The MBA Entrepreneur – Your Idea, Your Business
Entrepreneurship in this day and age is the catalyst for Innovation. Elon Musk is an example of prodigy who required no Education to succeed with his mind-boggling ventures. There are success stories in the past like Mark Zuckerberg and Bill Gates who own the biggest corporate and yet hire MBA personnel if needed as well. MBA founded talents who have earmarked change are often less heard of and yet there are few who brought laurels. Holding an MBA can be stereotyped as doing more harm than good in the entrepreneurial circles.
The Business school requires sacrifice and the opportunity cost of getting less work experience and the potential significant debt invoked by MBA. The risk appetite thus remarkably falls as the students are offered a safe and well-paid job. The irony is that often the students are themselves profiled and different psychometric tests are done to highlight their characteristics like risk-taking abilities while living in comfort zone.
Entrepreneurship is offered as a course in manycollegese and even in IMT Ghaziabad. Similarly, the versatility will be tested when any specialized student be it in Marketing, Finance or HR, embarks on this journey of Opportunities and Challenges. The collusion of different ideas in MBA can, however, hold the entrepreneurs in good step along with the case studies and framework imbibed to approach situations. Incubators are present in many colleges yet groundbreaking ideas and funding is often a problem.
The network and brand of a good business school give easier access to acquiring some of the most important ingredients for any new company, including capital and talent. Our classmates could often be the best collaborators available, due to our personal knowledge of their talents and our relationships with them. Ideas are often embarked upon in a creative space of knowledge and reflection. Business school provides an ideal environment to test ideas – and fail with less-harsh consequences. Over time, this type of learning helps entrepreneurs hone their decision-making capabilities and build confidence.“You have not only come this far to only come this far”, so then the only thing that is limiting your decisions is you.
Entrepreneurs are often like gamblers playing cards close to their chests and taking risks. Minimizing the risks and enhancing the prospect of success is a quintessential lesson even while playing out of hand. The detailed,well-informed individual gets a better chance of survival and the experience in the industry takes you further. The ability to be unafraid of the consequences as there is no successful entrepreneur that can get to the top of the business world without taking a risk. Fighting Bankruptcy is a privilege and passage for the majority of the entrepreneurs, however not an invitation to pursue the experimental approach.
The question arises whether to risk the safe life or establish the safety of the risks.“Why join the Navy, If u can be a Pirate”. I would suggest being opportunistic enough to realize the loopholes in Navy first so that you can be a pirate of the oceans when the need arises as you already acclimatized with the seas!!