Knowledge never goes in vain!! MBA just like every other course out there is designed to enhance your knowledge and how you can use that knowledge in real-life. But an MBA is more than a degree as it focuses on building leaders and business managers. MBA teaches individuals how to grow together as a team. And this is why MBA is not only for someone who is looking for a career growth, it is equally important to build outstanding entrepreneurs.
The biggest dilemma entrepreneurs usually have before they opt for an MBA is that will it be a worthy investment and what ROI will an MBA add to their entrepreneurship. Yes an MBA will cost you a good amount of both money and time and it is you who has to take the final decision. Go for an MBA only if you think your pros of getting an MBA outweigh the cons.
So today we are gonna discuss how an MBA from any of the best MBA colleges in India or even outside can help entrepreneurs become better. Here’s what entrepreneurs need to know:
MBA and Entrepreneurship-Is it a wise choice?
Every coin has two aspects and even though MBA can add value to your entrepreneurship, it has its cons too. However, today we will be discussing only the pros:
How to efficiently manage your resources?
Yes no degree and no teacher is better than experience!!
However, an MBA brings in extensive research into one’s domain and can teach the essentials to successfully manage your own business. At some point of time when you have established a successful business, management will be needed. And this is where an MBA will play an important part.
Grow your network:
If you are pursuing your MBA from a top-notch B-school, chances are high that you’ll be meeting some of the finest minds. And this alone makes MBA a golden opportunity to share and form new ideas. Entrepreneurs can even find some really talented individuals who might love exploring entrepreneurship themselves and end up working for you.
MBA focuses on developing an overall appealing personality. From group discussions to preparing for personal interviews for large corporations, MBA assists in overall development.
Entrepreneurs need to showcase strong interpersonal communication skills to connect better with their clients. And an MBA can train you well enough for handling and managing clients.
Better Decision making:
Experience combined with knowledge can help entrepreneurs make better decisions for their businesses. One of the basic teachings of an MBA is to make decisions based on ROI. Some might consider that this prevents you from making bold decisions but here’s what they miss ‘Wise Business Decisions.’ And for entrepreneurs who are just getting started with their business, calculated risk is what’s crucial.
B-schools can also be the right place where your idea of entrepreneurship takes birth:
Yes, many successful entrepreneurs had their idea born while they were pursuing their degrees. It was B-school that they realized they don’t want to work for anyone and be their own boss. So B-schools can be a good place for great ideas.
At the end, all I would say is that it is your decision whether an MBA will aid you in your entrepreneurship or would you invest your time and money elsewhere. Sit down have a good thought over it and figure it out yourself. You can start by checking out educational blogs. As an entrepreneur, you’ll have to take many such decisions just consider this one of those situations.