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As a both a business school graduate and company founder I witnessed this first hand. At my school, the majority of people wanting to do "entrepreneurship" were
by transparentlabs 9y ago
As a both a business school graduate and company founder I witnessed this first hand. At my school, the majority of people wanting to do "entrepreneurship" were not really committed to it, but rather dabbling in it. They had an idea and did surveys to "validate" the need and were always looking for random undergraduate engineers to seduce into helping them.
That being said, there was a small handful of people who were serious, committed, and willing to do whatever it took to get their company off the ground. As with all stereotypes, there is some element of truth along with countless counter examples. For MBAs, the core issue is a lot of ambitious, idea-generating, risk-averse people without technical/tactical skills on average, looking to do something risky with technical/tactical requirements.
As someone wanting to start my own company, I hated that I didn't have the technical chops to get even a basic prototype off the ground and didnt want to just another MBA with an idea and no ability to execute. Luckily, my school, Chicago Booth, began offering a Ruby on Rails coding class. From the first class, I got addicted to it and spent all my timing building out an idea, that I didn't even initially think was good, just so I could learn to code better.
When I released the idea, 60% of the school started using it in the first month. There is no substitute for being able to cheaply and easily get a workable prototype onto the market. As a result of having a real product and the ability to iterate on it, we made it much further than any of our competitors in our schools New Venture competition and ended up winning it and raising a seed round.
We are by no means successful and are still in the startup grind for sure, but without bringing the initial ability to get something real onto the market through some technical skills, we would have been dead in the water no matter what. Our product is now used by half of MBAs in the country ( https://www.transparentcareer.com https://www.transparentcareer.com ) and it would have never of happened without at least getting some basic technical skills.
MBAs can start companies and be successful at them, and some companies require way less tech than others. That being said, I think everyone would wind up being better off learning to code no matter who they are. There is nothing more empowering than being able to create something real instead of just a powerpoint presentation.
Now that I have a team of engineers, working with them is way smoother as I more deeply understand the development process and can understand how to spec things out better. Even if i'm not coding on a daily basis, its immensely valuable to at least know the basics.
- _e 9y agoWould you have stumbled upon your idea if it weren't for the MBA?
- transparentlabs 9y agoDefinitely not, it was my struggles with getting better data that I could trust through the recruiting process that made the idea strike me in the first place. I do also have to say, the resources that Chicago Booth provided for entrepreneurs were quite amazing, similar to what you would get through a high-quality startup accelerator. Their New Venture Challenge is also really great and gave us the initial boost we needed to get off the ground. In my particular case, the company would not exist without me getting my MBA, but this is somewhat of a unique example.
- dzink 9y agoHa! In 2013-14 I teamed up with another technical and a non-technical Booth student to create a class called Booth Hacks to teach MBAs and other UChicago students how to code in a practical way ( https://www.facebook.com/groups/boothhacks/ https://www.facebook.com/groups/boothhacks/ ). I have been coding for 20 years, so I co-wrote and co-taught the lectures. It was an 8 week, 3hrs week course and its success allowed us to convince Booth to offer a real RoR class to its students the following year (your year). You started at Booth the year I graduated. We also worked to launch the MBA/CS joint degree program that is now live. I was not allowed to compete in the New Venture competition you won a year or two later, because I created http://www.doerhub.com/at/uchicago http://www.doerhub.com/at/uchicago to bridge the gap Michael is talking about in this podcast, and I was serving the startups that ended up competing (so I wasn't allowed to compete). The year I graduated, both winners of NVC and SNVC were users of the site and had found people or received help for their projects due to DoerHub. Needless to say, I have a lot to say on this topic, and would love to talk to people who want to connect university brains in different disciplines in productive ways, including YC if they are interested. DoerHub is still running, but I just graduated YC Startup School with https://DreamList.com https://DreamList.com , which feeds off of similar tech, but applies and improves the algorithms by serving much larger and more lucrative problems.