Should I get an MBA to help me start my own business?

Brian asks: I was wondering, how valuable/necessary is an MBA for somebody trying to start their own business as opposed to self-education? How much impact does the school you obtain your MBA from have on your ability to network and on gaining successful job placement? I am trying to assess the risk (e.g. cost in time and money) versus the reward.

Like so many educational programs—especially graduate degrees—an MBA is really “what you make of it”. Of course, if you’re smart enough, rich enough, and lucky enough to be able to attend a top program like Harvard or Wharton, just getting the degree can take you a long way. But even the value of those top name MBAs may be falling.

MBAs from so many other programs don’t carry the cache of the big schools, which means that their value lies in what you learn and who you meet, not the name of the program.

Personally, I feel that there’s not a lot taught in business school that a motivated entrepreneur can’t teach him or herself. But even the smartest, most business-savvy entrepreneur will have trouble launching a successful business without knowing the right people. So I’d ask yourself: Are you already plugged-in to people that can help you launch your business, help you raise capital, and help you find customers?

If not, an MBA program might be worthwhile just to meet those kinds of people.

I’d love to hear from any entrepreneurs who hove gotten MBAs (or decided against it) in a comment!

Hope this helps.

David @MoneyUnder30