If you are someone who has always wanted to get an MBA, or maybe it is something that has entered your mind since you’ve worked your way up a certain amount in your career, then it can be hard to know when the time is right.
An MBA can do a lot to propel your career and earning potential to new heights and can also give you the knowledge you need to be effective as an entrepreneur if starting your own business is something you’d like to do in the future. However, it is certainly a study program that you will get a lot more out of if you already have a good level of experience in real work and business and is also a challenging one that will require a lot of investment from you in terms of time and effort.
While the option to do your MBA online can certainly make it more affordable, and easier to fit around your existing work, family, or business commitments, and there are lots of highly reputable MBA courses available to do this way from business schools all over the world, like this online MBA in Canada from Aston University, it is still a good idea to be certain you are ready to commit before you take on the challenge.
Here are some signs that you might be ready to enrol for your MBA program now:
You Don’t Think You Can Progress Any Further Without More Education
If you are starting to feel that you have achieved all that you can in your current career without gaining more knowledge and the credentials that come with it, then this can be a good sign that it is time to think about doing your MBA. It could be that you have reached a middle management position and are currently happy there but know that in a few years you will be seeking a promotion and may struggle to move onwards and upwards without the MBA.
Given your MBA won’t be completed overnight, especially if you are doing it part-time while also continuing to work, you don’t have to wait until you feel you are stuck in a job that no longer challenges you to make a start – you can make it part of your longer-term career strategy and start it a few years before you see yourself aiming for senior management positions.
You’re Losing Motivation and Craving Something New
If you have been in your current role for a while, you may find yourself missing the phase of being new to something and on a learning curve. If you are completely comfortable and competent in your existing position, then the challenge of studying for an MBA and picking up new knowledge and skills can reignite your enthusiasm for work, as well as open up paths to other jobs you may find more stimulating. Some people even just miss having something to study after a few years of corporate life following college, and while there are plenty of ways to scratch that itch with hobbies and interests, enrolling for an MBA can give you that educational challenge while also helping you earn more money and take on more senior roles in the future.
You Have A Great Business Idea But Lack Some of the Knowledge to Pull it Off
A lot of people start to do an MBA just to improve their employment prospects at a senior level, but many people want to learn the content of an MBA course so that they can start their own company with the best possible grounding in a wide range of business skills. Most people who want to start a business have some of the skills necessary to do it, but few have all of them. This is because usually people want to start businesses in fields they have professional knowledge of or which relate to their areas of personal interest, and so while they may know a lot about providing the services or products their business will be based around, the administrative side is often where they lack experience.
With an MBA, you will be able to learn all of the aspects you will need to oversee your own company, including market research, promotion and sales, budgetary management, international business, and much more. Having an MBA will also be appealing to people you may want to do business with in the future, like clients, suppliers, investors, and partners.
You Have Enough Experience and the Time to Commit to it
Just having a good reason to do the MBA is not all you need to think about when considering whether now is the right time. To be eligible to do an MBA you will need some relevant real-world work experience, either in a management capacity in a corporate environment or having run businesses you started up yourself before. But how much experience is enough varies from person to person – just being eligible doesn’t necessarily mean you wouldn’t benefit from getting a couple more years in the workplace first, to really be able to apply what you learn to situations you have seen in the wild. Evaluate how experienced you feel you are. Three years of experience as a project manager working on all different projects for different clients will be different to three years of experience supervising the same team doing the same work, in terms of the different situations you will have had to deal with.
Naturally, you also need to know you have time to put into studying. If you are currently between jobs, for instance, having been made redundant, then that can be a very good time to do an MBA, but if you are going to do it while continuing to work, think about your possible schedule, and if possible, talk to your boss about whether your employer may support you with some extra time off for studies – many companies will do this for work-relevant further education.
If you feel like the time is right for you, then why not take the plunge and start researching your online MBA options today?