Getting an MBA before starting a company or directly starting a company?

MissNonFall9

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Quote from: Kelward on May 04, 2024, 06:08:56 AM

I don't think that it's necessary to get an MBA first before starting a business, if someone is oppotuned to get an MBA first, then it's a plus, but when a person who has practical experience of a business and has the capital to start it, shouldn't wait for an MBA before starting. Starting a business doesn't stop the person from furthering their education to MBA level, i know that there are part-time programs in the universities, where business people and workers who wants to upgrade their CV can study and graduate.

In Nigeria, there's a tribe called Igbo, they're renowned for business successes, they're naturally gifted in businesses, they have a lot of millionaires and billionaires, but ironically most of them are not very well educated, yet they employ graduates, including MBA holders and pay them salaries. It's not every body that is privileged or has the means to get a good education, yet they're doing very well in their businesses, I think that some people are naturally gifted for business, whether they're holding an MBA or not.

You have presented the matter in a very nice and logical way. Some people are born with certain talents. For those who come into the world with business talent, doing business is a very natural thing and they may not need an MBA degree to do business. But for those who are not born with this talent but because of their attraction towards business doing an MBA is very important for their business success. People from some countries do an MBA just to get the degree not for business. Through business school one gets the opportunity to connect with people very easily which is very important for business. But from a practical view, if someone is connected with a business organization without an MBA degree, it is easy for him to do business and be successful.

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I don't think that it's necessary to get an MBA first before starting a business, if someone is oppotuned to get an MBA first, then it's a plus, but when a person who has practical experience of a business and has the capital to start it, shouldn't wait for an MBA before starting. Starting a business doesn't stop the person from furthering their education to MBA level, i know that there are part-time programs in the universities, where business people and workers who wants to upgrade their CV can study and graduate.

In Nigeria, there's a tribe called Igbo, they're renowned for business successes, they're naturally gifted in businesses, they have a lot of millionaires and billionaires, but ironically most of them are not very well educated, yet they employ graduates, including MBA holders and pay them salaries. It's not every body that is privileged or has the means to get a good education, yet they're doing very well in their businesses, I think that some people are naturally gifted for business, whether they're holding an MBA or not.

MissNonFall9

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Quote from: lixer on May 02, 2024, 06:50:53 AM

Quote from: oktana on April 28, 2024, 04:27:37 AM

It is generally better for you to know as much as possible before opening a company. Getting an MBA will definitely help you because you will learn various business concepts and techniques. The only advantage that there is with going straight into a company is that you will save yourself the stress and time and just go right into practice. But my advice is that one should be fully equipped so they can perform at maximum productivity.

Education and experience are two different things. It is important to have experience as well as education to start your own company. An MBA degree alone will not be enough to start a company and run it successfully. I have seen many degree holders when they go for jobs in big companies, they are asked about their experience, and their salary is decided based on their experience. This can be obtained just as a Legendary and a Newbie on this forum cannot have equal knowledge.

Similarly, an experienced businessman and a degree holder student cannot be equal. When we do something practically, we learn the ways to achieve success and the means to avoid failures. Therefore, I think that if you intend to open your own company in the future, you should do internships with big companies along with your education so that you can learn the skills of doing business along with your education. This means that as your education is completed, you will also gain experience.

Absolutely authentic what you said. Although education and experience are two separate subjects if a business or a company is created and managed in combination with these two, I believe that the company or business does not have to look back. MBA is theoretical knowledge and internship is practical knowledge. The combination of which brings success. We have seen many times in our educational life that a good student is not always a good teacher and also seen that a backbencher can present what he knows to the audience with a correct and beautiful explanation. So let's hope that the ultimate success in business will come through the combination of an MBA degree and internship.

shield132

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To start a company, you need good management skills, good connections, good networking and access to finances. MBA is not necessary for starting a company, you also don't need to get a bachelor's degree in Business Administration.
I can give you a good example, I have two friends, one friend is rich from a successful family and my second friend is very successful in university, and got an A degree in MBA. My first friend, the rich one, never went to university but with his finances and connections, he managed to open a big restaurant and GYM that generates a decent money every day. All he did was hired the right people, those who finished university, he is really naturally good at management. My second friend, who studied well in university and got A's in every subject, now works in Dunkin Donats because she doesn't come from a rich family, doesn't have good connections and since every job requires 2-5 years of working experience, she didn't manage to get a good job. No one also cares that she finished university with A grades. Could she start a better business? I don't know, maybe but she doesn't have what is necessary to start a business, good connections and money.

