Home







Should you consider an MBA if you plan to become an entrepreneur?

Entrepreneurs use MBA to: Network, Refine Business Plan and for Seed Funding

I have seen several people start companies while at Business School or immediately after they graduated. They use their time at school to develop and refine their plan through discussions with classmates, professors and by the feedback they gain through entering Business Plan competitions. Not only do they get feedback from such competitions but often also the opportunity to network with potential investors and the money they won from these competitions often serve as seed money for them to develop their idea further. For example, the Said Business School at Oxford University has the SBS Venture Fund which funds the best entrepreneurial business ideas from the School’s students. The £1million fund aims to promote the School’s students’ education in research, due diligence and other aspects associated with investing in early-stage businesses; the Fund has now invested in several established companies.

Passion and Enthusiasm vs. MBA

Most people still wonder whether passion and enthusiasm makes an entrepreneur successful or whether a person needs an MBA to take their venture to new heights? This is one question which has always had two very radical schools of thought for & against it, and understandably so, because in recent history, we have seen so many intelligent individuals like Bill Gates (Microsoft) and Steve Jobs (Apple) who dropped out of school to start hugely successful business ventures; and on the other side there are successful entrepreneurs like Scott McNealy of Sun Microsystems (Alma Mater Stanford Business School) and Chris DeWolfe of My Space (Alma Mater University of Southern California) who have got their management degrees before setting up equally successful ventures which have revolutionized industries.

Then, maybe, the answer to this question is found in these lines by Thomas J.Watson; the president of IBM, who oversaw the company’s growth into an international force from 1920’s to the 1950’s and a man who’s one of the first self made industrialists in modern history- “In order to be a success in business, there is one thing you must do. You cannot be successful without it. That is WORK. I have not told you anything new. Everyone knows that you cannot be successful in anything without work. Why does not everyone work? Because some lack the one thing that makes men want to work - ENTHUSIASM. That is something no one can give you. You must acquire it yourself, and the only way that you can become enthusiastic about anything is to have a thorough KNOWLEDGE of it. You have never seen an enthusiastic man who was lazy.”

So, if Thomas is to be believed, the right mix is one of enthusiasm and knowledge, because an entrepreneur needs both the skills and knowledge to effectively start and grow a company. Therefore, if you are someone who has a product idea or a brilliant technology which you think can revolutionize the industry but you aren’t confident about your leadership and management skills required to convert this idea into an organization; then an MBA with entrepreneurial emphasis could be the missing link for you. However, to emulate the likes of McNealy or De Wolfe and to attain an MBA degree from a top institute in the world is indeed a very a difficult task. Over the years the selection norms in the tier-1 colleges have been exceedingly stringent and as a result, the numbers have been low. The acceptance rates (from all applications received) for MBA courses in some of the Ivy league & equivalent colleges this year look like this-  Columbia- 15%, Stanford-8%, Harvard- 12%, and Yale- 14% (Source: official websites of said schools).

How to pick top MBA programs for Entrepreneurship?

It’s equally crucial then, that one is very mindful of what they are looking to get out of an MBA program and choose the school/course accordingly. . On that note, let’s look at some top MBA programs for entrepreneurship; Harvard Business School has the highly credible “Entrepreneur-in-Residence program” as a result of which in 2008, nearly 50% of its MBA graduates evolved into successful entrepreneurs. This program adds real life experience to the course curriculum by inviting accomplished entrepreneurs to advise MBA students interested in starting companies and work with faculty on research and course development - a crucial and great value-add for a student.

There are other top-tier schools like Stanford School of Business and Columbia Business School who have entrepreneurship as a major component in their academic courses. Columbia, in its MBA and EMBA course, has charted subjects like financial social ventures covering topics like ‘Entrepreneurship Marketing’ and ‘Corporate Finance Entrepreneurship’ taught by the faculty such as John Donaldson, Antony Bugg Levine and Rick Larson (Columbia Entrepreneurship Directory). Likewise, Stanford has organized a four week long summer institute for entrepreneurship (SIE) this summer, form June 19 - July 15, 2011 (http://www.gsb.stanford.edu/sie/) - to be facilitated by an equally stellar faculty.

Therefore, if you are an aspiring entrepreneur who is considering an MBA degree to propel your entrepreneurial journey; whether with a startup or as part of a family owned legacy business- you need to be very mindful of what course, institute(s) and specialization(s) you zero in on to pursue this goal.

Remember, one man’s meat is another’s poison… Eat carefully.

About Kavita Singh

Kavita Singh has over 13 years of experience working in the U.S. and India. Kavita is the CEO of FutureWorks Consulting. She is an MBA graduate of Columbia Business School and holds a BA (Hons) from Oxford University. She has worked for leading companies such as Mars, Colgate-Palmolive and Web MD at higher management and consulting roles.
Kavita writes for elite publications like the Hindustan Times

FutureWorks
FutureWorks Consulting offers array of services for both undergraduate and postgraduate admissions at leading institutes abroad. FutureWorks Consulting also runs NDTV.com’s study abroad center.




