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Is an MBA Good for Entrepreneurs?


Entrepreneurs have always been innovators and risk takers with the drive to chart their own path to success. While one can point to visionaries such as Mark Zuckerberg or Steve Jobs as examples of entrepreneurs who built empires without going to business school, the reality is that extensive business knowledge is the key to spinning most great ideas into gold.

Few entrepreneurs make it to the top of their industry without a deep understanding of business operations, practices and law. Some of America's largest and most intriguing companies were in fact founded by entrepreneurs with an MBA -- from global brands like Tesla (Elon Musk) and Nike (Phil Knight) to DIY-driven startups Angie's List (Angie Hicks) and Blue Apron (Matt Salzberg).

The Northwest Missouri State University General MBA offers current and aspiring entrepreneurs a solid education in business and the essential knowledge needed to bring new ideas to life -- and to market.

An MBA Designed With Entrepreneurs in Mind

Specialized courses such as Innovation and Entrepreneurship (MGMT 54628) give Northwest online MBA students the tools they need to identify and evaluate business opportunities from the perspective of development, commercialization and innovation. This course also addresses strategies for attaining startup and ongoing funding, while it moves through the various financial and creative stages of a business venture -- from inspiration to operation.

The program also offers a variety of courses in areas of business all entrepreneurs need to be familiar with in order to start, manage and grow a new venture:

  • Strategic marketing and communications
  • Accounting and financial management
  • Human resources, employment law, compensation and benefits
  • Statistics and analysis for business decision-making
  • Quality management and improvement
  • Organizational development
  • Global marketing and international business

Entrepreneurship Is the New Normal

Today, 72 percent of high school students and 64 percent of college undergrads hope to start their own business, and in the digital age, a business school background can help more people of all ages fulfill that ambition. Pursuing a graduate degree in business benefits entrepreneurs in many ways, and some of the perks of an MBA education include the following:

The chance to build connections and networking skills. Through interactions with professors and fellow students, as well as internship or work opportunities, entrepreneurs can create a cohort to support their business efforts and even find partners for new ventures.

An incubator environment that allows you to fail before you succeed. Trying out business ideas and strategies through projects allows future entrepreneurs to get a sense of how they might fare under real-world conditions, before taking a financial risk.

Insight on how to run a business, not just start one. The chance to try out different approaches to organization and management is also valuable to better understand your potential needs and capacity.

A valuable credential that enables you to earn a good living and maybe even fund your business idea. MBAs are in demand -- 85 percent of employers are looking to hire business school grads in 2018. With this degree in your pocket, you can start earning while you are learning. 

As an MBA grad, you can also go to work in areas of business such as marketing sales, or product development to continue enhancing your skills and refining your business ideas while saving for your startup and making contacts with potential investors.

Whether you are ready to start a business now or at some point in the future, Northwest Missouri State's online General MBA has just what you need to succeed.

Learn more about Northwest Missouri State University's online General MBA program.


Sources:

Inc.: 4 Reasons Business School Is Worth It

Entrepreneur: How to Foster the New Generation of Entrepreneurs, Through Nonprofit Partnerships

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