How to Go Back and Get a MBA as a Business Owner
Running your own business isn’t an easy feat and neither is educating yourself. You have to have someone balance making enough money, optimizing the business so you can step away, figuring out how to study for the GRE, and getting into your ideal university. Currently, in my profession, I have considered going back and getting a graduate degree to further my education. However, there are a lot of things holding me back, but I wanted to hear from other entrepreneurs how they were able to successfully accomplish this feat.
Somehow these individuals were able to wear different hats in their business at the same time get accepted into their dream college. Pursuing your education through postgraduate degrees can impact your personal and professional development, providing you with the necessary skills so you can efficiently run your business.
Here’s how continuing to study as a manager can enhance your business.
1. Build Connections With Your Ideal University
Getting into a postgraduate degree isn’t a walk in the park as you’ll have to use materials such as Kaplan courses to review and get a good score in your entrance exams. This phase might be tough, but with the connections you’ll make after you get into a postgraduate degree, your efforts will be worth it.
Having the opportunity to make connections with different people in the business arena is one of the biggest benefits you can get once you decide to continue your studies as a manager. More often than not, your classmates when taking a postgraduate degree will include new business owners and experts in their own niches.
The connections you’ll make as you earn a postgraduate degree can help you develop professional relationships with other players in the industry. These relationships can come in handy whenever you experience problems about your business or if you’re looking for partners to work with.
2. Focus On Your Interests
The people you’ll meet as you’re earning your postgraduate degree can be a great source of information and can help you run your business more smoothly. These experts will usually have years of experience in handling problems that you never encountered as a new business owner.
But aside from being a great source of business information, the knowledge you’ll learn from these experts can also become your foundation the moment you decide to choose your specialization and proceed to doctoral studies.
If you were able to make healthy connections with financial consultants as you’re taking your master’s degree to become a manager, you could choose to read reviews on materials for your Graduate Record Examinations and focus on finance for your doctoral studies.
This leverage allows you to become an expert in a specific niche while still being able to handle all facets of your business as a manager.
3. Broaden Intellectual Interests
As mentioned, you’ll have to play different roles the moment you decide to run a business. Aside from being the business owner, you also have to function as a recruiter, accountant, and marketer for your own business.
You can become more efficient in playing all of these roles once you continue to study as a manager. A postgraduate degree can be your avenue to improve your weak areas, making it easy for you to develop holistically.
If you think your experience and training as an undergraduate aren’t sufficient for you to properly handle your business’s finances, you can enroll in a postgraduate degree in finance or accountancy. If you don’t have any idea how to create strategies for optimal employee engagement, choosing a postgraduate degree in human resources can be a great option.
4. Take On Intellectual And Personal Challenges
Stagnancy is an entrepreneur’s enemy. The business arena is fast-paced, and if you want to succeed in your own business, you should know how to keep up with the times. As a manager of your business, you should learn how to be innovative and continue to excite your customers.
Enrolling in a postgraduate degree requires you to take on intellectual and personal challenges regularly. Most postgraduate degrees will require its students to submit an extensive research project or dissertation.
These requirements can be time-consuming and taxing, but once you’re able to complete these, the rewards are huge. Accomplishing all of these requirements as you’re managing your business is a testament to your understanding, knowledge, time management skills, and ability to think critically.
The skills you’ll develop as you’re earning your postgraduate degree can contribute to your personal development and can be applied in your business. For example, critical thinking is crucial for every business, as this can help you come up with sound decisions with minimal risks.
Small Factors Matter
You’ll have several postgraduate business degrees to choose from today – from accountancy, management, manufacturing, marketing, and leadership. And while all of these degrees can impact your business in a unique way, you should spend a lot of time choosing one.
When continuing to study as a manager, take time to consider your current skill set and business direction first. The postgraduate degree you enroll in should improve your weak areas and complement your business goals.
Jeff Butler Internationally respected speaker and consultant, Jeff Butler helps bridge generational gaps between Millennials and companies looking for their talent and patronage. Butler has quickly built his reputation as a memorable presenter with tangible solutions for attracting, retaining, and engaging Millennials as employees and customers. Within just the past three years, he has spoken at two TEDx events and multiple Fortune 500 companies such as Google, Amazon, and LinkedIn.