If you intend on one day launching your own company, you might think you do not have to attend grad school, right? Many would-be entrepreneurs think that an excellent idea alone will take them to the highest point of their careers and they will never have to back down, just like it did for the MBA-less Mark Zuckerberg, computer scientist and Steve Jobs. The fact, though, is that for each super successful entrepreneur who eschewed the MBA, there are scores more entrepreneurs with MBA degrees who have changed the globe, like Nike co-founder Phil Knight, former eBay CEO Meg Whitman or Warren Buffett, who grew Berkshire Hathaway from a textile business concern into the world’s fourth-largest public company.
An MBA program will not teach you to feel lighter with taking risks or to be more captivated with your idea, and it won’t provide you with a continuing thirst for brand sparking new projects – those are a number of the innate qualities a successful entrepreneur has. However, an MBA program can teach you the way to show a decent idea into an honest business. If you have got start-up fever, here are three reasons you must follow through to completion, like grad school first and let go of the notion that you are an exception who will not need that MBA.
Business grad school is that the best incubator for budding entrepreneurs
MBA programs have always prepared students to establish and run their own businesses. But over the last decade, the number of courses, centres and contests dedicated exclusively to entrepreneurship has mushroomed. The business school has become the safe place to check out your most creative, outrageous and bold ideas without the pressure and fear of failure if that company or those ideas don’t work.
In fact, failure is simply as valuable a learning tool as success, because it offers students the possibility to seek out what went wrong and refine their business models to nail it in the next launching around the world when the stakes are much higher. You will have teachers and mentors guiding you along the way as you explore for that big concept will change lives.
You may also see all sides of the entrepreneurial experience, know what is required to collaborate to execute your vision and ultimately have a far better understanding of whether entrepreneurship really is your calling.
Business graduate school offers the most effective environment to make your team
Entrepreneurial success requires teamwork, strong business relationships and a network of classmates who can provide introductions or advice on various areas, further as seasoned professors who can weigh in on business dilemmas as you build an idea. In detail, good associations along with your professors can turn into a lifelong pathway or network of talent that connects graduates with current MBA students.
Even if – just like the majority of applicants – you do not plan on pursuing a joint MBA degree, you’ll be able to still benefit from interdisciplinary studies in other areas that interest you. As a component of the university community, top-tier business schools often offer MBA students the possibility to require courses alongside students from other graduate programs.
For illustration purposes, the Symbiosis Institute of Business Management (constituent of Symbiosis International) provides students with real-world entrepreneurial experiences through cross-campus initiatives and involvement with the profession. You would possibly find someone outside of the MBA program who could become a valuable asset to your team down the road.
Business graduate school will teach you ways to run and grow a corporation – not just launch it
Such a huge group of entrepreneurs have failed at getting their business idea off the bottom precisely because they did not have a number of the required tools in their weaponry that they would have possibly learned at grad school. You have to be able to transform and modify your ideas into an actual running business with turnovers. It would be a start-up, but if you wish for it to grow – and last, like quite many other business roles, an entrepreneur has to know a small ounce bit of everything.
Whether or not you begin a tech company, someone needs to do the accounting, know the way to promote your product or service and act as a pacesetter for the team. If you decide on a grad school that relies heavily on the case method, you may likely learn from others’ successes and mistakes about growing too quickly. Also, those classes in human resource management, business law or capital financing could facilitate your head off some thorny workplace issues in a while.
– Chandni Sethia
