I was talking to Ryan Paugh (of EE fame) the other day, and we got on the subject of grad school. He asked, “Why are you getting an MBA? You should do a start-up. Start-ups are the new grad school for entrepreneurs.”
Ryan Paugh is great; in fact, both Ryans are cool, at least in my experience. But they make me laugh because they are doing a start-up without MBA degrees, so it’s hardly a shock they don’t see the value in having one as an entrepreneur.
They are right though – you don’t need an MBA to become an entrepreneur. In fact, you don’t need an undergraduate degree to become an entrepreneur either, as proven by Bill Gates and Steve Jobs. Heck, why even bother graduating from high school? Ben Casnocha and Emerson Spartz started their businesses in their early teens with great success. Both even have books out; though I noticed this didn’t stop either of them from doing a few laps of undergrad.
Despite the traces of sarcasm in my tone, here’s my admittedly biased opinion:
Maybe you do need grad school. Maybe you don’t. It depends on who you are, what you’ve experienced, and what your goals are.
My goal is to start a business… soon. But not now, because I’m young and want to enjoy my early/mid twenties with a great social life in a large city. To me, a business is a huge commitment; something you pour your life and soul into for years before it starts profiting (if it ever profits). I can’t understand why someone would give up everything else to do that in their early twenties; but who am I to talk, when Ryan thinks it’s crazy I’m married already. Maybe it’s not about needing guidance or needing help or not having enough passion so much as it is about personal preference. Maybe we’re talking about the same thing – compromise.
And while an MBA provides great networking, you can also network without it. Personally, I want to network with as many people as possible; that’s why I started this blog and started grad school. My online network can’t compare to my grad school network or vice-versa, as they both offer different opportunities I plan to take advantage of in the future. I choose both though, because I am able to find like-minded people both ways and discuss ideas with them – essentially, I’ve diversified my network portfolio.
Because unfortunately, people in the real world don’t care about how many subscribers your blog has unless you have the real-world skills to match it. And just having a degree won’t get you hired – people who go for the classes and good grades have hardly any advantage over non-MBAs. Both blogs and degrees are means, with the end result, the meat of it all, gaining knowledge and lasting connections.
People without degrees will tell you you don’t need a degree. They have to, don’t they? Because if they didn’t you would question their authority and credentials. It’s defense, job security, an issue of personal branding.
People with degrees will give you mixed opinions. “It helped me when I first graduated, but it doesn’t now.” “It helped me with what I wanted to do, but it’s not for everyone.” “It didn’t help me get a job, but I still use the skills every day.” People with degrees want others to join the club; otherwise their degree loses value.
It’s a confusing mess, so stop listening to everyone else and believing their path is yours. Know what degrees get you and what they don’t. Forget about getting a degree; instead, get an experience that will help you reach your goals. Maybe that’s a degree, maybe it’s a trip abroad, maybe it’s a start-up; only you will know.
Monica O'Brien is the Director of Digital at Fizz and author of the book Social Pollination, which helps businesses leverage social media for crazy growth!
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Great post Monica. I feel like this topic has come up a lot lately and although I did try to coax you into joining a startup right now it’s really up to ourselves to know what’s best for us and make the decision.
And it is a confusing mess, you’re right. Maybe one way to make the decision less stressful is to think of everything it terms of an experience instead of just “Option A” and “Option B.”
One thing to think about it what type of experience you really want to have. Do you want more structure or do you want something that’s a little more erratic and all over the place.
For someone who craves structure, maybe an MBA is the right road. And if you’re more interested in dealing with something different every day, then maybe you’re ready to be an entrepreneur.
Honestly, who knows…it’s all up the individual. And even a decision that can seem wrong at the time might end up to be right for you years down the road.
I think a major difference is 1) the people who strive for a degree cause they need the stability called school (and have no plans), and 2) those who go back for a degree with a larger plan in mind. I’ve seen both sides, looking at friends and relatives who have already been in school a few years. The worst example is a friend of mine going $100,000 into debt at Law School cause in a few years he’ll be “ballin’” he says. I just don’t know about that, though it’s possible. I’ve seen the same with Med-School, and I just know that they’re in it for the wrong reason which is just sad.
Then, the other side of the spectrum is those who know where they fit in, who have a few years of experience already so they have something, as well, to contribute back to the MBA class. If you don’t have that larger plan, and experience, you’re just another person keen to be ballin’ like the ones mentioned above.
I held off of grad school (it would have been forestry-related) and am happy with the decision. I now have thesis plans in more specific environmental management, and not just a general keenness for forestry. Anyway, traditional forestry’s doomed – had I jumped right in, I would have learned that the hard way; lack of satisfying work opportunities.
