5 Reasons Why Every Aspiring Entrepreneur Must Get an MBA

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According to the Kauffman Index of Entrepreneurial Activity, 280 out of 100,000 adults started/opened their own business every month in 2013. While there was a slight decline in the business creation rate from that of 2012, the key takeaway was that more and more Americans felt encouraged to start a business in the current economic environment and the numbers are expected to rise in the current year and the years to follow.

The majority of entrepreneurs reported that they were driven to start a business to pursue opportunity rather than out of necessity, as stated in theForbes article.

This must sound like music to the ears of all aspiring entrepreneurs in the country. The environment seems just right for them to start your dream venture. The cost of starting a business is at an all-time low, funding is easily available, and social media has made marketing on a budget a reality. There is positive optimism all around!

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But before you go ahead and start putting your dream together piece by piece, ask yourself if you are ready to take on the challenges of the business world. It’s not enough to have a great idea or even willing investors. You need more than that.

So your ‘great idea’ would need to be supported by several other things, and you can learn how to go about it by getting yourself an MBA degree. Why an MBA? Here are five compelling reasons:

It’s the most relevant degree for your needs

CTX-image-2As I mentioned earlier, a great idea does not automatically translate into a successful business. To run a successful enterprise, you need a keen understanding of different business functions be it strategy, marketing, or finance. An MBA for entrepreneurs will provide you all the tools you need to run a business.
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It will make it easier to raise funds

With venture capitalists and start-up incubators/accelerators marking their presence, there’s a whole lot of support for new businesses in the country. You may think it’s easy to sell a great business idea (and in some rare cases it maybe so), but rest assured that having a business education will make the selling part much easier. A lot of venture capitalists are businessmen/women themselves and many of them hold advanced degrees. They are bound to value your business education.

It’s a great way to learn from others

An MBA is one of the most prestigious graduate degrees that attract the brightest minds. Pursuing an MBA for entrepreneurs will put you in an inner circle of future business leaders and provide you a platform to share knowledge and exchange ideas with them.

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It will help you avoid expensive mistakes

Learning ‘on the job’ is fine, but as a rookie, you can end up making mistakes that can affect your business. An MBA program, known to have among the most rigorous coursework, will help you avoid making costly mistakes. The last thing you want is for your business to go under because you couldn’t manage the books.

It will teach you the A-Z of entrepreneurship

Contrary to popular belief, entrepreneurship is not a solitary effort. Entrepreneurial success only partially depends on one individual’s brilliance, his/her great ideas, and their propensity to take risks. Through an MBA degree, you will learn that entrepreneurship is more about teamwork and networking. It’s about establishing and maintaining contacts. It’s about building and nurturing business relationships. A business education will make you more knowledgeable about what entrepreneurship means and how you can sustain it. What’s more, you’ll even get valuable tips on how to go about setting up and managing your dream venture.

At Concordia University Texas, we have just the right online MBA program for entrepreneurs and aspiring business owners. Learn the core values and concepts of business with our online MBA program. Enroll now!