As self-employed individuals with big aspirations, entrepreneurs can build their career into anything they choose. Many entrepreneurs start small businesses, grow startups into large organizations, or found non-profit organizations. Entrepreneurship is achievable, too; according to a 2016 survey, 25 million Americans either owned or were starting their own business.
An Online MBA Entrepreneurship teaches all the skills necessary to succeed as an entrepreneur, helping graduates create businesses that succeed. This page explores the best online MBA in entrepreneurship programs, the benefits of completing the online MBA, and what to expect from an online degree. A finance specialization also leads to high-growth and well-paying positions. According to the Bureau of Labor Statistics (BLS), all business and finance occupations are projected to grow by 7% from 2018-2028, good for an addition of 591,000. This page explores the reasons why you should pursue an online MBA in finance and what you can expect to study during an online MBA in finance program.
The best online MBA in entrepreneurship programs aptly prepare graduates to found their own successful businesses. Using a combination of factors including student outcomes, curriculum, and prestige, we’ve determined that these are the best MBA in entrepreneurship online programs.
Students concerned about the cost of an online MBA in entrepreneurship may not know that many high-quality online MBA programs are also affordable. Using various scenarios to determine tuition rates and cost of attendance, we’ve determined that these are the most affordable online MBA in entrepreneurship programs.
Understanding an Online MBA in Entrepreneurship Program
An online MBA in entrepreneurship mixes the business requirements of an MBA with courses specific to entrepreneurship. During a program, aspiring entrepreneurs learn to value businesses, network, innovate, and create through different specializations and coursework.
Common Specializations for an Online MBA in Entrepreneurship
Beyond selecting a degree in entrepreneurship, some colleges also offer specializations. These specializations help students hone specific skills that aid them in founding future businesses.
Area of Focus
Careers This Concentration Prepares For
Entrepreneurship and Innovation
A specialization in entrepreneurship and innovation teaches students with the analytical skills necessary to discover niche markets with potential. This specialization also includes courses on developing new ideas, protecting intellectual property, and acquiring new businesses. Upon graduation, students can put together business plans and gain insight from other industry leaders.
Marketing managerTop executive
Entrepreneurship and Leadership
Unlike a normal MBA in entrepreneurship, and specialization in entrepreneurship and leadership focuses heavily on leadership skills like communication, business planning, and decision making. Best for students interested in starting large businesses or acquiring existing businesses, entrepreneurship and leadership might include courses in human resources, management, and talent development.
Training and development managerTop executive
Ideal for seasoned business professionals looking to learn the nuances of business, a specialization in executive entrepreneurship focuses on founding a startup, developing teams, and breaking through various business barriers. This program prepares individuals for less technical aspects of entrepreneurship, though it includes fewer courses on finance, accounting, and marketing.
Management analystTop executive
Sometimes known as social enterprise, social entrepreneurship teaches students to analyze social problems and provide effective, healthy solutions. Graduates of these programs tend to found businesses that promote social wellness, and schools sometimes require students to immerse themselves in developing nations to learn more about social initiatives.
Top executiveNon-profit organizations
Online MBA in Entrepreneurship Admission Requirements
Each college and university sets its own admission requirements for the online MBA in entrepreneurship. Specific requirements vary by school, but anticipate needing to meet all the following requirements when applying.
Bachelor’s Degree: Because an MBA is a master’s-level program, schools require applicants to first earn a bachelor’s degree from a regionally accredited university. Most schools do not set requirements for undergraduate majors.
Prerequisite Courses: In some instances, school might require applicants to demonstrate proficiency in skills with prerequisite courses. If the applicant’s undergraduate coursework does not satisfy this requirement, students may need to take one or two courses before applying.
GPA: While some MBA programs set minimum GPA requirements, others reward applicants with high GPAs by waiving other requirements including prerequisite courses and standardized test scores.
Work Experience: Most MBAs were created with current business professionals in mind. An MBA program may require 1-2 years of relevant professional experience, though some require as many as five years of experience.
GMAT/GRE Scores: The GRE serves as a measure of graduate school readiness and the GMAT measures MBA-program readiness. Some schools require one or both of these exams.
Online MBA in Entrepreneurship: No GMAT or GRE Requirements
Some schools, such as the University of Denver University College, offer an MBA in entrepreneurship online and do not require GMAT or GRE scores. These innovative programs can save applicants time and money by avoiding standardized tests. Here are a few more online MBA entrepreneurship no GMAT programs:
Curriculum for an Online Master of MBA in Finance Program
An MBA in entrepreneurship begins with general business courses. As students progress through the degree, they start taking advanced courses related to entrepreneurship. Every school creates its own curriculum, but many colleges offer the following courses in their online MBA in entrepreneurship.
Entrepreneurial Finance: Building off finance courses completed in the MBA core requirements, entrepreneurial finance takes a look at venture finance, investing, seed funding, venture capital, and IPOs. This course also explores how to grow a business through financial methods including stock options, hiring employees, and valuing the business for acquisition or funding.
Valuation: Whether entrepreneurs are looking to acquire a business or vie for seed funding for their current startup, valuing a business is a critical skill to learn. Valuation teaches students to connect financial statements, forecast cash flow, and estimate the cost of running a business. Using this data, students then learn to value businesses.
Negotiations: One of the most important skills for entrepreneurs to master, negotiations occur regularly, from determining the terms of a sale to selecting a healthcare provider. This course teaches students different skills to take control of negotiations, utilizing real-world scenarios and web conferencing to get students to interact with one another.
Global Perspectives for International Business: Many businesses grow beyond the nation’s borders, and global perspectives for international business prepares future entrepreneurs for the hazards of international business. Topics include strategy, marketing, finance, supply chain management, as well as international culture, regulations, and politics. Some programs focus on specific nations or fields of business.
