kryzak wrote:
- greater network/connections in B-school
- learn the foundations of how a business should be run, so you don't have to learn from your mistakes (or startups folding)
- speed up the learning process
- increase the possibility of success
- I've seen too many startups run by people with no knowledge of finance or the technical stuff that keeps a company afloat. B-school can help you avoid that.
wow, I just answered my own question.... now don't all go copying my answer now
hee hee hee (j/k)
But seriously, this site is awesome because I have writers block when I'm sitting in front of my Word document, but when I try to answer questions, I come up with good brainstorming stuff!
- learn the foundations of how a business should be run, so you don't have to learn from your mistakes (or startups folding)
Mistakes are unavoidable. And B/school isn't exhaustive. You may learn the general foundations, but every company differs.
- increase the possibility of success
Are there statistics on this?
- I've seen too many startups run by people with no knowledge of finance or the technical stuff that keeps a company afloat. B-school can help you avoid that.
Honestly speaking, this is definitely questionable. I've seen many companies and entrepreneurs start without any business knowledge. Bring in a partner with some understanding, or learn it on your own. Is it worth paying the 100k just to learn the basics of accounting and finance so you can run your own company? You would be better off paying 10k to the accountant and sitting next to him with a list of questions.
I'm not questioning the value of an MBA, I'm just wondering, if you're truly an entrepreneur, would you only be capable of running your own gig with an MBA? I would think if you're an entrepreneur, you would be running your own thing without an MBA. 2 years is time to build a business, and with the internet, information is everywhere. Not to mention that the 100k would be able to bring you far. Yes, it may be harder, but a 2 year advantage is huge.
What happens to the million of chinese entrepreneurs without an MBA, just a bicycle and some chickens to sell? What happens to the mom & pop shops? Or are we only looking at entrepreneurship in the sense of let's have a big idea, incorporate a company, have revenues of 100 million and sell out to google? I think that entrepreneurship doesn't have to be big, it can be small and successful too.
Point, I know a guy who started a business with just one plastic molding machine. 20 years later, he sold out for 15 million euros.... no MBA.. just technical knowledge of how to work the machine. Maybe entrepreneurship in the west is very different.
Maybe if you're going to select entrepreneurship, you could talk more about decision making than actually wanting to start you own business?
I don't know, maybe I'm babbling
heh