Reasons Why an Entrepreneur Should Attend Business School
Do most successful business owners go through business school program? The answers to this innocently posed question are such that they a distinctly classified into a bipolar category of perspective. One school is a proponent of the argument that it is a strong necessity for entrepreneurs to attend business school, while the second of thought are of the view that it is unnecessary.
The latter class of individuals usually back up their stance with the situation that many successful entrepreneurs in the world never attended a business school; they never had to go through the best MBA programs for small business owners in entrepreneurship.
This reality only makes the debate a heated one, as there are numerous citations of individuals who began singing their success symphonies because of the opportunities a business school provided them with; notable examples include Mitchelle Zatlyn and Matthew Prince, both alumni of the Havard Business school, who are now CEOs of CloudFlare—an internet company with a monetary worth of over $1.04 billion.
It is important that potential entrepreneurs are well informed before they make decisions regarding the attendance of business school, because at the end of this article, we would find that its make a significant difference if they choose to attend business school or not.
Do you need a degree to start your own business? How many years does it take to be an entrepreneur? Where do you go to start a business?
Below are some reasons why entrepreneurs should consider attending a business school a mandatory activity:
Why Entrepreneurs Should Consider Business School
To develop Expertise and Professionalism
The secret formula for the magically successful business is the depth of technical know-how its manager possesses. Lack of formal training in different business areas would have a deep impact in the overall outcome or growth of the business.
Areas such as finance, human resource management, marketing, accounting, among other subjects are some of the active areas in which entrepreneurs are fortified when they attend business school. You would no doubt agree that the trainings give such individual an edge in the sphere of business.
It Launches you into the Community of Entrepreneurs
This is one huge benefit associated with attending a business school; it exposes you to a wide sphere of alumni who have gone through a similar phase of the business of idea you are trying to make a fortune out of.
It also is a lot easier to secure a business partnership with fellow business schoolmates than with entrepreneurs that you have never shared a class with. And remember the business is usually a collection of individuals from different parts of the world, and it presents an opportunity to meet them, as well as access them easily for assistance when geography poses a challenge sometime in the future of your business.
Experts to Guide and Mentor You
Experience is definitely known to be the best teacher, but it is smart to have other people’s teacher (experience) teach you. Business professors are easily accessible being in a business school, faculty experts are always available to direct your walks on the path of entrepreneurship.
This is ubiquitous for the success of a growing venture because it makes the entrepreneur largely safe from making mistakes that would cost the enterprise so much to fix. All these expensive aids are cheaply afforded in a business school.
There are Lots of Business Programs to Develop You
There are activities and exercises conducted in these schools that go a long way in establishing the spirit of entrepreneurship in any individuals; a number of such programs include the Venture laboratory, the entrepreneurship club, and the Entrepreneur in residence program.
They help to develop the skills as well as the confidence that the students possess in the areas of business considered. For instance, the Harvard Business School Entrepreneurship club provides a scheme by which students can acquire entrepreneurial resources, network with a community of entrepreneurs, and exchange ideas.
These programs generally are geared towards the enlightening of individuals on all the important concepts about businesses whether new, small, or gigantic ventures.
The participation of individuals in these programs also raises the gages of one’s confidence, in the sense that, these programs also engage the participation of highly successful and sometimes renowned entrepreneurs. This is aside from the confidence the students get from the Curriculum in the MBA program itself, considering the quality of the learning.
It Gives the Opportunities to Test How Powerful your Ideas Really Are
One constant element in the universe of entrepreneurship is competition. But in the business school, this takes a slightly different look from the traditional competition encountered in the business sphere.
Most of the big businesses host a business plan competition. In the course of participating in these competitions, entrepreneurs test the strength of their ideas by weighing criticisms and commendations; the recommendations they get helps them bridge whatever loopholes they detect.
It is also exciting to note that these competitions go with rewards and monetary awards that can go into the rocketing the ideas from papers to land.
It is interesting to know that these Business schools often present opportunities, aside from via contests, but also through loans. First they present your profile easily to the purview of potential angel investors that sometimes pick interests in certain striking ideas students have.
Then just like the Harvard Business school, there is usually the chance of securing loans to startup your business. Most times, particular attention is paid to individuals who have the opportunities to secure high-paying jobs but let it slide in order to build their own small establishments and immediately after graduate school.
In conclusion, one sees that it is only a play in the casino of business to attempt starting up a business without being adequately informed in a business school what are the “ins” and “outs”.