6 Reasons Why Tech Startups are Still In Need of MBAs

Business man reading the paper

Throughout my career people keep asking what do tech/marketing companies look for when hiring. The employee base is getting competitive out in the market today. Here are things we look for in positions here at ‘corePHP’.

Most startups, including tech ones, can benefit greatly from either employing an MBA graduate or from the business owner/s getting their own MBA. Here are six reasons why it’s important for tech startups to have an MBA.

1. Startups Financial Management

Having an MBA is a great way to truly understand the financial aspects of any business, from evaluating investment opportunities, to gauging whether a new product or service will be financially viable into the future.

These are the major financial decisions that business owners face on a regular basis, and making the correct decisions can determine whether the business is profitable or will have trouble making ends meet.

Anyone who has studied for an online MBA degree is suitably qualified as a financial expert to be able to make these decisions successfully, and with care.

2. Human Resource Management

For a startup, it’s important to hire the right employees for the business to grow and flourish. A tech startup business needs suitably qualified employees who can get the various aspects of the job done correctly and in a timely manner, and who care about the future growth of the business.

A person with an AACSB online MBA will know exactly how to hire and retain valuable employees to ensure the longevity of the business.

3. Marketing

No-one can run a successful tech startup without some marketing knowledge. Tech companies are usually started by people who have a lot of tech knowledge and are experts in their field, but these people often lack the necessary marketing skills to take the business to the next level.

Hiring an MBA graduate who is specially trained in marketing means the business owners can focus on the tech stuff and let the marketing experts work on effective advertising campaigns, which will bring in new customers and even build brand awareness.

4. Growth

A new tech startup may only start with 3-10 people, but as the business grows more staff will be needed to cope with the extra workload. A qualified MBA graduate is an expert in organizational hierarchies and how to craft well-defined company policies and procedures. This will ensure that as the company grows it is protected from any unforeseen obstacles by having the procedures in place to deal with any problems that may develop.

5. Networking

For a business to grow successfully, its staff or owners need to know how to network effectively to gain new contacts and possible customers. MBA students are trained how to effectively build and expand their own professional networks. This kind of experience is invaluable to a startup because the MBA graduate will already have a network of influential professionals who can assist the new business in a variety of ways.

6. Customer Service

Great customer service is vitally important to a new startup. Without happy customers the business cannot grow. Plus a happy customer will be more inclined to refer others to the business, making for very effective word-of-mouth marketing.

MBA graduates have an in-depth knowledge of consumer psychology and understand effective customer communication. They will be able to guide the business owners in the correct training methods for their customer support staff so that every customer is made to feel important and valued.

These six reasons are why any new tech startup will benefit enormously from having an MBA graduate on their staff. Look forward to watching you grow!


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