MBA’s can be a useful tool for corporate leaders looking to transition into becoming a business founder and owner.
Many people see a master of business administration as a proving ground for a successful corporate career. But it can also be good training to start your own business.
“By the time I was 32, I was part of Airbus Australia’s senior leadership team. But because I had been with the company since I was 21, I knew I needed to get external experience to take the next step. I wanted more independence andSo Bryant left the business and, after a brief hiatus with another firm, started the aerospace business Aeromech. He started his MBA in 2012 before he left Airbus, and finished in 2017 after starting a family and climbing the leadership ladder.
Bryant says the opportunity to study at Harvard University through his MBA was also priceless. “I learned about applying the agile thinking process to manufacturing to take a product to market very quickly.”Melanie Arnost says her MBA from Griffith University completely changed her life, but not in the way she expected. Arnost started her business Montessori Medic in the middle of her MBA.
Arnost was fortunate to win a half scholarship for her course and paid for the remainder of the $41,000 fee through HECS-HELP.Tom Arnold is another MBA alumnus who credits his course with a COVID transition. Arnold finished his degree through RMIT in 2020 and was just about to open his business, Canberra Martial Arts“I used the principles I’d learned to take my business through the lockdown years and grew it 30 per cent year-on-year,” he says.
He drew on what he learned during his degree to create a new business model based on online memberships. Half his membership base transitioned to the online offer.Post COVID, he has called on the insights he learned during his MBA to figure out how to restructure the business to expand to new locations.UTS MBA graduate Lorraine Gnanadickam says she learned many surprising lessons through her degree. She started her business, Foodst, when she was a student in the course.
She sees her transition into her own business as a natural progression. “In 2007 I was a business manager working in a structured corporate environment. I craved the opportunity to work in more strategic roles that required lateral thinking, which is why I did the MBA. I was gravitating towards roles that were more entrepreneurial. I was always at the forefront of change, setting up new management structures and leading first-of-their-kind projects.
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