Is Now the Right Time in Your Career for an MBA?

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Dan Bauer September 8, 2014

The decision to attend or not attend business school should not be taken lightly. Here's how to know if now's the time to take the leap and enroll into B-School.

In this course, participants learn core principles, concepts, and methods of continuous improvement and explore the history of continuous improvement efforts. In a series of lectures, Master Black Belt in Six Sigma Shane Wentz, Ph.D., enables learners to enhance, optimize, and stabilize business processes and to augment quality control through varied methodologies. Participants gain the skills and knowledge to reimagine internal processes, engage in advanced problem-solving, and empower employees. The course covers high-level foundational principles of Lean, Six Sigma, and DMAIC processes before diving deep into Lean Six Sigma methods. Learners will analyze the tools of process mapping, Kaizen (a continuous improvement method/tool deemed a prerequisite for Lean transformation success), Lean (a continuous improvement philosophy that emphasizes streamlined workflows and reducing waste), and the process improvement methodology driving DMAIC: Define, Measure, Analyze, Improve, and Control.

Entrepreneurs fostering new ventures outside of well-developed entrepreneurial ecosystems like Silicon Valley face significant challenges. These markets are unlike Silicon Valley, and they will likely remain so. That doesn't mean they can't nurture and sustain new businesses. In transitioning markets that lack abundant private sector financing, creative approaches from government officials, donors, and business leaders can fill the void to support entrepreneurial activity. Northeast Ohio (where Cleveland and Case Western Reserve University are located) has become a laboratory for such innovative solutions. During our time together in this course, we will explore some of these creative approaches to promoting regional entrepreneurship. Northeast Ohio has seen a massive infusion of government and donor resources for over ten years. In that time, Northeast Ohio has promoted regional development (including job creation and follow-on funding) through alternative methods of financing startups. It has not been easy. The region has made progress, but it remains to be seen whether it has struck upon an enduring formula. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government policymakers and donors typically seek quicker returns on their support programs, which makes long-term support for entrepreneurship challenging. This course includes case studies and first-person testimonials from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs discovered and procured resources from various programs and intermediary organizations. You will hear from business people still in the process of developing their companies as well as those whose ventures have flourished. Our focus will extend beyond Cleveland to selected markets around the world, including Greece, Vietnam, Tunisia, Argentina, Rwanda and China. You will learn about international incentives and other supports available to developing startups and small businesses across the globe. This course examines how different communities around the world approach implementing strategies and methods to support businesses. I will ask you to reflect on how to apply the principles we learn to growing entrepreneurship where you live. The social interactive features of the online platform will enable students from around the world to share ideas and learn from one another. Most MOOCs rebroadcast professors’ lectures; this course is different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length. They have more of the feel of an engaging documentary than a static classroom setting. ## __What type of person takes the *Beyond Silicon Valley* course?__ - Active and aspiring businesspeople in communities looking to initiate new startup ecosystems or bolster existing ones - Current and prospective entrepreneurs who want to learn about funding sources, risk management, and the lifecycle of startups - Professionals who work in government agencies, nongovernmental organizations, philanthropic institutions, and various private funds that fund startups - Anyone curious about how to create and grow startup ecosystems outside the major tech hubs - The principles Beyond Silicon Valley teaches have been drawn from and applied to startups worldwide, from small villages to megalopolises. You'll study success stories spanning the globe from Vietnam to Kosovo to Botswana. ## __What will you learn in *Beyond Silicon Valley*?__ - How and where startups can find funding to get their businesses off the ground - What role government can play in encouraging startups and a healthy startup ecosystem - How anchor institutions such as universities and healthcare systems participate in startup ecosystems - How nongovernmental organizations support startups - How to raise funds from venture capitalists, angel investors, and accelerators - How to navigate challenging periods in the startup lifecycle - The importance of mentoring in successful startups

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Perhaps you're a senior in college, determined to pursue a business career but unsure of what industry or function is right for you. Or maybe you're five years into your career, making decent money but feeling that your passion and potential are not being recognized. Or, you could be a senior manager at the mid-point of your professional life, wondering what it takes to rise above your peers to get a C-level position, or maybe launch your own enterprise.

Whatever your current status, now might be the ideal time to pursue an MBA education. But how can you really be sure? The investment of time and dollars is substantial, and you don't want to start something this big that you can't finish. Here are three key questions to ask, and answers that will help you decide:

1. Have others in my situation achieved great success by pursuing an MBA?

Individuals at every stage of life have benefitted from attending business school, whether through higher compensation, bigger jobs, rapid advancement, or deeper satisfaction. Do some LinkedIn searches on companies where you'd like to work, and check out the profiles of senior executives with roles you'd love to have. There will be no shortage of MBA degrees in those profiles.

2. What changes will I have to make in order to get an MBA education?

Your financial capacity, family responsibilities, and geographic limitations can majorly influence whether it's the right time for business school. It's essential to predict how your current circumstances will be impacted if you decide to pursue an MBA sooner rather than later. Economics and emotions cannot and should not be ignored. Write down a list of pros and cons — this can be an organized way to work through this decision.

3. What will my life be like in five/15/40 years if I don't go for an MBA?

Dust off the crystal ball and think about the future. When you envision the kind of life — professional and personal — that you want to have, how much of that is attainable without having a business degree? And how long will it take you to reach the critical milestones along the way? Will the knowledge, perspective, network, and prestige of an MBA help ensure and accelerate your version of success?

There's one final question: "Even if I want to pursue an MBA now, will I be admitted to a business school that justifies my investment, hopes, and sacrifices?" This is very difficult to answer without the experience, objectivity and expertise of an admissions advisor. You should start with a free evaluation of your MBA candidacy and admissions potential. Then, if you do have a realistic shot, you can tackle the other three questions and make a confident, actionable decision.