Starting a business requires more than passion, capital, and sound planning. It requires adequate business knowledge and the ability to execute ideas and vision into a sustainable business model. Acquiring an MBA is one way of doing so. It teaches you crucial management and leadership skills in every aspect of the business. 

Whether you are planning to start a business or have already run a successful social enterprise, there is always room for improvement. Opting for an MBA to polish your skills and learn new ones will help you get ahead of the curve. Keeping up with the rapid technological advancements and new learning methods will give you an edge in the business world. It will set you apart from experienced business owners who use older methods. Even though their methods could be equally sustainable, bringing innovation and introducing modern advancements in your field of business calls for higher qualifications and skill upgradation. 

Did you know that 18% of small startups fail within the first year of their operation in the US? Meanwhile, 50% fail after five years and 65% during their tenth year of operation. Luckily, South Carolina has some of the best business schools offering updated and revised business programs suitable for budding entrepreneurs. Let us see what other advantages you can get from an MBA as an entrepreneur.

1. Learn How to Scale Your Business

Starting and expanding a new small business takes work, especially due to limited resources. One of the reasons why businesses fail during the first year of startup. It is a crucial stage as it can determine the success rate of your business. The University of South Carolina online MBA will help equip you with the sound business strategies you should know in the early stages. 

During your program, you will learn how to manage a company’s finances, how to get your first clients, effective networking strategies, and operations management. Most importantly, you will learn how to coordinate the activities of all departments toward a shared goal. 

The main job of an entrepreneur or a business leader is to impart vision and long-term goals for the startup. Without it, your efforts may go down the drain, and your business may fail. Therefore, it is important to maintain sight of the scalability potential of your startup. 

2. Create a Business Plan

To have a great business idea is one thing, but penning it down on paper is another. Establishing a business plan involves many aspects and is a requirement for many reasons. If you plan to present your business idea to investors, show them a solid business plan with the amount of financing required and how you will allocate the capital. Another important aspect of a business plan is to see when you can break even and start making a profit. Investors need to be able to see the business potential as reflected in the business plan.

An MBA will give you a thorough knowledge of everything you need, from product design and development to the market stage. You could be a great innovator, but only a professional business qualification could make you a successful business leader, and that starts with the planning stage.

3. Learn about Business Functions

Becoming an entrepreneur requires taking care of the entire business operation, not just parts of it. You could be an accountant or a sales professional before you start a business. However, you must also learn about business laws, ethics, and taxation policies. You will also learn and understand the different financing options for the business. 

Although you do not need to be an accountant to run the finances, you may need to hire a professional accountant as your business scales. Consequently, hiring and firing decisions will also be your responsibility, just like every other decision. Similarly, retaining talent, designing employee-training programs, and motivating them will also fall under your domain as an entrepreneur. Managing teams, supervising them, and delegating tasks are some of the most business functions for the smooth running of a startup. 

Similarly, by doing an MBA, you will learn how to build your brand, market, and sell your products and services. You must learn about all the business functions to streamline your startup’s vision across the entire organization.

4. Learn Soft Skills

Apart from the technical business knowledge, an MBA helps impart soft skills such as communication, presentation, emotional intelligence, social skills, time management, self-discipline, problem-solving, and decision-making skills. 

You will have your bad days and good days. However, it is important not to be irrational or make emotional decisions regarding your business startup. An MBA helps you hone your personality and entrepreneurial skills and teaches you to stay self-motivated when things get rough.

The most important thing an MBA does is boost your self-confidence in your skills and abilities as an entrepreneur. You build confidence as you progress through your program and apply your learning in the business world. It helps you seek self-validation throughout your business journey and empower you toward your business destination.

Confidence is what creates a hindrance for most aspiring entrepreneurs. All they need is a little push that comes from acquiring an MBA.

5. Build Your Support Network

If you plan to become an entrepreneur, your professional networks will be an asset. The connections you make during your program will prove worthy when looking for business partnerships, collaborators, suppliers, and distributors. If you nurture your networks, you will likely find the resources you need within the network. 

Moreover, when hiring trustworthy personnel, business leaders usually turn toward people they know. They can, in turn, refer qualified individuals fit for the role. This way, you will know the credentials of everyone you work with. 

The professors teaching you MBA courses and the Alumni community could be your best mentors and support structure. Mentors can help steer you in the right direction, keep you motivated, and help uplift your entrepreneurial spirit throughout your journey.


Pursuing an MBA as an entrepreneur can teach you all you need to know about becoming a successful business leader. Pursuing an online MBA from USC could help you set the foundation for your startup. It will teach you how to scale your business, create a lucrative business plan and learn about all the different business functions.

In addition, it will teach you some essential soft skills a successful entrepreneur requires and help build your support network.

By varsha