Key characteristics of successful entrepreneurs and how an MBA helps develop them

The current decade is witnessing an entrepreneurship boom in India. The magnitude and scale of startups are at their highest, making India one of the fastest-evolving startup ecosystems in the world. The Indian government has recognized this growth and is providing incentives and launching schemes for the ventures to have a sustainable environment. Schemes for startups, namely, Startup India Initiative, Startup India Seed Fund Scheme, Pradhan Mantri Mudra Yojna, Atal Innovation mission, and their likes, have greatly benefited and are exceedingly favorable for start-up owners. 

What are the qualities of successful entrepreneurs?

All successful entrepreneurs have some common traits that define their success. It is not defined by age, race, gender, experience, or financial position but by some personal qualities that can set them apart. 

1. Well-educated: Entrepreneurs are highly knowledgeable people with extensive interest in different fields. They are inquisitive and open-minded and thus learn from every opportunity they have. They have a mix of practical knowledge and theoretical knowledge that equips them with an excellent understanding of running a business. All these qualities are collectively referred to as an entrepreneurial mindset.
2. Management: Business is all about managing time, people, and resources. Successful entrepreneurs develop an ability to devise targets, make plans and execute them.
3. Flexibility: Entrepreneurs learn from their mistakes and make necessary changes to develop a product that meets market requirements. They instantly evaluate situations and accept the challenges to keep moving forward with their business. 
4. Curiosity: A successful entrepreneur always remains curious to find new opportunities and explore various pathways. Since they always ask questions, they are always in the process of discovery.
5. Decisiveness: To utilize their leadership skills most, entrepreneurs need to make prompt decisions. Since leaders are responsible for guiding the business’s trajectory, they have to have the confidence to stand by their challenging decisions in every aspect of the business.  
6. Innovative mindset: Successful entrepreneurs are the most creative and innovative people with strategic thinking skills to have improved existing products in the market and make them useful. 

Also, read MBA in Banking & Financial Services vs. MBA in Finance.

Learn all key aspects of business with an online MBA

An online MBA can help develop sound business knowledge and skills that help you become a successful entrepreneur.

• Education and training in entrepreneurship: If you wonder about developing leadership skills as an MBA student, online MBA courses equip you with leadership skills that involve the expertise to recruit the right people, take care of clients and customers, and work in the media. Entrepreneurs who have an MBA are leaders who lead their teams in the right direction to achieve goals. They can also instill this leadership skill in the employees. 
• Exposure to real-world business scenarios and case studies: Business school is a global platform to bring diversity to the community. You can gain knowledge about worldwide trends and global market dynamics through your peers. Thought diversity leads to creative ideas that can tackle the most pressing situations. You develop skills to perform efficiently with organizations irrespective of cultural differences. 
• Networking opportunities with successful entrepreneurs and business leaders: MBA programs collaborate with the best faculty members, business associates, and industry experts to provide you with the best networking opportunities. This helps to create invaluable bonds, trust, and value, which can further help in business progression. 
• Mentoring and guidance from experienced professionals: MBA connects you to the best professors and alumni who can greatly help your start-up and might become your mentor, which could not be possible otherwise.
• Sharpened skills: We can’t ignore the Importance of soft skills for entrepreneurs. 30% of new businesses fail in the first two years of getting started due to financial crises and poor operational frameworks. MBA equips you with fundamental business knowledge and insights about governance, finance, strategy, operations management, marketing, data-driven decision-making, and organizational leadership to sustain in the marketplace.  

Check out B.Com vs. BBA: Which is better after 12th?

Develop key entrepreneurial knowledge and skills with an online MBA from MUJ

Manipal University Jaipur’s online MBA program helps you develop practical business acumen and leadership skills for the evolving global marketplace. The MBA curriculum is designed keeping in mind the latest developments in the business world. You can choose from various in-demand and new-age electives, namely, Finance, Marketing, HRM, Analytics and Data Science, Retail Management, BSFI, IT & FinTech, Operations Management, International Business, Project Management, etc.  It’s a huge opportunity for you to boost your entrepreneurial career at your own convenience with an MBA from our reputed University. Here’s what makes our MBA program stand out:

• Our Online MBA is a UGC-entitled degree from a NAAC A+ accredited university, Manipal University Jaipur. 
• You can complete the course in 24 months (or maximum 4 years) with 15-20 hours/week of study time from home. You get to learn at your own pace!
• The total cost of the course is INR 1,66,000, payable semester-wise, INR 41,500 per semester. You can also choose to pay in EMIs of INR 6,917/month.
• Our learners get free access to paid Coursera content. 

Conclusion

An online MBA program is perfect for those who want to hone their business knowledge and entrepreneurial skills. You can acquire market-relevant skills that can give you business insights to manage a business perfectly. You also gain practical skills that can help you tackle any situation in no time. Thus, the necessity of an online MBA is evident to become a successful entrepreneur.