Whether you’re currently running a business or dreaming of bringing your ideas to life, a two-year MBA isn’t always necessary for entrepreneurs, especially those working in non-traditional industries.
In fact, many mini-MBA programs provide the basic business skills of professionals they need to improve their business skills, without specialties or concentrations of a longer program. Instead, mini-MBAs focus on transferable skills and concepts applicable to all business professionals.
Three ways a mini-MBA can help accelerate your business as an entrepreneur:
Mini-MBA like Invited MBA highlight case studies and provide real-life simulations for real-world practice.
While discussing business topics, attending lectures, and debating current events can be helpful, entrepreneurs will benefit more from a business curriculum focused on doing.
This form of experiential learning puts participants in the shoes of executives and people managers — something that is difficult to create in theory alone and something that is directly applicable to entrepreneurial experience. Instead of asking, “How would do you operate here?”, in a real-world simulation, participants are asked to make quick decisions and learn from the consequences in a safe space. This prevents real-life mistakes that could dramatically hinder a new business venture.
Mackenzie Chilton, Owner Love your Mondays, completed the Invited MBA in 2021. She said, “My mini-MBA had real-world examples and exercises to help cement business concepts into practice and my memory. He had a practical application of changes I can make right now to become a better leader and business person. I didn’t have to go back to school for two years and spend hundreds of thousands of dollars to get the skills I needed to advance my career.”
The Mini-MBA prioritizes training, which never gets old.
Improvement is the process of learning new and advanced competencies to close a skill gap or expand an existing one. Many emerging leaders and entrepreneurs seek training opportunities to improve their communication, people management, problem solving, emotional intelligence and teamwork skills. Education options that focus on improving skills are important for new or successful business owners because startups and smaller organizations often work with a lean team, and founders must they play many roles in the early stages of a company.
“The hands-on learning in my mini-MBA directly reflected the day-to-day challenges of owning a business. Since the Invited MBA, I have been able to lock in three new long-term clients and I can undoubtedly attribute that to my experience and the skills I learned in the program,” Chilton said after graduating from the Invited MBA.
You don’t need a degree to become an entrepreneur. However, to stay at the top of their game, successful entrepreneurs often look for opportunities to improve provide the expertise and confidence needed to overcome the necessary risks to start a business.
“My mini-MBA helped me feel more comfortable in proactively creating financial projections for my company and anticipating what might be in terms of revenue. The experience gave me a better understanding of the business as a whole and a greater sense of comfort in taking initiative in my organization,” invited MBA alum and owner CarAdvisor Andrew Overby said.
Mini-MBAs provide networking opportunities with other rising leaders and business professionals, which can be a huge asset for entrepreneurs.
One of the biggest challenges new entrepreneurs face is establishing the legitimacy of their ventures, companies or ideas. According to Invespo, “Word of mouth marketing impressions result in 5x more sales than paid media impressions.” Networking opportunities like a mini-MBA or other business program add to the reputation and word-of-mouth marketing of your new ventures.
Another benefit of participating in a program with other influential business professionals is the impact of cohort-based learning.
Online courses you take in your spare time have their place in learning business skills, but live synchronous chat is more effective in retention and can help entrepreneurs solve challenges they face in their organizations. A good mini-MBA provides ample time to talk and work with classmates, learn from mentors who have founded successful businesses, and ask questions of colleagues. Having other like-minded people to bounce ideas off of, solve problems with, and learn from can have a huge impact on your success as an entrepreneur.
Regardless of where you are on your entrepreneurial journey, a mini-MBA can benefit you now and in the future, from hands-on experiences, providing invaluable networking and training opportunities. To learn more about how you can accelerate your business with the Invited MBA, click here.
Katelyn Powell is a social media and content strategist, lifelong learner, and career development enthusiast based in Houston, Texas. She is passionate about equal access to education and the Oxford Comma. When she’s not writing or reading true crime, she enjoys taking afternoon naps and photographing weddings for Texas brides.