Seven Reasons Entrepreneurs Should Get An MBA

According an American Express report, there were more than 8.1 million businesses run by women in the United States as of 2011. Furthermore, from the period of 1997 to 2011, women-owned businesses increased by an incredible 50 percent, many of them by mothers. If you’re a mom and you’re thinking about starting your own business, here are seven reasons to get your MBA.

1. Learn Important Business Skills

Image via Flickr by Alan Cleaver

MBA programs teach you about all aspects of running a business. You’ll learn about everything from finance to how to manage a team. All entrepreneurs can benefit from these skills, especially those who don’t have business backgrounds to begin with and moms who have been out of the workforce for a number of years.

2. Huge Support Network of Business Contacts

Many business schools are adopting programs that specifically address the needs of entrepreneurs and provide support for them. Aside from these programs, you’ll also form lasting connections with brilliant people to whom you can turn for advice and support. These are invaluable benefits, especially for women with families to support in such tumultuous economic times.

3. Business-Building Sandbox

So, you have a brilliant idea for a business. That’s terrific. However, consider this: 75 percent of all new businesses fail. Starting a business is risky, there’s no doubt about that, but what if you could try out your idea in a safe environment? While you’re getting your mba online, you’ll get the opportunity to do just that. That way, if your idea is a bust, you haven’t lost anything…except maybe a grade or two.

4. Mentorship

Beyond the networking already mentioned, there’s another kind of support that MBA programs offer: mentorship. Having a great mentor to guide you through the process of starting up your business will give you a big advantage over other entrepreneurs without that support. While many moms have launched successful businesses without mentorship, it’s still good to have. Here’s another great resource for women entrepreneurs.

5. Fall-Back Position

Another plus to getting your MBA as an entrepreneur is that you’ll have a solid business background to fall back on in case your startup does fail in the real world. If you need to find employment, it will open doors for lucrative jobs that otherwise would be closed to you. Another upside to this is that knowing you have a safety net will let you take the risks that every mompreneur must to be successful. Here’s some more information about successful women startups.

6. Major Source of Investors

Finding funding to start-up a business is difficult, but in business school, there are plenty of angel investors and venture capitalists looking for new startups to fund. The investors you find during your time there can become lifelong friends and partners in expanding your business as well.

7. Talent-Source-in-a-Box

At business school, you’ll be in the company of other incredibly smart and driven individuals. From this talented group of people you can find co-founders and employees to help you grow your business. When your only other day-to-day contacts are still in diapers, you need people around you that speak on your level.

As the number of women-owned businesses continues to rise, it is an exciting time for women entrepreneurs. If you want to become a mompreneur, getting an MBA is a good investment in your future.