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Quote from: lixer on May 02, 2024, 06:50:53 AM

Quote from: oktana on April 28, 2024, 04:27:37 AM

It is generally better for you to know as much as possible before opening a company. Getting an MBA will definitely help you because you will learn various business concepts and techniques. The only advantage that there is with going straight into a company is that you will save yourself the stress and time and just go right into practice. But my advice is that one should be fully equipped so they can perform at maximum productivity.

Education and experience are two different things. It is important to have experience as well as education to start your own company. An MBA degree alone will not be enough to start a company and run it successfully. I have seen many degree holders when they go for jobs in big companies, they are asked about their experience, and their salary is decided based on their experience. This can be obtained just as a Legendary and a Newbie on this forum cannot have equal knowledge.

Similarly, an experienced businessman and a degree holder student cannot be equal. When we do something practically, we learn the ways to achieve success and the means to avoid failures. Therefore, I think that if you intend to open your own company in the future, you should do internships with big companies along with your education so that you can learn the skills of doing business along with your education. This means that as your education is completed, you will also gain experience.

Education is like a toolbox. You get the theory, the concepts, maybe some fancy strategies. But getting into the real world? It's different. An MBA is powerful, but it's your actions that give it meaning. We've all seen folks with those shiny degrees, lost as hell when it counts, right? Internships, man, is kind important. You either figure stuff out, or you don't. That's where you get the inside track on how the game is played; the unspoken rules, the way people negotiate, how a real leader steps up. You can't teach that stuff in a lecture hall.

Wanna build your own thing? Books and lectures only get you so far. You must get your hands dirty. Match your knowledge with real-world hustle. Because a company that'll outlast the hype, that's built on the rock of experience. Don't just theorize. DO IT. That's what truly matters.

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Quote from: lixer on May 02, 2024, 06:50:53 AM

Quote from: oktana on April 28, 2024, 04:27:37 AM

It is generally better for you to know as much as possible before opening a company. Getting an MBA will definitely help you because you will learn various business concepts and techniques. The only advantage that there is with going straight into a company is that you will save yourself the stress and time and just go right into practice. But my advice is that one should be fully equipped so they can perform at maximum productivity.

Education and experience are two different things. It is important to have experience as well as education to start your own company. An MBA degree alone will not be enough to start a company and run it successfully. I have seen many degree holders when they go for jobs in big companies, they are asked about their experience, and their salary is decided based on their experience. This can be obtained just as a Legendary and a Newbie on this forum cannot have equal knowledge.

Similarly, an experienced businessman and a degree holder student cannot be equal. When we do something practically, we learn the ways to achieve success and the means to avoid failures. Therefore, I think that if you intend to open your own company in the future, you should do internships with big companies along with your education so that you can learn the skills of doing business along with your education. This means that as your education is completed, you will also gain experience.

Of course an MBA isn’t all, you will definitely need to get hands on experience. But the op is asking if getting an MBA before staring a company is better. There’s no way that’s not better. It’s Education but that’s where you get some knowledge too. Actually, education makes it easier to learn when you’re getting experience because it’s the same thing you learnt that will be applied.

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Quote from: oktana on April 28, 2024, 04:27:37 AM

It is generally better for you to know as much as possible before opening a company. Getting an MBA will definitely help you because you will learn various business concepts and techniques. The only advantage that there is with going straight into a company is that you will save yourself the stress and time and just go right into practice. But my advice is that one should be fully equipped so they can perform at maximum productivity.

Education and experience are two different things. It is important to have experience as well as education to start your own company. An MBA degree alone will not be enough to start a company and run it successfully. I have seen many degree holders when they go for jobs in big companies, they are asked about their experience, and their salary is decided based on their experience. This can be obtained just as a Legendary and a Newbie on this forum cannot have equal knowledge.

Similarly, an experienced businessman and a degree holder student cannot be equal. When we do something practically, we learn the ways to achieve success and the means to avoid failures. Therefore, I think that if you intend to open your own company in the future, you should do internships with big companies along with your education so that you can learn the skills of doing business along with your education. This means that as your education is completed, you will also gain experience.

