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Getbig Bodybuilding Boards => Gym/Stores/Industry Business Board => Topic started by: Harley Buckshot on September 07, 2008, 04:45:48 PM
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discuss...
Just get a bach. degree in bus will teach u terminlogoy and basics.. So whats point in MBA unless u try to get a job somewhere else
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interesting thread, would be nice to hear A23 or Xfactor perspective on this...
im hopin to get an MBA degree by the time im 30, are there any educated GB'ers on here?
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interesting thread, would be nice to hear A23 or Xfactor perspective on this...
im hopin to get an MBA degree by the time im 30, are there any educated GB'ers on here?
me
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i am in an mba program now, no its not necessary to open your own business.
it is most useful for getting into upper management in a large firm.
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the only thing required is startup capital, the ability to complete some relatively simple forms or pay someone to incorporate for you... and whatever service/product you have to offer.
I know more people without an mba (including myself, dropped out of college) that run businesses than those that have one. the majority of those with degrees tend to go the route of getting into the fold of an existing business.
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i am in an mba program now, no its not necessary to open your own business.
it is most useful for getting into upper management in a large firm.
nice work, whats your background (age etc) and which school are you going to?
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I know ALOT of successful business owners who do not have a degree.
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You don't need any kind of degree to own a buisness. I have a psych degree and some grad school and it hasn't helped(or hurt) me in owning my own buisness. Like someone else in the thread said, I know many buisness owners who do not have higher educations. I would recommend getting a lawyer to draw up your llc, inc or whatever you decide to go with.
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I know ALOT of successful business owners who do not have a degree.
Bump. I'm an MBA candidate now and alot of business owners I know don't have a graduate degree, and a couple of guys I know in this program have already started and sold a couple of successful businesses.
I should say, though, that it can be very beneficial. I intend to do my own thing starting early next year and I feel much more confident about that now than when I started grad school.
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Its just that college provides a structed environment to "educate" oneself --- sure, there is a public library, google, or other resources for "learning" business - but it seems the most practical. And, it shows u have dedication. I know many successful business owners "without college", but i also know a lot more ditch diggers without college. Its all relevant to the specific scenario one could say. I was just thinking along the lines of after sincerely becoming interested in pursuing further education, then a mba may possible open more avenues for success.
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Its just that college provides a structed environment to "educate" oneself --- sure, there is a public library, google, or other resources for "learning" business - but it seems the most practical. And, it shows u have dedication. I know many successful business owners "without college", but i also know a lot more ditch diggers without college. Its all relevant to the specific scenario one could say. I was just thinking along the lines of after sincerely becoming interested in pursuing further education, then a mba may possible open more avenues for success.
Harley,
I went to college for science, and ended up starting a technical business about 10 years later, with no formal business education. Honestly, I am glad I didn't know what I was getting in to, otherwise I would have never done it!
I do not know many successful business people who actually went to school for business. Most were trained in another field and just saw the opportunity.
The 3 key qualities that I have observed in successful business people are 1) drive, 2) focus, and 3) persistence.
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Education is never a bad investment. A hundred cowboys on here will tell you it isn't necessary, and for some people it isn't. It can not hurt, and you will undoubtedly make social contacts that will aid you throughout your career.
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I bought "The Ultimate Small Business Guide" and it was a very useful book during my first year in business. Lots of ideas, things I might have overlooked, detail-oriented stuff.
I have an MBA also. I found it was more of a bigger picture degree. Yes, you learn about accounting, finance, economices, marketing, and mgmt... but nothing about sitting down and running your own thing (although that class was offerred).
IMO, the biggest advantage of the MBA was seeing sustainable competitive advantages. Three years afer graduation, I still walk into any room and automatically just smell a few opportunities. I talk to someone about their job - they can be a roofer, signmaker, mechanic - and my mind automatically makes connections for opportunities I can find in introducing them to someone, or some joint project.
It teaches you to smell opportunities, simply put.
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I bought "The Ultimate Small Business Guide" and it was a very useful book during my first year in business. Lots of ideas, things I might have overlooked, detail-oriented stuff.
