What You Should Know About This Degree
An MBA in entrepreneurship is an attractive option for students who are interested in running their own business. While this degree will prepare you with theoretical knowledge and practical skills necessary to meet the challenges of starting and running a company, students should keep in mind the inherent risks of being a business owner.
Before pursuing this career path, consider whether you have the right natural aptitudes for starting a business, including a tolerance for risk, a strong work ethic, and the ability to make tough decisions.
MBA programs are typically geared towards students who have an undergraduate degree in business, or extensive professional experience. In instances where students do not meet all of the prerequisite requirements, you may have to complete foundational courses before matriculating into the degree program. In this case, another option is to pursue a Master of Science degree, which may have less stringent admission requirements, and include foundational coursework in the degree plan.
An online MBA program will cover the theoretical concepts of entrepreneurship, but hands-on experience is also valued in this field. If you seek out a program that has experiential learning components, such as internships or business labs, be sure you know what they are prior to enrolling, so you can accommodate them in your schedule and budget.
Here are some questions to ask when researching Online MBA in Entrepreneurship programs:
- Do I have to take standardized tests for admission? MBA programs commonly require students to submit GMAT or GRE scores as part of their admissions applications. Taking these tests is an investment of time and money, so it’s important to factor this into your application preparations if you haven’t taken the tests, or don’t have recent scores. You may also choose to seek out programs that don’t have these requirements.
- Does this program have any in-person components? Depending on the program, students may have the option to participate in on-campus or off-site residencies, seminars, or other hands-on learning experiences. These components may be beneficial for networking and gaining practical experience, but require planning and budgeting for attendance.
Now is also the time to gather your application materials, speak to an admissions representative if you have any questions about the program or admissions process, and consider how you will fund your MBA degree. If you are currently employed, find out if your employer offers tuition assistance benefits. Other options include student loans, scholarships, and assistantships.