4 Reasons To Skip Business School
Aseem Badshah is the President and CEO of Uptown Treehouse. You can see more videos here on Docstoc or visit his blog.
- Learn by doing. At a school, you learn through theory and concept. In a business you learn by doing and you get a better understanding of business.
- Diverse expertise. When you start your own business you get to dive in to all of these areas.
- Better investment. When you are creating a business you are creating an entity that is growing in valuation and it costs about the same.
- Connections. It may not be right for everyone to skip school, but if you are outgoing and like to connect, you should. You are able to create connections with people that are experiencing the same problems and successes as you.
A lot of people are thinking about going back to school to go get there MBA in order to really enter the business world in a big way. I would ask him to think about maybe starting a business instead of doing that for a couple of reason and I really have four specific reasons why you may want to go and start a business instead of getting that MBA.
The first, learn by doing. When your at a, you know, a school, your really learning through theory and this conceptualization. You’re going to case studies, you’re thinking about things from kind of a much more theory level. At a business, your learning by doing, you’re learning accounting because you have to be keeping your books. You’re learning about the product development process because you’re creating your own product. You’re learning about the legal side of things because you have to be creating a business entity. If you’re really learning by doing and you get a much better understanding of business because of that.
The second reason is you get this really nice diverse expertise. So, when you go to business school, yes, you go to an accounting class, you go to a fiancé class but when you’re starting your own business, you really get to dive deep into all of those areas. You become an expert at engineering if you’re at—and you know starting an engineering company. You really have to become an expert at marketing design and branding when you’re doing that piece of your business. So, you get to become an expert in all of these areas instead of just kind focusing on one and then learning a little bit about the other areas.
The third reason is a better investment. Think about buying a house versus, you know, going and making a rent payments for an apartment. When you are creating a business, you’re building an entity that is growing evaluation. At the end of the three or four years you can sell that company, you can come out of that company saying that there is a stock price and a value associated with that, plus it cost the same. In this day and age, the amount that is—takes to go to business school and spend, you know, three or two—three years there, you can take that same amount of money and get started with the business and at least take you until your first planning round is needed. So, think about that, your coming out with a, you know, a value that your able to sell and your also spending the same price, and hey if you fail, at least at the end of the day, you went through that experience and you get a much better basis of knowledge because your trying things and doing it by experience.
Lastly is the connection speech. And I have to carve you out of here a little bit, it may not be right for everybody to skip, you know, school and go right into a business. It really is more for people who are a little bit more outgoing and willing to go on make connections on there own. And most entrepreneurs are like that, most business people are like that right with a business school, you’re kind of hearing a community and your able to make easy connections. When your starting a business, you have to go on and find those on there—on your own but people in business who have started a business, who are executives wanted to talk to people who have the same problems as them and when you are starting a business, your able to talk about those problems because you have those problems and you’re able to create much closer connections to people who are out there in the real world doing this things that can help you with your business and your career.