If you think of yourself as a future entrepreneur, you might just think you’re going to be a rugged individual, going it alone through the business jungle, hacking your way through it until you come out the other side as a successful business person and household name. But that’s not quite the case, especially these days.
Entrepreneurs simply cannot afford to go it alone any more. For every Richard Branson, there are thousands of entrepreneurs who really should know better – or have known better. Sir Clive Sinclair is one classic example - as an inventor, he was second to none, considering his contribution to home electronics and computer equipment some decades back.
As for being a business person, though, well, all you have to do is remember his C5 battery-operated “vehicle” to realise that there’s more to making one’s fortune than simply coming up with ideas – you also need to make sure those ideas are going to be workable and acceptable before devoting your time and energy to bringing them onto the market. And let’s not forget the financial aspect, either.
But then again, entrepreneurs never have a 100% success rate, and that’s all part and parcel of being one – even if you’re chairman of Mensa, like Sir Clive was for seventeen years.
The object of the exercise, though, is to make as few mistakes as possible – and that’s where undertaking an MBA course is essential for any budding entrepreneur.
An MBA course gives you the means of seeing the bigger business picture and the knowledge to deal with those real problems that come with creating and marketing a world changing product or service.
But it’s not just about dealing with problems: whether you’re studying for your MBA online or at any business school in the UK, you’ll be learning to spot business opportunities and how to capitalise on them. You’ll also be learning the language and way of thinking you’ll be sharing with many others you’ll be interacting with further on down the line – especially those in the network you’ll be developing throughout your studies.
And as well as seeing the bigger picture, knowing how to deal with problems, the ability to spot business opportunities and that all-important network, it’s worth looking into as many MBA programmes as possible before deciding which one to take, because some of them actually offer incubator set-ups, together with mentoring from tutors to get your business up and running before you’ve completed your studies.
So yes, if you’re planning on a career as an entrepreneur, of course you could be that rugged individual, battling your way through the business jungle all by yourself … but your chances of coming out the other side as a success – let alone a household name – would be greatly increased by gaining an MBA.