Do you need an MBA to be an entrepreneur? No
Do you need an MBA run a business? Probably yes, it helps.
Starting a business and running a business are two distinct things and require different skill set. It’s never one over the other but if one looks closely into a successful organization, you will see a blend of creativity, innovation and brilliant execution.
To start a business, one needs more of common-sense and perceptive abilities like understanding a consumer and his problem and articulating the solution. On the startup path, a founder starts with all his might and passion. As and how he goes along, he encounters challenges that may arise due to various reasons. Now to troubleshoot the challenges, founders usually fall into a familiarity trap with their product/service. Sometimes, the founder becomes so obsessed with his pursuits and line of thought that he fails to think from a distance and take up an alternative and fresh view of the situation.
In my view, that’s where an MBA degree can come to a founders’ rescue. It teaches you the consultative approach that can help you troubleshoot your business problems just like you would do the case studies in your MBA. If you wear a consultants’ hat, you will begin to look at your problems more analytically than you would as a founder. You will go back to the basics and try and apply the different models that could help you come to probable solutions.
However, if you get stuck too much into models at the onset of starting up, you would block your way because starting up requires “Jump and then think” approach. It’s a delicate skill balancing act as to when to wear which hat and I am sure it goes on getting better with experience.
So, what do you think MBA and non MBA entrepreneurs? Do leave your comments below.
ABOUT THE AUTHOR
Nidhi Kapoor – Co-founder of FounderMates
Image Courtesy – vcpreneur.com
SUBSCRIBE TO OUR POSTS
Want to read our posts as they are published. Subscribe here.