Is doing MBA worth it ?

[monish shanmugam]

Don't get me wrong. I know the title is against the Fastlane concept.

In May 2024, I am going to finish my B.com college degree. My parents are telling me to pursue an MBA degree from top business schools in India ( where I live). But deep down I know that I want to build a Fastlane business system ASAP. Do I learn anything about entrepreneurship, creating a business, or running a profitable business system in an MBA degree? Or will these business schools implant the mediocre slow lane concept? Will I learn something productive? As an aspiring Fastlane entrepreneur, will this degree help me out?

 

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[uhhfeef]

I think if you already don't have anything set up in the side, it's going to be hard to convince your parents.

Start something while doing the MBA, I've had a couple friends who've done this so I know it's possible if you want it enough.

 

[akshayazariah]

You can set up a Fastlane business while pursuing your MBA. Worst case scenario — your business hasn't taken off in time to provide you with a stable enough income for you to have given up your MBA. Just do both; if you happen to find out that the Fastlane business life isn't for you... you still have an MBA. You may also pick up a bunch of helpful stuff in pursuit of your MBA that'll supercharge your Fastlane unscription.

 

[Simon Angel]

In my experience, people who gravitate towards degrees as a "backup plan" lack the risk tolerance needed to succeed in business.

They also tend to want to be overqualified for everything – another limiting belief that holds them back.

If you want to do business, do business. Nothing is stopping you. And you don't need a piece of paper to permit you to do it.

Besides, I'm sure this forum has helped cultivate more millionaires/financially free individuals than any of the business schools you might go to. So why would you? To appease your parents?

Next thing you know you're appeasing your boss with your business degree. Or your girlfriend/wife.

Think about what you want to do and do it.

 

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[monish shanmugam]

I think if you already don't have anything set up in the side, it's going to be hard to convince your parents.

Start something while doing the MBA, I've had a couple friends who've done this so I know it's possible if you want it enough.

I am thinking about starting an online business after graduation

 

[monish shanmugam]

You can set up a Fastlane business while pursuing your MBA. Worst case scenario — your business hasn't taken off in time to provide you with a stable enough income for you to have given up your MBA. Just do both; if you happen to find out that the Fastlane business life isn't for you... you still have an MBA. You may also pick up a bunch of helpful stuff in pursuit of your MBA that'll supercharge your Fastlane unscription.

Actually, my parents want me to do a 9-5 job at an accounting firm, plus preparations for my MBA exam for a few years. According to them, if I have a job experience, then my admissions in these business schools will be easy. But deep down I know I have to escape mediocrity

 

[monish shanmugam]

In my experience, people who gravitate towards degrees as a "backup plan" lack the risk tolerance needed to succeed in business.

They also tend to want to be overqualified for everything – another limiting belief that holds them back.

If you want to do business, do business. Nothing is stopping you. And you don't need a piece of paper to permit you to do it.

Besides, I'm sure this forum has helped cultivate more millionaires/financially free individuals than any of the business schools you might go to. So why would you? To appease your parents?

Next thing you know you're appeasing your boss with your business degree. Or your girlfriend/wife.

Think about what you want to do and do it.

100% I agree with you, sir. Thank you!

 

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[MJ DeMarco]

In my experience, people who gravitate towards degrees as a "backup plan" lack the risk tolerance needed to succeed in business.

I generally agree with this as well. Whenever I hear the term "backup plan" I want to scream. Of course my perspective is US-based, these things might be different in other countries.

 

[Simon Angel]

I generally agree with this as well. Whenever I hear the term "backup plan" I want to scream. Of course my perspective is US-based, these things might be different in other countries.

It's the same. However, if you're in say India or the Philippines, getting a degree and a 6-figure job with a U.S. company where you work from home would essentially make you rich there... But that doesn't account for the most important reason we go the untraditional route – refusing to slave away at a 9 to 5.

Lots of people "want" to start a business but still think like employees:

"I'll get this certificate first and then start my personal training business. Actually, there are too many people with just that certificate, I have to get X one too. " as if obtaining said certificates will magically provide them with all of the skills and experience needed to succeed on their own.

There's always "just one more thing" they need to scratch off their list before they can start.

By the way, Happy New Year @MJ DeMarco! I'm experiencing a lot of change in my life right now and it's not been easy, but knowing I've got money in the bank if I need some downtime along with clients who are fighting to keep working with me keeps me from feeling "trapped".

And I've got the time and money to pursue my passion.

A few years ago, I was living with my mother, we were in debt, and I'd nearly died from health issues. I didn't want to get a job, and when I eventually tried, I couldn't hold one – both because of the intricacies of my condition and the fact that I knew I could do so much better.

I took off the beaten path and tried stuff. Most of it didn't work out. At times, I questioned if it'd ever work out for me, but I knew from past competitive grinds that when there's a wall standing between you and your goal and all else fails, you just gotta keep smashing your head against the wall until it gives. Most people wouldn't try "all else" and fail, let alone that.

And so I did and I was rewarded!

I'm pretty sure this wouldn't have happened if I'd gone for formal education. So this is both a thank you and an example for @monish shanmugam.

 

[Jon822]

I did one semester of an MBA program and it was laughably pathetic. My first lecture in some econ class, the professor went around the room to get an understanding of our backgrounds. When I told him I have an undergraduate degree in Mathematics and Statistics, he told me to see him after class.

What he said after class was the following: "You're going to be really bored in this class." He was right and all of the other classes were no better. There is nothing (or minimal) of value in an MBA degree as it pertains to actual business because it is tailored to Slowlaners who think they bring value to a company by simply existing while holding a piece of paper that says MBA on it.

Imagine if you had a successful and growing business and some MBA holder applies to work for you. He has no skills in coding, marketing, copywriting, sales, HR, or accounting but he has "a really strong understanding about how business works". Would you hire him?

There's nothing wrong with improving your life within the paradigm of the Slowlane provided that you do it efficiently. If you taught yourself a skill for a month that would benefit your future business and then started applying to positions related to that skill which would also increase your salary by 50%, then you are improving your life in a couple of ways at the same time. You would be immediately improving your income which could allow for more investment into your business and you would be getting paid to improve on a skill that could also benefit a future business. Spending thousands of dollars for a piece of paper that you HOPE someone will see value in is not efficient.

 

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