If you’re thinking about building your own business, you’re not alone. Entrepreneurship is a goal for many people pursuing an Executive MBA. In fact, about 30 percent of EMBA students aspire to become entrepreneurs or self-employed after they graduate. This is hardly surprising given that entrepreneurs on average enjoy higher incomes, a better work-life balance, and more career satisfaction than those in traditional careers.
While the benefits of entrepreneurship are clear, the odds of success improve with a strong foundation of business knowledge. An EMBA can provide that knowledge andgive your entrepreneurial ambitions a head start. Here are a few other ways entrepreneurs get value out of an EMBA.
EMBA students enjoy networking opportunities
Networking is important in just about any career, but especially so as an entrepreneur. Being your own boss has significant advantages, but it also comes with risks, including professional isolation. For entrepreneurs who run one-person businesses, a lack of interaction with other professionals can mean missing out on the latest developments that are affecting the industry. Networking often leads to concrete benefits for small businesses, such as new clients and access to top talent.
In EMBA programs, you get an automatic network that helps combat some risks inherent in building your own company. You will get access to your business school’s alumni network, be able to attend lectures from industry insiders, and forge relationships with your peers that can benefit you throughout your career. Since EMBA students have considerable professional experience, these relationships are also more likely to lead to opportunities that could help your business.
Want to find out more about the networking benefits of an EMBA? Check out Are You a Graduate Business School Candidate? Learn How an EMBA Can Unlock Networking Opportunities.
An EMBA can help entrepreneurs become better leaders
As an entrepreneur, you will need strong leadership capabilities. In fact, many of the people who pursue entrepreneurship do it out of a desire to become leaders. Our survey found that 93 percent of respondentssaid being their own boss was a very or somewhat important motivation for becoming an entrepreneur.
While a desire to become one’s own boss shows an overall willingness to be a leader, turning that desire into a viable career presents challenges. Fortunately, an EMBA can help mold these aspirations into concrete career skills.Our survey uncovered that EMBA alumni were more likely to say that their program “Prepared them for leadership positions” than alumni of any other program. Given that EMBAs are designed for experienced professionals looking to accelerate their careers, it’s no surprise that these programs are good at developing leadership qualities in students.
Flexible scheduling can help ease the transition to entrepreneurship
Trying to start a successful business takes time, and during the transition you may have to juggle multiple tasks. You may even still be employed as you try to get your business started. As a result, managing time is often a challenge, which is why finding a flexible graduate program canprovide a significant advantage. Some EMBA programs, for example, offer classes in the evening, on weekends, or in blocks during certain periods of the month. This diversity makes it easier for busy students to find a program that better fits in with their other commitments.
This move towards flexible scheduling begins during the application process. Completing an assessment is one of the executive business program requirementsfor admission at most business schools. However, many EMBA programs now accept the Executive Assessment, which takes just 90 minutes to complete and requires relatively little preparation. For entrepreneurs who want to focus on their new business, the Executive Assessment offers an easier way to balance studies and work.
Do you want to begin an EMBA and reach new heights in your career?
Check out how a graduate business school exam like the Executive Assessment can help.