This article was published in the 16-August-2012 issue of Finweek Magazine
You’ve probably heard the age-old debate “Can you teach entrepreneurship?” As an entrepreneur myself, I recognise that not everyone is an entrepreneur and even the best teaching can’t make a successful entrepreneur out of someone who isn’t wired that way. However if entrepreneurship is in your blood, an MBA can encourage you to become a successful entrepreneur. How? Here are just 4 of the many ways:
1. By giving you the confidence to handle the many facets of a business and to start your own business,
2. By helping you develop your leadership skills,
3. By helping you become knowledgeable about other industries, so you can spot the opportunities they hold for successful new businesses, and
4. By building your MBA network where you can find business partners, clients, staff and business opportunities
On the other hand, the case study method and MBA training can bring out anti-entrepreneurial traits such as:
1. (Over)analysis (MBAs are notorious for paralysis-analysis),
2. Not trusting your instinct, and
3. Finding fault with businesses.
These in turn can make you risk-averse and destroy the optimism, resilience and opportunity-seeking that you need to be a successful entrepreneur.
What’s your view? I’d love to hear your thoughts.
PS In our Article Zone on MBAconnect.net we have an interesting article called “Should Entrepreneurs Seek MBA Degrees?” about this very issue, so take a look.