MissNonFall9

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Quote from: alastantiger on June 05, 2023, 03:44:46 PM

Getting an MBA is beneficial because it sets you apart from the rest of the pack. One of the advantages of an MBA is that it forces you to read and learn, which helps you expand your knowledge about any business you want to venture into. I strongly believe that one of the reasons why start-ups fail is because they lack a solid foundation in understanding frameworks and conducting their own research, instead of relying solely on purchased data. While it is true that not everyone may be able to afford an MBA program, the truth is that there is so much to learn from it. If you had the opportunity to pursue an MBA before starting a company or directly starting a company, which option would you choose?

- https://producthq.org/career/product-manager/how-to-decide-if-you-need-an-mba-as-a-product-manager/

If there is an option to do an MBA before starting any business or company then I will definitely choose the option of doing an MBA. Because the most important thing for every work is proper direction. Yes one can start a company without doing an MBA but in that case additional risk is likely and the process of company formation will seem complicated. Most of the successful people in the world have a lot of hard work and guidance behind them. But even if you don't have an MBA degree, you can build a business or company directly by going to practice and there are many examples of this in the world. However, I think that if you want to complete a task successfully, it will be a wise thing to acquire all the knowledge related to it and implement it.

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I am VERY against the whole "anti-college" nonsense that has been picking up steam over the years. My 4 years in college were the best 4 years of my life. Not just because of all the partying, lady friends, great friends I met and am still close to this day, but all that I learned, both in books and outside. If you make the most out of it you gain a lot of real world experience just simply interacting with others, gaining connections as well as educating yourself. I wouldn't be where I was today without it.

The whole "college is a waste of money since it's too expensive" crap is just that...CRAP. At least here in the US you could go to a community college for 2 years and an "In-State" college to finish and come out with no or very little manageable debt.

It doesn't matter where you go to school mostly, it's just what you do with your degree.

That said, MBA's I often feel are a waste of time and money. Unless it's in a certain field, I've found it to be a waste. Lets take business school for example...why is it needed? I don't support it for many majors. Some, I feel differently about.

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Quote from: bakasabo on April 30, 2024, 02:37:03 AM

Quote from: passwordnow on April 29, 2024, 03:56:37 AM

Quote from: bakasabo on April 29, 2024, 03:47:54 AM

MBA is nothing if you dont know how to use knowledge or havent developed right set of skills for business. A lot of MBA students know theory, but when they are given tasks, they cant do anything, because they dont have any experience.

That's true but given that they get into the real world of business and employment, they will learn additional knowledge with that. Actually having an MBA is actually a good start if you just like to sit and be in the corporate world until you retire but it's a different story when you're starting to think of owning a company. Being immersed in the actual business will give you more prospect of companies wanting to hire you than of having an MBA but, there are companies that value the traditional education and the knowledge that you acquire there. But to be honest, many don't rely on them anymore as it's like the company is the one pushing employees to have MBAs than graduating with an MBA then getting hired.

Imho MBA is a little "+" when you are tested, evaluated and selected among other candidates when applying for a job. Anyway people will look on your past experience more than on the name of the university a person has graduated from. Maybe my life experience is exceptional and totally different from others, but when I or others applied for the position, both MBA and BA were selected similarly, did the same job/tasks and only those who showed results were left in the company.

For someone that don't have any experience yet, it's good to have an MBA because you're right that it serves as a plus. And the employers are going to rely on your credentials instead of experience. But as of now, many employers do rely on the experience of anyone that will help their company instead of someone who finished good degrees and masterals because that will save them money and time as well.

Quote from: bakasabo on April 30, 2024, 02:37:03 AM

Quote from: passwordnow on April 29, 2024, 03:56:37 AM

Exactly, there is more to see and experience the actuality of how brutal the real competition in the world of business is. But don't get scared with that, you'll eventually get to have colleagues and connections that will help you out with that. Getting an MBA is going to give you a lot of connections in the academe, professors, admins and staff of your institution and apart from that, the classmates that you have been with your batch could also be one of the greatest connections that you'll ever have as you network with them.

