Graduate students who are interested in owning and operating their own business, raising capital for start-ups, or marketing and managing innovation might find that earning a Hybrid Masters in Entrepreneurship or MBA with an Entrepreneurship concentration may help them with the tools to succeed and thrive.
If you are a busy professional or just prefer a flexible, low residency type of program, you might look into a hybrid masters in Entrepreneurship. These combine online with on campus courses, so you not only get the convenience of distance-learning, but also the ability to network with peers and professors. Finding a program is easy if you use the search tools on GradSchools.com; use the location tabs to generate results in a particular city, state, or country. You might find general MBA in Entrepreneurship or MS in Entrepreneurship options, as well as programs that specialize in one aspect or type of small business such as Management of Aging Services.
To compare programs, open several in different tabs. If you need more information about the curriculum, tuition, financial aid, faculty and teaching styles, you can use the “request info” tabs on the bottom of the screen.
Each student may look for different things from an entrepreneurship masters programs. Some are innovators, looking to learn how to market their product or sell their service and study the steps necessary to make their start-up venture a profitable enterprise. Some may seek more of an administrative and leadership role, where a comprehensive education in business skills, administrative and financial courses is more important to develop.
What you might want to consider is whether you are looking for a business program with an emphasis on entrepreneurship, or whether Entrepreneurship as a whole is the main focus of the degree and whether the program will teach you how to start a venture, or innovation and get it successfully off the ground..
Many start-ups are largely tech-focused and some entrepreneurship programs may respond to this trend by offering a focus on liaising the business and the product development side of a startup venture. In addition to personnel and marketing education, some masters of entrepreneurship programs may place additional focus on project management.
Unlike other Masters degree fields, entrepreneurship isn't specifically targeted to a set career path. Rather, many programs aim to provide students with the skills and know-how they'll need to forge their own industry and career goals upon graduation.
The allure of starting one's own business is that it provides a means of supervising one's vision for a product or service, instead of hiring a consultant. Some entrepreneurs do this through their role as chief executive of their own companies. The U.S. Bureau of Labor Statistics noted that chief executives claimed a 2012 median annual salary of $168,140, with jobs expected to grow by 11 percent through 2022[i].
There are many industries where good project management skills matter to an entrepreneur or self-employed individual. Many Construction Managers are self-employed and need to be able to plan, coordinate, budget, and supervise construction projects from development to completion. With Employment of construction managers projected to grow 16 percent from 2012 to 2022, this is considered a growing field as well[ii].
Perhaps you are someone who wishes to open up a specific type of facility; healthcare managers are responsible for different types of facilities including those geared for the elderly. The BLS predicts a 23% increase in employment[iii].
If you are interested in starting your own business then earning a Hybrid Masters in Entrepreneurship degree might be a solid investment of your time. Students in an entrepreneurship master’s degree program are typically exposed to courses intended to instill a solid foundation in business theory and also instruction that is specifically focused on the complexities associated with starting a new business endeavor. Why not use the search tools on GradSchools.com to find the program that matches your goals!
Sources: [i] bls.gov/ooh/management/top-executives.htm|[ii] bls.gov/ooh/management/construction-managers | [iii] bls.gov/ooh/management/medical-and-health-services-managers