dreamcatcher wrote:
Hi all,
I am in a sort of dilemma right now (good one). Was accepted to both, MIT & INSEAD, and am looking for an entrepreneurship career Post-MBA. I'm near 30's, from an emerging market (in America), and will probably start a CGP company (still thinking) after my MBA.
My research tells me that both schools offer good entrepreneurship focus. My estimated cost w expenses are INSEAD: $125 K USD, MIT: $190 K USD (inc. partner). I can expect to reduce 20% of the cost of each of them w scholarships or by participating in the TA program (MIT).
From INSEAD I expect to obtain a richer network, a more global experience (which I like), a lower cost (and opportunity cost), entrepreneurship and business plan "coaching".
From MIT I would expect to get a more focused entrepreneurship track (2 years, more time for planning, etc.), a better manufacturing and techie experience (love it), a prestigious school name that can open doors w customers and suppliers, and a school that is closer to the market I will focus on.
On the other hand, I am being presented the opportunity to lead a business, which would postpone (maybe cancel) my MBA plans.
My logic says "No MBA if you want to be an entrepreneur, you will carry a financial burden that might delay your intentions", my heart says "do it now or you will never have that 1-2 year experience to refocus and plan". If graduated from an MBA, I would earn maybe $55 K p year at the beginning (entrepreneur), and would have to spend nearly $15 K p year to pay off my MBA loans.
I guess there might not be many entrepreneurship focused readers, but if there are, I could appreciate your opinions and points of view. I guess the question also applies to "One Year vs Two Years MBA for Entrepreneurs"
Lead "a business" or lead your business? Also, depends on the business. Depending on the business and industry, suppliers and customers could care or less about your degree. However, in certain industries some customers may care. B-School can help your business get started and provide the right contacts for financing, but, again, depends on the business. If you have a great idea for a business capitalize on it now. However, if you are doing something that is not that extraordinary then go to b-school. In other words, only forgo an MBA if you have a worthwhile business or business opportunity.