Is doing MBA necessary to become an entrepreneur?

by Ashvini on September 13, 2010 · 3 comments

in Entrepreneurship

I was at one of the entrepreneur conference. An audience asked this question to the panel of Venture Capitalists

“Do I need to do an MBA to become an entrepreneur?”

To which there was a resounding reply “NO”.

I think I agree with it partly. Let us first determine what an MBA might provide to an average person who dreams to start his own business.

  1. An MBA  gives sufficient opportunity to learn about business terms that he or she will need for running a business
  2. There are a lot of classes in MBA course where you need to present your point of view. It helps develop confidence and builds presentation skills.
  3. Doing MBA is good if you want to network. You will find similar people as yourself and you can team up with them for your venture.
  4. Lot of classmates who are doing MBA often have good industry experiences and can provide the future entrepreneur valuable insights about those industries.

That is the the Yes part.

Now for the No part

If you think you possess good networking skills and can present yourself well, other skills can be learned. For e.g. you can develop some knowledge about financial planning by reading books and by checking websites on internet. If you are good at networking , you can use various internet sites to your advantage.

Entrepreneurship in general is less about knowing and more about learning from doing things.

So what is my opinion on MBA for entrepreneurs? If you like to study and do it in a methodical fashion, go for it. However, it is  important to know if you have the time and money to pay for it.

If you prefer to learn from doing things and have other sources of knowledge to draw from, don’t go for an MBA.

Doing your MBA is a + for entrepreneurship but is not necessary. Do you agree or not?

About The Author

{ 3 comments }

sanjay April 7, 2011 at 1:11 am

I AM DOING PART TIME MBA ALONGWITH MY FAMILY BUSINESS AND I KNOW HOW MUCH IT HELP ATLEAST TO ME WHO JOIN BUSINESS STRIGHT AFTER COMPLETING GRADUATION. BUT THAN ALSO IT DEPEND FROM PERSON TO PERSON ONE CAN LEARN SKILLS IN B-SCHOOLS WHICH U MIGHT NOT LEARN IN PRACTICAL LIFE .
SO MBA OR NO MBA ITS ALL IN YOUR HAND IF U HAVE BIZ SKILL THEN NO MBA IF NO THEN GO 4 MBA.
BY ASHVINI

amrita December 21, 2010 at 11:27 pm

i am also of the same opinion.to be an entrepreneur u don need to be an mba.yaa being an mba do hone ur management skills but its nt d only way out dere to start a bussiness.dere are many successful businessman out here who r nt an mba.

Ashvini Kumar Saxena December 22, 2010 at 11:42 pm

Thanks Amrita for your comments

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