Background: I completed my engineering degree from a tier 3 college in India and have been working as a software engineer in multiple early-stage startups in India and UAE for the past 7 years.
I have always had a desire to start my own company, and though I attempted it twice in the past, unfortunately, those endeavors didn't succeed.
I don't have any prestigious affiliations or connections. Neither have I worked for a renowned company nor attended a prestigious college. Consequently, I also lack a strong professional network. This makes me wonder if pursuing an MBA from a reputable college would be beneficial for my entrepreneurial aspirations.
Nope. MBA is only helpful if you want to get a job in an orthodox corporate. MBA curriculum is outdated w.r.t to market scenario.
Other benefits like network might help but you can get a partner with MBA as well.
There are many, many successful founders who haven't done MBA . So it's not a must-have.
For business it's all about getting customers, building product and serving them.
If you are a software engineer you already have an unfair advantage in building a company (I assume it is a Tech company).
An University degree is a mere credential. If you think only that can give a validation to build a company you are not going to make it.
Let's say you get into a Top B school in the immediate next intake in India. (IIM A,B,C)
If you want to start a company, go start one. What's stopping you? Please don't say you want to learn before you start. Every single information to start, scale and build a successful company is available on the internet for FREE.
The only challenge might be is to get a good co-founder. Now that you can code, you can surely find someone good at business. Mostly your friends.
The best and perhaps the only way to know how to build a company is by building one. You can't move jack shit sitting and getting a salary. Take the plunge. All boils down to how badly you want it, even if its for fun.
No a degree doesn't help, while it will give access to venture funding (times are changing now), you are only going to waste your prime years doing assignments and solving questions w/o purpose.
If you think if you fail you can always go back and take a job using the degree,you are lying to yourself about starting one.
You are not going to get customers because of you fancy MBA.
Tier 3, no network, no connections are all lies you keep telling to yourself for not taking the plunge. Try to have skin in the game.
Anyone can build a great business. If you need a degree to do it, it is not going to make you wealthy.
When you start your company, will your customer buy your product because you have MBA degree?
Can you charge more than your competition because you have a MBA degree?
Will your business be valued more than a competition who had more revenue than your but no MBA degree?
Yes. You'd learn about different functions like HR, Operations, Sales/Marketing, Finance. You'd have like-minded peers and have access to alumni and other co-founders. Most B-schools also have incubators which will open doors I.e. give you funding, give you access to VCs etc.
Note of caution: please pick the top 35 Bschools in India which have networks and incubators.
To address some of the topics above: can you learn the subjects on your own? Yes. It's like picking YouTube or Coursera to understand a topic. YT will give you the output but you'd have to find the subjects and understand them. Coursera on the other hand will have curated topics you can learn out of, give you access to other peers doing the course and give you a certificate that is recognised. You can choose which path you want to take.
If you want to raise funding, yes. If not, no.
That too it has to be top tier colleges, otherwise not worth it.
Failing to start companies is great, you know how to start from scratch now. Every time you do it, you'll be faster and better at it.
MBA won't help your startup survive though, that's something you need to figure yourself. Watching shark tank and dragon's den will be more than enough practical knowledge you need on startups.
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