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Why MBAs Fail at Entrepreneurship
By SiliconIndia | Tuesday, 25 October, 2011
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Bangalore: While people think getting an MBA is the ultimate thing to do before bootstrapping or join a company. While they might be good at most of the things they do, they might fail at entrepreneurship. And the only time MBAs are useful is when they are people who are experienced or have connections. Here are a few reasons why MBAs fail at start ups or entrepreneurship.
Lack of Technical Knowledge: MBAs lack technical knowledge particularly when it comes down to web applications sector. In many situations, entrepreneurs do not bother hiring expensive MBAs instead simply bootstrap.
Classroom Business Education isn't enough: Cracking case studies, PowerPoint presentations, acing jargons and arcane charts doesnât guarantee you skills and knowledge required to help run a company. You need firsthand experience.
Execution of Ideas: VCs do not care how well you can make PowerPoint presentations unless you execute the ideas you portrayed. MBAs also tend to prioritize funding over execution which falters their working.
MBAs Focus on Money Making Jobs: Observe the beeline for employment in the investment banking and consultation sectors. Such academe outlook keeps grads cut off from veracity on the ground.
Lofty Ideals about Jobs: Candidates are forced to spend money beyond their budget for an MBA just to end up in high paying jobs. But that does not mean you can expect high end pays or jobs. You need to buck up and work even on the pettiest of jobs as entrepreneurship is the truest system based on capacity. Be modest and aware of your flaws, and put your zeal for idea show instead of your aspirations for dollars!
Team : MBAs are often said that they differ from the rest. While a team may consist of students from various backgrounds, people usually mark down unrepresented functions like tech and marketing. The person next to you on the team is not a bad partner!
Lack of Technical Knowledge: MBAs lack technical knowledge particularly when it comes down to web applications sector. In many situations, entrepreneurs do not bother hiring expensive MBAs instead simply bootstrap.
Classroom Business Education isn't enough: Cracking case studies, PowerPoint presentations, acing jargons and arcane charts doesnât guarantee you skills and knowledge required to help run a company. You need firsthand experience.
Execution of Ideas: VCs do not care how well you can make PowerPoint presentations unless you execute the ideas you portrayed. MBAs also tend to prioritize funding over execution which falters their working.
MBAs Focus on Money Making Jobs: Observe the beeline for employment in the investment banking and consultation sectors. Such academe outlook keeps grads cut off from veracity on the ground.
Lofty Ideals about Jobs: Candidates are forced to spend money beyond their budget for an MBA just to end up in high paying jobs. But that does not mean you can expect high end pays or jobs. You need to buck up and work even on the pettiest of jobs as entrepreneurship is the truest system based on capacity. Be modest and aware of your flaws, and put your zeal for idea show instead of your aspirations for dollars!
Team : MBAs are often said that they differ from the rest. While a team may consist of students from various backgrounds, people usually mark down unrepresented functions like tech and marketing. The person next to you on the team is not a bad partner!
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