One of the big decisions entrepreneurs face is whether they need to go for a Master’s in Business Administration. So is it necessary? It depends, says Seth Kaufman, psy.d, Certified Career and Life Purpose Coach with the Institute for Coaching.
“Sometimes you do, sometimes you don’t,” says the coach. He says the additional education may matter, or it may not. It really depends what you’re looking to do, as well as what skills you already bring to the table, he explains.
If you’re a “natural entrepreneur,” says Dr. Kaufman, you may not need to spend the time and money on the additional education. But the MBA could also be a big help if there are skills you need to learn via graduate school.
Besides doing research into the cost-benefit analysis of an MBA, and looking into exactly what the coursework would add to your skill set, you could also talk to others, such as a career coach, as to whether the additional education would be a good idea for you.
Dr. Kaufman says that if you ask others for advice, you have got to “be clear,” and to “look at yourself” and figure out whether getting the MBA speaks to you. The best approach is to speak with others as research, he says, as opposed to having them tell you what to do regarding graduate school. And remember that anybody giving advice is not in your shoes.
At any rate, when it comes to make a decision, Dr. Kaufman has a simple reminder. “You have to make the best decision for you,” he says.
The Institute for Coaching offers life, career, executive and entrepreneur coaching services.