How Useful are MBAs for Starting Your Own Business?
by Startacus Admin
Because starting your own business is always going to be a gamble, it’s often a good idea to do as much as you can on your end to ensure you have the tools and skills in place for success. For some people, the question may arise as to whether or not an MBA can prove useful in starting your own business. Can it help you to better navigate through the obstacles and challenges that are bound to come your way? Will it better equip you to shape and mold your business, and can it increase the odds of success?
Here we’ll take a look at what benefits an MBA can offer when you’re getting ready to start your very own business.
It Can Provide You with Insight and Clarity
One of the benefits in having an MBA is that it helps you to have that insight and clarity about how a business operates, when it's time to grow, how to grow, and when it's 
time to cut back and streamline, just to name a few. It is able to help make the decision process clearer, which can allow you to make those difficult decisions that will end up benefiting the business in the end. You aren’t just walking around blind as to what’s involved in running a successful business.
An Online MBA Can Provide You with Additional Flexibility
Something that may be currently holding you back from obtaining your MBA is the fact you don’t have the time, or money to invest in full-time schooling. This is where online MBA benefits can really have a big impact. As Jack Welch MBA discusses in the blog titled “Is Business School Worth It?”, by enrolling in a top ranked online MBA program, you will in fact be beefing up your skills and knowledge.
Take for example the category of soft skills, which includes things like critical thinking, communication, problem-solving, collaboration, and leadership. A degree can help you to master each of these skills, which in the end helps you to be a stronger, more effective business owner.
It Can Help You to Build Your Network
Another benefit in obtaining an MBA is the fact it can help you with networking, something that is vital to a new
start-up. You will get to know other students in your class most likely, and you can attend events. All of this will allow you to build your list of contacts that can end up being great investors, partners, vendors, suppliers, customers, etc. in the future.
Enjoy Added Credibility
As a new business owner, it can be hard to build your credibility in your industry. You’re the “new kid on the block” which doesn’t always lead to success. By having that MBA, you actually give yourself credibility, which will reflect on the business and help your venture to look that much more professional.
So, while it’s not absolutely necessary to have an MBA in order to start your own business, there are a number of benefits that it does offer. These benefits can help bolster your chances of success.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
The lowdown on the innovative companies that have been accepted into Net Zero 2.0, the programme dedicated to supporting the UK’s most promising climate tech companies
Fintech startup Lightyear announces major funding boost to accelerate its plans to open up transparent and low-cost investing to everyone in Europe
Planning to build your business into a luxury brand? These tips will help you do just that...
.png)
The lowdown on Abtrace, the startup that's created an AI solution to help clinicians make more informed decisions and deliver earlier diagnosis
Micro learning made easy thanks to Uptime, the app that enables users to access 5-minute Knowledge Hacks from the world’s best books, courses and documentaries
.png)
New UK Insurtech brand Adiona launches and reveals mission to use smart tech and data to provide fairer premiums and a better customer experience
Shutterstock acquires PicMonkey to help expand its offering to small businesses, by providing additional tools to non-professionals to elevate their visual content
The future of work is flexible at Xero thanks to its new work program aiming to support its global workforce - wherever they may be
The Cork-based startup that has created Nooka Spaces, the world's first network of smart proximity office spaces designed for people who work remotely.
Thermulon launches CrowdCube campaign to help bring its innovative aerogel solution to the fast-growing global thermal insulation market.
Published on: 10th November 2018
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Shutterstock Acquires Leading Creative Design Platform PicMonkey 10th Sep 2021 Shutterstock acquires PicMonkey to help expand its offering to small businesses, by providing additional tools to non-professionals to elevate their visual content
- Thermulon fundraise to support development of innovative thermal insulation product 8th Sep 2021 Thermulon launches CrowdCube campaign to help bring its innovative aerogel solution to the fast-growing global thermal insulation market.
- UK's Female Startup of the Year 2021 competition now open 3rd Sep 2021 Inspiring and ambitious female founders take note - Enterprise Nation's annual Female Startup of the Year competition is open for applications
- ECOncrete Secures $5 million+ Series A Funding 1st Sep 2021 Major funding boost for ECOncrete Tech to support development and growth of its innovative ecological marine construction solutions.
