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How Completing an MBA Can Benefit Your Career in Business

Career

When it comes to climbing the career ladder, many workers from all different fields are looking at ways to boost their resumes and give them a shot of securing their dream job. If you're looking for a role in the business world, an MBA (Masters in Business Administration) gives you the right tools, skills, and experience to succeed. Here are a few benefits that you can receive from completing an MBA.


Increased Self-Confidence

Throughout your MBA program, you will learn a wide range of skills that can give you a feeling of accomplishment, helping you to feel more confident. In the business world, it's important that you can stand on your own two feet, so boosting your self-esteem can help when it comes to setting up your own business or finding a role within a company. Once you've completed your degree, you will receive a great sense of pride and personal achievement.

Credibility

Once you've completed your MBA degree, you will want to be taken seriously by those in the business world. With many candidates in the same boat as you, finding your dream role can be a challenge, however, having an MBA behind you can make all the difference, showing employers that you're willing to put the hard work in. Earning credibility and establishing yourself as a budding entrepreneur can help you on your way to success in the business industry.

Transferable Skills

During your MBA, you will learn various soft skills which you can use to your advantage in the working world. Many employers are looking for specific qualities such as analytical thinking, leadership skills, and communication skills, which all can be learnt through doing an MBA. Advancing your career and standing out from the crowd with these skills can be hugely beneficial for securing employment.

Better Communication

Many MBA graduates find themselves being able to communicate more effectively with their colleagues, employees, and bosses. During your course, you will be able to engage with your fellow peers and teachers who can give you guidance and support along the way. Knowing how to communicate is crucial, not only in the business world, but in everyday life, so having the right skills behind you can really make a difference.

Self-Discipline

To get the most out of your MBA degree, you will need to attend all classes and study sessions, as well as completing assignments on time. Knowing how to prioritize your workload and adhering to deadlines is important in every aspect of life, whether it be in education or the working world. To do this effectively, you will need to have strong self-discipline. It's important that you know how to manage your time effectively too. With work, family, and social commitments to juggle alongside your degree, it can be hard to focus on your course, so finding a quiet area to study is key.

More Job Prospects

While experience can help you secure your dream role, having the right education behind you is just as important. With many companies requiring or preferring their candidates to have an MBA, it only makes sense to complete one. Once you've earned this degree (and scored good marks), you will have more choice available to you when it comes to finding a job.

Network of Colleagues

During your MBA degree, as well as communicating with fellow students, you will be able to meet people within your industry. This can be a huge advantage, especially when it comes to seeking employment. As the saying goes, it's not what you know, but who you know in many cases, so networking with industry professionals can be used to your advantage. In the business world, there are many promising opportunities that candidates look out for, so being in the know and having a network of colleagues can only be a good thing.

Finding an MBA Course

Now that you have an idea of the benefits that you can receive from completing an MBA degree, the next step is to find one in your area. Here is a list of programs that can help you find the right course for you. The MBA Tour has a detailed list of MBA programs across the United States, giving you more information on course specifications and locations.

Throughout your MBA course, you will learn a range of transferable skills which you can utilize in business, helping you to succeed in your chosen path. There are plenty of other valuable things you will gain from learning too, such as increasing your self-confidence, broadening your job prospects, as well as knowing how to communicate effectively with colleagues and peers. If you're interested in completing an MBA, there are various establishments across the country who offer the course, giving you more reasons than ever to sign yourself up and secure your dream role in the business world.

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Business

How These Co-Founders Exited for $100M Without Any VC Funding

When their frustration with current fabric care options had fashionistas Gwen Whiting and Lindsey Boyd worn out, the two entrepreneurs made it their mission to start a new niche and launch their very own at-home, eco-friendly laundry detergent line.


With a mission of turning an everyday domestic chore into a luxurious experience, these entrepreneurs not only conjured up an idea for an unconventional product line, but they successfully built their business while turning down the offer of every venture capitalist to knock on their door.

