Is MBA important for Entrepreneurs

[HeadHunterEC_UK]

An MBA is good for two things:

a) it's is a great way of formally recognising the skills you might already have
b) it FORMALISES your method of work.

So (a) If you are starting out on your own, you will work it out through your own mistakes, however if you need to seek funding, it gives you credibility in the eyes of others.

In the same way; if you're looking to bring someone on board with you, and you both have MBAs, you know that you will both be "on the same page".

Plenty of successful entrepreneurs will not have MBAs - or even any business qualifications at all!

[smithsinha]

MBA tells us about the skills which we can use to enhance our business. If you already have those skills you not need to do mba

[deohaivan]

nah bill gates d0esn't have it

[john125]

definitely u benefited if u are MBA

[gfrye13]

I dont think so, ther eis nothing that sitting in a classroom will do compared to having boots on the ground and doing it yourself

[tigerbite84]

I can speak from experience.

Having an MBA will not guarantee you success. I have a general MBA, they did have a MBA specializing in Entrepreneurship when I was in school, but I did not take it. From what I remember, an MBA thought me how to be a good "employee" because it helped me understand global marketing, business accounting, basic law, and that sort. I remember Robert Kiyosaki said in one of his books to understand business systems, get an MBA, or to succeed in business to be an accountant or a lawyer.

I think with the way the current economy is going, it depends on what the MBA will do for you currently, which will help you long term. Let me elaborate. If you get your MBA with the cost of $50k, but get a high salary that pays you over $100, so you can take that money to invest, then go for it. In most cases, it probably isn't a good investment today, unless you get a free ride or work to pay for it.

[Negative PR Agency]

IT IS NOT! Good entrepreneurs employ those MBA nerds... Some of them may be even illiterate, you know... (for example Onassis).

[YPU]

Necessary? No. Helpful if you have no business background and want to go into business? Maybe.

Not having an MBA should never stop you from going into business for yourself. The only advantage for someone with no business experience is to learn more about some of the fundamentals, a la accounting and finance. Of course, you can pay someone to do that for you!

As I once heard the great Dave Ramsey say, "I don't have an MBA, but I've got lots of folks working for me who do."

Given the high dollar amount of what an MBA costs now I would think it would be better to spend that money on training in your niche.

[dansbanners]

Some of the most successful entrepreneurs didn't even finish college.

[Sarah Burd]

I don't think it is essential...but may be helpful

[mehradev]

Entrepreneurship skills need to be developed and inculcated in ouself.

What do you mean by the inborn skills? What I think is that if a child born in a rich family(who are entrepreneur as well) then his or parents teach and inculcate such entrepreneurial skills in their children, knowingly or unknowingly. This is what I consider as "child born with the inborn skills".

[allentcheng]

You can answer your question empirically by looking at the histories of today's highest market cap companies and the educational background of their founders.

[eveleene]

According to me MBA from a reputed college can add value to your CV and fetch you a good job soon without any difficulty. Apart from getting you a good job, it can also improve your communication skills and your overall image. Most of us acquire knowledge by reading and being updated on latest trends. Besides, having good knowledge about business issues, it is also vital to have skills in tackling tough situations.

[stellawinslet]

I think M.B.A. provides the tools that improve the fledgling entrepreneur's ability to assess value and to negotiate. In my MBA I took electives such as Entrepreneurial Finance and New Enterprise Management. I'm quite confident that in entrepreneurial practice the knowledge gained from these electives and the other core subjects will help. Though I would not say it�s essential to go for MBA, but yes it sharpens your skill.

[KCP100]

Personally, I don't think so. I think having a degree in the field of the business you want to open is far more valuable. Not that an MBA is not important, but if you have enough common sense and reasoning skill it will suffice.