MBA VS. Starting a business
Hi all,
Before you all opine and tear me and my ideas to shreds, I just want you all to know that my goals differ from the goals most people have.
My only goal in life is to become a successful entrepreneur, something my father and forefathers have tried but never could succeed at (so succeeding as an entrepreneur is more than money it's a revenge story) - I don't need fancy titles or a fancy resume. I'd rather work at my no name start-up making decent money and take the chance of success than saying I work at Goldman or my dream is to be CEO of some Fortune 500 blah blah blah one day.
I've noticed one thing about the people that made it in business - most of them aren't MBAs although some are. The only real way to become fantastically wealthy entrepreneur and succeed is to build a sustainable company that you can IPO and have majority equity in - and whoever does that the quickest and delegates all other work to others in the company is pretty much a successful entrepreneur .
I have already tried a start-up and failed but I learned a lot. So I have an idea for a second company which is reverse engineered from the failures of the first. It requires much more money, the kind of money that's equal to a top MBA program, but it's much more possible to succeed although margins are low. But it's wildly scalable and totally BIG, and is very international in operations.
Should I go for it ? I don't think I have the academic brains to get into an Ivy League college for an MBA and my opinion has always been anything besides an Ivy League MBA or a college a few rungs down the rankings is useless (don't want to offend anyone here).
On the flip side, if I fail with the business I could be looking back 20 to 30 years from then thinking if I had gotten a decent MBA maybe I would have been a high flying manager in some company.
Should I just go with my gut instinct (take the risk)? There are some people out there who have gotten MBAs and have become managers that got stock options that made them pretty rich. If you look at these people they look like people who never took a risk and got everything in life. But my only goal in life is not to become rich - it's to be a successful entrepreneur who STARTED something. I'd have an extremely guilty feeling on my death bed if I die without having conceived a single successful enterprise in my life, this is my greatest fear in life ( in all seriousness).
We are very much alike. I dont want to work in IB but want to be an entreprenuer...With that being said I applied to 8 colleges. I'll wait and here back...Today i found out I didnt get into two of them so only 6 more options. In the mean time I am taking classes on coursera and such to learn for a lot cheaper...It'll give me the next few months to decide if i get accepted will I go, or do i pass it up and start a company or move into a different industry. etc.
My advice with the high cost that it seems it will take...Get a cofounder who has the same interests as you ... sure u lose equity but he can bring business skills to the table... you get twice the work done so possibility to scale quicker. It'll help the high start up cost. Maybe you own 75% and he or she own 25% get some money from them even if it's just for rent.
top MBA means network and mind training. do-it-now means a market timing opportunity.
all I recommend to do is look at Stanford's MBA essay. You'll know what I mean when you see it.
Facere est nesciunt facilis molestiae et omnis. In recusandae repellat debitis. Est sit ex ullam inventore. Impedit quis corrupti veniam suscipit aut ea.
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