Do to-be entrepreneurs even need to do an MBA?
It’s a well-established fact that an MBA from any of the top 15 B-School can assure one a lucrative job but what if one always planned to undertake entrepreneurship right after his/her MBA? Is it worth to splurge lacs of money on this course for them in terms of the learning they acquire and the network that they build during the course of these 2 years?
The MBA course is no longer conducive for to-be entrepreneurs. The EMI burden is significant and there is always mental pressure with the presence of that and it has an impact on your risk taking ability. Many IIMs have placement holidays and deferred placement options. I haven’t yet heard of too many success stories out of these. It is not a critic of the policy, it’s just that maybe if you are sure you want to start a company, MBA could be avoided.
I am an MBA and I run my own company – doing it for almost 5 years now. The big benefit of an MBA for me in my business is the network. I can pick up the phone and reach people in influential places because of the network. There are lessons from a few professors that I always remember too. The one thing in favour of doing an MBA and still starting up is the availability of capital. Seed funding and angel money is far easier to get today as compared to even 4 years back.
But I would still say that if you have clarity about your business – avoid MBA and just start-up.
I’m an MBA and entrepreneur. Bootstrapped And we have been profitable for the last 3 years.
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