Managerial Communications: From negotiating contracts with clients to emailing employees, entrepreneurs communicate with all types of people over various mediums. Managerial communications teaches interpersonal communication skills through writing and speaking exercises. Students also perform mock interviews with one another and record themselves speaking.
Skills Gained in an Online MBA in Entrepreneurship Program
Entrepreneurs require a large set of skills to succeed in future ventures. An online MBA in entrepreneurship provides aspiring entrepreneurs with all the skills they need to start their first business. Some important skills covered in the MBA program include:
Communication: Entrepreneurs must communicate with others on a regular basis. When first forming their business plan, entrepreneurs also need to effectively articulate their ideas to potential investors. Students master communication skills through online courses.
Networking: Building off the interpersonal skills mastered by entrepreneur students, networking teaches learners to connect with other entrepreneurs on a professional level. Networking is critical for any entrepreneurial venture.
Problem-Solving: No entrepreneurial venture goes off without a hitch. Entrepreneurs must be able to quickly identify problems and pivot. Courses in the MBA program provide students with plenty of actionable solutions.
Marketing: No matter what field the entrepreneur works in, they must market their ideas to others. During the MBA, students learn valuable marketing skills including digital marketing, SEO, SEM, advertising, and branding.
Fundraising: Businesses need capital to begin, and entrepreneurs launch various fundraisers to attract the attention of investors. MBA programs teach different fundraising skills to help entrepreneurs get their projects off the ground.
How to Pay for an MBA in Entrepreneurship Degree
Students may have a clear idea of which program they want to attend but need to figure out how to pay for their education. Aside from student loans, some popular ways to pay for an online MBA in entrepreneurship include grants, fellowships, financial aid, and scholarships.
Techniques for Paying for Your Online MBA
Schools and organizations extend grants to students who exhibit financial need and/or academic excellence. Unlike loans, students do not pay back money earned from grants.
Fellowships provide students with funding to pursue projects related to their field of study. For example, the 1Hotels Fellowship at E2 provides entrepreneurs involved with sustainability with $25,000 in funding.
Colleges and universities use funding from donors and the government to provide students with financial aid. Requirements vary by school, but most require applicants to express financial need.
Scholarships for Online Master’s in Entrepreneurship Students
Scholarships provide MBA students with an effective way to reduce the cost of their degrees. Some scholarships only accept applicants pursuing a degree related to entrepreneurship. Some scholarships to look at include the following:
Kitchen Cabinet Kings ScholarshipWho Can Apply: Founded by entrepreneurs, Kitchen Cabinet Kings provides one student interested in entrepreneurship with a $5,000 award. Applicants must submit an essay in response to Kitchen Cabinet Kings’ topic. Amount: $5,000
Grasshopper Entrepreneur ScholarshipWho Can Apply: Grasshopper Entrepreneur Scholarship helps students interested in entrepreneurship and starting their own business. Applicants need to submit a short essay, and previous winners run businesses while still earning their MBA. Amount: $6,000-$12,000
BlueVine Young Entrepreneurs ScholarshipWho Can Apply: BlueVine awards two $5,000 scholarships to students who plan on becoming entrepreneurs. Graduate applicants must have a 3.3 GPA and submit a 600-800 word essay. Amount: $5,000
Tourism N Travel Small Business ScholarshipWho Can Apply: Awarded to students pursuing a degree related to hospitality, tourism, or business, those who demonstrate a desire to start their own business can apply for the program. Applicants must have a 3.5 GPA or higher. Amount: $2,000
Career and Salary Outlook for Online Entrepreneurship MBA Graduates
Students who earn an online MBA in entrepreneurship gain many skills that can translate into any industry. Entrepreneurs always hold leadership positions within organizations they found and create, so the industry where graduates work depends entirely on the individual’s preferences.
While entrepreneur job titles and roles vary, the following positions include some potential landing spots for entrepreneurs. Note that no amount of education guarantees a position or specific salary, especially for highly variable fields like entrepreneurship.
Advertising, promotions, and marketing managers do all-things marketing, from conducting market research to directing advertising strategies. The BLS reports that 11% of these professionals are self-employed.
Also known as management consultants, management analysts are outside experts hired by organizations to recommend changes to improve efficiency. The BLS reports that 15% of management analysts are self-employed.
A training and development manager creates training exercises for staff to improve their knowledge and performance of different subjects. These professionals might work as outside consultants who specialize in one type of training.
The heads of organizations, top executives run businesses. Entrepreneurs assume one or more top executive roles within their businesses and, along with other professionals, guide the company.
Resources for Online MBA in Entrepreneurship Students
Students and recent graduates of online MBA in entrepreneurship programs may not know where to begin their professional careers. These resources help connect aspiring entrepreneurs with other entrepreneurs, forming useful connections that could lead to business opportunities.
Business Professionals of America: A leading organization for all things business, Business Professionals of America connects young business professionals across all industries. Membership benefits include networking, seminars, and conferences.
Entrepreneurs’ Organization: Created in 1987, Entrepreneurs’ Organization helps entrepreneurs achieve their full potential. Member benefits include chapter and global events, a mentorship program, and networking opportunities.
FoundersCard: Founded in 2009, FoundersCard is a community of over 30,000 entrepreneurs. Members connect over best practices, lifestyles, and many great networking opportunities.
Young Entrepreneur Council: An exclusive group for new entrepreneurs, the Young Entrepreneur Council provides members with peer insights, professional support, and educational webinars. YEC also helps entrepreneurs establish and grow their brand.
Young Presidents’ Organization: Consisting entirely of successful young professionals, Young Presidents’ Organization works to connect entrepreneurs from around the world. With over 29,000 members, new members can quickly establish a large network.
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