Skip to main content

We are temporarily waiving the GMAT/GRE requirements for all applicants. Apply now!

Share on facebook
Share on twitter
Share on email
Share on pinterest
Share on google
Share on linkedin

Gain Entrepreneurial Leadership Skills With An MBA

Share on facebook
Share on twitter
Share on email
Share on pinterest
Share on google
Share on linkedin

“The four fundamental factors of production are land, labor, capital and entrepreneurship,” writes David Ingram, a contributor at Chron.com. “The final factor [entrepreneurship] highlights the importance of leadership in business settings.” A business with poor leadership is doomed from the start, regardless of the talent of the staff or the quality of the product or service being sold.

Leadership is a set of skills rather than a skill in and of itself. “An MBA … teaches you every aspect of how a business works,” writes Christian Robinson for BusinessBecause.com. “Being a polymath, therefore, is a prerequisite both to succeeding as an entrepreneur and to succeeding as an MBA.” The knowledge and skills gained through an MBA are undoubtedly useful to entrepreneurs confronted with the responsibilities and hardships of being a leader.

The Functions of Leadership

Good leadership means being malleable and patient, and having a clear and actionable plan for the future. As pointed out by Ingram, it also means inspiring “employees to get excited about the company and their work, pushing them to excel and helping them along the way.” Leaders are also responsible for delegating efficiently, facilitating collaboration and effectively protecting their employees, including “everything from political backstabbing to physical security.”

When starting your own company, effective leadership is a requirement right out of the gate. You must have a marketable idea for a product or service, formulate a convincing business plan, stay on top of your accounting, and acquire startup capital and talent to get the ball rolling. As Mandy Fricke, writer for Under30CEO.com, notes, “An MBA provides familiarity with all the components that form a business, including accounting, finance, sales, marketing, and day-to-day administration.”

What better way to sharpen one’s leadership skills than through an MBA program?

Confidence Through Experience

The kind of environment where a student has access to experts and is free to try new ideas is where leadership skills can be honed to a fine point. “Making mistakes during an MBA program has a much lower opportunity cost than making startup mistakes in the real world,” writes Stella Garber for Forbes. “As students, there is much more wiggle room to recover quickly than when you have constraints from the real world.”

It is one thing to have an idea for a business and taking the leap. It is another thing to have an idea for a business and having the accounting, marketing and analytical know-how gained through an MBA to give it a proper launchpad. Those skills are what separate poor leadership from great leadership.

A Structure for Leadership

Starting a new business without the requisite skills is like flying a kite without a string. You might be able to have a successful launch, but you won’t be able to control it once it takes flight. The structure provided in an MBA program allows one to grow and develop leadership skills by having access to a network of experts that would otherwise be inaccessible.

“Everyone can agree that the structured mentorship and access to resources that programs provide is a great boon,” writes Garber. An MBA program will condition and strengthen your leadership skills as you enter the world of entrepreneurship.

Learn more about the University of West Florida’s online MBA with an emphasis in Entrepreneurship program.


Sources:

Houston Chronicle: The Importance of Leadership in Business

Under 30 CEO: How an MBA in Entrepreneurship Will Benefit You and Your Business

Forbes: Should Entrepreneurs Get an MBA? An Inside Perspective From an MBA Entrepreneur

Business Because: Why You Might Just Need an MBA to Become a Successful Entrepreneur

Related Articles

Have a question or concern about this article? Please contact us.

Our Commitment to Content Publishing Accuracy


Articles that appear on this website are for information purposes only. The nature of the information in all of the articles is intended to provide accurate and authoritative information in regard to the subject matter covered.

The information contained within this site has been sourced and presented with reasonable care. If there are errors, please contact us by completing the form below.

Timeliness: Note that most articles published on this website remain on the website indefinitely. Only those articles that have been published within the most recent months may be considered timely. We do not remove articles regardless of the date of publication, as many, but not all, of our earlier articles may still have important relevance to some of our visitors. Use appropriate caution in acting on the information of any article.

Report inaccurate article content:

Need More Information?

Submit this form, and an Enrollment Specialist will contact you to answer your questions.

Or call 877-588-2502

Ready to Go?

Start your application today!

Or call 877-588-2502 877-588-2502

for help with any questions you have.