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Should I major in business or finance in college if I am interested in selling stuff for profit? #Fall24 #Fall24?
I am currently a junior in high school reselling game accounts and cosmetics.
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Sharon’s Answer
I would suggest pursuing a broad-based business or business administration degree. Such a degree will give you a comprehensive understanding of various business elements, including management, marketing, finance, economics, and so on. Gaining a thorough knowledge of all facets of business operations can be immensely beneficial.
If finance sparks your interest, you might consider adding it as a minor, as most business majors are also required to choose a minor. Other minors that could be valuable include marketing and entrepreneurship. Universities often provide programs that concentrate on particular areas of interest, such as consumer and retail marketing, depending on the institution.
Meanwhile, seek out chances to gain experience in a sales setting. Practical learning is always incredibly advantageous!
If finance sparks your interest, you might consider adding it as a minor, as most business majors are also required to choose a minor. Other minors that could be valuable include marketing and entrepreneurship. Universities often provide programs that concentrate on particular areas of interest, such as consumer and retail marketing, depending on the institution.
Meanwhile, seek out chances to gain experience in a sales setting. Practical learning is always incredibly advantageous!
Updated
Lynn’s Answer
While I believe both degrees have their merits, a business degree provides a more comprehensive understanding of various business elements such as marketing, accounting, and supply chain management. On the other hand, a finance degree primarily focuses on financial aspects. If your goal is to run your own business selling goods and services, the wider knowledge base offered by a business degree might be more beneficial.
Remember, if you're reselling items, it's crucial to maintain detailed records of your purchase price and profit. This practice will not only assist you during tax season but also enable you to monitor the success and trends of your products.
It's important to keep an eye on all trends, including seasonal changes. For instance, some products may sell better during the holiday season. You should also monitor whether demand is increasing or decreasing, or if your costs are rising, requiring you to increase your prices.
Maintaining accurate records will guide you in deciding which products are worth investing in and which ones to avoid. I wish you all the best in your business venture!
Remember, if you're reselling items, it's crucial to maintain detailed records of your purchase price and profit. This practice will not only assist you during tax season but also enable you to monitor the success and trends of your products.
It's important to keep an eye on all trends, including seasonal changes. For instance, some products may sell better during the holiday season. You should also monitor whether demand is increasing or decreasing, or if your costs are rising, requiring you to increase your prices.
Maintaining accurate records will guide you in deciding which products are worth investing in and which ones to avoid. I wish you all the best in your business venture!
Updated
Akhilesh’s Answer
If you're already interested in reselling and have experience with digital assets like game accounts and cosmetics, both business and finance could be relevant, but each will offer different skills:
1. Business: This major will provide a broader understanding of entrepreneurship, marketing, and management. It will teach you how to develop and manage a business, understand consumer behavior, and handle logistics—all valuable if you're considering expanding beyond reselling into a larger business. Courses in marketing and e-commerce could also directly benefit your current reselling activities.
2. Finance: This major focuses more on money management, investments, and financial planning, which could be useful if you want to handle profits strategically. It’s valuable for understanding cash flow, capital investment, and growth strategies. However, finance doesn’t usually dive deeply into marketing or customer acquisition—skills that are key in reselling.
Given your current interest in reselling and the hands-on experience you've gained, a business major might be more aligned with your goals as it includes entrepreneurship and sales skills you can apply directly to your activities. However, consider taking finance electives to understand the financial side of running a business.
If you’re exploring colleges, look for ones that offer courses in entrepreneurship and e-commerce, as these are directly applicable to your interests.
1. Business: This major will provide a broader understanding of entrepreneurship, marketing, and management. It will teach you how to develop and manage a business, understand consumer behavior, and handle logistics—all valuable if you're considering expanding beyond reselling into a larger business. Courses in marketing and e-commerce could also directly benefit your current reselling activities.
2. Finance: This major focuses more on money management, investments, and financial planning, which could be useful if you want to handle profits strategically. It’s valuable for understanding cash flow, capital investment, and growth strategies. However, finance doesn’t usually dive deeply into marketing or customer acquisition—skills that are key in reselling.
Given your current interest in reselling and the hands-on experience you've gained, a business major might be more aligned with your goals as it includes entrepreneurship and sales skills you can apply directly to your activities. However, consider taking finance electives to understand the financial side of running a business.
If you’re exploring colleges, look for ones that offer courses in entrepreneurship and e-commerce, as these are directly applicable to your interests.