You can get same connections if you hang out with MBA students or get second BA education. You can get well with professors during start of the study. Anyway professors are the same for all students. There is not like MBA students get more elite professors to teach them than others.

Most of the professors that are in the MBA program are also professionals and that's why I think they've got a better connection because they're connected to the real world of professions and industries that they're in. Compared to the BA professors, although they're the same that might be employed as well and only works part time as university professors but the qualification for MBA programs as professors are higher than compared to the normal BA courses.

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Quote from: bakasabo on April 29, 2024, 03:47:54 AM

MBA is nothing if you dont know how to use knowledge or havent developed right set of skills for business. A lot of MBA students know theory, but when they are given tasks, they cant do anything, because they dont have any experience. If someone thinks, that after getting MBA, his company will be more successful than other on the market, then such person will be surprised to find out that market is rules not by the level of diploma, but by people.

agreed MBA doesn't really help if we never have the chance to try out a business, there are plenty of MBAs out there that getting the degree solely for getting career improvement to say that getting MBA for the sole purpose of starting company might just seem to be a mundane action.
I think its better to start out the business first, figure out how the market reacts to your products, see whether your business can have the opportunities then get the MBA later on.
MBA can wait, but building business usually you don't know whether you gonna gain success or not, though if you can do both at the same time its gonna be enough I guess, even right now there are many MBA online programs anyway, its easy to get.
its only become urgent if you really need that MBA to maybe apply for a higher position job. otherwise seems like a waste of time and money from my opinion, i mean thats just my 2 cents.

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Quote from: TEBTC on April 29, 2024, 01:58:04 PM

Getting an MBA degree before starting a business is good as it is not necessary the elements that are needed to help you succeed in business is beyond education as what you need is a strong will to succeed and not only a MBA infact all the business CEOs known today did not start with an MBA it just the mentality and mindset to win

yeah right, I saw a lot of successful businessman without having MBA degree but still succeeded in their goals but it depends what kind of businessman you are, Sometimes even those people who doesn't have a degree can still be a successful entrepreneur but I don't encourage everyone not to have a degree because it is important and it is also a way to become successful person as long as you used it in a good way.

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Quote from: passwordnow on April 29, 2024, 03:56:37 AM

Quote from: bakasabo on April 29, 2024, 03:47:54 AM

MBA is nothing if you dont know how to use knowledge or havent developed right set of skills for business. A lot of MBA students know theory, but when they are given tasks, they cant do anything, because they dont have any experience.

That's true but given that they get into the real world of business and employment, they will learn additional knowledge with that. Actually having an MBA is actually a good start if you just like to sit and be in the corporate world until you retire but it's a different story when you're starting to think of owning a company. Being immersed in the actual business will give you more prospect of companies wanting to hire you than of having an MBA but, there are companies that value the traditional education and the knowledge that you acquire there. But to be honest, many don't rely on them anymore as it's like the company is the one pushing employees to have MBAs than graduating with an MBA then getting hired.

Imho MBA is a little "+" when you are tested, evaluated and selected among other candidates when applying for a job. Anyway people will look on your past experience more than on the name of the university a person has graduated from. Maybe my life experience is exceptional and totally different from others, but when I or others applied for the position, both MBA and BA were selected similarly, did the same job/tasks and only those who showed results were left in the company.

Quote from: passwordnow on April 29, 2024, 03:56:37 AM

Quote from: bakasabo on April 29, 2024, 03:47:54 AM

If someone thinks, that after getting MBA, his company will be more successful than other on the market, then such person will be surprised to find out that market is rules not by the level of diploma, but by people.

Exactly, there is more to see and experience the actuality of how brutal the real competition in the world of business is. But don't get scared with that, you'll eventually get to have colleagues and connections that will help you out with that. Getting an MBA is going to give you a lot of connections in the academe, professors, admins and staff of your institution and apart from that, the classmates that you have been with your batch could also be one of the greatest connections that you'll ever have as you network with them.

You can get same connections if you hang out with MBA students or get second BA education. You can get well with professors during start of the study. Anyway professors are the same for all students. There is not like MBA students get more elite professors to teach them than others.

