Question: “Ali, I am currently employed full time and a home party sales rep. I also recently applied to graduate school for my MBA. My goal is to start my own business. How do I choose one?”
— Kristin Hodnett, Stephenson, Va.
Ali’s Answer: “Oh Kristin. I’m going to be frank here! First of all, the fact you’re mentioning an MBA alarms me. Why do you want one? Is it because you want a worthwhile challenge that will keep you busy and feeling like you’re working toward a goal for two years? Or do you really think you need an MBA to do what you want to do?
It’s not a decision to take lightly: Average tuition for an MBA ranges from $20,000 to even $100,000 for top-ranked programs. And while an MBA teaches good business skills, it’s best required for a corporate career. You don’t learn how to be an entrepreneur via an MBA. Also, you’re putting off your dreams for another two years! I’d rather see you rock your home party business or start the business you really want NOW, and bank some cash on the side while you’re working full time.
Many successful CEOs and entrepreneurs you know well never attended business school—or even finished college, for that matter. I myself had no idea that I wanted to go into business after college. I’ve still to this day never taken an official “business course”. I have many women who have achieved MBAs later join my coaching programs, and many of them will share with you that while getting their MBA was a great experience to have, and it does sound impressive, it did not prepare them to become a successful entrepreneur.
I bet you’re considering an MBA because you think it’s the right direction, but you’re choosing it only because you don’t have another idea. Your BEST education is the “school of hard knocks” combined with learning from someone who has done what you’d like to do!”
Love and success,
PS — If you’re considering different types of online training, take a look at my Elevate program here. It’s my virtual online training program delivering a complete, step-by-step system to help you promote and grow your business—in as little as 30 minutes a day.
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