Success stories of entrepreneurs such as Bill Gates and Richard Branson often focus on the fact that neither of these two highly successful and influential individuals earned a college degree. Whilst society may tell you that a college degree is essential if you want to work in a successful career, this is clearly not always the case if you have a saleable business idea that is bound to grow. However, with an increasing number of people now starting their own businesses and working from home, more entrepreneurs are considering furthering their education to improve their knowledge and skills, along with increasing their credibility in the industry. Here are some of the best reasons for self-made entrepreneurs to invest in studying for an MBA.
#1. Improve Your Knowledge
Although anybody can start a business of their own, there’s a significant amount of learning which needs to be done before you can understand how to run a business successfully. When you first started out with a business idea, you probably knew a lot less than you do today, and much of it may have been through trial and error. For many business owners with little prior experience, learning is usually done through making mistakes and trying new things to figure out what works. However, studying for an MBA will help you skip making mistakes by providing you with a solid foundation of proven business knowledge to go by when making decisions for your company.
#2. Build New Skills
As a business owner, being aware of your skills and being willing to learn new ones is all part of the career. Business owners should not only have their own skills and strengths but also understand their weaknesses and be skilled delegators in order to become successful. There’s nothing wrong with not being great at something – what makes the difference is how good you are at understanding when this is happening and finding somebody suitable to delegate the task to instead.
Studying for an MBA can be a great option for entrepreneurs who want to learn more about themselves in terms of skills, as it is a highly challenging degree option that will quickly enable you to discover where your best skills lie through learning new ones and putting them to the test.
#3. Gather a Strong Network
Lastly, being successful in business isn’t always about what you do, but who you know and how often you turn to others for advice and support. Studying for an MBA is one of the best opportunities to meet with other like-minded people since these degree programs are often frequented by people who have extensive experience with running their own business or working for others who do. Since an MBA is such a broad degree, you will meet people with varying strengths. For example, some may be better at accounting whilst others will have excellent marketing skills that they can share with you. Find out more today by visiting https://onlinemba.unc.edu/.
Are you a self-made entrepreneur who is considering studying for your MBA? We’d love to hear more from you in the comments.
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