Before we dive into the alternatives to an MBA, it’s important to first evaluate why you wanted to do an MBA in the first place.
Many people in mid-career who are at a lost as to what their next steps could be tend to gravitate towards taking an MBA as that’s “the most obvious” option that everyone else is doing.
I personally was at a stage in life where I wanted a change from my career. After 8 years in the luxury industry, I craved something more. Naturally, the first thing I considered was an MBA.
As I started to research on the different types of MBAs, I realized that I didn’t want to do an MBA at all. At least not for the knowledge or accreditation of a Masters in Business Administration.
What I was actually seeking was:
- To grow my professional network and meet high caliber people
- To grow as an individual by learning new skills
- To travel
- To find CoFounders and business partners to start a business with
I also realized that there were many drawbacks of pursuing an MBA that I wasn’t keen on risking, namely:
- High costs
- High time commitment
- Loss of earning potential during time commitment
With these clear goals in mind, and understanding the cons of attending an MBA, here are 3 alternatives to taking an MBA that will still help you accomplish your goals in a shorter amount of time (and for way less money).
1. Take up an internship
An internship is a great way to explore new industries and possibilities. It’s difficult to get your foot into the door when you have no experience. An internship is a low-cost way to opens those doors for you, while allowing you to make some income as you diversify your abilities.
Travel opens your eyes up in so many new ways. When you travel alone, you force yourself to only consider what’s best for yourself. You increase your chances of talking to interesting new people. You start to truly understand your needs and values. You grow.
3. Go for a Workation
If you want to make your travels even more productive, consider going for a workation where you learn new skills or make money while you travel. An example of an organized workation you can join is the CoFounders Retreat, where you pick up skills to start your own business and join a community of driven individuals seeking the same growth as you.
The CoFounders Retreat brings together 30 inspiring people from around the world, put them in a stimulating environment and equip them with the tools to start businesses. Find out more about the CoFounders Retreat and how you can become part of the next tribe of individuals looking to disrupt the world.
Apply for the next CoFounders Retreat.