I have an MBA also. I found it was more of a bigger picture degree. Yes, you learn about accounting, finance, economices, marketing, and mgmt... but nothing about sitting down and running your own thing (although that class was offerred).
IMO, the biggest advantage of the MBA was seeing sustainable competitive advantages. Three years afer graduation, I still walk into any room and automatically just smell a few opportunities. I talk to someone about their job - they can be a roofer, signmaker, mechanic - and my mind automatically makes connections for opportunities I can find in introducing them to someone, or some joint project.
It teaches you to smell opportunities, simply put.
well said. Looking forward to that.
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why would you have to be in the nba to do business i dont get it
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bluto - how old are u and what is your occupation.
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why would you have to be in the nba to do business i dont get it
just keep collecting your welfare check
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interesting thread, would be nice to hear A23 or Xfactor perspective on this...
im hopin to get an MBA degree by the time im 30, are there any educated GB'ers on here?
One of the good points of getting an MBA are the contacts you make. The right people can hook you up with angel investors, advisers etc.
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as one of my econ professors said "you can get an c in my class, and an a in life, or the other way around" so no, an mba is not necessary
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as one of my econ professors said "you can get an c in my class, and an a in life, or the other way around" so no, an mba is not necessary
not necessary but a good backup plan
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not necessary but a good backup plan
definitely increases the probability of succeeding in business
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definitely increases the probability of succeeding in business
no doubt.
However if you're one of the fortunate few like Gates/Dell/Jobs and have a great idea at the right time the world is yours
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no doubt.
However if you're one of the fortunate few like Gates/Dell/Jobs and have a great idea at the right time the world is yours
yes, gates et al are college dropouts but the number of people who try and succeed this way is close to zero percent
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yes, gates et al are college dropouts but the number of people who try and succeed this way is close to zero percent
it's actually more than you think. Most of them just never get the publicity. Quite few guys/gals I knew from grad school are doing very well for themselves. They're not in the class of a Buffet or gates but they're raking it in. Sometimes the right niche can reap huge dividends.
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yes, gates et al are college dropouts but the number of people who try and succeed this way is close to zero percent
Sorry, don't agree with "zero percent" do some reading.
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it's actually more than you think. Most of them just never get the publicity. Quite few guys/gals I knew from grad school are doing very well for themselves. They're not in the class of a Buffet or gates but they're raking it in. Sometimes the right niche can reap huge dividends.
that's quite possible, guys with less formal education may be willing to risk more, work for somebody, etc. i know a chicago mba who has been "breaking even" for the last 15 years. some years ago someone offered to buy his company for $1m but he said no as he wanted to be a "ceo" ::) ::) ::)
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nice work, whats your background (age etc) and which school are you going to?
haha, its an aacsb accredited university in texas. not going to give out more info than that on getbig
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Sorry, don't agree with "zero percent" do some reading.
that depends on how you define "successful", i was talking about bill gates type of caliber, i am sure there are many people who do just fine with a ba degree
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I bought "The Ultimate Small Business Guide" and it was a very useful book during my first year in business. Lots of ideas, things I might have overlooked, detail-oriented stuff.
I have an MBA also. I found it was more of a bigger picture degree. Yes, you learn about accounting, finance, economices, marketing, and mgmt... but nothing about sitting down and running your own thing (although that class was offerred).
IMO, the biggest advantage of the MBA was seeing sustainable competitive advantages. Three years afer graduation, I still walk into any room and automatically just smell a few opportunities. I talk to someone about their job - they can be a roofer, signmaker, mechanic - and my mind automatically makes connections for opportunities I can find in introducing them to someone, or some joint project.
It teaches you to smell opportunities, simply put.
You dont need to have an mba to learn all of that, just study business & economy. As for the mba, i wanted to go for one in usa, had (and maybe i still got it!) the chance and money to 2 of your finest uni's, but at the same time i was offered to visit china, and well, 4 years later im still thinking about the mba while i see dozens of chinese stuff arriving in 40 hc containers i buy every month ;D
Luck? Good for business? Im not sure but i know theres god protecting me, because i give credit straight from my pockets just like if i were a jew lending money to my customers haha and so far, none of them has failed (thanks god for equifax and all the companies willing to give you people's credit info).
