How an MBA Will Help You Build a Better Business

Where should you look first to acquire funding for your startup? What strategies will you employ to grow your business? How will you manage cash flow problems? Why should your audience pay attention to your business? When should you act, and when shouldn’t you?

Business is full of questions, and entrepreneurs are expected to have the right answers if they are aiming for growth and success. Yet, plenty of business leaders don’t even know which questions to ask, let alone what answers are correct.

MBA programs teach aspiring entrepreneurs how to build businesses the right way and provide solutions and skills that they will need in their coming careers. For the following three basic reasons, you do need an MBA to succeed in building a better business.

Cash is King (Not)! Small Business Owners – Accept Credit Cards or Wither

When it comes to transacting with customers cash is becoming less and less popular every day. It has come to a point when many people don’t even carry any cash in their wallet, if they carry a wallet at all! According to Gallup poll only 24% of US population is using cash for all or most of their purchases. This is down from 36% only five years ago. If this trend continues it will not be surprising if the federal government starts phasing out some of the cash all together! Few months ago India took a controversial step of banning large currency and instead encouraged the use of credit card and mobile payments for all transactions.



Small business owners who do not facilitate the use of credit card as a method of payment stand to lose customers. While it is true that it costs more for small businesses to accept credit card when accounting for the transaction fees they have to pay to credit card processing companies when you consider the negative impact of not accepting credit cards in the form of lost business it would be ill-advised not to pay this transaction fee. Just consider it as a cost of doing business. The alternative can be even worse!