Impact of MBA degree in starting a business

Replies

• 

  Kaustubh Katdare

  I personally believe that one does not need management degree to start a business. If you think you need some training before you can start a business, I'd suggest you to look at entrepreneurship programs offered by many leading institutes. I also believe that management skill is something that one develops over a period of time and through experience.
  
  One biggest help you can get through MBA schools is networking. You will have access to lot of key people in the Industry through alumni networks and they'll be of great help in getting you funds, marketing of your products, partnerships etc.
  
  I'm not sure technical courses would really help unless you specify the nature of business you are trying to venture into. Of course, if you believe that your current skillset is not enough to get started; the technical course will surely help. It helps to have technical know-how; but for an entrepreneur, it forms a small part of overall responsibility.
  
  I'd strongly recommend starting a business utilizing the skillset you currently have. You'll build the necessary skillset over a period of time. I'd also suggest you to evaluate the investment you'll make in further education (time & money) against the odds when you start right after graduation.
• 

  Harshit_Shah

  I totally agree with u bro. (The_Big_K) but I often wonder then why do people go for an MBA degree then ?? And I've often seen the successful entrepreneurs would be mostly having an MBA degree with them. So how does an entrepreneur with an MBA degree differ from the entrepreneur who doesn't has it ? Just confused a bit and curious to know the answers so expecting a reply..
• 

  Kaustubh Katdare

  And I've often seen the successful entrepreneurs would be mostly having an MBA degree with them

  Not really. There are few successful entrepreneurs who have the MBA degree; but there's a large number of entrepreneurs who don't have MBA, don't have formal education etc. How do they differ? I don't know. I'd personally not connect MBA with entrepreneurship.
• 

  Harshit_Shah

  1> Myself being in the 3rd year of computer engineering I am beginning to feel as if I am born to start my own business and not to do any technical job. So what do you suggest biggie? An MBA degree, M.Tech/MS Degree or a job to get experience?
  2> Still I haven't decided in which field I want to start my own business so how does one exactly come to know in which field he's passionate about starting a business ??
  3> And I sometimes feel as if I've simply wasted these 4 years of my life if I don't work or start my own business in the IT sector though I've interests in many other fields..! So does it really matter if a true Entrepreneur keeps on changing his field of interest in starting a business unless he finally gets success?
  Hoping you (Biggie) to solve my above queries..
• 

  Kaustubh Katdare

  Harshit_Shah

  1> Myself being in the 3rd year of computer engineering I am beginning to feel as if I am born to start my own business and not to do any technical job. So what do you suggest biggie? An MBA degree, M.Tech/MS Degree or a job to get experience?

  I don't know what you wish to start. Make a decision by evaluating the advantages/benefits you'll get by opting for these courses. A business can start right away, TODAY!, while you are still a student. If after graduation, you think that you need further education; you can always opt for it.
  
  Just get started right away.
  
  

  Harshit_Shah

  2> Still I haven't decided in which field I want to start my own business so how does one exactly come to know in which field he's passionate about starting a business ??

  Passion is something about that makes you feel eating and sleeping is a waste of time 😁 . I believe you should find out what you like doing, and can continue doing it even when you aren't making any money. Start doing it and then figure out how can you make money from it. The key is to get started and then figure out how to make money. That's how most of the successful businesses have started. If you can't figure out what to do; read lots of books, real life stories of entrepreneurs. You will get many ideas through books.
  
  

  Harshit_Shah

  3> And I sometimes feel as if I've simply wasted these 4 years of my life if I don't work or start my own business in the IT sector though I've interests in many other fields..! So does it really matter if a true Entrepreneur keeps on changing his field of interest in starting a business unless he finally gets success?

  You will have really wasted four years of your life studying engineering if you didn't pay attention to the subjects taught in engineering. Mere having interest in something isn't enough. You will have to enjoy your work as well. If you don't, you will have to find out something else that gives you pleasure and joy at work.
  
  I'm not sure what you mean by a true entrepreneur. An entrepreneur aims to build a business and not keep changing fields. Of course you can diversify when you are successful at 'ONE' thing that you do. Google founders started with Internet Search and still continue to do it very well. Over the time, as their company grew they diversified into other fields. Dell still does computers and does it fast and well.
  
  

  Harshit_Shah

  Hoping you (Biggie) to solve my above queries..

  I guess, I did.
• 

  Harshit_Shah

  Thnx a ton Biggie for your quick reply..! Really would be grateful to you for your help. I've finally decided to do my MBA from one of the top 50 business schools in India for the time being after completing my bachelors.. Ultimate aim is starting my own firm but the field is yet not decided. But I just wanted to know from you what these Business Schools exactly teach you in these 2 years and in what way would they benefit me in developing my entrepreneur skills being an engineer at present.. I m planning to do my MBA in the marketing or finance side.
• 

  Kaustubh Katdare

  Aim for top 10. Its not worth doing MBA unless you are doing it from one of the top 10 institutes in India.