On a final note, internet is pretty important in the success of a business these days, the cost of contacting potential customers is just the cost of having a broadband connection.
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that's quite possible, guys with less formal education may be willing to risk more, work for somebody, etc. i know a chicago mba who has been "breaking even" for the last 15 years. some years ago someone offered to buy his company for $1m but he said no as he wanted to be a "ceo" ::) ::) ::)
Most successful people will spends a few years working for someone and then branch out on their own. The more experience/knowledge you have - the greater the likelihood that you will be able to keep the business afloat during the trial period. Most entrepreneurs fail because they lack the knowledge/fail to keep their finances in check
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I think it depends on the business. You don't need any degree but an MBA would help with some professions.
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MBA and executive MBAs are better suited for people who want to move past middle management into executive positions within large companies. A person doesn't need one to start and/or operate a business but in would be to the owners advantage tremendously.
V/r
Wiggs
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interesting thread, would be nice to hear A23 or Xfactor perspective on this...
im hopin to get an MBA degree by the time im 30, are there any educated GB'ers on here?
MBA in today's business world gives you a distinct advantage. Whether running a company, owning a company, or an executive role in a company. A few things to consider
Upon completion of an MBA (pending you excel in the program) you will be heavily recruited. Richard School of Ivey (where I went) have companies like GE, Google, Microsoft, BCG, Bain, Deloitte all recruiting heavily. There is no way you could have one of these marquee companies giving you $50k signing bonus, paying you $200k a year, at 30 years old without an MBA.
Most importantly if your final goal is to run a large organization (CEO/Pres.) you are in a much better position to do so with an MBA. Gives you the skills to solve real business problems right down to understanding every aspect of the financials of the business.
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I have an MBA from a tier one school. Not needed to run a biz. Might even hurt you. Lots of MBAs try to get everything "textbook right" before they launch, missing a window of opportunity that a ballsier "non MBA" might hammer into.
It'll help you with identifying sustainable comp advantage (someone said that already) as well as developing financials that'll impress angel investors or VC's enough to lend you cash.
Good post!
This is key!! I was part of a small software company that was seeking venture capital. We were able to write a great business plan and presented it well to the firm. Geeting this capital was one of the most difficult, stressful things I have ever done in my life. It just wouldn't have been possible without an MBA. We ended up going public (also a daunting task) 5 months ago, hence all the vacations :)
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that's quite possible, guys with less formal education may be willing to risk more, work for somebody, etc. i know a chicago mba who has been "breaking even" for the last 15 years. some years ago someone offered to buy his company for $1m but he said no as he wanted to be a "ceo" ::) ::) ::)
Unlikely he wouldn't sell if he wasn't doing well. Probably code for: I'm not going to tell you how much money I make.
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Don't I know it. VC money is tough money, and the pay-outs can almost cripple you. It's a dance with the devil.
We almost got our pharma-consult company off the ground. The business plan had finished third in a national comp in school. All we needed was VC money. Couldn't get it. Rather, couldn't get it without giving away the bank. Our biz was all IP and other intangible assets -- nothing you could put on a balance sheet. VC's saw it as too risky when it came to market cap evaluations, so they wanted huge levels of controls. Just too much to run it effectively. Shame. But, there's other ideas out there.
Did you wrap up at Ivey in the nineties, or after the tech bust? Ivey's a pretty good school, but they've been hurting in the ranks lately. That new one-year MBA isn't helping. Don't you hate how you give a B-school tens of thousands to buy a piece of their brand, only to have them prostitute it after you've graduated?
Funny you mention getting a pharma company off the ground. My best friend that graduated with me just took a pharma company public.Did it with virtually no help too. They are in phase 3 now and he's got 3 million shares. Which is very generous!! I think they are at .22 as of today so not worth much but he will be retiring in 3-4 years at 37.
