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How can an MBA help a budding entrepreneur?

In starting a business, or running a fledgling start-up, how can obtaining an MBA help? Wouldn't real-world experience suffice? I always thought an MBA was used to help your employer's business, not your own.

Public Comments

1. Having a degree will help you network, make bankers and investors more comfortable in your abilities and you never know, you may just learn something! :)
2. The MBA helps you move up the corporate ladder. It shows you have a minimum set of skills to offer. Bill Gates is the perfect entrepreneur. No MBA. Just brains and ambition. The same is true for you. Get to work. .
3. You do not 'need' a degree or MBA to start your own business. Look at Bill Gates, he did not finish college but he's one of the wealthiest people in the US. I'd say just do the research and jump into it head first! Be blessed!
4. I used to think the same until I became an MBA. After attempting several startups, I discovered that these businesses failed because of my lack of business knowledge. The failures had nothing to do with a lack of financial capital, marketable products or technical skills. The MBA provided me the financial accounting, marketing, organizational behavior, communication skills, microeconomics as well as the strategic management skills needed to develop a target market and refine my services to match my chosen demographic. A person without an MBA may be successful in their business at startup, but will eventually need the business skill that an MBA can provide. I'll give you an example: If you have constructed a business plan that accurately reflects your busines objectives and goals, communicates your target market and provides projected balance sheets and income statements, you will find that having the MBA disciplines helps in understanding those key elements of running a business.
5. May be this site can help you http://www.sgpak.com