College Major.

[comment]

I'm 17, I've owned a very small business before that I shut down, and I'm getting ready to go to college.

II have a great idea for a business that I can start once I'm 18, but I need to figure out my major and where to apply. Is majoring in business worth it? Or should I just minor? I enjoy automotive work and engineering, but I dont want to work for anyone else in that field. I dont see myself owning any sort of automotive company since that market is pretty saturated, but it's possible. Should I major in what I enjoy, and minor in business. Or the other way around?

I know its my decision and I know myself better than anyone, but you guys have more experience and can maybe guide me a bit.

 

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[lleone]

My vote would be to major in what you enjoy and take business as a minor. The more you can become an expert in what you enjoy, the better you will have in finding some untapped demand that exists in that field. Build relationships with Professors that are in that field as they will have some great insight into the needs that are missing. In addition, they normally will have access to a great network from that field.

Don't worry about the field being saturated today. Focus on what technology in that industry will disrupt it in the future. In fact, if there is an area of technology that you're really interested in that field, see what schools are working on it and apply there. Don't worry about school rankings, prestige and all that garbage. There is no correlation between that and being successful. Just go where they are doing what you think you really want to immerse yourself in and then find your hook.

 

[G-man422]

I would say major in business. Let what you enjoy remain just that; what you enjoy. Sometimes if you turn what you enjoy into something like a business, you lose that passion, love and drive you once had for it. Get a solid foundation in business, and then take those skills to improve any number of things.

Best of luck.

 

[458]

In terms of getting your money worth, go for accounting. Not only does it make a good backup plan but you will be able to run your business better and/or know when your bean counters are trying to pull a fast one on you.

 

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[comment]

In terms of getting your money worth, go for accounting. Not only does it make a good backup plan but you will be able to run your business better and/or know when your bean counters are trying to pull a fast one on you.

Well isnt accounting just a part of the business administration classes? I'm just working on deciding if I major in business, I need a good minor. But if I minor in business, I need a useful major. Mechanical Engineering is the only thing I can think of I have a strong, strong interest in that would make a proper major other than business. Software engineering is there too, i guess. I've read on here a few times that generally and MBA is a waste, so I could get a BBA or something.

 

[SHHDlove]

Hey Comment,

I was a BSBA from Kenan-Flagler Business School at UNC Chapel Hill. The best thing about it were the classes on family business and entrepreneurship, especially the people I got to meet. The worst part was everything else.

Honestly, you might want to skip the whole process. Get a college degree got me a job, but it didn't light my fire. Enterpreneurship, building businesses lights my fire. I am more fulfilled now working on my own project then I was doing my job alone.

Don't get me wrong, I like my job, but it isn't my reason for getting up in the morning.

 

[lleone]

Mechanical Engineering (good foundation for most inventions) and Software Engineering (as in demand as you get right now) are both excellent choices to major in. Business is great, but it's definitely easier to pick up the business stuff either as a minor or through educating yourself. I have met many business majors and they know next to nothing (most have forgotten more than they know).

To clarify about doing what you love. If you can do what you love and it will fill a real need that is going to translate into a fastlane business, then by all means go for it. You have hit the jackpot.

If, on the otherhand, you love singing and you suck at it, then DON'T do what you love. It will be a waste of time and you will be poor.

 

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[comment]

Alright guys. I'm pretty sure I'll minor in business. I figure with business, a major wont exactly help me get a job since that defeats the entire purpose, so I may as well get a minor and everything I didnt learn there can be self-taught.

So now I'm deciding a major between Software or Mechanical engineering. I enjoy both greatly, the difference is that (from what i've seen, I may be wrong) a mechanical engineer, when first getting out of college has a lower salary than a software engineer. Now, I'd LOVE to go my entire life without working for someone else, and that's the plan, but sometimes things just don't go how you think they would. Mechanical Engineering gives me a good foundation for actually building something, and opens me to an entire market, plus the family business is based in mechanical engineering. (I shouldn't be taking over the family business until I'm 40 or 50, however). Software Engineering can be similar, you can invent a piece of software that sells repeatedly. I'm stumped.

Both have a pretty good market to go into, except one has a higher salary, and one helps me get into my family business when I'm older. They both can be used to invent something, or further a business.

Any input from someone with a bit more experience? They seem pretty equal, except I enjoy mechanical engineering a bit more.

 

[GlobalWealth]

Any input from someone with a bit more experience? They seem pretty equal, except I enjoy mechanical engineering a bit more.

I'd say go with the degree that holds your interest. I agree with 458 that an accounting degree can be very helpful, but if you can't stay awake in class then what's the point?

Another thing to consider with accounting degrees is that accountants tend to count SOMEONE ELSE'S money. Financiers tend to count their own money.

At my university the running joke was that finance professors drove the bmw's and porsche's in the garage. All the other business professors drove the honda's and toyota's.

There is a bit of truth to that even in the academic world. The finance professors earned around $150k salaries plus significant side income from consulting and speaking. The economics and accounting professors earned around $80k.

Not that you are looking to become an educator, but there is something to be said about the value provided with the knowledge they have. As we constantly discuss on the forum, it's all about creating and providing value.

Personally, I got degrees in Finance and International Business with minors in Russian and Economics.

The economics and finance education was certainly the most useful. I would also encourage you to study a foreign language to the highest level while at uni.

 

[SHHDlove]

The Education of Millionaires by Michael Ellsberg

http://www.amazon.com/dp/1591844207/?tag=tff-amazonparser-20

 

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[comment]

..I just realized I posted this in real estate. I have no clue why I did that. Can this be moved to general business, or something a bit more relevant? Sorry aboiut that.

 

[SuccessInMind]

As a soon to be college graduate majoring in Business Management, my advice would be to pick a major that fits in the industry you would like to be in. If it's not a business major, take a business minor or take a couple business classes that cover financial literacy. If you use college as a time to explore the things that interest you and to network with like-minded people, then I think the right major will come to you naturally.