How an MBA can help the budding entrepreneur

start-up image

 

By Darcy Bickham

 

How An MBA Can Help the Budding Entrepreneur

Have you ever thought about wanting to start your own business? Are you thinking about practicing entrepreneurship within your current job? Do you have a business idea you think deserves a chance? If you answered yes to any of these questions, it might be time to start considering an MBA.

The MBA and its link to entrepreneurship

There is a lot of value in an MBA if you’re looking to become an entrepreneur. As an entrepreneur or business-owner, there are a number of benefits that comes with developing your leadership, innovation, and strategic financial skills and all of these skills can and will be learned throughout an MBA program. Many MBA programs utilize leadership development programs as a key part of the curriculum, which is necessary for budding entrepreneurs.

While you may not be specifically interested in starting your own business, an MBA is still very useful for “in-residence entrepreneurs”, a term for someone who is interested in developing new and innovative business ideas within their own company.

QS conducted an MBA Applications and Aspirations Report for 2018 which found that 60.5 percent of prospective MBA students see themselves running their own business within 10 years’ time, and business schools are taking notice of the large number of MBA candidates who are seeking to run their own business.

For example, Harvard Business School has recruited 21 entrepreneurs-in-residence to help students enrolled in its MBA. Other leading business schools across the world are implementing similar programs which would allow MBA students to get first-hand experience with entrepreneurs and those familiar with running their own business.

It’s clear that an MBA can significantly help entrepreneurs and those looking to develop business ideas within their own company.

How to start your MBA journey

Getting an MBA doesn’t happen overnight, but QS is here to help you along the way. If you’ve decided that an MBA can and will be beneficial to your career path, it’s time to start taking the next steps.

The QS World MBA Tour is a great place to get started and get all your MBA-related questions answered. By attending the event you’ll get the opportunity to meet face-to-face with top business schools, learn more about the MBA application process, get GMAT advice from industry experts and receive information about scholarship opportunities.

Don’t let you business ideas fade away. Who knows, your idea could lead to the next Amazon, Google or Facebook. Take the time to invest in your education, and give yourself the credentials needed to start your own business.