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Do you need an MBA to start a successful startup?

Do you need an MBA to start a successful startup?


    I have written an article about this question at Stepcase blog. It’s an interesting questions to think about:

    Wait, do you need an MBA to learn what you need to operate a startup? Maybe not. Starting up a venture is totally different from managing one. To start up, you need your time to work on the idea. More importantly, you need skills to execute it. Now the execution is not how well you manage your business, but your technical skills to implement your idea. Even if you have enough seed funds to hire engineers to work on it, you will still need enough technical skills and experiences to lead and guide them.

    Yes, an MBA is still useful and you will really learn a lot from it – No doubt about that. The knowledge you learned will help you on management, including managing people, sales, marketing and raising funds. Steven commented on the post on what MBA could provide:

    I did my MBA with much time spent on books and course materials. But then, there are still more to provide in an MBA programme:

    a) Commitment, I have to say some people are more committed when they took classes. I also understand that this is not a good reason

    b) Assessment, assessment of your knowledge to certain level, and not mis-interpreting the subject matter.

    c) Fixed Curriculum, you can always read what you like to read. But now you are forced to read something useful while you might not like it

    d) Discussion, you have chances to discuss with people of similar interests, not to mention the teacher who give guidance when you are struck with something

    e) Projects, games, and visits, I think this is something that differentiate an MBA programme with other postgraduate business programmes. The school I studied offered an intensive entrepreneurial project. Although it is something far from actually starting a startup, I believe this is also the closest one can get without putting big amount of money, time, and idea. The teacher also have good experiences with startup too.

    However, if starting a business is your goal, the question will become: Does it make the biggest positive impact to your objective as an entrepreneur? Or should you spend the resources (time and money) to something else that will make a bigger impact? e.g. invest its tuition fee as your initial startup fund.

    What do you think?

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    Do you need an MBA to start a successful startup? – [Stepcase Blog]

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    Leon Ho

    Founder of Lifehack

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    Last Updated on September 23, 2020

    Do What You Love and Love What You Do to Achieve More

    Do What You Love and Love What You Do to Achieve More

    Are you waking up each day looking for that perfect thing, activity, or job that will make your life work? Or, maybe you are looking for that perfect relationship. Once you “get” this new thing that will allow you to do what you love, you are sure that you will be happy forever.

    In reality, life doesn’t work like that, and we would probably get bored if it did. There is likely no one thing, experience, or activity that will keep you feeling passionate and engaged all the time. What’s important is staying connected to what you love and continuing to grow in the process.

    Here, we’ll talk about how to get started doing what you love and achieving more in life through the motivation it brings. Doing this doesn’t have to take a long time; it just takes determination and energy.

    Most People Already Know Their Passion

    So many people walk around in life “looking for” their passion. They look for it as if true passion is some mysterious thing that is difficult to find and runs away once you find it. However, the problem is rarely lack of passion.

    Most of us already know what we love to do. We know what excites us, even if we haven’t done it for years. Instead, we focus on what we think we “must” do.

    For example, maybe you love building model cars or painting pet portraits. Yet, each day you work a completely unrelated job and make no time for the activity you already know you love. The truth is you probably don’t need to find your passion; you just need to start doing what you already know you’re passionate about[1].

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    No Activity Is Exciting All the Time

    Even people who are living their dream lifestyle or working their dream job don’t love it all the time. Every job or lifestyle has parts of it that we won’t like.

    Let’s say your dream is to become an actress, and you succeed. You may not enjoy the process of auditioning and facing rejection. You may experience moments of boredom when you practice your lines over and over again. But the overall experience is totally worth it.

    Most of life is like that. Don’t set yourself up for disappointment by demanding that life be perfect all the time. If things were perfect and easy, you would ultimately stop learning and growing, and life would begin to lack even more meaning in that case.

    Be grateful for both the good and bad moments as they are both entirely necessary if you genuinely want to do what you love and love what you do.

    Doing What You Love May Not Be Easy

    Living a life you love is unlikely to be easy. If it was, you would not grow very much as a person. And, if you think about a great book or movie, the growth of the main character is what matters most.

    What if the challenges you meet along your path to living a life you love were designed to make you grow as a person? You may actually start looking forward to challenges instead of dreading them. An easy life hardly ever makes a compelling story.

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    If you struggle to overcome challenges, try writing them down each time you encounter one. Then, write down three ways you could tackle it. Try one, and if it doesn’t work, try another. This way, you’ll learn what does and doesn’t work for you.

    How to Do What You Love

    There are many small steps you can take to ensure you are making time to do the things you love. Start with these, and you’ll likely find that you’re already on the right track.

    1. Choose Your Priorities Wisely

    Many people claim they want to do something, yet they don’t do it. The truth is they might not really want to do it in the first place[2].

    We all end up following through on what matters most to us. We make decisions moment by moment about what we need to focus on. What we choose to do is what we deem most important in our lives.

    If there is something you claim you want to do but you don’t do it, try asking yourself how much you really want it or where it’s currently placed on priority list. Are there other things you want more?

    Be honest with yourself: what you currently do each day is a reflection of your priorities. Recognize that you can change your priorities at any time.

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    Make a list of your priorities. Really take the time to think this through. Then, ask yourself if what you are doing each day reflects them. For example, if you believe your top priority is spending more time with your family, but you consistently take on extra hours at work, you’re not really prioritizing things in the way you think you are.

    If this is happening, it’s time to make a change.

    2. Do One Small Thing Each Day

    As stated above, doing what you love doesn’t have to mean finding that perfect job that makes you want to jump out of bed in the morning. If you want to do what you love, start with one small thing each day.

    Maybe you love reading a good book. Take ten minutes before bed to read.

    Maybe you love swimming. Get a membership at the local YMCA, and go there for thirty minutes after work each day.

    Dedicating even a short amount of time to something that brings you joy each day will improve your life overall. You may find that, over time, a career path related to what you love to do pops up. After doing the thing you love each day, you’ll be more than prepared to take it on when the opportunity arises.

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    If you need help making time for your passions, check out this article to get started.

    3. Prepare to Make Sacrifices

    If you are an exceptionally busy person (aren’t we all?), you may have to make sacrifices in order to make space for the things you are passionate about. Maybe you take on less extra hours at the office or take thirty minutes away from another hobby in order to develop another that you enjoy.

    Looking at your priority list will help you decide what can get put on the back burner and what can’t. Remember, do this thinking about what will help you feel good about how you’re spending your time. 

    For example, if you love writing but rarely make time for it, consider getting up 30 minutes earlier than normal. Or instead of browsing your phone for 30 minutes before bed, you can write instead. There is always a way to find time for what you love.

    Final Thoughts

    If you love what you do, each day becomes a joyful adventure. If you don’t love what you are doing, life feels like a chore. The best way to achieve success is to design a life you love and live it every day.

    Remember, doing something you love doesn’t have to include big gestures or time-consuming projects. Start small and grow from there.

    More on How to Do What You Love

    Featured photo credit: William Recinos via unsplash.com

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