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Is an MBA worth it for entrepreneurs? What to look for if you are building a business
A practical look at what a traditional MBA teaches, what it costs, and which format fits founders who are building a business.
By Oneday ResearchEstimated read time: 6 minutes
A traditional MBA asks you to step away from your work for two years. For a founder with an idea or a few early customers, those are the years when the business needs you most.
An MBA can help entrepreneurs build business knowledge, expand their network, and gain credibility in a new industry. The format decides how much of that value you can use. A program built around your day job and your own company works very differently from one built for a full-time student.
The right choice depends on what you need to build. If you are an aspiring founder with an idea, or an early founder with your first customers, you need practical guidance on your next step, and you need to keep your income and momentum while you get it.
This guide explains what a traditional MBA teaches, what it costs, and how an applied MBA for working founders compares.
In this article, you will learn:
- What a traditional MBA teaches and how it applies to starting a business
- What an MBA costs in time and money before you see any return
- When a traditional MBA still makes sense
- Who an applied, mentor-led MBA is the best fit for
- How an MBA built around your own business works, and how federal aid can pay for it
On this page
What a traditional MBA curriculum teaches
Most traditional MBA programs cover the same core subjects. Those subjects teach you to run a large, established company. A founder starting from an idea or a handful of customers needs a different set of skills. The table below shows what each course teaches and what a founder needs at the start.
| MBA course | What it teaches | What a founder needs at the start |
|---|---|---|
| Corporate finance | Capital budgeting and financing decisions for large companies | Knowing how much cash you can spend this month and what to charge to turn a profit |
| Marketing strategy | Brand campaigns for companies with large customer bases and budgets | Finding your first customers and learning what they will pay for |
| Organizational behavior | Leading and structuring large teams | Doing every job yourself until revenue lets you hire your first helper |
| Operations management | Improving supply chains and processes that already exist | Building simple, repeatable systems from scratch |
| Case method | Studying how established companies made decisions with large data sets | Making decisions with the limited data your own customers give you |
| Accounting | Financial reporting for companies with finance departments | Keeping the books for one bank account and tracking your margins |
MBA course
Corporate finance
- What it teaches
- Capital budgeting and financing decisions for large companies
- What a founder needs at the start
- Knowing how much cash you can spend this month and what to charge to turn a profit
MBA course
Marketing strategy
- What it teaches
- Brand campaigns for companies with large customer bases and budgets
- What a founder needs at the start
- Finding your first customers and learning what they will pay for
MBA course
Organizational behavior
- What it teaches
- Leading and structuring large teams
- What a founder needs at the start
- Doing every job yourself until revenue lets you hire your first helper
MBA course
Operations management
- What it teaches
- Improving supply chains and processes that already exist
- What a founder needs at the start
- Building simple, repeatable systems from scratch
MBA course
Case method
- What it teaches
- Studying how established companies made decisions with large data sets
- What a founder needs at the start
- Making decisions with the limited data your own customers give you
MBA course
Accounting
- What it teaches
- Financial reporting for companies with finance departments
- What a founder needs at the start
- Keeping the books for one bank account and tracking your margins
Oneday's curriculum teaches the right-hand column. Its 72 sprints, grouped into four phases (Validate, Build, Launch, and Scale), walk you through each step on your own business.
The cost of a traditional MBA
A two-year, full-time traditional MBA at many private schools can reach well into six figures. That does not include the income you give up while you are in school or the time you spend away from the business. A part-time or online MBA lets you keep working, but it takes longer to finish and still follows a curriculum built for large companies. Either way, the real cost goes beyond tuition.
| Cost category | What it includes |
|---|---|
| Tuition and fees | The advertised price of the program itself |
| Lost income | The salary or business revenue you give up while studying full time |
| Time away from the business | Hours you spend on coursework when you could be working with customers |
| Relocation or housing | Costs that apply when you need to live near campus |
Cost category
Tuition and fees
- What it includes
- The advertised price of the program itself
Cost category
Lost income
- What it includes
- The salary or business revenue you give up while studying full time
Cost category
Time away from the business
- What it includes
- Hours you spend on coursework when you could be working with customers
Cost category
Relocation or housing
- What it includes
- Costs that apply when you need to live near campus
Time away and relocation are costs of the traditional format. Oneday's MBA takes about 18 months at 10 to 20 hours a week, delivered mainly online with optional in-person events. Most students complete it while keeping their full-time jobs, so you stay near your customers and never relocate.
