Online MBA in Entrepreneurship: Scope, Top Colleges, Salaries, More

The biggest risk is not taking any risk. In a world that’s changing quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg.

Do you think that you are not a job person? Do you aspire to do a startup business like MBA Chaiwala ? Then after completing your graduation degree, you should go for an online MBA programme in Entrepreneurship. This programme is a postgraduate degree of 2 years of duration. It provides a unique perspective on managerial and supervisory skills. You can acquire the knowledge and strong networks required to become an inventor and entrepreneur by enrolling in the online MBA in Entrepreneurship programme. You need to have a bachelor’s degree in any discipline to enrol in this course, though experience in business, accounting, or statistics is preferred.

You can easily achieve your business goals, and generate networking and knowledge after pursuing an online MBA in Entrepreneurship. You can work in entry-level positions like Associate in Business Development or Manager of Products. You can expect an average beginning salary of INR 5 lakh to INR 12 lakh*. Read the blog further to learn about eligibility criteria, benefits and top colleges offering online MBA in Entrepreneurship.

What is an Online MBA in Entrepreneurship?

Having an MBA in Entrepreneurship equips you with the abilities and know-how required to establish and manage your own company. Subjects of marketing, accounting, finance, and business plan development are commonly included in this kind of online MBA programme. In an MBA programme focused on entrepreneurship, you will frequently be able to enrol in classes covering subjects like small business law and new venture management.

An internship is a common feature of MBA programmes in Entrepreneurship, that allows you to obtain practical experience in launching and managing a company. Getting an MBA in Entrepreneurship will get you ready for jobs managing entrepreneurial ventures, small business ownership, or being an entrepreneur.

Objective of Online MBA in Entrepreneurship

Online MBA in Entrepreneurship aims to develop theoretical understanding and practical ability. These are what you need to build and expand your own company. Earning an MBA in Entrepreneurship shows potential investors that you are passionate about your job and have the skills necessary to succeed.  This degree facilitates communication with executives and other business professionals. It allows you to interact with others in a way that will help you and your company grow. Also, many good MBA programmes have a specific experienced panel dedicated to entrepreneurship. This allows you to network with experienced business owners and get ideas.

Who Should Do an Online MBA in Entrepreneurship?

If you’re interested in starting your own firm or managing and developing an existing one, an MBA in Entrepreneurship is an ideal programme. You will gain the information and practical abilities required to start and run a business from the curriculum. Furthermore, the curriculum also encourages creativity and invention that are necessary for every successful business.

Selecting an MBA programme in Entrepreneurship presents a stimulating and demanding professional trajectory. Obtaining this degree will provide you the chance to realise your ideas and improve the world in which you live.

Eligibility Criteria & Duration

The duration of an online MBA in Entrepreneurship is 2 years. You can check out the eligibility criteria below. However, the eligibility criteria can be different for different universities.

• You need to have a 10th-class certificate which means completing 10 years of formal schooling.(may be required at the time of admission)

• You need to have a 12th-class certificate which means completing 12 years of formal schooling.

• Bachelor’s Degree in any discipline from any recognised university with a minimum of 40% aggregate. (The minimum marks criteria depend on college)

Online MBA in Entrepreneurship: Entrance Exams

You do not need a separate special management entrance exam to get admission to an online MBA in entrepreneurship. Some colleges consider CAT and MAT scores while taking admissions for online MBAs. On the other hand, some colleges take direct admissions based on marks obtained from bachelor’s degree or professional experience.

Course Structure

There are 4 semesters in this online MBA course.

The list of elective subjects includes Entrepreneurial Finance, Project Management, Enterprise Resource Planning (ERP), Marketing management, and Entrepreneurship and Innovation Management. You can check the list of subjects in the below table.

Top Colleges Offering Online MBA in Entrepreneurship

Check out the list of colleges that offer online MBA in Entrepreneurship with their respective fee structure. Some colleges offer an MBA in Entrepreneurship and Leadership. Clear your confusion here by the fact that both are the same degrees.

10 Tips To Start a Career After Online MBA Entrepreneurship

Many entrepreneurs always follow a routine to succeed in their careers. You can also get help from the 10 practical tips below to narrate your entrepreneurial journey.

1. Identify your goals: Aim for an MBA in Entrepreneurship. Choose whether you want to work in corporate innovation, start your own company, or join a startup.

2. Create a business plan: If your goal is to start your own company, create a proper business plan. Summarise your marketing strategy, financial forecast, market analysis, and business strategy.

3. Networking: Take advantage of the connections you have established while pursuing your MBA. Join professional groups, attend industry events, and ask mentors and former students for advice and possible connections.

4. Get real-world experience: You can apply for internship positions in startups or MNCs to gain practical experience. This will help you to understand the real-world challenges and dynamics of running a company.

5. Apply for funding: If you want to set up a business, try to explore multiple funding sources like businesses, angel investors, and banks. Prepare your proposal, then pitch it to venture capitalists, angel investors, or startup grants and incubators.

