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Online MBA Courses: Do you require it to start your own business?

27-Jun-2017 12:54:30 / by Nabeela D'Sa

Nabeela D'Sa

Here's a story for you about online MBA courses.

Jack works in a multinational company and gets tired easily doing his mundane merchandising/purchasing officer job, which he does not like. This obviously affects his productivity and his enthusiasm at work leading to career suicide. Jack discusses this with his family and friends and they all know he is good with numbers and has loads of contacts in the market. He could effectively start his own company - not in direct competition with his company as that would be unethical - in a complementary product line to his current company's product lines. So Jack decides to leave his company and start a new business of his own called JACK-O-MANICS. Right now you may think this is a brilliant idea and Jack is now his own boss and has complete autonomy over his future. But did anybody stop to check whether Jack is disciplined enough to foster a business from scratch and nurture it to a full blown entity?

Running your own business requires you to make a lot of decisions on a myriad of topics including finance, legal proceedings, marketing, promotions, banking, and so on, for which you would require to have the proper skills to overcome any hurdles.

How are these skills developed?

These skills can be developed if you have proper guidance. It does not mean that you need to engage with several self-professed business gurus. All you need to have is adequate business knowledge which comprises of several fields of study including accounting, marketing, business management, finance, HR and other related fields. If you lack in any of these particular fields, you would need to invest in yourself first and then invest in a business of your own!

Learn about yourself

Take some time to investigate with family and friends about your strengths and short-comings. Avoid making any bad or rushed decisions and start planning prior to investing. In our example above, Jack lacks the discipline to stay focussed throughout the day on ensuring the success of his current job role, how then would he succeed in fostering a business?

Online MBA courses will force Jack to respect deadlines, follow guidelines and seek available resources to ensure his success on the program. These are transferable skills that he will aquire and would then help achieve success in his own business. Online courses require a lot of disciple from the students as it is easy to get derailed and loose the traction required for successful completion of the MBA program.

On another spectrum, Jack has detailed knowledge of purchasing and merchandising, but how affluent is he with HR, Finance, Accounting, Marketing? We already know that a lack of relevant and business management oriented knowledge will lead to difficulties/hurdles, so avoid these by enrolling yourself onto online MBA courses and you would gain complete knowledge of relevant subject matter allowing you to experience success in your venture.

An interesting topic that Jack would learn on an MBA is "Mind-Mapping". This is a techniques used for effective decision making and this allows Jack to view the entire range of influencers to the decision on a single platform, ensuring that an informed and insightful decision has been made.

Finding a suitable and accredited Business School

Decision time - I would recommend Jack check for online MBA courses while retaining his employment with his company. For all we know, he may experience career growth within his own company when his line manager notices improvement in his productivity as a result of pursing an MBA, and may decide to continue his employment and delay the business venture to after completing the MBA. Furthermore, this plan allows Jack to gain the relevant business related know-how required and then venture out into the land of the entrepreneur!

There are several business schools that provide online MBA courses at your convenience. However, this is one for the mind-map! Take some time and review all the advantages and disadvantages of the various business schools (including price factors and admission criteria)


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Topics: MBA

Nabeela D'Sa

Written by Nabeela D'Sa

 

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