Should you do MBA or start your own business?

A few students come up with this question when they think of getting an MBA.

MBA is a good option for many students, but is not the best option for every student, especially who are planning / ready to start their own business.

May be this article, by an MBA who started his own business, would clear a few doubts from such students.

The first thing the author does is ask a very important question – What career are you seeking?

He then lists a few possible answers:-

  1. I want to start my own startup or business
  2. I think I lack some skills; I want to improve them and then work in my own startup
  3. I want to work at a startup
  4. I want to work for a big company
  5. I don’t like my current job and I want to change my career
  6. I don’t know!

He then states, that if your answer to query is (1,2 or 3 above) then one shouldn’t do an MBA, while if the answers are (4,5 or 6), then MBA is a good choice.

He goes on to explain in detail what one will learn from an MBA degree in college viz., accounting, finance, marketing, strategy, management, operations, presentation, report writing, business plan etc.,

Thus he explains that MBA courses are built to prepare students to work in big corporations. Since all these above covered areas and areas of work are something that you find in big companies.

While, if you are starting your business, these are the few things that one need to know – viz., learn how to transform a new idea into a product that people are willing to pay for, select and manage your small team, how to survive with a small budget, handle pressure from your family, friends and the whole world that thinks you are crazy, and learning by yourself.

These important aspects, which are mostly common for every startup business, is not covered in an MBA programme. These are things that cannot be learned by reading (eg., case studies) in schools etc., but, it has to be learnt the hard-way that is by doing it yourself.

He then goes on in detail to explain how his MBA degree was not of much help while starting his own business, and what other factors and experiences were responsible for his successfull business start up.

So, if you have an brilliant idea, don’t waste time, go ahead and start working on it, and you can even fund your new idea with the money you planned to invest in an MBA.

However, for students, who are not planning a start-up business, but hoping to work in top companies, he recommends MBA is a good idea afterall.

Also, students, who aren’t sure so far whether working on a job or starting a business is a good option – go get an MBA, it is worth it, anyways, as you don’t lose anything. In case you decide to do a job, an MBA would be of great help.

Read the full article – HERE

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