I finished in 2003. For me it was a great time as there were many opps that presented themselves upon completion of my program. Regardless of the ranking some great companies to this day recruit quite heavily out of Ivey some of the most progressive, forward thinking companies as well. The one year is not a good thing and needs to be alienated we are in agreement there. I wish I could discuss my first case with my first company after graduating, as it was a neat venture. That would be a bad move though as you know ;)
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u suckers are fools for going to university and studying ya lives away
college degree is not the end all be all in workm place
look at the will smith movies persuit iof happiness-he ddint have a college degreee and he goa great job on wall st-and then they make a famous movie on his life
look at successful personal trainers-gunter peterson don have college degree
im not sayingt here anythign wrong w/ college im justs aying u can do well in life and not waste it studying and sitting in lecture halls
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u suckers are fools for going to university and studying ya lives away
college degree is not the end all be all in workm place
look at the will smith movies persuit iof happiness-he ddint have a college degreee and he goa great job on wall st-and then they make a famous movie on his life
look at successful personal trainers-gunter peterson don have college degree
im not sayingt here anythign wrong w/ college im justs aying u can do well in life and not waste it studying and sitting in lecture halls
Naturalwonder. I'm not sure you know what you're talking about. While getting an MBA you become quite involved with unique business cases and learn how how to articulate and think quick on your feet in front of a large audience. You get a significant amount of practical learning. From a pedagogical standpoint it truly is different.
A. If I asked to to create a strategy on gaining 9% market share of let's say a very tough ERP market over a three year time frame, you couldn't do it. You wouldn't know how to write even a high level business plan.
B. You could never get a job making 200k and have them pay you a signing bonus just to join them.
Who is the sucker now?
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Naturalwonder. I'm not sure you know what you're talking about. While getting an MBA you become quite involved with unique business cases and learn how how to articulate and think quick on your feet in front of a large audience. You get a significant amount of practical learning. From a pedagogical standpoint it truly is different.
A. If I asked to to create a strategy on gaining 9% market share of let's say a very tough ERP market over a three year time frame, you couldn't do it. You wouldn't know how to write even a high level business plan.
B. You could never get a job making 200k and have them pay you a signing bonus just to join them.
Who is the sucker now?
true...i have no idea what erp even mean...xfactor-in you opinion do u feel its possible to make a good living without more than just an associate?
i guess reason i get so fueled up about university is that i see so many slack jawed yokels out there w/ their fancy college degress and they dont know jack shit about real world...yet i see people w/ no college and they are very successful
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the idea of having to ahve college degree is pushed down our throats so much that im sick of it
i feel u can dow ell w/out school
i have nothjing against people who do well in life w/ colelge degress that is great but i just dont get these fools that live and die for school and feel thjeir future depend on it
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true...i have no idea what erp even mean...xfactor-in you opinion do u feel its possible to make a good living without more than just an associate?
i guess reason i get so fueled up about university is that i see so many slack jawed yokels out there w/ their fancy college degress and they dont know jack shit about real world...yet i see people w/ no college and they are very successful
Oh my god you absolutely can make money in business with or without education. I am just stating the fact that an MBA will really help you excel and accelerate your career.
In my eyes any education is good. I am a constant student, therefore I read books upon books, mainly non-fiction business books. Try a few from the harvard school of business. Innovators Solution is a great one.
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Funny you mention getting a pharma company off the ground. My best friend that graduated with me just took a pharma company public.Did it with virtually no help too. They are in phase 3 now and he's got 3 million shares. Which is very generous!! I think they are at .22 as of today so not worth much but he will be retiring in 3-4 years at 37.
I finished in 2003. For me it was a great time as there were many opps that presented themselves upon completion of my program. Regardless of the ranking some great companies to this day recruit quite heavily out of Ivey some of the most progressive, forward thinking companies as well. The one year is not a good thing and needs to be alienated we are in agreement there. I wish I could discuss my first case with my first company after graduating, as it was a neat venture. That would be a bad move though as you know ;)
.22 cents per share...Where does the stcok trade? OTCBB? or the Pink Sheets..
