How A Part-Time MBA Can Help You Succeed As An SME Owner
Here’s how studying for a part-time MBA can provide you with the right balance of skill and opportunity to further your career and the growth of your business.
In the present day, people have busy and hectic lifestyles, with long working hours. This is especially the case if you are in the fast-paced world of business ownership. If you’re a business owner, taking a substantial amount of time away from work to study for an in-depth course such as an MBA can be challenging due to constraints on your time. A main benefit of studying for a part-time MBA from an institution offering such flexible programs such as Hult International Business School is that you have the flexibility of being able to work while completing your degree. This ensures that you do not have to take large amounts of time off of work, or put your career on hold while you take the opportunity to learn. Many institutions offer flexible evening sessions, online sessions and different date options to begin your course so that you can fit your learning around your lifestyle and business demands as an SME owner. This is especially useful if you have a demanding job as a business owner, or other commitments in your home life that take up your time.
Many students study for part-time MBA courses because they can implement what they have learned on their course with immediate effect in their current job, all the while learning valuable business skills that can help their careers move forward. Another additional bonus is that by not giving up full-time work, you can still earn an income while studying, helping you to afford to pay for your degree while studying for it. In some situations, your employer can even help you with your tuition.
You can become a better leader
When you own a business, one of the biggest challenges you will face is leadership of others and managing how your employees work together as a team. Studying for a part-time MBA will give you specialized management training, which you can then go on to quickly exercise in your own business. This in turn will help you to become a better leader as you learn to oversee your employees and inspire them in their work. Improving your management skills will help your business to thrive.
Improve your weaknesses
We all continue to learn, even as we get more experienced in business. As a business owner, taking risks, clutching at opportunities and inventing new ideas in the face of challenging times can bring about unfortunate circumstances and mistakes when things don’t go according to plan. Also, as we age, we tend to decide exactly what we are going to teach ourselves, and feel less inclined to throw ourselves into new challenges and experiences because of our insecurities and weaknesses. By throwing yourself into studying for a part-time MBA, you will be able to highlight your own weaknesses and skills that need more development.
Increase your network
Meeting new people and establishing more connections gives you greater opportunity in the business world in terms of partnerships, collaborations and brand growth. While you study for a part-time MBA, you are bound to meet people from all walks of life in business, including other students, entrepreneurs, professors, business leaders and so on. You will be able to work with and learn from like-minded people as you complete your degree, and will also improve your communication skills in the process as you network and collaborate with others. The contacts you make and interpersonal skills you acquire can then be utilized within your business plans.
A part-time MBA makes a CV very attractive to an employer, and helps a candidate who is looking for a new job to get new opportunities for employment that much faster (if a new position is desired). However, you will need to master juggling your study time along with running your business and applying for new jobs. A combination of your current position as an owner of a business, together with your part-time MBA, gives you an extra advantage over other candidates if you decide to take up another role elsewhere.