There’s no doubt that small businesses are the biggest contributor of new jobs and innovative products in this country.  If you’re interested in getting your mba, and you have dreams of starting your own business one day, then you should think about getting your mba in entrepreneurship.

Why Get An Entrepreneurship MBA?

Think, for a moment, about how challenging starting a new business can be.  You’ve got to start with a unique, compelling business idea.  Then you’ve got to research the market to see if people will actually be interested in your store or product.  Then you’ve got to find funding, develop a business model, and then get this enormous ball rolling with enough momentum so that you start making money.

The Small Business Administration (SBA) reports that an overwhelmingly large percentage of businesses fail within their first five years, with the numbers ranging from 50%-75%.

Why do so many businesses fail?  The SBA lists lack of experience as the number one reason.

This is why getting an entrepreneurship degree is so important.  With this mba you’ll learn the ins and outs of how to be your own boss and run a successful business.  An entrepreneurship mba will help ensure you don’t waste time and money with “on the job” training.  With this degree you’ll be able to hit the ground running once you graduate (or, if you’re like many students, you could start your business while you’re still in school).

Entrepreneurship MBA Programs: What You’ll Learn

One of the reasons that getting an entrepreneurship mba degree is so exciting is that you’re learning skills that will benefit you, and not someone else.

For instance, when you get a traditional mba degree you’ll most likely end up working for someone else.  Your hard work and skills are making them rich, and even when you work harder than before you still make the same salary.

With an mba in entrepreneurship, however, you’re learning skills to help you succeed in your business.  It’s definitely a turn of the tables, and it makes going to class incredibly exciting because you learn that the harder you work, the more you earn.

So, what kind of classes might you see in an entrepreneurship mba program?

Here are a few examples:

  • Managing Entrepreneurial Growth – What will you do if your business explodes?  Unmanaged growth can sink a company just as fast as no growth at all.  Here you’ll learn how to manage the growth of your company so you’re not overwhelmed.
  • Opportunity Identification and Analysis – Do you know how to spot new opportunities?  Can you identify which good ideas will pay off?  A class like this is where you’ll learn these important skills.
  • Entrepreneurial Management – This mba class will teach you how to manage your new business.
  • Gathering Resources and Launch – Here you’re going to learn how to take your great idea and turn it into a real business.
  • New Venture Creation – In this class you’ll learn how to write a business plan that you’ll actually use.
  • Innovation in Business Marketing – Consumers literally see thousands of ads every single day.  More and more businesses are discovering that they need to get much more creative with their marketing if they want to succeed, and in this mba class you’ll learn how to get creative in your own marketing efforts.

As you can see, enrolling in an entrepreneurship mba program means you’ll have the opportunity to take some truly exciting classes.   You’ll also leave with some very important skills that will help your business succeed.

Most mba programs make sure their graduates are skilled at negotiating, marketing, employee relations, management, leadership, and decision-making.

Careers With A MBA in Entrepreneurship

The great thing about getting an entrepreneurship mba is that you can pretty much go anywhere and do anything with this degree.

Contrary to popular belief, however, you don’t have to start your own business with an mba in entrepreneurship.  If you’re not interested in working for yourself, there are plenty of companies that would be happy to employ you with this mba.

The reason is because in this mba program you’ll learn how to start, manage, and grow a business.   These are highly sought-after skills that can apply to any industry.  With this mba degree you could work as a corporate manager, corporate vice-president, department manager, business consultant, or CEO.

As you can probably guess, however, most people enrolled in the entrepreneurship mba degree program want to start their own company.  The SBA reports that, in an average year, over 600,000 new businesses are created.  With the knowledge and skills you’ll gain with an mba in entrepreneurship, you’ll have a much higher chance of success than most people.

As far as how much you can earn with an entrepreneurship mba, it’s impossible to say.  Everything depends on what you do with your degree.

If you decide to start your own business, you could make nothing (many entrepreneurs don’t start taking a salary until their business has been open at least a year) or you could make millions.  It all depends on your idea and how well you run your company.

If you love the idea of being on the leading edge of business, if you’re a risk-taker who thrives on innovation and change, then you might be the perfect candidate for an entrepreneurship mba.

Additional Resources

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