Do you think business education is necessary for becoming a successful entrepreneur? Can an MBA help aspiring entrepreneurs to prepare themselves better? I cannot deny that business skills and knowledge are among the many requirements for starting and running a business. It is possible that you can gain the necessary skills over the years while running your start-up, but it will surely prove to be a very risky and expensive decision. While starting a new business, you must ensure that you are fully capable to manage your company and have significant knowledge about the industry and the market. Moreover, you also need to develop excellent, management, leadership and communication skills. This is where business education comes in. Have a look....
Is MBA necessary?
I
agree that there are many successful entrepreneurs who do not have an
MBA, but you should also know that there are innumerable
entrepreneurs around the world who have failed miserably simply
because they don't have the right skills and knowledge. However, it's
also true that the value of a business degree are reduced to a great
in the past few years. During the 1980s, MBA had a high ROI and
offered an assured management career in leading companies. But the
scenario has changed completely today.
Several
businesses, including start-ups, in Silicon Valley now consider an
MBA as a negative sign, as they would rather prefer a candidate with
2 years of work experience than someone who spent 2 years sitting in
a classroom. Only the leading institutes, namely Wharton, Harvard,
Stanford etc, still offer significant ROI for careers in technology
firms. I believe the trend will soon follow across all industries.
Studying MBA is
expensive
Moreover,
earning an MBA degree is a really expensive affair. Your expenses
could run up to $60,000 per year or even more as tuition fees in
B-school and universities are increasing rapidly. You will also be
compelled to stay out of the workforce while you study and give up on
your existing employment, promotions and raises. If you consider all
the factors- tuition, accommodation, lost income and promotions- the
cost of your MBA degree can rise to almost $400,000. Are you ready
for such an investment?
Are you better off
without an MBA?
As I
said earlier, it is indeed important that you gain business knowledge
and skills to become a better entrepreneur. Moreover, an MBA can
offer you 3 valuable benefits-
- High quality education to develop the right skills
- Excellent networking opportunities with people who matter
- An accredited degree
However,
I believe that it is clearly a better idea to look for other sources
that can offer you the same benefits but without asking for such
heavy investment of time and money. Wondering what other options are
available to you? Let me help you out then. The ideal answer for you
is online business education! Why?
Why online MBA is the
answer
Let's
face it...typical MBA programmes are not developed for helping
entrepreneurs. On the other hand, online fast track MBA programmes
are a great fit for aspiring entrepreneurs as it allows learners to
study without the need for making crippling time and money
investment. As these programmes offer high flexibility with no
scheduled classes, you can choose to study from your won home at any
time you want and at your own pace. This means you will be able to do
a day job and gain experience or work on your start-up during the day
and manage time for your studies at night or any other time that's
convenient for you. Moreover, with an online top up MBA degree you
will be able to fast track to the final year of a recognised MBA
programme and earn your business degree faster.
Although
you can find numerous online programmes out there, but if you ask me
it is better to pursue the courses offered by the leading UK
universities and business schools. As UK institutes have a strong
reputation for providing high quality education, you will be able to
acquire a widely accepted and recognised qualification. By earning an
online ATHE Diploma in business you will not only learn how to
manage your business effectively, but will remain updated about the
latest market and industry trends. This will empower you to position
your company better and enable you to achieve your business goals.
The
truth is it can be very challenging to succeed as an entrepreneur,
but your business education will support you and give you the
strength to progress and advance your start-up.
How
else can online MBA help you to
become an entrepreneur?
Feel free to share your thoughts and opinions by commenting below.
