Stuck in the middle of hard economic times, many small business owners feel desperate to tap any hidden avenue they can find to improve their company’s outlook. And for many small business owners, the one seemingly sure-fire way to take their business to the next level lies in acquiring an MBA.
But can an MBA really improve your small business, or is this degree nothing more than an over-hyped slip of paper?
Debunking Attacks on the MBA
In recent years we’ve seen a backlash develop against getting an MBA. While this degree once stood unchallenged, some modern analysts are questioning its viability;primarily due to the fact more people are getting an MBA than ever before.
Yes, the number of people achieving their MBA increases every year, but that doesn’t mean the benefits of completing an MBA curriculum are somehow lessened or diluted. The number of people acquiring a degree does nothing to reduce the importance or the effectiveness of what that degree taught you. It doesn’t matter if every single person on the planet held an MBA, you will still develop the same amount of practical knowledge regarding how to improve your business when you earn your degree.
Education is not a zero sum game. When it comes to improving your small business, the value of the MBA is the same as it’s ever been.
What Earning YOUR MBA Will Do For YOUR Small Business
Achieving your MBA will provide you with many benefits and opportunities you simply can’t take advantage of right now, including the following:
- You will develop a far better understanding of how every level of business operates. While you can learn a whole lot about running and improving a business from reading books and taking advantage of other free or low-cost resources, there’s no substitute for developing knowledge within a carefully structured, professionally guided classroom experience. No book or podcast will be able to provide you the personally tailored instruction offered by your MBA classes.
- Likewise, you will also develop a large number of skills that you will find crucial when it comes to running and improving your small business. So many small business owners build their company without a clear idea of how to perform even basic tasks such as analyzing balance sheets or determining the value of a deal. While you might be able to achieve some level of success without this sort of formal knowledge, ultimately if you want to operate your business as successfully and as safely as possible you will need to learn these skills, plus many more.
- While earning your MBA you will accumulate a large network of classmates, business owners, and mentors who will provide invaluable support when it comes to improving your own business. In many ways, this network represents the most valuable element of this degree. Knowledge and skills will only take you so far- unless you know the right people and know where to turn when times gets tough or when an opportunity presents itself, you will never be able to reach your business’ maximum potential.
- Achieving your MBA represents a powerful and unique moment in the life of your business. Carving out this time to further your education can give you the opportunity to take a step back from your company and re-evaluate the direction it’s going in, giving you the space you need to figure out solutions to pressing problems you’d never be able to solve while mired in the trenches of dealing with your business’ day-to-day necessities.
- Holding an MBA will increase your confidence. Sure, this might sound a little shallow, but you can’t dismiss the feeling of achievement your MBA will bring you, and you certainly can’t downplay how that feeling will positively impact how you proceed with growing your company.
The article is shared by Jason Phillips; he is one among the mba consulting experts who likes to write how to beat GMAT score and other related topics.
