Commencing an MBA is a long journey considering the realities of juggling family, work, and other commitments – which can be challenging.
A common joke exists about an MBA being ‘yoked i.e., married, but absent’. Any sound MBA program is typically fast and intensive and like a lot of life-changing journeys, this educational experience is no different.
Below are 4 things I wish I had known before commencing this learning process.
1. Understand the commitment you are about to make – make sure interested parties understand this and support you.
I was not sure of how deep the commitment would be once I commenced this MBA program, but mid-way through the first intensive week, It was clear that this would require more than just a casual approach but one needing a lot of encouragement, lifestyle, and mental re-adjustments.
To do well and absorb the contents of the course ensure that you surround yourself with supportive people. This journey would require more discipline in managing ones time, money, and other non-financial resources while balancing other commitments across every area of your life.
It is also important to obtain employers’ support alongside that of your family. Let your organization know the realities that come with commencing this sort of program and adjust your management of work demands within your unit. Also solicit for financial and other non-financial support from your company i.e., more remote workdays, and so on.
2. Prior fundamental literacy and command of basic finance and corporate accounting.
I had initially desired to enroll in a mini-MBA program with several schools such as Rotman MBA Essentials, IBMI (International Business Management Institute) Mini MBA, London School of Business and Finance Mini–MBA, and so on. Without any doubt, meeting financial accounting lecturers and concepts scared me a lot especially when tests were to occur, or assignments were given. Searching and completing online courses such as CFI’s (Chartered Financial Institute) FMVA (Financial Modelling and Valuation Analyst) free beginner courses e.g., excel and VBA basics, financial accounting basics, and free YouTube courses online should not be taken for granted.
Business performance cannot be largely examined without assessing financial and accounting performance. Doing the above courses reduces the anxiety and struggle that comes with being unaware, reducing the speed at which you would need to play catch up on knowledge gaps during the course.
3. Counsel and advice.
The Bible says that ”in the multitude of counsel there is safety, but fools despise knowledge and wisdom.” Before commencing the MBA program, or any other MBA program, advice must be obtained from previous MBA students and current MBA students of your intended school. This allows you to have a feel of the nature of the program, teaching methodologies, pace, challenges faced by alumni and current students, and how they overcame identified challenges. Aligning expectations of the MBA program with the reality of the program (once you join) helps you better prepare proactively, than those that know not.
4. There is value in waiting to get your MBA degree.
Typically, it is said that ‘patience is a virtue’. There is value in waiting to commence your MBA program while you build up your professional certification base and experience (especially in areas that you may meet in your MBA i.e., finance, accounting, etc.,). Prior formal and informal learning in accounting courses, finance, and sales, keeps you ahead of the class.
For persons in my class who were more experienced, I could see how easy it was for them to translate learnings on the MEMBA (Modular Executive MBA) program to real-life situations they were dealing with at work and how the class learnings could be applied to workplace situations unique to them.
It is important to also note that real-world business experiences bring value to the MBA program, and your voice matters, hence feel free to contribute effectively to aid learning for all.
I have learned over the years with decision making for major transitions of this nature demands one to be calm, to understand where one is in life, timing, personal and professional development goals, what value the MBA program would bring to you, preferred learning styles (remote or physical) in addition to adequate financial planning and other required support.
Also being patient to understand the perks of the institution offering these programs, what makes one unique over the other, and the basis for your convictions to get on the program and school all require a great deal of self-discipline, patience, and self-awareness.
The above points listed serve to guide prospective MBA students in self and institutional discovery on what it takes to commence an MBA from a prestigious institution.
Stay tuned for part 2 of this series.
#MEMBA 12
