So you’re thinking you want an MBA. Earning your MBA can cost thousands of dollars. Contrast that fact against starting your own company in the Internet age which can cost as little as a couple of hundred dollars. Quite a difference, right?
And while being an MBA graduate still has a certain cachet in the professional world, entrepreneurial college dropouts like Steve Jobs and Mark Zuckerberg did just fine without.
That MBA on your resume might not distinguish you from your peers now as much as it once did, but they have their upsides. Let’s take a look at the bad and the good of earning an MBA today.
Both a start-up and an MBA will offer you a business education. You’ll be exposed to all facets of participating in, and in some cases running, an organization. Due to the time constraints, it’s difficult to do both at the same time.
That said, does the business knowledge you receive either from an MBA or a start-up supercede each other? Here are the essential pros and cons:
The University of Michigan has the Zell Lurie Institute for Entrepreneurial Studies. The University of Chicago has the Polsky Center for Entrepreneurship. And Wharton has the Snider Entrepreneurial Research Center. As more and more business schools add entrepreneurship to their list of concentrations, many people are asking the question: Can entrepreneurship be taught? It’s sort of like the old chicken-or-the-egg debate: Which comes first? Do aspiring entrepreneurs need business school to succeed? Or is entrepreneurship a skill that’s innate, and the reason why many of today’s most successful business people (aka Steve Jobs, Bill Gates, and Richard Branson) don’t even