How an MBA Can Elevate Your Business Plan with Strategy, Skills, and Insight

Working with an MBA can significantly enhance your ability to write a better business plan by providing you with a solid foundation in business principles, strategic thinking, and analytical skills. Here are some ways an MBA can help you improve your business plan writing:

• Understanding of Business Models:  A Business Model is a company’s plan for making a profit. An MBA helps you grasp the different business models and how they operate, which is crucial for understanding your business model and its unique selling proposition (USP).

Top 10 Business Models:

• Retailer

• Manufacturer

• Fee-for-Service

• Subscription

• Freemium

• Bundling

• Marketplace

• Affiliate

• Franchise

• Brokerage

• Financial Modeling: MBA training provides financial modeling skills, allowing creation of realistic and conservative financial projections, which are essential for a well-rounded business plan. The objective of financial modeling is to combine accounting, finance, and business metrics to create a forecast of a company’s future results. Using a spreadsheet, the top three financial statements are prepared: an income statement, balance sheet, and cash flow statement.

• Market Analysis: An MBA will provide you with the knowledge to conduct thorough market analysis, including understanding industry trends, competitive landscape, and target demographics. Do you know the answers to these questions about YOUR business? An MBA will!

• What is the total addressable market (TAM) for my product?

• What are the current trends affecting my industry?

• Who are my main competitors, and what are their strengths and 

• weaknesses?

• What are the demographics of my target audience?

• What pain points does my product address for customers?

• How do customers perceive my brand compared to competitors?

• What factors influence customer purchasing decisions in my market?

• What marketing channels are most effective for reaching my audience?

• What is the expected growth rate of my market over the next few years?

• What external factors (economic, social, technological) could impact my market?

• Strategic Frameworks: An MBA can help you to learn HOW to apply strategic frameworks like PESTEL analysis to identify regulatory risks and competitors, which are vital for a comprehensive business plan.

• Credibility and Trust: An MBA can improve your credibility and trustworthiness as an entrepreneur, which is crucial for attracting investors and stakeholders.

• Trust attracts and secures funding and investment. Investors are more likely to invest in entrepreneurs who they trust and believe in. Trust can also help entrepreneurs negotiate better terms and conditions, and access more resources and opportunities. For example, a study by Harvard Business review found that trust was the most important factor in determining the success of angel investments, and that investors who trusted the entrepreneurs they backed were more likely to provide mentoring, coaching, and introductions.