is an MBA necessary to open own business?

[Harley Buckshot]

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

[qiniz]

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?

[nicky.smth]

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

[Big_Tymer]

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.

[Jizzacked]

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.

[qiniz]

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?

[elite_lifter]

I know ALOT of successful business owners who do not have a degree.

[Irongrip400]

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.

[Cardfan]

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.

[Harley Buckshot]

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.

[Hypertrophy]

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.

[Cardfan]

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.

[240 is Back]

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.

[Cardfan]

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.

[Bluto]

why would you have to be in the nba to do business i dont get it

[Harley Buckshot]

bluto - how old are u and what is your occupation.

[elite_lifter]

why would you have to be in the nba to do business i dont get it

just keep collecting your welfare check

[Dreadlord]

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.

[triple_pickle]

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

[Dreadlord]

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

[triple_pickle]

not necessary but a good backup plan

definitely increases the probability of succeeding in business

[Dreadlord]

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

[triple_pickle]

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

[Dreadlord]

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.

[elite_lifter]

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.