Ryan makes a good point…”think of everything it terms of an experience instead of just “Option A” and “Option B.”…The experience fills in the gaps between A and B, making for true plans, not just the status of having a higher degree.
I think the point is to strive for more that just status MBAs, cause they won’t make you famous. The collection of experiences, and knowledge of a plan (and potential employers knowing you have a plan) will be healthier.
Ryan,
Glad you liked it. It’s interesting to me that you associate grad school with “structure.” I’m assuming this comes from your experience as an undergrad. Grad school may not be as crazy as an entrepreneur’s lifestyle, but I certainly wouldn’t describe it as structured. Maybe you should sit in on a class to see what it’s really about.
I do think it’s good you mention it’s not about option A or option B. You can do both and there’s no correct order – I’ve seen people do it both ways. That’s why I think it’s more about choosing your experiences, because the cumulative of those experiences is what makes or breaks you.
th rive,
I think you’re right. People should know why they are going for a degree and why it’s a necessary step in their bigger plan. It sounds like you have a good path picked out. Good luck with it!
Great subject. I have to agree with Ryan that experience is important, I’m still on the fence about the MBA route. I’m launching a product in a few months and I’m not even out of under-grad. However I have a different mind-set than most college students, this is where you start to see people standing on either side of the line. It still amazes me of how many people will just opt for a plain jane job and have no aspirations to do better or venture into the unkown.
I find that by trying to blaze my own trail (and failing many times already), I have gained more respect and exposure and am now starting to see offers come across the table that are blowing my mind. I’ve known from early on that I’ll end up owning my own business in the long run…I really think it’s ingrained in a person…not so much a taught skill.
Thank you for your thoughts. There is a TV channel here that presents many successul entrepreneurs and most of them are undergraduates. Most learned from experience, or they have a wonderful product or idea. This probably confirms your post.
You might be interested to know about the Young Entrepreneur Society http://www.YoungEntrepreneurSociety.com, many interesting stuff for entrepreneurs.
Michael,
You definitely have time before worrying about getting a graduate degree. I wouldn’t recommend going right after undergrad since you already have a product launch lined up.
I understand what you mean about having a different mindset than other people your age, and I think that comes from knowing you want to start your own business. It’s good that other people don’t want to start their own businesses, because businesses need people to work for them.
I do agree, entrepreneurship is ingrained in a person. It comes down to two things: you want to do it and your willing to take action. Lots of people want to start a business but very few are willing take action – you are. Good luck!
great post. what i get from it is you should take inventory of where you are, where you want to be, and what you’re missing in between. go from there. don’t worry about what everyone says you should be doing.
sometimes what needs to be done in between where we are and where we want to be seems counterintuitive. i, for example, am planning to leave my comfortable, albeit low-paying, corporate job for patch-work part-time jobs. why would i do this? because it will give me experience in the industry i want to open a start-up in.
i never thought part-time jobs high-schoolers fight over would be the right career path for me at 26, but it is.
it’s all about where you are, where you want to be, and defining the path to get you there based on that, not on what other people think you ought to be doing.
Monica,
Good perspective. There are a lot of people asking themselves these questions lately. In fact, when I wrote about the grad school debate at my first blog, it was one of my most consistently Googled series I ever wrote.
In the end, I’m with you that it really depends on who you are and what your goals are whether or not you should get an advanced degree; after all, in some fields, it required. I’m in grad school because it was a personal goal of mine and am under no delusions that it will make or break my career either way, in and of itself. It’s what you do in and with the experience that matters. And it’s all a part of a bigger equation. Simply sitting through classes and completing assignments and projects is no dream-maker. But I know far too many grad students who singed up on the misplaced notion that getting that master’s degree is somehow going to mysteriously fix a resume lacking experience or land them a six-figure starting salary no matter what.
Holly,
Your first few sentences sums up what I was trying to say nicely. I’m so glad somebody understands me! Good luck with your switch to part-time jobs; it sounds like you are following your gut – I’m a huge fan of that. I think you know your reasons for switching to part-time jobs so it’ll be okay.
Tiffany,
Yes, I completely agree. What are you getting your masters in? Getting a graduate degree was one of my goals too, and I’m glad I have the opportunity to reach that goal at a young age.
Great article about all the great options, Monica, thank you! It's refreshing to read someone who says follow your own path, any of them can be great.
– Christine Duvivier
http://www.PositiveLeaders.com
Great article about all the great options, Monica, thank you! It's refreshing to read someone who says follow your own path, any of them can be great.
– Christine Duvivier
http://www.PositiveLeaders.com
Great article about all the great options, Monica, thank you! It's refreshing to read someone who says follow your own path, any of them can be great.
– Christine Duvivier
http://www.PositiveLeaders.com