Can an MBA Help You as a Small Business Owner?

Posted by Kaylie Phelps on August 17th, 2017

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You may have noticed that it is now easier than ever to enroll for an MBA course. Thanks to colleges like Washington State University offering an online executive MBA course, you no longer have to relocate to get your masters in business or cut into your life with your studies more than you want
to. In effect, an online executive masters in business administration means that it is entirely possible for you to do a course like this while also running your business.

However, do you really need to spend time doing this? Aren’t MBAs more for people who are seeking executive level employment rather than for entrepreneurs? Well, actually there are a lot of reasons why doing an online executive MBA program can be a good move for those who run SMEs.

Filling Your Own Skills Gaps

When most of us start a business, there are weaknesses in what we know. Usually, we know a lot about the industry or area we choose to work in, but may not know about some other elements of making a business successful, like finance, law, or marketing. By studying the material involved in an online MBA course, you’ll learn a lot of things that may help plug up your own gaps in knowledge. This will not only make you better at strategizing and a more effective business person but may also mean you have to spend less on hiring third parties to help you.

Gaining Respect from Potential Allies

No matter how you look at it, an MBA is a well-respected qualification and people who hold one are usually accepted as knowing their stuff. When you want to gain investment or form business relationships, being someone who has achieved this qualification and who knows the high-level business information studied on an MBA course, you will find things a lot easier. While you may not plan to go to interviews any longer as you are a business owner, you will still have a lot of important conversations that could help or hinder your career, and being seen as a well-qualified business expert will give you an advantage.

Networking

As previously discussed, having an MBA may well make people take notice of you and treat you with respect in your business dealings. However, another related benefit is the people you can meet while you are doing your course. Even online courses can help you to make contact with other students, and some of these can turn out to be useful business associates later on. If you work in the B2B sphere, this can be especially important.

An MBA isn’t just for people who want to be hired by a company for a job at a higher level. It can actually serve entrepreneurs very well. If you meet the criteria and want to put some time into studying something that can really help you in your career as a business owner, then an MBA is a great choice.

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    Welcome! I'm Mrs. Money and I lead a frugal, simple, and debt free life on a modest income. I make money online to help support our family. I believe in saving money, living green, and enjoying life!

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