Would an MBA make me a better entrepreneur ?

What kind of an entrepreneur would you like to be?

If you'd like to pursue something like corporate entrepreneurship and launch a small business unit inside of a large firm, absolutely.

If you want to do something small and grow, I think you learn a ton from just starting and the experience you gain along the way.

the short answer is No.

Most of the people I know, and are successful in what they do, don't have an MBA. they don't even have a business degree. however, having an MBA is as important to the business world as learning a new language would be. It's a way to learn all the jargon and common terms of various business topics and their applicable situations. Also, a respectable MBA program would teach you how to formulate and analyze a business problem and come up with an effective solution given the resources at hand. That's essentially what an MBA is for: problem solving.

On a personal level, though, I was an entrepreneur long before I earned my MBA. The MBA opened my eyes to a new world of managing an organization and figuring out the necessary steps to expand operations, increase revenue, and, what's becoming an increasingly important aspect of management, manage an ever diversifying personnel and globalizing market.

There is no doubt in my mind that an MBA is an incredible asset for an entrepreneur.

However, I think this value will vary from one person to another.

For example, some people, like myself, always wanted to be an entrepreneur, but I really didn't have that killer idea: 1) the MBA allows you to meet some of the brightest people in the world and brainstorm and meet future partners etc etc. Good business schools also allow you to mingle with the engineers who need help from the "business side".

Other people may know exactly what they want to work on and may already have the team to do it. To them, the value of the MBA may be different: 2) The MBA allows you to learn from, literally hundreds, of case studies of entrepreneurs who have succeeded and those who have failed. A serial entrepreneur once told me he wished he had done the MBA so that he wouldn't have had to make all the mistakes he could have learned about in class. 3) even if you already have the basic plan for your venture, the MBA allows you to network with people who will, no doubt, be of value to you in your future. This network will add incredible value to your venture. 4) lastly, there's the academics. keep in mind that top MBA programs have some of the smartest professors in the world that really can help you with the theory, and oftentimes, theory is really helpful. These professors also have an incredible network, as many of them are angel investors and even VCs.

As for the best universities, of the top MBA programs, there are different reasons to attend the different schools. For example, HBS has an incredibly large network, many incredible professors, but Harvard doesn't have a strong engineering school, so you have to go to MIT to network with the techies. Stanford is great for entrepreneurs since it is in the heart of Silicon Valley. MIT Sloan is good for the technical-minded entrepreneur, simply due to its access to the engineers. The point being, you should speak to alumni from the different schools to hear their experiences and relate that to what you want to get out of the MBA, then decide.

In my opinion, an MBA is important to understand better the business side of your ventures. But is it important enough or worth it?

My answer for you is that the time & resources you invest in MBA just to make of you a better entrepreneur are not worth it.

Instead of doing MBA, try to connect with some successful entrepreneurs and learn directly from their experience, it's fun and you'll learn more and much faster.

شخصيا لا أرى أن الدراسة والشواهد الجامعية تمثل قيمة حقيقية للريادي.

أحيانا يمكن أن تكسبك تلك الدراسة بعض المعرفة النظرية الجيدة، لكني أتصور أن تلك المعرفة يمكن الحصول عليها بسهولة أكبر من الكتب ومن التواصل مع رياديين آخرين. والأهم دائما هي الخبرة العملية.

ثمة سؤال سابق هنا عن ما هو التخصص الأنسب لرواد الأعمال. إلى حد ما يتقاطع ما هذا السؤال.

بالتوفيق.

I think that MBA helps you finding a job only. Maybe what you need is a quick business course(s), you just need to understand the fundamentals not going into details (unless you want the boring details :) ). Google for opencourses and free video lectures, you may find good ones and save money.

• http://www.youtube.com/edu
• http://videolectures.net
• MIT OpenCourseWare

I believe in academics, call me old fashioned, but this is how I see it, I don't think the people without academic certificates are not good developers/entrepreneurs I just think that we (in the arab region) need more knowledge the real stuff (and the boring stuff).
maybe getting an MBA wont help becoming a better entrepreneur but it would help you become a better person.

I agree with a lot of what has been said above, and here is my take on things as a self-proclaimed entrepreneur, and an engineer with an MBA. An MBA (from a top school) gives you:

1- the academics to teach you about the different fields that exist, especially if you are a pure techie like I was, with no extensive exposure to the various sides of the business world

2- the framework to think and solve certain problems (different from an engineer's approach), as well as case studies that showcase what common situations and that can help you avoid certain pitfalls

3- the networking -- with other entrepreneurs, with very intelligent people who may become partners/mentors/advisors/friends/investors/customers/suppliers/supporters

4- the credibility, which can come in handy when pitching to (old-fashioned) investors or associates

5- the validation that what you are actually thinking about is not totally crazy as you can now come up with a business plan, do a valuation model, look at different marketing strategies, think about how you want to manage your team, etc

6- the broad perspective on things, which as an engineer you may not have

Do you absolutely need an MBA to do the above and come up with a successful venture? Not if you like to read (extensively), if you are well-connected, if you have enough self-confidence to start "doing it" without the need to study every single detail about business, and if you know how to find that great partner who happens to have an MBA or the experience required. And it does get easier after your first successful venture, imo.

That being said, there is a whole list of reasons why I think an MBA is a great addition to one's personal and professional development. And, I am happy to talk about that privately, if anyone is debating that idea!

Cheers and good luck!

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Like Amer said, I think the entrepreneurial aspect of one's business intellect is usually cultivated before an MBA is achieved. Moreover, the cost of an MBA from a top school is quite expensive. If you have a business in place that can provide you with income while attending school then that will give you some debt relief toward tuition.

Now, that's not to say that someone can't track straight from undergrad, into an MBA program(with a couple years in a corporate environment between). If the right business opportunity doesn't manifest itself, then an MBA program may be a good way to increase your entrepreneurial chops.

Good luck in whatever you decide.