Maximise the value of your Master's: Exploring your Entrepreneurial Potential
Postgraduate Study: Advice from the Experts
Why do people study for a Master's degree? Some look forward to studying their preferred subject in more depth, and gaining further recognition of their academic abilities through a Master or PhD degree. Others relish the challenge and freedom of independent study and research.
There can be the lure of using top rate technical facilities and equipment, extended career opportunities abroad, and preparation for a varied professional future. Registration for a Masters course usually opens up a wealth of additional support: experienced academic supervisors, high level computing services and specialist libraries, professional advice on protecting and managing intellectual property and sources of funding. Many students miss out through not knowing about or fully utilising these resources.
However the skills in research, analysis and communication that you will hone through your postgraduate studies can have a wider application. For example, one in three students thinks at some stage about setting up their own business venture.
Go to an Entrepreneurs' launch event and you'll often find it took eight to ten years from idea to launch. But you needn't wait till you've gained your next degree. While your academic drive will lead you to delve into your subject, whether in International Politics, Electronic Engineering or Molecular Immunology, it may also spark off other ideas, and you may have other abilities which you can apply to a commercial enterprise in parallel. And the University environment, whilst you are doing your Masters, can be one of the most useful and supportive environments in which to explore these ideas and develop your skills.
(It should be said that if a prime motivation for your postgrad sign-up is to postpone going into full-time employment, or avoid making life choices, then maybe the entrepreneurial path is not for you!)
How can you make a start? Know yourself - because your unique background, experience and skills provide the distinctive edge for your business. Work with your strengths, whether in fund-raising, convincing people or spotting gaps in the market. Linus Pauling, who won two Nobel Prizes for Chemistry, said that the way to have good ideas is to have lots of ideas. If you practice coming up with lots of ideas, some of them will turn out to be great ones. Furthermore, you might meet fellow students with similar aspirations.
And cover for your weaknesses. Setting up a company is a lonely road, so build up your social and professional networks. Is finance your downfall? - Find a good bookkeeper. Don't know your Intellectual Property rights and responsibilities? - Speak with an expert in your University office. Not got enough time? Switch off the TV!
Many UK universities provide entrepreneurship support programmes for their students, offering accredited modules on entrepreneurship, extra coaching, an advice centre and incentive competitions. You should be able to review these opportunities on the University web-site, and they might sway your choice of institution. If you are studying with a definite idea of turning your knowledge and expertise into a business success at some point, you might also want to investigate whether your chosen institution provides support for students setting up new businesses, for example through subsidised 'incubation' space, as an increasing number now do.
Whether or not they lead you to build a profitable company, the confidence and skills you acquire and develop can be a valuable adjunct to your reading, research and writing up, and could boost your future career.
Janice Cullen
October 2006
Links
- http://www.ent-exchange.co.uk/ at the University of Durham
- http://www.jeremy-henderson.co.uk/MBA/entrep-uni.html
What percentage of a business do you typically have to give to an investor funding a business idea?
yeah its really nice to see this much of ideas.actually we have to think more about this.since the decision would depend for your final result for sure.
and, if we're a bit cynical about it, we also know that many people pursue an advanced degree not necessarily for the future economic/career benefits it will bring, but because they don't want to give up university life quite yet - a perfectly understandable motivation. i've considered going back to school myself for the same reason.
Indeed it is so true that many of the skills necessary for success in post-graduate study are fundamental in entrepreneurialism. That's not to say that every academic should be considering setting up their own businesses. But applying the study skills gained in postgraduate research to the development of a business idea can be very fruitful.
PG is one of the best degrees that a person should have in his carrer. while studying your prime objective should be to scroe high grades. Never forget that its one of the courses that plays a importnat factor in your life style. If you are choosing the right choice of subject you have the right course for your life. IF you are looking to gain knowledge with business, or as anything its one of the courses that helps you a lot.
Its also good to get your masters. this will definitely help you in your career.
I agree that a masters program with internship is a great way to learn how to set up, run, and maintain one's own business. Just make sure that the field matches your interest.
This is one of the famous university and very pleased to share these functions.
they lead you to build a profitable company, the confidence and skills you acquire and develop can be a valuable adjunct to your reading, research and writing up, and could boost your future career.
However the skills in research, analysis and communication that you will hone through your postgraduate studies can have a wider application. For example, one in three students thinks at some stage about setting up their own business venture.
It may also spark off other ideas, and you may have other abilities which you can apply to a commercial enterprise in parallel. And the University environment, whilst you are doing your Masters, can be one of the most useful and supportive environments.
A masters degree is a very important degree reflecting your academic background and your level of academic knowledge. Today with and MBA in marketing or finance you can get a job in your selected field of specialization.
Andre
There can be the lure of using top rate technical facilities and equipment, extended career opportunities abroad, and preparation for a varied professional future
Extremely well said Janice, people either want masters degree to enhance what they already know in academic terms or for further research in an area of their interest. Higher studies helps you understand things better from a larger perspective instead of a local view, you can start thinking bigger and with a better understanding. At curso de ingles you will find help to improve not just your language skills but even business skills and office skills.
Douglas.
These good ideas mentioned is to have lots of ideas. If you practice coming up with lots of ideas, some of them will turn out to be great ones. Furthermore, you might meet fellow students with similar aspirations.
I study Master program to have depth knowledge about some subjects. Also, I believe that the knowledge always move forward, so I need to move forward and broaden mine too. I just can't do, and don't do anything else. I will left behind far far away if I did it.
It’s hard to find knowledgeable people on this topic, high interest savings account but you sound like you know what you’re talking about! Thanks
an Entrepreneurs' launch academia within the field of entrepreneurism is greatly received - there's a misunderstood notion it seems that the two are mutually exclusive. Personally I think they bring great benefits to one another.
Linus Pauling, who won two Nobel Prizes for Chemistry, said that the way to have good ideas is to have lots of ideas.
Linus Pauling, who won two Nobel Prizes for Chemistry, said that the way to have good ideas is to have lots of ideas. If you practice coming up with lots of ideas, some of them will turn out to be great ones. Furthermore, you might meet fellow students with similar aspirations.
It is very inspirative article. But, pretty hard to apply, actually. It opened my mind more widely, about why I want to continue my study more deeply, and taking Master/PhD degree. Until now, I always wait and wait. I think I must start right away, or I lose my chance of it. Thanks for the advice in here. Even you don't write about it directly but I get that point from reading this one.
If you are studying with a definite idea of turning your knowledge and expertise into a business success at some point, you might also want to investigate whether your chosen institution provides support for students.
nice article Entrepreneurs' launch event and you'll often find it took eight to ten years from idea to launch. But you needn't wait till you've gained your next degree thanks for sharing
There can be the lure of using top rate technical facilities and equipment, extended career opportunities abroad, and preparation for a varied professional future.
Many UK universities provide entrepreneurship support programmes for their students, offering accredited modules on entrepreneurship, extra coaching, an advice centre and incentive competitions.
I just wonder what Esther Koplowitz going to say about his article. Esther Koplowitz has steered FCC strategy to make the company more diversified and international.
And cover for your weaknesses. Setting up a company is a lonely road, so build up your social and professional networks. Is finance your downfall? - Find a good bookkeeper.
Anything that can expand academia within the field of entrepreneurism is greatly received - there's a misunderstood notion it seems that the two are mutually exclusive. Personally I think they bring great benefits to one another.
It's important students realise that setting up their own businesses is a genuine career option. Many simply don't see themselves as 'entrepreneurial' but i have found that if you give someone the right support and the right tools the confidence comes naturally. One programme run by my centre has launched over 30 successful companies in the last 5 years. It can be done.