How many entrepreneurs have an MBA?
Many successful entrepreneurs learned their business world skills from an MBA degree. MBA courses equip students with the practical and theoretical knowledge needed to thrive in a company or entrepreneurial setting.
Aspiring entrepreneurs come from many walks of life and can vary in age range. Some decide to begin their own venture late in life, whereas others go straight from university to a startup. Close to one in ten of them has a Master of Business Administration. The number of business owners with this degree saw a 25% jump from 2010 to 2023.
In 30% of cases, a student will seek out an MBA specifically so that they can gain expert advice and insight into becoming their own boss. The prestigious nature of this degree means that potential investors tend to favour those with it.
Famous entrepreneurs with an MBA
It is, therefore, no wonder that many of the most famous industry minds attained an MBA before creating their new business. Some of the more notable examples include:
Michael Bloomberg, who has served in the role of CEO several times. His company, Bloomberg L.P., has become one of the world's most successful media firms.
Melinda Gates, who chairs a billion-dollar foundation with Bill Gates. Her example stands out as she has used her vast tech industry profits to fund charitable organisations.
Larry Page, the co-founder of Google. He is considered one of the most successful entrepreneurs due to his ability to foster innovation within the web search industry.
Is an MBA good for business?
Absolutely. This degree can enhance your potential job opportunities by making you more marketable within your chosen sector. Recruiters for managerial roles may sometimes specifically target and select candidates who have studied leadership. With this boost in sector appeal comes increased earnings. Therefore, you can look at an MBA as an investment in your future.
Besides the monetary benefits, you should also consider all of the key skills you will get to master. You may be focusing on a specific industry, such as marketing, consulting, or finance, and you can tailor your MBA experience to align with your future career goals.
Walbrook Institute London provides courses on several popular business areas. They include:
Should I get an MBA as an entrepreneur?
It's fair to say that the business world is extremely competitive. You need a deep understanding of your sector and know which business strategies to implement. The first step of your entrepreneurial journey is arguably the most important.
If you go into business ventures without the proper preparation, you can make several easily avoidable mistakes. You'll also fail to utilise key strategies, which can be learned by studying at Walbrook, where our experienced faculty will teach you the key financial principles that go into a successful startup.
Are entrepreneurship master's programmes worth it?
If you take the expert advice from teachers and use the networking opportunities that will come your way, an MBA can offer significant value for money. Many people go to business school because they wish to start their own company. So if you see yourself as the next Steve Jobs, you first need to master the necessary skills.
High tuition fees may put some off. However, if you choose a lower-cost, high-quality university, then it will be well worth the money. Online learning, in particular, offers you greater freedom and flexibility. This learning format is arguably the best way to start becoming an entrepreneur.
'Will an MBA help me start my own business?' The MBA's benefits
It's a great way to make a career change
Mature students who want to move on to something new could accelerate their career change advancement with this degree. This means that they do not have to return to square one after swapping jobs. Instead, their higher qualification will allow them to move into a senior role faster.
It establishes a basic level of credibility
MBA students who graduate with an MBA will enhance their worth in the eyes of employers and investors. Attaining this degree shows that you have the ability to analyse complex situations and make informed decisions about business opportunities. This will give you an important competitive edge.
It can give you the confidence to start your own company
Perhaps you are a would-be entrepreneur who simply does not know where to begin when it comes to building a successful business. This is where the theoretical side of an MBA becomes particularly useful. You will learn key industry insights and tips that will make you much more comfortable in establishing your startup.
The experience of earning your degree will also aid in your personal development. It can improve your communication skills and sense of confidence. These two skills are vital for anyone wishing to succeed in business.
It expands your network
Many of your fellow MBA students will have joined the programme for the same reasons you have. Together, you can build a strong network that aids your professional development. You can expand upon this further by including your teachers and any industry experts who may deliver part of the course.
The role of education in entrepreneurship
Successful entrepreneurs know that creating your own business starts with the right mindset. The topics you learn at business school will have direct practical applications throughout the lifespan of your company.
There is a reason why so many corporate leaders were once MBA students. Their education gave them the skills and expertise needed to outcompete their rivals. It also taught them how to use innovative ideas to expand their firm's growth.
Once students leave this course, they will notice themselves making informed decisions based on their MBA experience.
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Practical applications of MBA skills
Launch your entrepreneurial career the smart way
You can take a cost-effective approach by taking advantage of affordable tuition fees and gaining access to a first-rate education. Attaining an MBA will allow you to engage in critical thinking, understand financial management, and know how to respond to market trends.
Regular exposure to new ideas
The corporate world is constantly changing, and startups that use old-fashioned practices are often doomed from the very start. At business school, students discover new and creative ways to move their startups forward. This insider knowledge can be invaluable for aspiring entrepreneurs.
Hands-on learning through a collaborative environment
During an MBA course, you can learn from both the faculty and your fellow peers. The team-based atmosphere is perfect preparation for the corporate world. We tend to think of entrepreneurial giants such as Steve Jobs achieving all of their goals solo. However, it is important to note that many industries are collaborative and rely on groups working cohesively.
A knowledge of how to scale a business
The right entrepreneurial mindset is about thinking towards the future. How can you expand your startup and achieve progressive growth? One of the key benefits of an MBA is gaining the ability to achieve this by putting classroom theory into practice.
Innovation and entrepreneurship
Thinking outside of the box is another important element of business. Walbrook offers a degree in Innovation, in which students learn how to make bold, creative decisions and follow them through to completion. It will benefit you greatly when it comes to inventing a never-before-seen startup.
Begin your entrepreneurial journey today
If you want a high-quality education, you should apply for an MBA at Walbrook. Our MBA programmes will teach you key entrepreneurial skills and help you advance to the next stage in your career.
The flexible nature of our programmes makes it ideal if you are a working professional who wants to study at your own pace. Choose between full-time (14 months) or part-time (24 months) learning.
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