Planning to do an MBA? Here are 5 things you MIGHT NOT THINK before you start

Congratulations! It is great you decided to do an MBA. But did you know doing an MBA while working is not a piece of cake as you thought? No I'm serious. Its not easy. If you have a plan to get good grades and maybe to become the top of the batch, you need to be good in time management and commitment. Master of Business Administration is not a mere qualification but as a mature professional you learn the business theories, terminology and business dynamics. 

I'm sure you might have checked out your options. Go abroad or stay in your local country or do it online / distance learning and pursue one (or if you want me to write what you need to consider when selecting an MBA, let me know in the comment section below.  Happy to help out). 

My MBA Journey 

I wanted to do an MBA since I was in my 3rd year at NIBM. My dream was to gain a Stanford MBA. Did my GMAT, filled my forms and applied. Guess what? overseas scholarships only gave me 50% | 75% and even rest of 50% |25% yes its way away from my budget grade. If you have money, if you love getting an insane amount of exposure and learning, choose Stanford. Its just AWESOME! 

I started my MBA at ICBT (A prominent building you see in down Duplication Road, Sri Lanka) on 1st April 2017.  

Four months down the line, I felt like writing this blog post to help you to think 5 things I should have thought about before starting an MBA. 

My MBA Team - Lucky 7

1. Institute might give you a favorable discount  

Some institutes or universities might give you an early bird discount or if you from a certain company or a group joining in, institute might give you a concession. Once you select an institute or university don'f forget to check it out. 

2. Entrance Exam?

Entrance exam for MBA programs in most of the foreign universities is GMAT. Most of the affiliated universities / colleges do not require GMAT. Some universities / institutes will have their own version of GMAT, Example, Postgraduate Institute of Management, Sri Lanka. My point here is not suggesting you to prep early (If its GMAT, you should start prepping 3 months prior with incremental baby steps). Intention of GMAT or any other entrance is to select the best from the lot. But there can be best folks in managing and running businesses whom might not be able to answer these questions successfully or best answers come in their own language. Suggestion is, if you are really confident about the entrance exam, take it or else find an university or institute which doesn't require one (They might want you to have prior qualifications and experience). 

3. Do you really want an MBA?  

Common reasons for executives to pursue an MBA is that to advance in your career / change your career, to gain a paper qualification, gain entry to migrate or maybe you want to be known to be a person with an MBA. If you are planning to get a MBA only for those three letters and no intention to grasp the knowledge it can give you? Dont do it. I have met executives, who has an MBA and make people think how did he/she really get an MBA and executives showcase the MBA education in practice.  

There are some personnel whom doesnt want to have an MBA. They know what they are doing, handle situations swiftly and versatile enough to deal with new business dynamics. If you are such a person, there is nothing much new MBA can teach you than a few terminology. 

MBA's are there for you to learn, apply and make an impact in the business world and there is a difference between bachelors and a masters. MBA is there for you to take control. 

4. You might feel like quitting. But Dont! 

Personally I have felt several times I should quit. That's human nature. Love to be in the comfort zone. All these can be due to silly reasons (Eg - Oh Shoot, I dont understand Accounting, I should quit :P). What ever that is, you have jumped in because you thought its the right time to do an MBA and you had reason to start it. In my batch, there were many members who have stopped the MBA even its still 4 months. If you feel like quitting, step a little back. If its nothing major. Dont quit! 

5. You will not have control over people who join your batch 

Fingers in our hand is not similar because of a reason. So is people in a batch is not the same. They come from different backgrounds, different mindsets and different environments. Everyone you meet is a learning opportunity for you. When you smile at a person and he/she doesnt smile back at you is a learning for you. Learning is that you need to be pleasant and polite to others. Or when you meet a "Wanna Be" the learning is to be humble. All these men and women are there for a reason and they might be able to share their experiences with you. Get ready to open your learning mindset. 

Apart from these 5 things you also might want to consider if its possible for you to continually pay the fees since most of you will go for an installment plan, late night group discussions, ready to contribute to group assignments on time, are you willing to become a responsible group / batch lead, if you can communicate in advance, will you have time to prepare for exams and assignments, some friends to sign on behalf of you (on some days ;))...etc. 

These are some of the leanings I had and wanted to share with you. You might have different experiences and view points. Dont forget to share your thoughts in the comment section below or maybe if you have any questions, let me know. Happy to help. 

 If you think this post can help a friend who can be benefited, dont forget to share with him/ her :) 

All green lights and all the very best for your MBA ✌