Does an MBA degree matter much while you start your own company? Is it the key to your success as an entrepreneur? We have all read or heard about billionaire college dropouts, like Bill Gates, Larry Ellison, Steve Jobs and even Dhirubhai Ambani. Do their stories convince you that you don’t need an MBA degree to be a successful entrepreneur? MBA programs are a rage these days. Entrepreneurship MBA’s are increasingly popular, too. But do they help? If you’re an entrepreneur, you‘ll know the amount of strategic planning and marketing you need to succeed. An entrepreneur’s life is full of trials and tribulations. So, how’s an MBA degree going to help you?
Here’s how :
Helps hone your management skills:
An MBA degree will help you pick up management skills that aren’t just useful for you as an entrepreneur, but are absolutely essential, too.
Gives shape to your entrepreneurial ideas:
Business schools always give you an opportunity to foster your creativity and test prototypes of entrepreneurial ideas through class projects or association activities. Such activities also give scope to judge one’s strengths and weaknesses.
An opportunity to meet people from different cultures:
This is an invaluable experience for you if you want to be a global entrepreneur. You can grow your network of contacts by meeting people from different countries in your MBA School.
An MBA degree from leading business schools like Stanford, Wharton or even IIMs in select cities of India adds greater credibility to your professional profile. You’re more likely to find prospective partners for your business venture during the course of your study in these business schools, too.
Considering these advantages, an MBA degree would be highly beneficial for any aspiring entrepreneur. But it might not always be necessary. An idea and determination to implement it should suffice.Does an entrepreneur need an MBA degree? Are college dropouts more successful than people with an MBA degree? Can business skills really be taught or do they have to be learnt from experience?