3 Major Benefits of an MBA Degree for Your Business Career
Whether you currently own or manage a business, work in a leadership role, or hope to become an entrepreneur soon, you probably realize that success in these areas comes down to more than just hard work and/or luck.
While entrepreneurship is, in many ways, easier than it once was thanks to technological developments, the downside is that more and more people around the world wish to lead teams and become successful business people now.
With so much competition, plus potentially not just your career but also your time, money and health on the line, it’s vital to do everything you can to achieve your goals sooner quickly. That’s where studying an MBA degree can really help you on your way. Read on for three of the major benefits completing this kind of course can have, no matter the industry you’re in.
Learn Practical Skills You Can Implement
One of the first key advantages of enrolling in an AACSB-accredited online MBA or other relevant program is that these courses will teach you a raft of beneficial business skills you can use in a practical way during your career.
For example, throughout your studies you can hone skills such as communication, leadership, time-management, critical thinking, using your imagination, problem solving, analysis, project management, reporting, finance, negotiation, and organization.
As part of an MBA degree you will need to listen well; work with others to complete group assignments; speak in front of a group; write essays, reports, strategic plans, and business plans; learn about accounting practices and financial markets; take in, analyze, and synthesize large amounts of information; complete work to deadline; get your point across in a succinct way; and more. All of the requirements of the course will help you to get ready to lead a business, and/or to be a better manager and entrepreneur right now if you’re already in the role.
Being able to network with like-minded, interested and talented people is another key reason to enroll in an MBA degree. For many graduates, one of the best things they take away from their studies is the chance to make contacts and friendships with people from all over the country (and even the world) who they would otherwise not have had a chance to meet.
During an MBA you can get to know people from all sorts of cultures and walks of life, which can open your eyes to new ways of doing things, business and leadership wise, plus expose you to information about international markets.
In addition, keep in mind that it’s likely some of the close relationships you develop during your studies will help you during the hard times when you’re leading a team. No matter how successful your organization is, you are bound to have plenty of lows, and need people who can support you through them. Having educated, level-headed, and kind people you trust, who you can turn to on the challenging days when you need a shoulder to cry on or someone to listen to you, can be invaluable.
The contacts you make can also end up being helpful in other ways. For example, your fellow students can help you come up with solutions to problems or new ideas, and they might end up becoming your advisors, business partners, investors, suppliers, contractors, or employees.
Become More Interesting to Investors, Potential Employees, and Journalists
Lastly, once you have an MBA degree you can also become much more interesting and attractive to potential investors, lenders, and business partners. People thinking of parting with their money need to know that you have an idea of what you’re doing, have helpful skills, know how to manage your time, and can commit to long-term projects. Having a degree in business can be a big plus when evaluating you as someone to invest in.
Similarly, when you need to attract top talent to your team, especially when you’re a start-up that isn’t known or with many “runs on the board” yet, having an MBA degree can help you to be seen more favorably by candidates. Rather than someone who has simply decided to open a business on a whim, you have spent years studying the area and can show that you will be much more likely to turn your business into a success and a more stable employer as a result.
When you’re running a new venture, it’s also important to market your brand and wares effectively. A helpful way of doing this is to be interviewed, and see your products and services mentioned regularly in the press. Completing MBA studies can help you to attract more interest from journalists, and be taken more seriously.