2019 MBA Research Guide - Choose your MBA

"I attended three MBA Tours in US and Canada. I could just scratch the surface compared to what the guide has included. Thank you guys for the amazing book"

F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach. 

Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?

We cover them all through our extensive analysis. 

Pages: 500


+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method 
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour


Comprehensive MBA Research Guide:
 Includes 
Top MBA Programs by 19 Specializations:
+ General Management
+ Finance
+ Consulting
+ Marketing
+ Strategy
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Accounting
+ Energy
+ Non-Profit
+ Wine
+ Sports
+ Sustainability
+ Leadership Development
+ Military &
+ International

+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)    
Top 31 MBA Programs in United States – Total Cost & Salary (2017)    

Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary    
Top 20 European MBA Programs (Based on Actual Salary Increase)    
Top 20 European MBA Programs (Short-term return on investment)    
Top 20 Affordable European MBA Programs    
Top 10 MBA in UK – Salary & Fee (2018)  
Top MBA Destinations Based on Happiness Index    
Top MBA Destinations based on Innovation Index    
Top 10 MBA Job Markets based on Cost of living and Purchasing Power    
Top MBA Destination: By Economy    


+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA (2018)  
MIT vs. Stanford MBA   (2017)
Haas vs. Ross MBA    
(2018)
Kellogg vs Ross MBA    
Booth vs Wharton MBA    
MIT Sloan vs Tuck MBA    
IMD vs. INSEAD MBA    
(2017)
IIMA vs. ISB   
(2017)

Harvard vs. Stanford MBA (2017)

+ MBA in France (2018)
Top Industries in France   
Top MBA Programs in France  

  Location   
  Ranking   
  Class Profile   
  Cost   
  Curriculum   
  Post-MBA Salary

Scholarships in France
External Funding 


+ MBA in the UK (2018)
Top Industries in the UK   
Top MBA Programs in the UK

  Location   
  Ranking   
  Class Profile   
  Cost   
  Curriculum   
  Post-MBA Salary

Scholarships in the UK
External Funding 

New Visa Rules: Post-Brexit

Download F1GMAT's MBA Research Guide (2019)

2019 MBA Research Guide - Choose your MBA

"I attended three MBA Tours in US and Canada. I could just scratch the surface compared to what the guide has included. Thank you guys for the amazing book"

F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach. 

Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?

We cover them all through our extensive analysis. 

Pages: 500


+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method 
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour


Comprehensive MBA Research Guide:
 Includes 
Top MBA Programs by 19 Specializations:
+ General Management
+ Finance
+ Consulting
+ Marketing
+ Strategy
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Accounting
+ Energy
+ Non-Profit
+ Wine
+ Sports
+ Sustainability
+ Leadership Development
+ Military &
+ International

+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)    
Top 31 MBA Programs in United States – Total Cost & Salary (2017)    

Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary    
Top 20 European MBA Programs (Based on Actual Salary Increase)    
Top 20 European MBA Programs (Short-term return on investment)    
Top 20 Affordable European MBA Programs    
Top 10 MBA in UK – Salary & Fee (2018)  
Top MBA Destinations Based on Happiness Index    
Top MBA Destinations based on Innovation Index    
Top 10 MBA Job Markets based on Cost of living and Purchasing Power    
Top MBA Destination: By Economy    


+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA (2018)  
MIT vs. Stanford MBA   (2017)
Haas vs. Ross MBA    
(2018)
Kellogg vs Ross MBA    
Booth vs Wharton MBA    
MIT Sloan vs Tuck MBA    
IMD vs. INSEAD MBA    
(2017)
IIMA vs. ISB   
(2017)

Harvard vs. Stanford MBA (2017)

+ MBA in France (2018)
Top Industries in France   
Top MBA Programs in France  

  Location   
  Ranking   
  Class Profile   
  Cost   
  Curriculum   
  Post-MBA Salary

Scholarships in France
External Funding 


+ MBA in the UK (2018)
Top Industries in the UK   
Top MBA Programs in the UK

  Location   
  Ranking   
  Class Profile   
  Cost   
  Curriculum   
  Post-MBA Salary

Scholarships in the UK
External Funding 

New Visa Rules: Post-Brexit

Download F1GMAT's MBA Research Guide (2019)




Navigate F1GMAT


F1GMAT Services (MBA Applicants) 


F1GMAT's Books

MBA Salary(Latest Salary Data)
 
MBA Admission Interview Tips

Funding 

Deadlines

MBA Application Essays


MBA Recommendation Letter

GMAT Tutorials

GMAT Question Bank

Top MBA Programs

Get F1GMAT's Newsletters (Best in the Industry)
Included in the Newsletter:

  • Ranking Analysis
  • Post-MBA Salary Trends
  • Post-MBA Job Function & Industry Analysis
  • Post-MBA City Review
  • MBA Application Essay Tips
  • School Specific Essay Tips
  • GMAT Preparation Tips
  • MBA Admission Interview Tips
  • School Specific Interview Tips
  • Funding Guidance and
  • Special Consultation Service (only for Subscribers)

Subscribe to F1GMAT's Newsletter