Are you thinking of starting your business but are considering studying for an MBA? It’s possible. MBA grad Samantha Henderson shares her experience of launching a tech startup while studying full-time.
Helpful for: MBA Applicants, Entrepreneurs
Read Time: 6 minutes
• According to a survey from AACSB International, the share of women studying for full-time MBA degrees at U.S. schools between 2012-2017 was less than 38%
• According to Pitchbook 2% of female founders received venture capital funds in 2017
• Remember to trust your instincts while you’re studying for your MBA, even if it means missing a statistics class to meet with some old colleagues. If Samantha hadn’t missed that class for a meeting, she wouldn’t have found the co-founders of her current company.
• Starting a business requires risk-taking. Samantha says:
If you wait for the perfect time to launch your business, you may wait a long time. Between work, studies, and your personal life, there will never be a “right time” to take the leap. So, don’t think you have to first graduate, or have the perfect business plan, to pursue your dreams. And if it’s the cost that’s putting you off, note that women see their pre-MBA salary increase by 55% to 65% within five years after graduation, according to a Forté Foundation study.
• Launching a startup during your MBA is a great idea because you will benefit from the insight of those around you—students, professors, business professionals.
• You will be able to pitch your project to venture capitalists, and also participate in pitch competitions organized by your university.
• According to MBA Fund, MBA-led companies are 60% more likely to generate $10 million plus over a lifetime, and 24% more likely to reach a $100 million-plus valuation.
• After graduating with an MBA in Los Angeles, Samantha moved to New York, expanded her network and ended up pitching her startup at an alumni event Manhattan in front of VCs and students of her university.
Are you thinking of launching your own startup? Share your innovative idea in our forum!