4 ms·
Very interesting perspective on the value of a MBA: specifically as a path to be an entrepreneur. Traditionally (say 20 years ago) much of the MBA was focussed
by s4sharpie 12y ago
Very interesting perspective on the value of a MBA: specifically as a path to be an entrepreneur. Traditionally (say 20 years ago) much of the MBA was focussed on specific career paths: Investment Banking, Strategic Consulting, and Large Corporate Management Track.
I completed my MBA in 2006 while my school was shifting itself from the traditional aspects above to include a more entrepreneurial focus. If you asked me at that stage for a budding tech entrepreneur is there value in an MBA, the answer would mirror the position of the writer.
However, some schools have made significant strides in developing their programs and themselves to support entrepreneurs (or people who want to pursue that pass). I have been stunned in the way some schools now offer almost entire programs around entrepreneurship. Is that enough to overcome the cost?
I don't have an answer for that, but here are my thoughts:
1. Many, if not all of these programs, now have incubators/competitions as a part of the program with significant seed funding available
2. Similarly, many schools have developed networks with local VCs getting that initial access to funding and offer amazing access to coaching and angel investors
3. Maybe a little esoteric, but that 100k might give you that one piece of credibility/analysis etc that gets you that first round of funding, or helps you avoid that one mistake that could jeopardise you business and/or any funding you needed to keep your business running.
This is not an easy choice, but increasingly, some MBA programs do offer a LOT of value for the $100k
- Retric 12y agoThe opertunity cost of 100k and ~2 years of effort is easily your first startup. Sure, it might be worth it but you can also get the coursework / books for far less than 100k.
- s4sharpie 12y agoI completely agree that 100k is a very steep price for the coursework/books. If that is all you aim to get out of a MBA, you will not get value from the MBA. It is now everything else besides the coursework/books and framework of teaching that is now valuable for a budding entrepreneur: access to additional funding, VCs, and a structure to support you. Indeed, and I may have been remiss in mentioning this before, for an entrepreneur, some MBA programs provide a very safe opportunity to pursue your initial idea. You have two years with a large amount of unstructured time, amazing resources (including funding) and typically a strong financial support network (feed, house, cloth you). At the end of your two years you can have built either a successful initial idea or indeed cycle through 2 or 3 ideas. And at the end? If you haven't made it, you will have a strong position to re-enter the workforce - with some great stories to tell. That a MBA is purely coursework/books is very myopic.
- socialgoodkvp 12y agoThank you for your thoughtful reply. I appreciate you reading!