Many professionals pursue their MBAs to better qualify for promotions, raises, and advanced positions at established and reputable companies. However, if you plan to become your own boss and start your own business, you might not see the need, especially if you have your hands full with all the business planning. Nonetheless, even as a small business owner with no plans to pursue a job with another company, you’ll benefit greatly from earning an MBA.
When you earn a degree through a program like the ones you’ll find at mba.csumb.edu, you – and by extension, your business proposals – appear to be a more educated, reliable investment for cautious investment firms, individuals, and other companies. Even the best business plans require fundraising. Demonstrating that you know what you’re doing because you’ve trained for this will lead to more fundraising opportunities and greater individual contributions toward your financial goals.
Not only do you need collateral to secure a business loan, you also need an actionable business plan to make your venture seem credible and a worthwhile risk. You are as much a part of the business as the space you’ll rent or buy, the items and services you’ll sell, and the marketing plan. Sell yourself as a professional who knows what she’s doing by virtue of the fact that she’s earned an MBA – especially if you earned it online while working another career and have shown the drive and commitment to achieving your goals.
Eventually, your product or service should practically sell itself through word of mouth. However, to start, you need a few key clients to take a chance on a new business. Your credentials as an MBA program graduate will help sell your product or service because these goods are an extension of you. An MBA makes your resume more impressive to the clients you have to convince to take a chance on what you have to offer. These first clients are crucial to eventually relying on word of mouth.
Besides the benefits an MBA provides as a business owner, you could still need the advantages it offers when looking for a job. You never know what the future may bring. You may sell a successful business one day and go back to working for other people or your business might not do as well as you’d hoped and you need another job to pay the bills. An education is key to having more career options.