Should a Mechanical Engineering Student Minor in Business Administration to Become an Entrepreneur?

As a prospective mechanical engineering student dreaming of an entrepreneurial career, the question of whether to pursue a minor in business administration is a common one. While it can certainly be beneficial, it is not the only path to success. This article explores the advantages, challenges, and alternatives, providing you with a comprehensive guide to help you make an informed decision.

The Case for a Minor in Business Administration

Undertaking a minor in business administration can equip you with a valuable set of skills that are essential for running a successful business. This field covers areas like marketing, finance, accounting, and management, all of which are crucial for the growth and sustainability of any venture. By taking business classes, you can gain insights into the technical aspects of entrepreneurship and apply them in real-world scenarios.

Why Not Commit Immediately?

Given your current student status, it may be more practical and less stressful to take a few entrepreneurship and business classes first without fully committing to the minor. These classes can serve as electives, allowing you to gauge your interest and commitment level. As you progress, you can then decide whether to pursue the full minor requirements.

Moreover, you can learn a lot about business through self-study and practical business experience. This approach offers flexibility and can be a more manageable way to explore your entrepreneurial interests without overwhelming your academic schedule.

Focusing on Key Subjects

If you decide to take business classes, it's wise to focus on technical topics such as accounting, tax law, and business legal structures. These subjects often require a more rigorous approach that may be more challenging to master through self-study alone. By taking these classes, you can ensure a solid foundation in the essential business practices needed for your future ventures.

Books to Inspire and Guide You

To supplement your academic learning, consider the following books, which are highly recommended for aspiring entrepreneurs:

1. The Personal MBA: Master the Art of Business by Josh Kaufman

This comprehensive guide is packed with practical advice on successful business management. Each chapter is concise and to the point, making it easy to digest and apply. It's an excellent read for anyone looking to enhance their business acumen.

2. Rework by Jason Fried, David Heinemeier Hansson

A quick but powerful read, Rework offers useful advice on building a lean, successful business. It focuses on the key principles of modern business without getting bogged down in unnecessary details.

3. Start Small Stay Small: A Developer's Guide to Launching a Startup by Rob Walling

Rob Walling's book provides actionable advice tailored for developers, but its insights are applicable to anyone starting a business. The active implementation of his suggestions can greatly aid your entrepreneurial journey. Don't be deterred by the title; this book is accessible and relevant to all.

4. The 4-Hour Workweek: Escape 9-5 Live Anywhere and Join the New Rich by Timothy Ferriss

Tim Ferriss's book offers valuable advice on starting a side business and achieving a work-life balance that many entrepreneurs dream of. It provides a unique perspective on the entrepreneurial lifestyle and can inspire you to take your business to the next level.

Alternatives to a Minor in Business Administration

While a minor in business administration can be beneficial, it's important to consider alternative paths. If you're passionate about owning your business, studying business might be the way to go. Conversely, if your business is closely tied to mechanical engineering, you could either:

Study business and seek a partner with mechanical engineering expertise. Study mechanical engineering, gain technical experience, and then pursue an MBA. Minor in business administration, but brace yourself for additional effort.

Each of these paths has its merits and challenges, and the best choice depends on your personal goals and circumstances.

Conclusion

The decision to minor in business administration is a significant one, and it's not one that should be made lightly. By carefully considering your priorities, exploring alternative routes, and utilizing the resources available to you, you can set yourself up for success in the entrepreneurial world. Regardless of the path you choose, the key is to remain persistent, learn continuously, and apply your knowledge in practical ways.