Anisha has done MBA in Marketing from NMIMS And Executive Management(PMNO) from Harvard Business School. She has been instrumental in growing CATKing Digital with her experience with Marico and Henkel in the past.
Is MBA Necessary for Creating a Startup.
Today if you want to be an entrepreneur, you just get out and get started, you don’t need to have any training .Two ways of getting into entrepreneurship, some of them very few start immediately, they are entrepreneurs by mind, you can’t contain them in a class, people like Dhiru bhai Ambani , you can’t contain them anywhere, there is so much energy, enthusiasm, they will do their work, they don’t really require any education. The other group is a more structured thinkers, they will weigh the pros and cons, they went to do risk modelling, some of them can become entrepreneurs others are actually good as managers, so for this small group of structured thinkers who wants to be entrepreneurs it is suggested to first learn the ropes of the game get in the sector of your choice, explore for a few years and then get started and this is where most of the MBA students will fall, about 4 to 5 years of post MBA you might see many of the students start their ventures.
The video opens with a story about Hewlett-Packard (HP) in the early days. An engineer had a great idea for a new product but it could not be brought to market because it did not follow the company’s approval process. The engineer defied the rules, built a prototype, and got purchase orders from potential customers. This story highlights the importance of taking initiative and being resourceful, which are key qualities of an entrepreneur.
For entrepreneurs, there are two main approaches.
Developing an entrepreneurial mindset as a skillset and how to set up a venture and scale it up
First learn the thought process create the most viable product
Two three aspects of an entrepreneurial mindset.
One is opportunity prone that means everyone’s in the same situation and somebody comes up and says hey there is a gap or a problem and crib about it and other fellow describes it as an opportunity that ability to see a crisis as an opportunity that is a skill set that is developed over time and for it might come natural
second is to have innate tendency to have a locus of control for example the reality distortion field that steve jobs walked around with, that is the feeling of believe in yourself that when he walks in everyone would adjust according to his environment.
All Bschools should teach entrepreneurship not by learning but doing hands on practical experiences
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The MBA Conundrum: Do You Really Need It to Start a Business?
In the realm of entrepreneurship, there's a persistent question that aspiring business owners often grapple with: Is an MBA necessary for creating a startup? The answer, it seems, lies in understanding the diverse paths individuals take on their entrepreneurial journey and recognizing the value of both structured learning and hands-on experience.
The notion that formal education is a prerequisite for entrepreneurship is increasingly being challenged. As Dr. Raj Krishnan, a seasoned professor and program director, aptly puts it, "Today, if you want to be an entrepreneur, you just get out and get started." This sentiment echoes the stories of legendary entrepreneurs like Dhiru bhai Ambani, whose relentless drive and vision propelled them to success without the need for formal education.
Entrepreneurs, Dr. Krishnan suggests, can be broadly categorized into two groups: the natural-born risk-takers and the structured thinkers. While the former thrive on instinct and intuition, the latter prefer to weigh the pros and cons before taking the plunge into entrepreneurship. For the latter group, Dr. Krishnan recommends gaining industry experience and understanding the nuances of the sector before venturing out on their own. This is where the majority of MBA students find themselves, leveraging their post-MBA experience to kickstart their entrepreneurial endeavors.
The story of Hewlett-Packard (HP) serves as a poignant example of the entrepreneurial spirit in action. An engineer's innovative idea was initially stifled by corporate bureaucracy, but through resourcefulness and defiance of the rules, the product eventually became a resounding success. This narrative underscores the importance of initiative and adaptability, qualities that are indispensable for aspiring entrepreneurs.
When it comes to developing an entrepreneurial mindset, Dr. Krishnan emphasizes the need for practical, hands-on experiences over theoretical learning. Entrepreneurship, he argues, should be taught not just through textbooks but through real-world applications and experiences. By immersing students in the entrepreneurial process, B-schools can cultivate a mindset of innovation, resilience, and problem-solving.
Key aspects of an entrepreneurial mindset include being opportunity-prone and possessing a strong sense of internal locus of control. The ability to identify opportunities in challenges and the unwavering belief in one's ability to influence outcomes are essential traits for entrepreneurial success.
In conclusion, while an MBA may provide valuable skills and knowledge, it is not a prerequisite for entrepreneurship. Ultimately, the decision to pursue formal education should be guided by individual aspirations and circumstances. Whether through formal education or hands-on experience, aspiring entrepreneurs can cultivate the mindset and skills needed to navigate the complexities of the business world and chart their own path to success.
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