B-School Is a Launchpad for Entrepreneurs

Nov 21, 2013
Tags: Business School, Career, Entrepreneurs, MBA, Official GMAT

Are you considering the exciting prospect of being your own boss? If so, you’re not alone—23 percent of prospective business school students worldwide are considering careers as business owners[1]—and a growing number of business schools are offering new programs and resources that can assist you in turning your dreams into reality.

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The value of attending business school to gain the tools and business acumen you’ll need to successfully build a business cannot be overstated. More than 4 in 5 entrepreneurs in the class of 2013 confirmed their graduate management education helped them develop their business idea (81%).[2] In addition, their education nurtured their abilities to lead a company (88%), grow a business (84%), and develop financial projections (81%).

Along with these practical benefits, a graduate management education can help you foster the managerial mindset needed not only to develop and launch an innovative venture but to lead it through growth and success. As one class of 2013 graduate expressed:

“My experience has been quite phenomenal. My thought process regarding running a business has changed dramatically from local to global and I have a better understanding of the big picture… This has taken my leadership skill to the next level.”

Business School has prepared Entrepreneurs

Make a Difference

Sixty-five percent of the entrepreneurs in the class of 2013 launched new business ventures with a desire to contribute to the community or solve a social problem. In addition, as employers, they create jobs and expect to hire a median of two additional employees in the coming year. As one 2013 graduate explained, a graduate management education can enhance your ability to make a difference:

“The program is an excellent tool that will help me to have a positive change on society through my social enterprise. The hands-on approach, group and class discussions, cross-cultural study has been so empowering in terms of creation of networks, transformation of my world view, participatory approach to social change and enhanced business and management skills.”

Advantages of a Business Degree

The vast majority of class of 2013 alumni entrepreneurs (87%) agrees that their education provided them with the essential knowledge, skills, and abilities to develop their business.[3] Not surprisingly, alumni also appraise their management education as an outstanding to good value (93%) and 95 percent would recommend a graduate management education to others. In addition, nearly all alumni entrepreneurs agree that their graduate management education was rewarding personally and professionally. And 57 percent confirm their education was financially rewarding, which is on par with alumni who were working for an employer (63%).[4]

One entrepreneur described the business school advantage this way, saying:

“My MBA was the best investment I ever made. I am now able to speak the language of the upper management, understand and advise on the strategies and…risk management.”

Make Business School Your Business Partner

Explore this infographic to see how business programs worldwide are helping students develop the skills to unlock their potential as future entrepreneurs. In addition, discover the options available to you as business schools expand course offerings, concentrations, and MBA and master’s degree programs in entrepreneurship:

  • Check out our web page of degree programs in entrepreneurship, which now includes a list of more than 50 GMAT-accepting schools and programs that offer MBA and master’s degrees in entrepreneurship and related majors.
  • And, a visit to our mba.com school search service will lead you to a list of 470 programs that offer entrepreneurship as an area of elective study or concentration.

Start your journey of innovation today! Join innovators worldwide as they celebrate Global Entrepreneurship Week, Nov 18-24, 2013.

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[1] GMAC (September 2013) Alumni Poll, class of 2013.

[2] GMAC (2013) Alumni Perspectives Survey, data collected in 2012

[3] GMAC (2013) mba.com Prospective Students Survey, data collected in 2011-2012.

[4] GMAC (2013) Global Management Education Graduate Survey.

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