It’s an age old question: do you get yourself an MBA or take the money you would have spent on studies and launch your own company. Many people study an MBA to further their career however it seems to be a growing trend to get an MBA to help further your entrepreneurial career. There are some great points to consider in terms of benefits:
- You get a great network
- You learn patience and the ability to finish something that many could not manage
- A good entrepreneur should always be learning something new
An MBA should theoretically unlock your entrepreneurial skills as well as advance your knowledge. Ultimately we’re in a world where jobs should be created by business and not government so it’s important to incubate these skills. S0me other great thoughts on the matter:
MBA entreprepreneurs get crucial guidance and support from highly motivated and intelligent people. They also find in their classmates like-minded partners and co-founders who bring much value to a startup, not to mention direct access to serial entrepreneurs who as permanent faculty or executives-in-residence are eager to mentor young people through the process. And finally most schools today have formal programs that often provide seed capital to get a company up and running before you use the school’s alumni network for more capital or customers.
Surveys of MBA graduates show that the vast majority believe their education was vital to the success of their startups. Nine out of ten believe that an MBA helped them lead their companies, grow their businesses and develop their ideas. Some 86% of MBA entrepreneurs feel that their education helped them develop financial projections for their businesses and 81% thought that an MBA helped them write a more compelling business plan.
Personally all I wanted to do when studying was to start a business however going to business school was one of the best choices I’ve made in ages. While I’m no MBA graduate it makes perfect sense to study in order to get ahead of other entrepreneurs in the market.
There are some more points and a longer explanation in the original article available here.