How to Make Business School Count For Entrepreneurs
According to Inc.com, critics argue that business school wastes time, money and creativity. Business school stifles entrepreneurship, they say. After all the top entrepreneurs in the business world don’t even have college degrees. But if you decide to ignore the naysayer, it is possible to live out your MBA and entrepreneurial dreams. Although Jay Bhatti, the co-founder of spock.com generally agrees that business school gets in the way of entrepreneurs, he does believe that there are ways to do both. Here are his pointers:
His first tip: only get an MBA from a top 5 school. Bhatti asserts that as expensive and time-consuming as business school is, unless you’re learning from the top professors, students and alumni, it’s just not worth it. That being said, aim for Harvard, Wharton, Stanford, MIT or Columbia. As a possible sixth option, Babson solely focuses on entrepreneurship.
If you’re already deep in classes at a school not on this list or really don’t want to go to any of these schools, Bhatti suggests you embark on as many “tech treks” as you can. A tech trek is a winter or summer break trip to the hot-spots in the tech world such as Silicon Valley and New York. These will allow you to interact and network with top entrepreneurs.
Next, tailor all of your electives and classes to fit a startup idea or theses. Don’t waste your credits in classes you know won’t relate to what you hope to do. Each course you take should push you towards your specific dream company. For instance, if you know you don’t want to start a finance company, stop taking finance courses!
The third and final tip: save all the money you can during school because when you begin to launch your company, you’re going to need it. Don’t live extravagantly, waste money on luxury apartments or take lavish vacations. Stay focused on your entrepreneurial dream; don’t get sidetracked into working at a secure job just to pay off loans. After graduation, you should either immediately delve into construction your own company or join another start-up business that would act as a learning experience for your own start up.