For many years, the primary reason to get an advanced business degree was either to qualify for a new, specialized job or to help you move up the corporate ladder. A Master of Business Administration (MBA) was great for those in one of the leading consulting firms or for an individual determined to move up within the structure of major companies.
Now, with the rise of startup companies and hot entrepreneurs making a fortune as their companies go public, the deeper interest in MBA programs has changed. Many candidates who attend the leading graduate business schools have the stated desire to start their own venture and create their own path to success in life. Courses are designed to help foster the innovative, entrepreneurial spirit and students find that their programs help prepare them well for the rigors of entrepreneurial life.
The MBA Program as Business Incubator
Increasingly, those drawn to MBA programs come for the opportunities as well as the learning. Fellow students are often focused on exploring startup ideas and faculty members are tuned in to cutting-edge research and the local venture capital scene. The focus on creating potential new companies or perhaps birthing the next big startup enlivens the program and brings value far beyond just the classes and subject matter learning going on. Advanced degrees can be expensive, but with the entrepreneurial potential of today’s MBA the investment is worth it. The effort spent researching and applying to the best available schools will result in admission to a program that will serve you well for years to come. With the high costs of the best universities, you should plan on taking out MBA loans to help pay for your graduate degree.
Opportunities for Networking
Any startup or business that has plans to become a public company or a major success will need talent. Finding partners you can truly trust who are also superbly skilled and knowledgeable is a tall task. If you are a marketing and idea genius you are going to need a partner who is an operational genius and business experts who can handle all the sophisticated financing and administrative tasks. Then, as you grow your company, you will need great managers across the organization. Being part of a program for several years lets you network with many people who have the advanced skills that your business will need. Working on projects and brainstorming ideas together will let you get to know them and show you their character and expertise. You will be able to offer stock options and staff key positions with the contacts you make while getting your degree.
Get the Advanced Knowledge You Need
An undergraduate degree in business administration is like a basic starting point in life. MBA programs, on the other hand, offer a rigorous academic program and advanced training that truly prepares you for entrepreneurial ventures and the upper echelons of corporate management. You will be challenged by both the professors and fellow students to up your game and take the learning and translate apply it to real examples in conjunction with your projects and teams. When you create a startup, you have to know all areas of the business. From finance to sales to management and human resources, you have to be knowledgeable and savvy about all disciplines within the firm. Your professors will challenge you with demanding course work across all of these areas and, because your fellow students will in many cases be business veterans, they will bring real world knowledge and skills that will further enhance your educational experience.