In a confab with a young budding entrepreneur, Mr. X, I asked curiously, ‘What are your qualifications? Are you an MBA? ‘Well I am not an MBA, neither do I regret not taking this degree’, was a cool response. ‘I see, but don’t you think an MBA helps you understand the very basics of business, marketing, finance, operations and’….’yes it does, but only to some extent,’ he interrupted. Getting to learn about all this is good, but running a business is a different game.

I would hire someone to take care of finance, marketing, or whatever I am not good at. But no one can teach me how to run a business. Entrepreneurs are born, you know,’ was the candid explanation. ‘Infact any knowledge is good per se but tell me, is it prudent to spend 2 years full time and more than 4 lacs studying for the MBA. Too costly I think. Spend the same time and money starting a business and I bet you, even failing in the venture will teach you far better lessons. Take my word, an MBA would help an entrepreneur, it will not help  you become one.’

 So Mr. Entrepreneur has the curtains drawn on the hapless ‘MBA’ degree.

In fact I too think the MBA does not carry that much value for most entrepreneurs. It is a better investment for those wanting to get an MNC (M Not Creative) job. However lets have a balanced perspective.  When you are looking for a business loan, your MBA degree definitely gives you a leg up. Being on the campus you can develop great contacts in the industry.  If your college has an incubation cell, your MBA becomes much more worth the time and investment.  Incubation cells usually give preference to their own students so you can be better eligible. Incubators can give you all facilities such as office space and other required infrastructure (at a nominal cost); mentoring from experts, and can facilitate finance for the venture. Also if you are looking for a co-founder, a college friend is your most trusted bet. The benefits can be many. The point I am trying to make is, you have got to master the MBA and not the other way round. .