Master programs do provide a useful toolkit, but they are better suited for established businesses than rapid-growth startups. The go-to resource that has prepared tomorrow’s business leaders for the management of businesses has been the Master Program. Yet, a recent report from the Financial Times shows that over the past two years Master Program Certification have cooled on entrepreneurship.
While there are many benefits to pursuing an Master Program, this path also comes at a major cost; tuition as well as opportunity cost can weight heavy on an entrepreneur’s wallet. The good news is that today, there are options that provide equally as much value at less of a financial hit.
Another essential ingredient of Master Programs is the use of standardized tools and frameworks like the Five Forces model or SWOT analysis. While these are helpful to a certain extent, the problem is that they do not inspire original thinking. Standardized tools do not encourage the launch of original products and business models in crowded marketplaces. In contrast, it’s more often than not multidisciplinary thinking and a broad perspective, which lead to outstanding products and business models.
Create an action plan.
While the Master Program certainly offers value, it is not well-suited for those looking to the startups and growth companies of today. Rather, entrepreneurs now have the opportunity to develop their skills and networks by tapping into alternative resources that come at a lower cost.
For those who want to build their skills through alternative means, the first step is to look at the hiring boards of businesses in the industry you are active in and create aninventory of requirements. This can be followed by a personal development day. That day would be used to go through available resources such as courses and meetups in order to design a path to unleashing the skill set that best fits the requirements from step one. It’s best not to go this path alone, and industry-specific social media groups and forums are a good way to find like-minded
Pursuing an Master Program gives you an ability that is too often ignored – the ability to ask for something on the grounds that you “are an Master Program student.” You can more easily get informational interviews, obtain data, attend conferences, and open more doors than when you are in the professional world with ulterior motives assumed based on your job title and company. Use this freedom to explore new opportunities, meet new leaders, and figure out what it really is you want to do.

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