Would an MBA better prepare me to start a business?
I have been debating about whether to go to business school or just start my own business. I am wondering if business school is worth the time and money. I know I would make great connections and probably learn a lot, but how much would it really help?
A professional degree is always helpful to gain knowledge and grow future but having a real-time experience adds much more to your work. If you are interested to start a business and new to it and thinking about where to begin, you should consider a franchising option. Almost all business programs offer franchising as a focus area to study in.
As a general rule, there's nothing wrong with more knowledge.
It's been said a few times here in different ways here; an MBA does not correlate with being a successful Entrepreneur. An MBA will help you move up in a larger company (think McKinsey or Accenture), but it's not going to help you too much with a start-up.
My question to anyone contemplating starting a company is based on who you are. You must be completely self-aware, and you must be naturally wired for the role in addition to having specific knowledge for what you're doing. This is far more significant to your success at a small business than any amount of additional education you could receive.
I've profiled and interviewed dozens of small business owners over the years, and with few exceptions, there is a very distinct pattern that successful entrepreneurs have.
Many MBA graduates are still jobless but having a professional degree in business certainly helps. Having a degree from top colleges would certainly help better.
An MBA is a higher qualification. You get to learn the right skills, gain knowledge and build your network. This may help you to start a business. You can try ITM institute it offers executive MBA in different fields. The executive MBAs are designed for the working professionals and offer specialized knowledge.
Many young entrepreneurs have ideas but lack the skills required to start a new venture. You may opt for an Executive MBA course from any reputed institute like the ITM Institute. This will help you fine-tune skills that are necessary for business. It will also add weight to your resume.
Good question! I love to share my opinion on this. According to my experience it is important to have an MBA but that being said, it does not necessarily means that it is the only key for success. Many successful people did their MBA after becoming a milliner or even billionaire. Bill Gates is one of the examples. Now i see so many other people in my network who is earning handsome amount of money every month but does not have an MBA. So briefly speaking an MBA might not make you rich but practical experience and how you use your knowledge definitely can make most successful person in life. I hope thats answer the question.
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I don't think it would. You should write down why you are considering it. You will learn much more by just doing, and save a lot of money. Business school does provide a great education and, in my opinion, more valuable contacts, but you can get all this and more through the school of hard knocks. Good luck.
Having an MBA broadens your thinking.. You can hire few people less if you can do their job :) .. But frankly Starting a Business and to have an MBA has no co-relation .. Before you start a business i would suggest a stint with someone in the following areas.. Sales, Marketing, Finance.. these 3 fields are very critical for any business.. You grow the company and let the MBA's manage it for you by designing process, flowchart, ppt, projection, market share etc etc.. Do note the Best Businesses have been built by their initial customers so take care of them
Best advise I have for you is no, ask yourself this question, "Do I want to learn from a successful billionaire or a college professor?" People like Donald Trump and Robert Kiyosaki have written some awesome books that I think you will get more knowledge than from any school.