Today’s budding entrepreneurs can learn how to build and run a successful business by taking their education online.
Entrepreneurship is a growing discipline in online education for a number of reasons, including that skills in the field are becoming more appealing to employers, experts say.
“People are excited when they see companies startup and become successful, and also I think that there’s a way to apply entrepreneurial thinking within an organization,” says Cheryl Bann, chair of the MBA program at Capella University, an online, for-profit school that offers a graduate certificate and an MBA degree in entrepreneurship.
[Ask these questions when choosing an MBA entrepreneurship program.]
There are different types of online programs and classes out there for aspiring entrepreneurs that range in both subject matter and structure.
“I would not limit all entrepreneurship as being the same,” says James Green, director of entrepreneurship education for the Maryland Technology Enterprise Institute, or Mtech, at the University of Maryland. “I would go even deeper than that and try to figure out what facets of entrepreneurship — be it technology or social or international or other elements — may be of interest.”
Online programs in entrepreneurship can be categorized based on cost, but programs and classes in the field differ in many other ways, experts say. Take a look at what makes each type unique.
— MOOCs and free online programs: Free online courses in entrepreneurship are usually self-paced and don’t enable students to earn a credential or credit of any kind without payment, experts say. They can be a good option for those looking for an overall introduction to the field or answers to more specific questions.
Free online classes can have hundreds or thousands of students, which can mean less, if any, interaction between them and an instructor.
[Understand how online learning options vary by most than just cost.]
Companies such as Udacity and universities such as the Massachusetts Institute of Technology and Stanford University offer free online entrepreneurship class options. At MIT, learners both within and outside the university can sign up for three different entrepreneurship MOOCs, which are self-paced, says Bill Aulet, managing director of the Martin Trust Center for MIT Entrepreneurship at the university .
Another free option is the Kauffman Founders School, which publishes video content from leading experts as well as suggestions for further reading and other resources.
— Low-cost options: Lower-cost options might involve more faculty interaction and the ability to earn a credential of some kind, experts say, though the distinctions between free and low-cost options can vary.
On Udemy, an online learning marketplace, entrepreneurship classes that cost money can range from less than $20 to a few hundred dollars.
Meanwhile, in each of MIT’s online entrepreneurship MOOCs, students have the option to earn a verified certificate if they complete assessments and pay $100, says Andrew Ngui, manager of entrepreneurship programs in MIT’s Office of Digital Learning. Ideally after completing at least one of the MOOCs, students can pay $6,000 to attend a three-month bootcamp, a mentorship program that can include face-to-face and online instruction and a one-week, in-person training.
— Certificate programs: Experts say earning a certificate in entrepreneurship can be a great option for the student who might already have some business knowledge but is looking to learn more about entrepreneurship specifically.
Certificates often have fewer class requirements than degrees and are generally less costly. The certificate in entrepreneurship offered at Capella entails completing five courses, whereas the MBA in entrepreneurship requires 16.
“You’re getting a variety of a small number of courses,” Bann says of online certificate programs. “But you’re getting courses that have been put together looking at the overall discipline of entrepreneurship and how to ready someone to participate.”
— Degree programs: The percentage of new entrepreneurs who were college graduates rose from 23.7 percent in 1996 to 33 percent in 2014, according to a Kauffman Foundation report.
By pursuing a degree, an online student can receive a foundational business background in addition to a deeper knowledge of entrepreneurship, Bann says.
[Choose between an online graduate certificate and degree.]
This was the case for Felicia Rosemond, a student in Capella’s online MBA in e ntrepreneurship . She’s been working in information technology and software development for about 20 years but is looking to start and run a business, which she says will require her to get more general business knowledge.
“I just didn’t think a certificate would be quite long enough to build up that acumen that I wanted to build for myself,” she says.
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Choose the Right Online Program in Entrepreneurship originally appeared on usnews.com