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Getting an MBA degree before starting a business is good as it is not necessary the elements that are needed to help you succeed in business is beyond education as what you need is a strong will to succeed and not only a MBA infact all the business CEOs known today did not start with an MBA it just the mentality and mindset to win

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This is a good motivation, how academics change the mindset of a personality that is ready to be tested in the environment and competition and all generations of the nation have the right to choose education and complete it even the elderly Grin

. Let's see, there are many real world summaries and synopsis understanding of the past.

Some of the people I met were comparing the owner of the company with only the knowledge of experience by working in other people's companies with the qualifications that the company wanted. There are indeed pluses and minuses from proof of income, success, and attitude. The point is which one is the owner and which one is the manager. This should be a natural thing and there is no need for discussion that seems to doubt the background of educational degrees, because smart people complement to increase the scope and turnover of the company. And I agree that everyone needs cooperation because it is not about who is the strongest or the smartest, the point is to be able to work together as a team because humans are symbiotic mutualism, including successful people/company owners have their weaknesses.

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Quote from: bakasabo on April 29, 2024, 03:47:54 AM

MBA is nothing if you dont know how to use knowledge or havent developed right set of skills for business. A lot of MBA students know theory, but when they are given tasks, they cant do anything, because they dont have any experience. If someone thinks, that after getting MBA, his company will be more successful than other on the market, then such person will be surprised to find out that market is rules not by the level of diploma, but by people.

It is also because many students have such short-sighted thinking that they think that today education and degrees are useless and they do not admit that that weakness comes from themselves. It is true that a degree cannot bring them success because knowledge alone is not enough and they need experience. But it should not be blamed on the degree or education, but their stupidity in not being able to promote what they have been taught. Why don't we ask the question that many people who study with us have the same degrees as us but they can get stable jobs and become entrepreneurs while we can't?

A degree does not guarantee our success, but if we own it and take advantage of what we are taught in school, we will certainly have a higher chance of success than many people who do not have a degree or education.

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Quote from: bakasabo on April 29, 2024, 03:47:54 AM

MBA is nothing if you dont know how to use knowledge or havent developed right set of skills for business. A lot of MBA students know theory, but when they are given tasks, they cant do anything, because they dont have any experience.

That's true but given that they get into the real world of business and employment, they will learn additional knowledge with that. Actually having an MBA is actually a good start if you just like to sit and be in the corporate world until you retire but it's a different story when you're starting to think of owning a company. Being immersed in the actual business will give you more prospect of companies wanting to hire you than of having an MBA but, there are companies that value the traditional education and the knowledge that you acquire there. But to be honest, many don't rely on them anymore as it's like the company is the one pushing employees to have MBAs than graduating with an MBA then getting hired.

Quote from: bakasabo on April 29, 2024, 03:47:54 AM

If someone thinks, that after getting MBA, his company will be more successful than other on the market, then such person will be surprised to find out that market is rules not by the level of diploma, but by people.

Exactly, there is more to see and experience the actuality of how brutal the real competition in the world of business is. But don't get scared with that, you'll eventually get to have colleagues and connections that will help you out with that. Getting an MBA is going to give you a lot of connections in the academe, professors, admins and staff of your institution and apart from that, the classmates that you have been with your batch could also be one of the greatest connections that you'll ever have as you network with them.

bakasabo

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MBA is nothing if you dont know how to use knowledge or havent developed right set of skills for business. A lot of MBA students know theory, but when they are given tasks, they cant do anything, because they dont have any experience. If someone thinks, that after getting MBA, his company will be more successful than other on the market, then such person will be surprised to find out that market is rules not by the level of diploma, but by people.

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Quote from: Albarq on April 27, 2024, 05:46:08 PM

By having this degree you are expected to be more advanced than those who don't have that degree.

You still need to have at least a little background knowledge so a MBA would be extremely useful albeit it is not necessarily a requirement to build a company. I know lots of businessmen who did not have educational attainment but started a business and when their business grew they decided to go and study.

The point is if you have the chance to study then I say go for it but otherwise don’t be discouraged if you can not afford to have a degree.

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It is generally better for you to know as much as possible before opening a company. Getting an MBA will definitely help you because you will learn various business concepts and techniques. The only advantage that there is with going straight into a company is that you will save yourself the stress and time and just go right into practice. But my advice is that one should be fully equipped so they can perform at maximum productivity.

Topic: Getting an MBA before starting a company or directly starting a company? (Read 1136 times)