Do Entrepreneurs Need an MBA?

People all over the world are very skeptical of the value an MBA has for entrepreneurs these days. There are plenty of debates that say that an MBA may not give you an advantage over other people who don’t hold one in the business world. On-the-job learning is better than formal management training however if you don’t have any great business idea, studying for an MBA will do you some good. 

When to say Yes or no to an MBA course? 

Timing is very important and you have to be able to know when and when not to study for an MBA. Since MBA courses are not cheap, the pressure is on to make your investment count. 

If you’re working for an employer who wants to pay for your studies or cover a huge portion of the fee then the answer is “YES”.  This puts your mind at ease knowing that you can study for your MBA without having to worry about losing your high paying job. 

Alternatively, if you can pay for the program yourself and you’re given reassurance that your job is safe during the time you take off to study, the answer is “YES”. Taking time off to do an MBA to improve your career prospects is not a bad idea. An MBA qualification can be used to refresh your career because it can put you in front of the queue when applying for future jobs. 

This gives you a solid return on your investments which is the ultimate goal of investing your time and money in an MBA program. Similarly to Ph.D. programs and diplomas, you have to write essays and dissertations. If this is something you’re not good at because your writing skills are not up to par, you can hire an academic writer to get a professional essay written by experts. There are so many online writing companies you can contact to get a well-written paper or essay done. 

You just have to keep your wits about you and beware of scammers. With so many fraudulent websites looking to scam people of their hard-earned money, it can be tough to tell which websites are real and which ones are fake. Do your homework and only deal with websites that are reputable and stay clean of any websites that look suspicious. 

If you don’t have the funds or time, you might want to put studying for an MBA to the side until you have the funds ready and time. The answer, in this case, is “NO” because if you are an up and coming entrepreneur, this could be time lost. This is because you’re studying instead of gaining knowledge and developing your business venture in the industry you’re in. 

If you already have a platform, a promising start, or a wonderful business idea, this is not the time to take time off to do an MBA program. It is not worth the risk unless you’re lacking a path to succeed and need something to give you a boost. This is the only time you see a very high return on your investment. You are using the time to build your entrepreneurial skills.

An MBA program can teach you entrepreneurial skills 

Many people who advocate for skipping an MBA program have questioned its importance when it comes to starting a business. The question now is, are the skills you learn during your MBA program important when it comes to entrepreneurship? The answer to that question is YES. 

Almost every skill you learn during an MBA program is useful to an entrepreneur. Starting a company from scratch is a lot tougher than being a salaried manager in a major company. This is because if you are a salaried manager, the company is there for you already and everything is in place while you have to build things from the ground up as an entrepreneur. You also have to ensure that your venture makes profits because that’s the only way to keep the lights on.

There are plenty of skills you need to learn to be a successful entrepreneur than a salaried manager.  Entrepreneurs are not just restricted to just one role, there are so many roles that they need to perform. This is why you’re taught modules like marketing, accounting, human resource management, sales, and more when you’re studying an MBA.

Studying an MBA helps you acquire the skill you need before you launch your business. This makes the process less painful than learning on the job or through trial and error. Learning on the job only works for entrepreneurs if your ideas and abilities are good enough to overcome any mistakes you face. If you are seriously lacking in ability and ideas, learning on the job will not yield positive results. 

Can you study for an MBA online?

The number of people studying courses online has gone up massively in recent years. This is because technology has made it very easy for people to access courses and learning materials they need ease. Speaking of an MBA, you have a chance of getting the entrepreneurial skills you need without stepping foot in a classroom and paying high tuition fees.

Studying your MBA online offers you a very high level of flexibility. You can study around any other commitment you might have whether it is family or your career. Countries like Australia, the USA, and the UK offer amazing MBA programs and all you have to do is choose the one that suits your needs. 

If you want an entrepreneurship-focused program, you can find that too and some things you learn to include startup financing and investment pitching. It is a very bad idea to start a business if you have no idea how to deal with funds. 

Final thoughts 

Overall anyone who is an MBA graduate will find communicating with their employees, superiors, and workmates easier. After getting an MBA degree, these skills can also be helpful when one is at home as well as in social settings like company functions. Being able to get messages across is very important for any entrepreneur because you will be able to get your ideas and solutions across to people working with you.

About the Author

Joan Young is an aspiring journalist and copywriter with deep interest in sociology, inventions, technological progress and business studies. She provides online tutoring sessions to international students and finds immense pleasure in witnessing their writing progress. Currently she is working as a professional essay writer at Advanced Writers.

Do Entrepreneurs Need an MBA?

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