6. Learning & adapting: Keep up to date with market trends and never stop learning new things. Attend workshops, attend online courses and study business-related publications to improve your abilities and adapt to the changing market environment.

7. Establish a powerful online profile: Build an online professional presence on sites like LinkedIn. By networking with entrepreneurs, sharing your company’s ideas, and winning, you can increase your visibility and attract prospects.

8. Consider consulting or freelancing: Start freelancing or consulting and start building your portfolio to gain experience. Focusing on your business ideas can also provide you with a steady income.

9. Take advantage of academic resources: Take advantage of the resources your MBA programme offers, including alumni networking, startup incubators, and entrepreneurship services. These resources can provide useful relationships and support.

10. Stay alert and energetic: This last point remains one of the most important pieces of advice. It will help you to grow professionally. Being an entrepreneur is hard and takes patience. Stay strong, learn from your mistakes and keep working towards your goals and purposes. Flexibility and stability will be critical to your success.

Career Options & Salary Range

There are various career options available after completing an online MBA in Entrepreneurship. You can check out salaries, job roles and their description below.

1. Product Manager:  As a product manager, you will manage product development and its management. Your role will include market research, product development, and collaboration with cross-functional teams to ensure the product meets customer desires and business goals.

2. Business Development Manager: Identifying and pursuing new business opportunities is the primary responsibility of the business development manager. Some part of your duties are connecting with potential partners, closing deals, and developing plans to increase the company’s market share.

3. Startup Founder: The startup culture is booming today, and if you have a passion for startups, an online MBA in Entrepreneurship is a great option. After becoming the founder of a startup you will see new details, concepts, and processes for implementing them. Moreover, you can assemble a team, secure capital, and plan for expansion.

4. Venture Capital Analyst: As a venture capital analyst, you will evaluate and analyse new venture capital investment prospects. As part of your job, you analyse business models, conduct due diligence, and provide insights to help institutional investors make investment decisions.

5. Innovation Manager: As the innovation manager, you will be responsible for leading the development of new products, services, or processes. In addition, you will work with teams to identify creative ideas and new possibilities for the company’s growth.

6. Small Business Consultant: As a small business consultant, you will support small businesses in their growth. You can guide them with new ideas and processes that will help them to achieve their business targets.

Also Read: Exciting Career Options After an Entrepreneurship MBA

The table below shows an average range of salaries that a professional can earn after completing an online MBA in Entrepreneurship. The salary range depends upon the level of expertise and experience. You can look at the salaries for your reference.

Source: Glassdoor

*- the salaries listed above may vary depending on location, organisation, and level of experience.

Summing Up

Starting an online MBA programme in Entrepreneurship is a great step toward your career goals. It is a great option for aspiring entrepreneurs because of its flexibility, breadth of coursework, networking possibilities, and potential for career advancement. By taking this approach, you are investing in yourself and your future, putting yourself in a successful position in the dynamic corporate world. Take a chance and start your journey to be a thriving entrepreneur now!

FAQs

Q1. What are the benefits of an Online MBA in Entrepreneurship?

If you enrol for an online MBA in Entrepreneurship then you can learn how to begin and grow your business. Start your own business from any location by gaining flexibility, useful skills, and networking possibilities.

Q2. How long does it take to complete an Online MBA in Entrepreneurship?

It usually takes 1.5 to 3 years to complete the course, depending on how quickly you work and how the curriculum is set up.

Q3. What career opportunities are available after completing an online MBA in Entrepreneurship?

Some career opportunities after completing an MBA in Entrepreneurship are product manager, business development manager, startup founder, venture capital analyst, innovation manager, and small business consultant.

Q4. What is the average salary after completing an online MBA in Entrepreneurship?

An average starting salary is expected to be between INR 7 lakh and INR 12 lakh*. However, the salary increases after you have experience in the relevant field.

Q5. Are there any prerequisites for enrolling in an Online MBA in Entrepreneurship?

A bachelor’s degree is required, ideally in statistics, accounting, or business. Work experience may also be necessary for some programmes and it depends on the college’s requirements.

Q6. What subjects are covered in an Online MBA in Entrepreneurship?

Subjects covered in an online MBA in Entrepreneurship are the development of business plans, marketing, finance, accounting, new venture management, and small business law. There are also choices of electives that you need to consider while pursuing the course.

Q7. How does an Online MBA in Entrepreneurship differ from a traditional MBA?

A traditional MBA programme may have a more comprehensive business curriculum, but an online MBA programme offers greater flexibility and frequently places an emphasis on innovation and useful entrepreneurship skills.

Q8. What are the admission requirements for an Online MBA in Entrepreneurship?

Admission requirements for an online MBA in Entrepreneurship are a bachelor’s degree, letters of recommendation, a statement of purpose, and job experience (desirable) and CAT/MAT results. However, work experience, letters of recommendation, and a statement of purpose are not mandatory. It depends upon the selected college.

Q9. Can I pursue an Online MBA in Entrepreneurship while working full-time?

Yes, you may combine your studies with a full-time job because nowadays. There are many colleges that offer online degrees equivalent to regular degrees so that you don’t have to go to college and can complete your course in online mode.