For any graduate program, the time, effort, and money can be seen as an overall investment to the brand of your professional image. Even for many business owners and entrepreneurs, the idea to leave their ventures to go back to school is seen as a strong and viable option for their futures. While some may disagree to the overall sacrifice, you as a professional have to weigh the impact that a Master in Business Administration or a Masters in Finance can do for your personal and professional career.
To start off, going back to graduate school is really tailored based on a person’s current situation and professional trajectory. At times, business school may not be the right option for you. You may have seen a strong growth with your company or startup that leaving now will only hinder than help. But for other entrepreneurs and young professionals, business school may be the only option for you. For many who are unaware of the value that an MBA can do for you, they will often ask the question of why: Why should you sacrifice thousands and thousands of dollar and two years of your life to go back into the classroom? To put it simply, business school provides you with the leadership skills, business knowledge, and networking opportunities that can be valuable for your career. Even if you are a business leader and entrepreneur, the opportunity to grow your knowledge within your sector can help shape your decision on future projects and deals. For many entrepreneurs, that type of opportunity can be an incredible chance for their future. But let’s dive even deeper.
First and foremost, MBA programs are notorious for attracting the best and the brightest. With top entrepreneurship MBA programs like Stanford, Harvard, MIT, or University of Pennsylvania, it is kind of obvious why the top consultants or business leaders will leave their current work environment to be branded with those types of educational titles. But what does this mean for an entrepreneur? For anyone in business, networking is everything. It is the foundation and rock in the development and growth of your business. When enrolling into anyone of these programs, you will be given access to a plethora of resources. Leaders, politicians, lawyers…you name it, they will have it. That type of resource alone is something to seriously consider if you are still unsure of whether you should make the giant leap into the deep end.
In addition to a strong network, MBA programs provide you with the necessary foundation and knowledge in cultivating your own ventures. Yes, many may be going into the program having owned a business or two. But the biggest difference now is that you are learning holistically of various case studies and real-time practiced business strategies that you can utilize for your own campaigns. In fact, programs like this enhance and increase your pool of success. They provide you with the research, the information, and the necessary feedback to help you create a stronger plan so that you can execute on your ideas. In other real world scenarios, changes like this can be somewhat costly and damaging if they are not done effectively. MBA programs provide that cushion before your execution so that you can see success every step of the way.
Last but not least, MBA programs provide you options. For those of us who are bread to be entrepreneurs, continue on with that. But like anything, it is always good to have that backup plan. Just in case you want to make a leap into a different field, MBA programs provide you that path and connections.
Now, to of course enhance your research, be sure to read and learn what each program has to offer. A great source you can utilize is US News and Poets & Quants. If you are still having trouble with the decision, talk to your friends, family, or personal advisors. They can help you decide on whether or not you are right for the MBA track.