It should be known well that one mistake in entrepreneurship could crash a whole investment program. It, therefore, requires knowledge, mentorship, and modeling as well as experience. Possessing all of them will be an added advantage!
Each of the above factors commanding the successfulness of entrepreneurship is scarce and expensive. Talking of knowledge required, it’s expensive and the learning process isn’t as easy as one may think. Experience and mentorship aren’t readily available either. You may look up to renowned and successful entrepreneurs like Mike Zuckerberg, Bill Gates or even Steve Jobs. On the other hand, entrepreneurship experience comes with time. It depends on how much time you dedicate to this practice. At times, your successes will be measured according to your successes and failures in the practice of entrepreneurship.
The Contentious Debate
A better part of the world’s population can’t spell the difference between entrepreneurs and Masters of Business Administrators. It’s a fact that they are the epicenter of business focus because of the great interplay existing between them. However, logic has it that one can be a successful entrepreneur without attaining a Masters’ in Business Administration. On the other hand, an individual holding a Masters’ in Business Administration can as well be a successful entrepreneur. Even though the two can succeed, the length of success may differ, and this will depend on the knowledgeability of the individual. This condition applies when the tow individuals operate on an equally similar business platform or the environment. So, who carries the day between entrepreneurs and holders of Masters’ in Business Administration?
Who’s on the Upper Side?
It’s a natural phenomenon that entrepreneurs hire and consult holders of Masters’ in Business Administration. An evidence of this is available at the weaccountax global accountancy services in Manchester. Most of these entrepreneurs are green about the professional running and operation of business enterprises. Therefore, one can argue it out that some of their business successes are as a result of the technocrats, who happen to be professionals such as MBA holders. This phenomenon counts because of the job description and roles played by these professionals in a business set-up. An excellent example of the relevance of this point is auditing of accounts, bookkeeping and record keeping.
There’s a default fact that non-professionals can’t perform such tasks, and without proper care of accounts, there will be pilferages that the investor will only notice when everything has fallen out of place. This could be one of the factors that will sink the business, and this is when and where technocrats such as weaccountax global accountancy services in Manchester come in to save the day. This implies that the best an entrepreneur can do is invest and manage their investments. They are, thus, contraindicated when it comes to strategic planning, management of records and accounting issues, legal matters surrounding the business, as well as strategic investments. This implies that some entrepreneurs can be dysfunctional without services rendered by business professionals. Most of the times, they are fond of hiring MBA holders being that these individuals have a wide range of business insight.
It’s arguable that holders of MBA can make better entrepreneurs today and tomorrow. They owe this credit to the wide range of knowledge that they possess. It’s a fact that however much they are paid by investors and entrepreneurs, they may not perform optimally in businesses that are not of their own. There are a number of factors backing this, and one of them is that most entrepreneurs may not always buy all the business ideas they sell to them. This always turns out as a discouragement to them, and they develop cold feet in working tooth and nail to for the business to succeed. At the end of the day, they lose morale and stick to the orders from the entrepreneurs.
When left on their own in their own world, business professionals can work miracles. With the knowledge they possess, they can effectively run a small business and create a mega empire out of it. This feature clings to the fact that they will operate their businesses with an independent mind because there will be no one to consult before making a decision. At the same time, there will be a restriction on whatever they want to do. As professionals, they will strive to drive and man all the business operations professionally to the end. Even though errors that hamper the business success are inevitable, the transitions and management of such misfortunes will go down in a way that their effects will be at the very least.
In addition to this, their position in a business means more good than harm to the business. Owing to their knowledge, they’re likely to break even through strategic planning, management, and investment. The three factors are crucial in building up a business, and may not be seen in entrepreneurs’ businesses. This spells the difference between holders of MBA and those who don’t have it.
MBA, thus, becomes an instrumental tool in success in entrepreneurship, and it is, therefore, arguably that getting an MBA makes one a better entrepreneur. Even though the difference may not be visible to everyone, there are key aspects of the business that holders of MBA will enjoy but not entrepreneurs without that education.
