Entrepreneurs Share Insights Ahead of World Entrepreneurship Day: Startups vs. MBA Programs
- ByStartupStory | August 20, 2023
As the world gears up to celebrate World Entrepreneurship Day on August 21, several entrepreneurs are shedding light on the debate surrounding the choice between joining an early-stage startup and pursuing an MBA program. Many founders emphasize that while an MBA can offer valuable managerial skills, it is not the only path to success in the entrepreneurial realm.
Annanya Sarthak, the co-founder and CEO of work-as-a-service platform Awign, believes that entrepreneurship is akin to a real-life MBA, continuously shaping business fundamentals and honing skills such as communication, leadership, and critical thinking. Sarthak asserts that an MBA might not equip individuals with the practical skills needed to navigate the challenges of launching a startup.
Krish Ramineni, CEO of Fireflies.ai, shares this sentiment, stating, “Instead of spending two years doing an MBA, I highly recommend joining another early-stage startup and learning the skills needed to start your own company.” Ramineni suggests that the hands-on experience gained from working with startups can be more beneficial for aspiring entrepreneurs than traditional classroom education.
Prateek Maheshwari, co-founder of Physics Wallah, adds depth to the conversation by highlighting that entrepreneurship encompasses tasks beyond the managerial scope taught in MBA programs. Maheshwari explains that it involves securing funding, providing a vision, assembling the right team, and solving pertinent problems, which extend beyond the confines of a typical MBA curriculum.
Although MBA programs offer valuable insights and networking opportunities, the reality is that only a small percentage of MBA graduates venture into entrepreneurship, a historical trend that Prateek Maheshwari acknowledges. Naiyya Saggi, co-founder of Good Glamm Group and founder of BabyChakra, credits her MBA experience with broadening her horizons in problem-solving, business development, and professional networking.
While India’s entrepreneurial landscape is marked by innovation, growth, and supportive government programs, entrepreneurs like Rishabh Goel, CEO of Credgenics, point out challenges related to regulations, infrastructure constraints, and intense competition. Shantanu Rooj, Founder and CEO of TeamLease Edtech, regards entrepreneurship as a journey that tests perseverance, determination, and focus.
Ankit Agrawal, Founder and CEO of InsuraceDekho, acknowledges the multifaceted challenges entrepreneurs face, from securing initial funding to grappling with cultural factors. Param Bhargava, Co-Founder of The Ayurveda Co., highlights the energy in the startup ecosystem, even as startups contend with fierce competition and navigating intricate regulatory landscapes.
Param Bhargava also underscores the value of an MBA in providing a strong foundation in finance, marketing, and strategy, which are instrumental for fostering business growth. As the discussion continues, these entrepreneurs illuminate the diverse paths that can lead to entrepreneurial success, emphasizing the significance of practical experience, adaptability, and a holistic skill set in the dynamic world of startups.
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