A management education teaches you how to take your first step as an entrepreneur rather than

establishing yourself as one. It’s a misnomer to say that business ideas are brought to life upon the
completion of an MBA. Advancements in curriculum in topnotch b schools have provided opportunity for
aspiring entrepreneurs to nurture their ideas through institution funded entrepreneurial projects and
electives or core courses in entrepreneurship development. Even more, it has made students with similar
ideas collaborate for potential joint ventures. Such networking can be effected only in environments as
these where students are particularly insulated from real life challenges, giving them more time to
prudently strategize their business plan, plan for initial sources of capital, reflect upon possible risks and
threatening competition and develop back up plans to recover from setbacks.

Bringing manufactured goods to market for sale is the ultimate aim of any entrepreneur who wishes to
realize profitable turnovers. This is where a specialization in marketing plays a vital role in the success of a
product or service. In a typical MBA program with marketing as a major specialization, case studies are
discussed to help students acquire a firm grasp of how to creatively develop strategies to tap into
customers’ expectations, periodically meet those expectations and retain customer loyalty despite stiff
competition from counterparts in the market.

All said and done, no matter how much a management education can equip you with the skills, tools and
knowledge to “become” an entrepreneur, “being” one is a totally different ball game altogether. Haven’t
we all been told in schools how difficult survival in the world is once we step into it after our higher
secondary education? And didn’t we realize our vulnerability when we encountered so many situations
that tested our emotional and mental courage? We failed, and rose each time only to fall again, thus
learning a series of valuable lessons along the way. Being an entrepreneur is just a similar case. While
MBA confers a certain educational advantage, most aspiring entrepreneurs feel that they have already
learnt enough to tackle challenges that their business would entail. Only to be proved wrong in the later
run. While an MBA can definitely help them overcome the initial hiccoughs, the instability of the market
might demand changes in strategies adopted which the budding entrepreneur might not be able to make.

The growth of any private enterprise isn’t always a smooth curve. First, a breakeven point is realized to
ensure the viability of the enterprise’s product or service in the market. After which, a marginal profit is
realized by enhancing the quality of the services and products produced in the market. And a few years
hence, considerable profits can be realized. Hence, the growth is exponential and such an arduous
journey requires endurance and patience. And a two year MBA program can never guarantee to develop
such attributes in an aspiring businessman. Thus, testifying again that “An MBA is definitely a prerequisite
for becoming an entrepreneur, but being a successful one requires attributes far more than what an MBA
can teach”.

To conclude with some important facts ; Steve Jobs did not hold a managerial degree but he was assisted
by ARMAS MARKKULA who provided him with funding and managerial assissatance to start a company. If
Mark Zuckerberg had an MBA degree before he started Facebook, he wouldn’t be fighting litigations with
his partners today.Sans a management degree, they had all the attributes to become successful
entrepreneurs.