. They are better at problem-solving, they learn how to manage large multidisciplinary teams, and are masters at testing as well. They can also implement software solutions within their company more seamlessly and can instantly tell which solutions would or wouldn’t work for them.
If this is something that interests you, you could start by getting a bachelor’s degree in software engineering. If you really like the field and would like to develop more advanced products, then you could move to a master’s degree. A master’s could also be a great option if you have a bachelor’s degree in another field and want to learn development skills at an advanced level.
It’s that’s where you are at, then you could look at Baylor University’s online masters in software engineering. This program will allow you to get your credentials from home or anywhere with an internet connection. This is perfect for those who want to keep their ability to earn while they get their degree.
Computer science is another great degree to have as an entrepreneur, especially at a time when companies need to process information across vast diversified networks. Companies that don’t have a solid grasp over cybersecurity and the management of data and digital assets will have trouble surviving in this economy. They will either have to deal with repeated breaches and incidents or let third parties be in charge of their systems.
With a computer science degree, you will be able to set up your own frameworks and monitor them. You’ll have more control over what happens with your data and will also learn how to mine, categorize, analyze, and act upon it better.
Marketing plays a major role in eCommerce, and only those who understand how to use all marketing methods will have an edge in this industry. Anyone can market a product, but it takes someone with a real background in marketing to create elaborate marketing plans and make sure that they’re profitable.
While amateurs will leave much to guesswork, true marketers will look at the cost of different methods and see which ones will bring the best results. They are better at monitoring their efforts and switching when they realize that a certain campaign is falling flat.
Being a great marketer will also make you better at branding and help you better understand what can make or break a brand. Marketing formation is a natural choice for anyone who wants to disseminate their brands fast and efficiently. You’ll also save on overall marketing costs and have more control over the way your brand is marketed and represented.
An MBA is a great option for people who want to learn how to manage large-scale operations. If you want to manufacture your own products, for instance, or have multiple warehouses spread across different markets, then having an MBA will allow you to manage your chain supply much better.
You’ll also be better at managing budgets, maintaining compliance, and having a better understanding of finance. You’ll manage your debt better, and you’ll know when it would be a good idea to bring new investors in or take your business public.
You will have a good understanding of things like business law and accounting. This will allow you to avoid tax problems and take advantage of all tax benefits you could qualify for, and you won’t have to worry about the IRS.
Not only that, but banking institutions are more likely to extend capital to someone with an MBA. Venture capitalists will also be more likely to fund you and allow you to keep control.
In addition, you’ll learn advanced remote management and lean methodologies that will give you a significant edge in your industry. The MBA is one the best degrees for anyone who wants to manage an organization from top to bottom without being too dependent on outside expertise.
Ecommerce runs on data and anyone who understands data will have an advantage over the competition. User data will also become increasingly difficult for companies to collect over the next few years as governments around the globe are trying to limit the amount of data third-party companies can gather from users without their consent.
Having a degree in data science will teach you how to gather data the right way and make sure that the data you collect is relevant. You’ll then be able to use that data to build predictive models and know the potential effects of initiatives you take. This is a very valuable degree for anyone who wants to run their business efficiently and focus on raw data instead of hunches to make decisions.
If you’re an eCommerce entrepreneur trying to take your business to the next level or build the next global eCommerce empire, these are all degrees you could consider. You can also get a combination of them to get an even more well-balanced skill set.