They can be combined for greater business success, and the video shows some facts about entrepreneurs around the world.
Did you know that there are over 400 million entrepreneurs in the world? 40% of them are aged over 25 years and 6 out of 10 entrepreneurs are women. In the 80s it was common to have more than 10 years of experience working for an employer before having your own business. Nowadays, just three years could be enough with the proper education. 15% of the top entrepreneurs have an MBA degree in one of the top specialised MBA fields – Management, Entrepreneurship or Marketing. And 45% of all the MBA graduates in Entrepreneurship start up right after obtaining their degree. It is reported that 41% of all MBA entrepreneurs have an annual revenue of over 250,000 dollars. The industries that are mostly occupied by MBA startups are Products and Services (37%), Consulting (20%), Technology (17%), Finance (7%), and Manufacturing (6%).
And on top of that, 40% of the MBA graduates in Entrepreneurship had already started their own company before even enrolling in their programme. There are many ways that an MBA programme can help you start up your own business. It can give you knowledge and experience, worldwide access to a lot of talented peers and an alumni network, a good environment to experiment with ideas, access to venture capital and seed funding, and a lot of potential partners/investors to work with in the future.
There are also many other reasons to get an MBA in Entrepreneurship:
- Lead your own company
- Grow your business
- Develop your ideas
- Conduct market research
- Contact potential customers and partners
And if you are not yet convinced, just bear in mind that some of the most successful entrepreneurs with an MBA degree are: Larry Page (CEO of Google), Philip Condit (CEO of Boeing), Phil Knight (CEO of Nike), Paul Otellini (CEO of Intel) and Jon Corzine (CEO of Goldman Sachs).
Check out: A Quick Guide to Specialized MBA Programs