Are you exploring entrepreneurship arenas post MBA instead of taking up a job? If yes, this is the right start of putting up your plans into action. But, how can it be achieved? Most of the MBA graduates are under a notion that the degree will help them lure a better career in terms of remuneration. Although, as a matter of fact, MBAs manage to drive a handsome figure in their bank accounts; not always is the case. Most of the times, jobless candidates can be found even after pursuing degrees from reputed institutes. The reason behind this is the inability to use their potential and interpersonal skills in a dedicated direction.
Business schools promise a dynamic range of career graph as an MBA to all those students who are aspiring to become business graduates. Apart from MBA programs, various other programs are also offered here. This institute teaches you techniques and opens you to the best tips of going for entrepreneurship post MBA.
Of course, business schools make you learn financial modeling, regression analysis, and corporate case studies while establishing a firm demands-passion, guts, a good fortune and endless pleas to your relatives and friends for finances. For instance, AIMS in Bangalore prepares you for all of this.
Almost every MBA possesses the qualities and potential to start up his/her own business but what lacks is the proper guidance and a roadmap. To get the curtains off from these confounding notions, one of the business schools in Bangalore AIMS presents a unique set of options to modify a founder’s chance of career success.
Here are few tips that could help you on your transitional way to be an Entrepreneur:
1. Thorough Research- With a co-founder splitting the company ownership gets you a face of choice, inevitably. On initial terms, it appears the 50/50 option pretty much simple. But complexity arises when your co-founder takes up a high-paying corporate job few months later and decides to remain an equal owner. So, it is always best to draft a Non-Disclosure Agreement and get it claimed legally by all the founder members prior to starting up the venture.
2. Hunt for a Mentor- MBA candidates are distinctively positioned to search for a mentor, invested in their success grid. There is lots of successful entrepreneurs on the board of faculty. It is best to establish a personal relationship with these faculty members or even a successful entrepreneur from any acquaintance. Once you get them on your team, you will gain the most valuable asset of all the rest.
3. The Commitment Clause- There would be greater possibilities of top management consulting firms paralyzing you just after you are done with the degree. Until you decline the opportunity, you would not be able to make serious decisions about company’s location, its orientation etc. since you would be away from your vision. Under such circumstances, you would neither be able to hire a talented suite of people nor convince them on abandoning their current jobs; as that would sound unethical. All of this could be betteravoided by sticking onto the commitment clause. Only then you will be able to chalk out what is right and what is wrong for your upcoming venture in the real sense.
4. Relentless Focus on Product- A keen focus on your product is a personal mantra these days. Validation of the customer assumption could come alone from leveraged business training, customer behavior, analytical rigor, and product features.
5. Pitch everyone- The significant benefit of pursuing an MBA is that you gain access to virtually each and every individual you see poking holes in your notions. These could be the lawyers, faculty, classmates, VCs, angel investors, potential customers or corporate executives. Get soaked in their valuable feedback.
Few weeks later, it will come to your attention that the received critiques are clustered around anticipated weak points in your upcoming business model or product idea Catch-22. With a collection of all those critiques, people will start signing checks to you and work for you quitting their jobs.
Gaurav Singhal- CEO and founder of Door Ironmongery Ltd, Gaurav Singal is an Aston MBA graduate. With a view of expanding his business, he is e-commerce forge with iron manufacturing in UK. He launched his latest door furniture fittings in Britain with an aim of expanding his fleet of small business. His first company was J P Hardware; exports hardware manufacturer, in 2007 in India. This company made a profit of $600 on its very first order. Gaurav enrolled for an MBA program at Aston Business School, based in Birmingham in 2013 to emerge as a burgeoning entrepreneur.
One of the Business Schools in Bangalore – AIMS School of Business (AIMS Institutes), prepares you for a similar career through AIMS Entrepreneurship Centre (AEEC), making you take up the position of a leading entrepreneur. So, if you have got that fire in your belly to come up with your dream venture, write to us for more information and we are happy to help you!