Is a course in MBA necessary before starting a venture?

Unless you turn your idea into reality - idea is going to be worthless. Everyone has ideas but very few have guts, passion and persistence to turn them into reality.

To answer your question: No, you do not need MBA to start a venture. MBA would mean you'll spend lot of time (~2 years) and money (thousands of bucks) in learning to 'manage' a business. Entrepreneurship goes far beyond management.

Now that you have the idea the thought procedure could be as follows. These are going to be just the guidelines and you'll have to find out your own way.

1. Find out what problem does your idea solve. Does it make people's life better? If yes, how?
2. Once above question is answered, determine your target customer base aka the people who'd be interested in using / buying your software or service.
3. Find out a way to turn your idea into realty. Figure out what all you are going to need to make the first prototype (aka working model) if your idea is about developing a software product.
4. Don't waste more than 2 days on figure out the above.
5. You don't have to understand the market before you start. There will *always* be people interested in your service if it solves a problem for them and make their lives easier.
6. Start approaching the people you think will be interested in your product/service via various means: Internet, in-person, print media or whatever that makes you 'known' among your target buyers.

I hope this helps 😀

The_Big_K

Unless you turn your idea into reality - idea is going to be worthless. Everyone has ideas but very few have guts, passion and persistence to turn them into reality.

To answer your question: No, you do not need MBA to start a venture. MBA would mean you'll spend lot of time (~2 years) and money (thousands of bucks) in learning to 'manage' a business. Entrepreneurship goes far beyond management.

Now that you have the idea the thought procedure could be as follows. These are going to be just the guidelines and you'll have to find out your own way.

1. Find out what problem does your idea solve. Does it make people's life better? If yes, how?
2. Once above question is answered, determine your target customer base aka the people who'd be interested in using / buying your software or service.
3. Find out a way to turn your idea into realty. Figure out what all you are going to need to make the first prototype (aka working model) if your idea is about developing a software product.
4. Don't waste more than 2 days on figure out the above.
5. You don't have to understand the market before you start. There will *always* be people interested in your service if it solves a problem for them and make their lives easier.
6. Start approaching the people you think will be interested in your product/service via various means: Internet, in-person, print media or whatever that makes you 'known' among your target buyers.

I hope this helps 😀

Thanks for your reply....This will surely help me and I am not going make any further delay... I will start working on it and will need more suggestions in future if you won't mind.

We're here to help and it gives me pleasure to help budding entrepreneurs. I wish we get more budding entrepreneurs here who don't feel shy to express themselves, ask questions and 'just do it'. 😀

Manas Madhukar

Hi,
I am a B.E(instrumentation engineering) pass-out(2012). Recently I have come up with a great idea concerning a venture in the software discipline. I would not like to disclose the idea right now. I wanted to know from seniors(who are already into it) and others, if it is necessary to understand the market before hand or simply give it a start. Mine would be an service oriented firm providing services to retailers online.

Well having a MBA degree always helps when you are setting shop. Let me share the list of colleges that provide Management courses in entrepreneurship. You can enroll in the Entrepreneurship Development of India in Ahmedabad or the Indian Institute of Management in Bangalore. You can get the details here: <removed by admin>

Renita Ghosh

Well having a MBA degree always helps when you are setting shop. Let me share the list of colleges that provide Management courses in entrepreneurship. You can enroll in the Entrepreneurship Development of India in Ahmedabad or the Indian Institute of Management in Bangalore. You can get the details here: <removed by admin>

Thank you, Ms Renita for your reply. i will explore them to know if they are really helpful. however i have started working on my site as suggested by Mr Admin and will expect more of your views provided you don't take me to unwanted links as mentioned by him.