I think you friend will have to postpone his retirement if the share price stays anywhere neat 22 cents
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.22 cents per share...Where does the stcok trade? OTCBB? or the Pink Sheets..
I think you friend will have to postpone his retirement if the share price stays anywhere neat 22 cents
You don't understand the pharma business. I said phase 3. They aren't producing, still R&D phase. It will hit 5-6 at a later date as it's a very unique patent.
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Oh my god you absolutely can make money in business with or without education. I am just stating the fact that an MBA will really help you excel and accelerate your career.
In my eyes any education is good. I am a constant student, therefore I read books upon books, mainly non-fiction business books. Try a few from the harvard school of business. Innovators Solution is a great one.
The thing is that people will think an education insn't needed because one guy out of a hundred was sucessful without it. On top of that, you've got people who're doing well with no education filling the minds of youngsters who're lazy with nonsense, such as "intuition is everything and education is nothing."
Fact is that an education, whether from the library or university, enhances your knowledge and makes you better off. Of course an MBA isn't needed to start a business. MBA is just for managers, or people in the financial fields be it accounting, finance or whatever to become executives, but of course it's damn useful for being a top level manager or executive.
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The thing is that people will think an education insn't needed because one guy out of a hundred was sucessful without it. On top of that, you've got people who're doing well with no education filling the minds of youngsters who're lazy with nonsense, such as "intuition is everything and education is nothing."
Fact is that an education, whether from the library or university, enhances your knowledge and makes you better off. Of course an MBA isn't needed to start a business. MBA is just for managers, or people in the financial fields be it accounting, finance or whatever to become executives, but of course it's damn useful for being a top level manager or executive.
Exactly. 1 out of thousand more like. Now look at the ratio of successful MBA's in the world.
Education will always trump.
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'Nuff said. I too am mum about things post-grad. Ivey is cream of the crop top 30 in the world, in my opinion. And I think it pulls better old money and has a richer alum than the other two decent schools in Canada. My friend graduated from Ivey in 03, or 02. Last name = Lemon. Maybe you knew her.
3 million shares to himself -- how many issued? Good luck to him. Hope he treats to you and the wife to a trip to Cuba with that money!
::)
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http://www.businessweek.com/magazine/content/06_12/b3976089.htm
Also, when you consider George Bush is the first US President to have one, it doesn't really make them that impressive. ;D
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http://www.businessweek.com/magazine/content/06_12/b3976089.htm
Also, when you consider George Bush is the first US President to have on, it doesn't really make them that impressive.
Our surprising research suggests that few execs who hit the very top have the degree
If you had one, you'd understand.
They just give you opportunitity awareness, and the skills to know what to do with it.
For example - you're a photog who does great work and is well known. The MBA would have you lying in bed every night with dozens of ideas going through your head about your own BBing media/film company. Everyone you'd meet in the industry would be a potential client or partner. Every BBer you do a favor for, you'd call him up for a return favor. After 5 years, you'd have the other top 5 photogs on each continent under contract with you, and you're earning residuals and blocking out other guys. I dunno how to describe it. You see loopholes everywhere. You see flaws in many things others do. You realize everything in stores, tv, etc is about marketing and selling.
It lets you see higher level opportunities, and know what to do with them. CEOs might not be MBAs, but they're surrounded by a team of MBAs and JDs ;)
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If you had one, you'd understand.
They just give you opportunitity awareness, and the skills to know what to do with it.
For example - you're a photog who does great work and is well known. The MBA would have you lying in bed every night with dozens of ideas going through your head about your own BBing media/film company. Everyone you'd meet in the industry would be a potential client or partner. Every BBer you do a favor for, you'd call him up for a return favor. After 5 years, you'd have the other top 5 photogs on each continent under contract with you, and you're earning residuals and blocking out other guys. I dunno how to describe it. You see loopholes everywhere. You see flaws in many things others do. You realize everything in stores, tv, etc is about marketing and selling.
It lets you see higher level opportunities, and know what to do with them. CEOs might not be MBAs, but they're surrounded by a team of MBAs and JDs ;)
The MBA doesn't give you any of that. A creative mind is responsible just as a degree in music isn't going to make you a successful songwriter.