Gwen Whiting and Lindsey Boyd co-founded The Laundress in 2004 after dealing with their own personal frustrations with limited clothing care options. Whiting, having worked at Ralph Lauren in design and Boyd having worked at Chanel in corporate sales, soon accumulated a stylish wardrobe of designer pieces as perks of their jobs in the fashion industry. However, the duo quickly realized that the maintenance required for upkeeping these items were far from adequate. Laundry products on the market at the time did not cater to delicate textures and fabrics such as tweed blazers, cable-knit cashmere and silk blouses. Taking their clothing to the dry cleaners also proved hopeless as their clothing would often come back with stains or even be ruined despite the overload of chemicals used to clean them. With nowhere left to turn, Whiting and Boyd were determined to create their own laundry solutions designed for specific fabrics.

Not only did the entrepreneurs develop the business expertise needed to finally begin their own company, but they also shared the same educational background that equipped them to pursue their unconventional business venture. Whiting and Boyd met in college as students at Cornell University majoring in Fiber Science, Textile, and Apparel Management and Design. The pair was introduced by a mutual friend and instantly knew they would become business partners. "It was inevitable that we were going to have a business together. We are both extremely entrepreneurial by nature, and it was one of the connections that we instantly shared" said Whiting. After focusing on pursuing their own individual careers for a while, Whiting and Boyd quickly discovered a void in the fabric care marketplace when their clients would continuously inquire about the upkeep of their designer pieces.

The entrepreneurial duo was committed to researching and developing their own eco-friendly laundry products and soon launched their own at-home solutions for specific fabrics like silk, wool and denim, which ultimately eliminated the need for dry cleaning for those particular items. Despite their products filling a necessary void in the market, it quickly became challenging for the founders to persuade people to shift their focus away from traditional laundry care options in order to try their products. However, Whiting and Boyd believed in their mission for the Laundress and bootstrapped from the very beginning, refusing all venture capital funding with the goal of growing organically. In order to be successful, they had to get creative in fundraising. "In the very early days, we funded business development by hosting a 'for profit' party at a New York City restaurant and inviting friends, family, co-workers, etc. to support our new venture. That was pre-Kickstarter and an inventive way to make everyone feel a big part of our decision to be entrepreneurs," said Whiting.

While turning down VC funding as new entrepreneurs seems unimaginable, it is as equally unfathomable to consider how these women gained national traction without social media, all the while hustling to fund their business. For Whiting and Boyd, who started their business before social media existed, it was imperative that they promote their brand by leveraging the resources they had available to them. The CEO's were one of the first to sell consumer goods, let alone detergent, online with the goal of reaching a national audience. Despite having limited retail distribution, they leveraged the power of their website and became featured in publications on both a national and international scale. "Before social media platforms existed, we nurtured our own Laundress community with engaging content on our website, step-by-step tutorials on our blog, and one-on-one communication through our Ask The Laundress email," Whiting explained. With technology evolving and the birth of social media platforms, the founders expanded the conversation about their products from website, blog and email to platforms like Facebook and Instagram.

As female entrepreneurs, Whiting and Boyd faced additional hardships as misconceptions about their mission ultimately proved to disappoint more than it encouraged them. As women selling luxury detergent, there existed a preconceived notion that funding would be more easily attainable based upon their gender.

"Everyone thought it was easy to access capital as female entrepreneurs, but it was actually very challenging. We had this unique and disruptive idea within a very traditional space and it was hard to get people on board at first. It's been a continuous journey to educate people in fabric care and home cleaning," said Boyd.

Reflecting on their journey as entrepreneurs, the founders express no regrets about refusing to accept venture capital throughout the process. "Over the years, we could never quantify the cost benefit of VC funding so we continued to grow organically and remain independent by funding ourselves with credit cards and loans," explained Boyd. While their decision proved fruitful, the duo expressed their consideration towards other entrepreneurs who may not be able to fully fund their business as they grow. Because funding is a situational experience, entrepreneurs must ultimately do what is best for their business as no one path is optimal for every entrepreneur or every business.

With an increasing amount of women entering entrepreneurship with their own unique set of products or services, the CEO's offer up one piece of advice on how female entrepreneurs can be successful in their endeavors.

Whiting: "Our advice to anyone looking to build their brands: Have a strong business plan and vision. If you are not disciplined to write a business plan first then you are not disciplined to start a business. Get your ideas down so you ask yourself the right questions; it helps you get organized and plan next steps."

Boyd: "Create quality products without sacrificing the ingredients—no cutting corners. What you create should be the most important piece. Stay passionate, and trust your instincts and follow your gut—something woman are awesome at!"