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by tgreene73 » Thu May 13, 2010 1:21 pm
I am a Psychology major who has worked in IT for the last 12 years and am considering getting an MBA because I would like to get a good foundation in business management before/while launching a few business ventures I've been planning. I am writing because I am wondering if an MBA a valuable tool for an entrepreneur?? I know there are schools that have it as a major but will I gain better experience just taking the money I would have used for B school and venturing out??? -Just looking to start a dialogue. Thanks T
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Source: — Ask Stacy Blackman |

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by Lisa Anderson » Sat May 15, 2010 9:30 am
Dear tgreene73,

You will find folks who will present strong arguments for both paths you present. I think it all depends on what you feel you need to give you the best chance for success. Do you feel you are lacking in some knowledge and skills that an MBA program would provide in a 22 month timeframe? An MBA will certainly give you the knowledge to set up your business, write a business plan to secure funding, and operate/grow your business effectively. Or do you feel you are a strong on-the-job learner who knows how to use resources to learn from others' mistakes? Perhaps it would be helpful to speak with a few entrepreneurs and ask them what they wish they had known before they started their businesses? If all say the same things that point to getting the education, then that might help in making your decision.

Good luck,
Lisa
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