Federal aid can fund an applied MBA
Oneday delivers its MBA through William Jewell College for students who hold a bachelor's degree. The all-in tuition is $32,800. The degree is US-accredited and recognized by the Higher Learning Commission (HLC), so students can apply for federal financial aid through the Free Application for Federal Student Aid (FAFSA). About 70% of William Jewell students use federal aid to pay tuition.
Students without a bachelor's degree can also use federal aid, including Pell Grants, for the Bachelor's in Entrepreneurship. It costs $637 per credit (rate locked), and a transcript request gives you a personalized total.
Eligibility depends on your own financial situation, so check your options on the FAFSA. Because you keep working, you also keep your salary.
Ask yourself these five questions
- What problem would the MBA solve for me?
- What would I give up to attend the program?
- What stage is my business in?
- Could I get the same value another way?
- Will I use the degree beyond this business?
When an MBA may make sense
An MBA can be a good idea when it solves a specific problem for the founder, such as a lack of credibility. Here are three situations where the degree may provide you with value.
You are switching industries
A strong track record in one industry does not always cross over to another. An MBA can help you get your foot in the door while you build credibility in a new field.
You need credibility with lenders or partners
If you are applying for a business loan or pitching larger partners, an MBA may give you credibility, especially if you have no track record in the business world. It will not make up for a weak business. However, it can help when lenders and partners are getting to know you.
You are entering a specialized market
Some industries put more weight on formal education than others, such as healthcare or financial services. If you are entering a regulated or highly technical market, you may find that an MBA helps open doors.
In each case, the credential is the goal. An accredited MBA that you earn while running your business gives you the same credential without pausing the business.
Who an applied MBA is the best fit for
An MBA built around your own business fits best when you want a structured path and expert guidance without pausing the work you have already started. These situations show who benefits most.
- You have an idea and want a clear order of steps:
- Most aspiring founders already have the idea. They need to know what to do first, from testing demand to finding their first customers.
- You already have paying customers:
- Your customers give you feedback no textbook can. A program that uses your own business as the coursework puts that feedback to work in every assignment.
- You need cash for your business:
- An accredited program that is eligible for federal aid lets you keep more of your savings and revenue in the company.
- You rely on your income:
- A program built for 10 to 20 hours a week fits around a full-time job. You keep your salary and your momentum.
- You want guidance from someone who has done it:
- A mentor who built a business like yours shows you the next step on your real decisions.
- You do not have a bachelor's degree:
- The Bachelor's in Entrepreneurship, delivered through William Jewell College, lets you start now with the same mentor-led model and continue into the MBA later.
Alternatives to a traditional MBA
You do not have to choose between a full-time MBA and learning entirely on your own. Several options let you keep working while building the knowledge or support you need.
- Part-time or online MBA:
- You can keep working while earning an MBA over a longer period. The program still follows a traditional MBA curriculum, but the schedule gives you more room to apply what you learn to your business.
- Certificate program:
- A certificate makes sense when you need to strengthen one specific skill, such as financial planning or business analytics. You can sometimes finish the program in a few months.
- Applied MBA for founders:
- Programs such as Oneday's build the degree around your own business, with a mentor and a flexible schedule. The next section explains how it works.
Early on, most founders need a clear order of steps, a mentor, and room to keep earning. As the business grows into a larger company, a traditional curriculum becomes more useful.
Build your business while you earn your MBA
Oneday's Entrepreneurial MBA is built for founders at the idea stage and early founders with their first customers. Your business is the curriculum. You work through 72 hands-on sprints in four phases (Validate, Build, Launch, and Scale), and revenue and real progress replace exams and essays.
72
hands-on sprints in four phases
- Validate
- Build
- Launch
- Scale
- Mentor-led:
- Every student meets weekly 1:1 with a mentor, a 7-figure founder matched to the industry of the business you want to build. Someone launching a fashion brand, for example, works with a founder who has opened multiple boutiques. Mentors take no equity.
- Accredited MBA:
- The degree is issued through William Jewell College for students with a bachelor's degree. Founders without one can start with the Bachelor's in Entrepreneurship, also delivered through William Jewell, and continue into the MBA afterward. The MBA still counts toward your career even if your business takes a different direction.
- Fits around your job:
- The program runs about 18 months at 10 to 20 hours a week, mainly online with optional in-person events. It requires no relocation and no GMAT.
Oneday founders average $150K in revenue, and 76% launch or scale their business within 18 months.