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The will to succeed is important, but what's more important is the will to prepare. – Bobby Knight


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Why MBA – The entrepreneur Version

A lot of us have a lot of reasons to do MBA. As a 6 month Entrepreneur I have my reasons as well.

1. Value of Numbers – Transition from a employee to an entrepreneur is not a easy one. All though I have chewed up couple of numbers (for the client in my previous job) I didn’t know the value the numbers add to a business. As an entrepreneur the number games are totally different. For example 1$ might not be a liability 1000×1$ is a liability.  There are many such examples where I fell short during the 6 months and an MBA could’ve been my savior. I didn’t know I was finance ignorant till I let a CA read my charts.  Believe me getting at 48+ GMAT score has got nothing to do with finance or maths involved in business.

2. Network – For an entrepreneur, no network is enough network. And starting a company in my home can be devastating if not for a few free (no salary remember?) start-up events trying to find clients, mentors and investors. Bschool is a holy grail for any entrepreneur – with the amount of students to professors to events to access to local business. Its a first class ticket for whole 2 years and for the rest of the life.

3. Team/Hiring – Having read a couple of books from good to great to Steve Jobs biography, I thought my schooling was over, I don’t need a MBA. You see, its easy to read than to follow. I made my first blunder when I chose a team. Being a small venture it is critical you get at least one aspect right – a great partner. Ideas might come and go but strength of the partnership makes or breaks a business. Business takes time and better to have a partner who is willing to go through the tough times (there are so many). Having lived through this lesson, I dare say, I am up for grabs whatever a Bschool can throw at me – including a potential business partner ;).

4. Mentor – Mentoring is an essential part of any start-up. Those who say I don’t want mentor are only postponing their decisions. Sometimes (many times) we need to think out of the box. Entrepreneurs start with love (so did I) but that is not all needed. We need the logical and analytical mind that says “Ok, I get it, What problem are you trying to solve? Are people willing to pay for it? If not how about you do this…” That’s a role of mentor. Sadly, I had to struggle two months, after which I realized how much mentoring can help. MBAs have a la carte for mentoring provided by the best of the best. How about taking a entrepreneurship lesson from Steve Blank or Eric Ries or Peter Thiel?

5. ROI – Lets see, Bschools cost a lot. A LOT. For someone who is unsalaried for a few months (didn’t break even yet), it’s a big gamble. So, I had to put a ROI. But, Bschool’s ROI go beyond the actual money. Even after 20 years, it can’t be measured to actual point. Even though the outgoing salary makes sense, I bet just like our primary education (can we put a price on it?) We can’t really put a ROI on Bschool – from alumni to network to the goodwill, there are just so many things that makes BSCHOOL a perfect stop.

 

So, what’s your reason?


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An Awful tasting Medicine..

It was awful tasting medicine, but I guess the patient needed it. – Steve Jobs

2013 admission season is almost over! I am not on the sunny side up, but I have managed to get back to my life. 🙂

In a weeks time, most of the admissions would’ve been over, a lot of us who are wait-listed might not get in (this time) and accepting it is one of the worst feelings ever. Especially – having got the reccos from your boss (who would smirk for next 8-9 months for missing the Bschool debut), – having to tell every friend/relative of yours the bad news (even to friends who have gotten to Harvard) it’s just damn! I didn’t even attempt my dream school ’cause I just couldn’t. (an expert would’ve recommended otherwise)! I can not only empathize, but I have been in your shoes.

I have one thing to tell you guys. It’s not easy and it’s not the end. It’s not easy to be that one black sheep (who didn’t get an admit). It’s not easy to get around and face your boss. Blimey, Its not easy to get the time, money or peace of mind back. But its possible.

It’s possible this is just a hiccup phase. It is possible that this is not the end. It is possible that your dream school is waiting for you and it is possible that you can pick yourself up. It is possible to face the world and sign up for the hells kitchen again. But, it’s only possible – if you haven’t given up.

All of us think that when we try a couple of times and hit a dead end – we have failed. But, It was and is never like that. Understanding failure is very crucial not only in MBA applications, but in life as well. We only fail if we give up. Otherwise, there is 50-50 chance for the coin to turn either side. (just like how it was when you first applied). A simple logic. But we trap ourselves in the past and forget that it was always 50-50 chance and we did go for it before and we have the potential to take it up again.

To all those people who are looking back at a not so pretty picture here is the thing..

www.stkrz.in

Life’s Biggest Lesson (Source)

On this note, I would like to begin the second innings of this blog.

I encourage all the bloggers to leave your blog addresses on the comments section 🙂 Lets loot this process together :).