It's a critical question. How many CEOs have MBA's? And by the way, the founders of Microsoft, Google and Apple don't have MBAs.
It's a point worth considering with hedge fund manager and PayPal founder Peter Thiel offering 20 years olds $100,000 to develop skills that would make them more effective.
Silicon Valley venture capitalist Guy Kawasaki wrote some time ago in Forbes, that the MBA does not have much ROI. "What is the value of an M.B.A. these days for young college graduates who want to start their own company? Probably about a negative $250,000. (I have an M.B.A., and I was once a young college graduate.) I don't think an M.B.A. matters very much for starting a company. A much better educational background is an engineering degree. You can always hire M.B.A.s, but if you don't have the ability to conceptualize and deliver a product, you've got nothing."
What the MBA does provide is the skill to go in an conceptualize and solve problems. But it's not the be all and end all.
MBA programs do give future entrepreneurs valuable tools to help them mitigate risk and increase the probabilities of success. But even with those tools, they are the only ones who know whether or not they the heart to execute on the opportunities. That is when the real bullets start flying. Being an entrepreneur is more about having guts than academic ability.
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