There's no doubt that having one will get you into a middle level management position but the majority remain there.
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MBA in today's business world gives you a distinct advantage. Whether running a company, owning a company, or an executive role in a company. A few things to consider
Upon completion of an MBA (pending you excel in the program) you will be heavily recruited. Richard School of Ivey (where I went) have companies like GE, Google, Microsoft, BCG, Bain, Deloitte all recruiting heavily. There is no way you could have one of these marquee companies giving you $50k signing bonus, paying you $200k a year, at 30 years old without an MBA.
Most importantly if your final goal is to run a large organization (CEO/Pres.) you are in a much better position to do so with an MBA. Gives you the skills to solve real business problems right down to understanding every aspect of the financials of the business.
A MBA is not needed. You are stating having one helps you get recruited or work for other companies which is fine but one is NOT needed to own a company. You surround and make partners with people who have the experience and knowledge in specific fields. Starting a company comes from creativeness. Putting all the pieces together is something you have to do by having the best people with you. Trying to do everything won't work on a medium to large scale. If you plan to open a business with just you and maybe a couple other employees then you should be able to handle all the aspects related. But if you intend to start a business with more employees and more outsourcing then you will need help regardless.
Having a MBA may help but it is far from something you need.
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Sorry, don't agree with "zero percent" do some reading.
Elite made a name for himself in the business world by working volume, and with BJ's at 25 cents Elite made a lot of cash ;D
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I know for one thing I have done pretty good for myself and I barely graduated from high school. I am pretty confident from age 25 to 40 I made about as much money as anyone here the same age and I had the time of my life with NO MBA (not even sure what it is) and no college. I learned what I know by actually doing it not reading about it.
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If you had one, you'd understand.
It lets you see higher level opportunities, and know what to do with them. CEOs might not be MBAs, but they're surrounded by a team of MBAs and JDs ;)
Excellent point.
However an MBA is not always a pre-requisite for getting great ideas and discerning what to do with them. There are some amazing people all over the world who have built themselves up from virtually nothing. Mark Burnett (apprentice/survivor) is one. Alan Sugar (Britain) is another. Having said that - not everyone has the good fortune of having the level of creativity/confidence/luck some extraordinary individuals possess. They are a minority.
Having the right educational credentials can open a lot of doors and helps catapult you into a different level of performance.
To reiterate what 240 said - Anyone who has an MBA is very much aware of the positive effect it has in their life and what it has done for them.
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240 - I totally agree and understand where you are coming from, in regards to the benefits one can attain while going the extra length for the MBA. Perhaps its not necessary to own a business, but, i think it realistically prepares you to progress in whatever field you are interested in.
Thats kinda where im hangin now..
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I don't think you'll ever meet an MBA who thinks the degree wa a waste.
I have a teaching degree, it was a waste (although the skills are nice)
I have an AS is computer networking, I don't use it.
I have multiple computer certs (comptia and microsoft) which I don't use.
The MBA - I use every day.
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Is it necassary to have at least 3 to 5 years of working experience (pref. on management level) to enroll in a MBA program in the States or Canada?
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Is it necassary to have at least 3 to 5 years of working experience (pref. on management level) to enroll in a MBA program in the States or Canada?
only for Executive (fast-track) advanced MBA programs
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interesting thread, would be nice to hear A23 or Xfactor perspective on this...
im hopin to get an MBA degree by the time im 30, are there any educated GB'ers on here?
I don't think the degree it can "teach" you to be a good businessman, but it surely teaches you alot of valuable skills, among which working with people is not the least significant one. Definitely not a waist.
now, the hardest thing about a decent b-school is getting in...i tried for 3 years before finally getting accepted...and GMAT is a real bitch! >:(
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i am in an mba program now, no its not necessary to open your own business.
it is most useful for getting into upper management in a large firm.
Yes its good to get an MBA on your resume to move up the corporate ladder. If you want to focus on a specific area its better to get an MA.
Eg- An MA in finance as opposed to a MBA. An MA is more quantitative while MBA is qualitative