When is the right time for an Optometrist to get an MBA?

Optometrists are professionals who constantly work on improving their knowledge through continuing education. Their hunger for learning drives many of them to pursue parallel degrees. The Master of Business Administration (MBA) is one of the many degrees that Optometrists seek while studying in Optometry school, after graduating, or after many years of practice.

Dr. Cory Hakanen was once interviewed in Vision Expo East on why he chose to study for an MBA. During the interview, he answered a very important question about how an Optometrist knows when to pursue an MBA or a second degree. And his answer was perfect “I think it’s different for everybody”. It is true that everyone experiences a different path in his career, especially now that Optometry has grown to include many specialties and branches in clinics, hospitals, universities, the industry, or policymaking. It is no doubt that an MBA is beneficial in all fields of Optometry. It is beneficial for students, newly graduate students, or optometrists who have been working for a long time.

When I decided that I want to pursue my MBA in 2010 I looked for what other Optometrists thought about it, and I remember reading an article at Optometric Management about how business skills can boost an Optometrist’s professional potential. I still remember reading about two O.Ds who decided to pursue their MBA after taking the time to gain significant experience. Among them was Dr. Neil Gailmard who returned to business school after 20 years of experience in Optometry, and it happened that I have attended some of his lectures during VEE 2009. Dr. Gailmard experienced significant practice growth after he has completed his MBA and implemented what he has learned. I too wasn’t excited about getting an MBA until I acquire significant experience in the field. I also remember that I use to say that I will go into studying for an MBA when I will have a minimum of five to seven years of experience. By the way, at that time five years of experience was the minimum required by business schools in order to apply for an MBA. The importance of experience played an important role because I think that at a postgraduate level you have to contribute knowledge and unless you have significant experience you have very little knowledge to contribute. Moreover, I also believe that answers come to those who already have the questions in their minds. I quote Professor Clayton Christensen from Harvard Business School every day by saying “Questions are places in your mind where answers fit. If you haven’t asked the question, the answer has nowhere to go”.

Every day I am approached by potential MBA and EMBA students, and still advise them the same thing: you have adequate experience why don’t you pursue a business degree? But what I have learned during my long years of studying for an MBA and later for a Doctorate Degree in Business administration is that even though a small percentage of people have an entrepreneurial spirit, entrepreneurship can be learned. And in today’s world, entrepreneurs should be able to capture business opportunities starting at an early age. In order to be able to capture business opportunities, they need to be taught on how to think, see, and, act like an entrepreneur. So when I sit with Optometry students I always encourage them to have a first business model built by the end of their first Optometry year and if possible have their peers comment on it. I also challenge them to perform another one at the end of each year.