By Giselle Weybrecht
Have a business idea (or many)? Even though we regularly hear stories of individuals who started their wildly successful business from their garage without a business degree, this isn’t the norm. Many students choose to do a business degree specifically because they want to start their own businesses. The degree is an important tool to increase your chances of being successful at developing your ideas, and then launching and growing them. Here are 10 reasons entrepreneurs should consider business school.
1. Getting the basics down. Being an entrepreneur means you are in charge, which further means you need to know a bit of everything and understand all parts of the business, from finance and marketing to operations and accounting. Business school gives a good base that you can tap into, especially in those early days when you are likely the only employee in your business.
2. Learn more about entrepreneurship. Entrepreneurship is such a popular subject for students that most schools now offer a range of courses and even specialized degrees. These cover everything from how to take that business idea you scribbled on a napkin and turn it into a business plan to how to collaborate with investors and grow your business.
3. Deciding whether entrepreneurship is for you. A lot of people want to start a business, but entrepreneurship isn’t for everyone. Going to business school gives you time to find out what being an entrepreneur really means and whether you are cut out for it or whether you might be interested in taking a different direction. Ultimately, if you choose not to start a business right away, for whatever reason, you still have your business degree to open other doors. You can still tap into this network and resources further along in your career if you decide to reconsider becoming an entrepreneur.
4. A chance to refine your idea. During your degree you’ll have countless opportunities to refine your idea, test it out, get feedback, or even throw it away and come up with another idea. Use the degree and turn it into the program you want it to be to help you develop as an entrepreneur. Use class assignments to work on your idea and to meet with and listen to other entrepreneurs. Work with fellow entrepreneurs on developing their ideas, or get them involved in developing yours.
5. Additional support throughout and after your degree. Apart from entrepreneurship courses, most business schools now offer special support centers for students interested in becoming entrepreneurs. These centers have guest speakers, resources, access to mentors, and other services during your degree. Many of these centers continue to be an important resource even after you graduate, offering alumni office space, funding, and connections to faculty.
6. Finding co-founders. Building a successful business often involves finding a co-founder with a complementary set of skills. But co-founders can be tricky to find. Many entrepreneurs have met their co-founders in their business school classes. Not only are you surrounded by other individuals who want to become entrepreneurs, but your time at school gives you a chance to see how you work together before jumping into your new venture together. Business school also offers many opportunities for you to work together on projects before jumping into your venture together.
7. Network and gather support. One of the most important benefits of your business degree is the network you create from your fellow students and other alumni (and even alumni of other business schools). You can source this network for advice on everything from pricing to entering new markets to finding the right lawyer or design firm. They will also likely be the first ones to support and possibly buy your product or service.
8. Mentorship and guidance. Beyond being a good support network, being part of a business school community also gives you access to special networks of successful and experienced entrepreneurs to act as mentors. You also have access to faculty with expertise in a vast variety of topics that could really help you move forward with your idea.
9. Finding funding. In order to start and grow your new business, you will need funding, and business schools have several ways to access funding. Some schools have special funding for student and alumni entrepreneurs or angel networks. Many have special business case competitions where you can pitch your idea to investors. Often students find funding right from the school’s alumni network.
10. Experience. Ultimately, nothing can replace actual hands-on experience if you want to be an entrepreneur. Use your time at business school as an opportunity to meet other entrepreneurs, work with them, learn from them and help them develop their ideas and businesses as a way to learn more. Also take the opportunity to develop and practice your pitch, test out some of your ideas and get your fellow students involved.
Business school is the perfect place if you are interested in entrepreneurship, either now or later along in your career. It will give you the foundation you need, a wide range of skills and knowledge, and experiences you can use to start and/or grow your company.
The Magnificent Seven need no introduction. Harvard Business School, Stanford Graduate School of Business, the Wharton School at the University of Pennsylvania, the University of Chicago’s Booth School of Business, Columbia Business School, MIT’s Sloan School of Management, and Northwestern University’s Kellogg School of Management are the cream of the business school crop. M7 is the Holy Grail of the MBA Kingdom. Every year, thousands of applicants will apply to the M7 schools, and most will fail to crack the code, because these schools are the most selective in the B-school landscape. Two years at any of the M7 schools will set a student back about $200,000, but there are many scholarships from alumni and employers. M7 attracts the most talented students and faculty, and certainly the most corporate recruiters offering the most sought-after jobs. M7 also boasts highly achieving alumni and valuable networks in nearly every walk of life. But other business schools, such as Webster Athens, provide a similar education at a small fraction of the cost.
Webster University’s master of business administration program is designed for people on a fast track to success. It’s the perfect answer for professionals who want to shape their own destiny, upgrade their credentials, and be strategic players in the world of business. Trump’s rhetoric is channeling international MBA applicants to European branches of American colleges. Webster Athens has an excellent MBA program. Webster Athens is dedicated to fostering a campus culture that embraces and celebrates diversity and inclusion, and promotes international understanding and appreciation. Preparing students for effective, responsible and dynamic involvement in the modern societies in which they live and serve, and for excellence and leadership in their personal and professional lives. The campus is located in Athens, Greece – in the historic district of Plaka. Your Global Learning Experience begins in Webster Athens.
As the world is becoming multipolar and knowledge is set to disperse throughout the globe, embedding oneself in its changes and evolution remains essential. Academic rigor will stay competitive by integrating new teaching methods, program designs, research methods and learning processes. If a school can generate knowledge in multiple locations around the world and blend it to create new insights, it can be assured of fostering a globally-compatible and creative student body.
Whether your interest is management, marketing, or communication, you will be an active learner at Webster Athens. The classrooms give many hands-on experiences in various cases, and the location in the capital of Greece provides plenty of internship opportunities. With a low student-to-faculty ratio and average class size, Webster Athens makes business education personal. Faculty get to know students on a first-name basis and are readily available to help students when needed. Webster Athens is dedicated to excellence in business teaching, incorporating a global business perspective throughout the curriculum. Every step of the way, students receive the attention and support they need to thrive in business.
Webster Athens offers a fantastic MBA program in a flexible structure which promotes academic depth and encourages business graduate students to explore diverse business interests. At Webster Athens, students have opportunities to build skills and competencies through study trips, conferences, and internships. On the campus, students study in a culturally diverse environment that will create a life-long international network.
Vasilis Botopoulos, Chancellor of Webster Athens, points out: As we look to the future one thing is certain – knowledge will be a key resource and will be highly sought-after around the world. Our challenge is to help to generate ideas that will benefit society, and to educate and train people to work in fields where they will be valued both for their specialized knowledge, and for their ability to communicate and solve problems. To meet these challenges we need to build on the alliances and collaborative partnerships the University has established with business, government, and other institutions. It is equally important that we keep close to our wider communities of interest. This will help to ensure the on-going relevance of our academic programs and the continued excellence of our teaching and learning.
Botopoulos notes: The greater vision of Webster Athens is to build an excellent educational experience embodying mind, body and spirit through a variety of innovative undergraduate and graduate programs. We offer a solid intellectual foundation as well as an extraordinary opportunity for personal growth and thorough understanding of the subject matter. This is learning with ethos, authenticity, cultural understanding, ecological conscience, and service to others.
Botopoulos says: At Webster Athens we cultivate and build the leaders of tomorrow. It is our hope that our students and alumni, with ethos and philotimo, will inspire others to live their lives with dignity, integrity and compassion. I invite you to come visit our campus. If you seek learning in a way that is challenging, personal, and meaningful, we would love to have you as part of our community. For more information, please refer to www.webster.edu.gr