Most entrepreneurs have always taught about one of these scenarios: start a business and get an MBA or pursue an MBA and then start a business. Either way, the bottom line is you should try to start a business. You can know enough about finance, marketing, sales, and business administration through experience or a business school. About 5% of full-time 2011 business school students founded their own companies right after graduation-in a survey of administrators, career-services advisors and published reports.
Most prestigious business schools including the manchester business school are now offering courses or facilities for building startups. Investments in business incubators and courses that enhance and promote creative enterprise development can equip the student 2.o to take up the challenge of creating businesses and jobs. Business schools are capable of equipping would be entrepreneurs who need the right tools, network and the courage to build a business rather than just looking for a job.
Knowledge about entrepreneurship and starting a business can be a great stepping stone to your next startup, but the level of passion and confidence to take risks and run a startup cannot be taught in your businesses school. The importance of learning by doing cannot be overemphasized but the significance of a great business school and its associated benefits may be worth your time.
A lot of the problems entrepreneurs face are very similar, whether it’s working out how to raise finance, build a team or market a product. Business schools are known to pass on general knowledge about running a successful business. They give knowledge advantage only if that advantage can be effectively applied to the world of work. You can perfectly broaden your horizons and increase your opportunities.
Some outspoken entrepreneurs would rather get business experience whilst running their own businesses than take time off to pursue a business course. But traditional MBA programs are changing with time and some schools now encourage students to take up entrepreneurship programs as part of the curriculum. There are some schools that have a very strong entrepreneurial program – including Michigan, Berkley, Stanford, Carnegie Mellon. In The UK, a manchester MBA offers students the opportunity to get practical experience with real clients.
For some, earning an MBA is all about boosting future earnings; others want to learn how to start, grow and run a successful business; some turn to the MBA primarily for the intellectual stimulation. Whatever your reason for pursing an MBA, you should work at walking away with not just a certificate but with the ability to make an impact in society.