Are you thinking about heading back to school to pursue an MBA degree? Good for you sir or ma’am. You seem to be taking the step in the right direction. But when sitting through those boring classes ask yourself, “will this degree help me succeed?” Hmm, maybe it will or maybe it won’t.
Why Go Back?
Probably one reason why you want the MBA degree is that you hope to get a well-paying job in a big company. Which is cool to strive for, but do not rule out other routes. You could forego the MBA program and start a startup company that could leave you feeling satisfied and financially stable, if your company succeeds.
MBA Vs Starting Up A Startup
It is understood that working in a large business gives people a more secure feeling and a steady income. Likewise starting your own company can provide you with more potential gain but higher risks are involved. So maybe that MBA can be your safety net to catch you when you fall.
The Perks Of An Starting A Business While Studying
MBA programs are roughly two year programs, which is fairly short and sweet. After obtaining the degree, you will be able to ask for more income when applying for jobs. But remember while you were sitting in class, you were losing money. With saying that, it can be harder for you to start up a business after graduation because now you’re searching for big gigs that will help you pay back student loans before interests rates go up… again. Keep that in mind.
MBA programs rely a lot on group thinking. Stay true to your business goals though even when you and your group have a 20 page group paper and a group presentation to finish. Group projects can be good, but don’t lose your individuality. Though you are learning in a group environment lots of learning takes place outside of class.
At the same time, starting a business while gliding through the MBA program can help you greatly. Classmates, well versed in different majors, are likely to be supportive of your business endeavors. MBA programs are full of people with difference experiences which you can bounce ideas off of. Take advantage of the diversity of everyone in your classes, they can end up being your future partners in a startup.
Depending on the university, funding and materials may be at your disposal too. Also you have two years to solidify your business. If your business doesn’t happen the way you want it to happen, then you can always get a “real” job instead.