Getting Your MBA - Worth it for IM?

44 replies
I'm a bit clueless about this topic because when I went to college I was the first person to graduate with a BA in IM ('98-'02 believe it or not). Most of what I learned in school turned out to be useless and I often knew more about IM then the teachers just from learning and taking part in IM on my own. The teachers even let me help speak about IM during those sections of their marketing classes on a couple of occations.

It was vital for me to learn how to use statistics and numbers, and the traditional marketing knowledge was helpful, but I wonder if a Masters would be completely useless in today's IM industry? What could a professor tell me that I haven't observed on my own already from being an active part of the IM world? I think a lot of the MBA knowledge such as finance & econ would be usefull, I just don't know if it would be worth it.

What's your opinion or experience?
#mba #worth
  • Profile picture of the author ChrisJamesG
    I think you'd be better off spending the time doing rather than learning. But then I don't actually know what the Masters course includes...I would of thought it'd be more focussed towards e-commerce and internet business law and the like rather than actually 'how to make money online' or 'how to drive traffic to your site'.

    What modules would the course include?
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    • Profile picture of the author Marty S
      I am trying to convince my son to take a year off before he goes to college and work with me. I want to set him up so that when he does return to school he won't have to worry about money.

      MBA is nice but, as my father-in-law once said, "I've seen a lot of people wipe their azz with their degree" Yes he was old school, and really I think the best is a balance between street smarts and education, but his point is that you just got to get down to work and make things happen.

      In response to those around me now who ask that familiar question - "Marty, what exactly do you do?" I have a short answer for them - I think about what people think about, when they use the internet.

      Personally I don't think you need an MBA to figure out the answer to this, but you do need a system and some rather intense dedication to take advantage of understanding what others are thinking about.
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    • Profile picture of the author DavidTheMavin
      Originally Posted by ChrisJamesG View Post

      I think you'd be better off spending the time doing rather than learning. But then I don't actually know what the Masters course includes...I would of thought it'd be more focussed towards e-commerce and internet business law and the like rather than actually 'how to make money online' or 'how to drive traffic to your site'.

      What modules would the course include?
      Here's what the UCLA program looks like: UCLA Anderson School of Management | MBA Program | Curriculum

      Mostly electives so I guess it depends on what you go for. I would just have to think that going for marketing wouldn't be the best fit, personally, as something like finance or econ would be much more useful.

      From reading some of this info I can see that there are some really good advantages:
      - Tied into a network of CEO's and Alumni
      - The degree alone allows you to go to work for the best companies in the world
      - You're typically learning from very successful business owners & managers out there
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      • Profile picture of the author yoshiko
        DavidTheMavin,
        I have an american MBA. You need to have sufficient work experience to fully appreciate what the program teaches you.

        Whatever MBA you decide on, make sure that you USE what you learn. Application is very important, otherwise, there is absolutely no point in spending that kind of money to get that piece of paper.

        What an MBA gives you is the depth and breadth of the business world, how to manage a business from varied aspects like marketing, financial management, how the economics of your industry drives your business, people management, leveraging on information technology to further grow your business.

        Regardless whether your intended path in work is to become an entrepreneur or corporate person, you could benefit from the teachings of the program, not forgetting networking with the right crowd. A good one will become an eye opener for the student, helping him or her to develop business skills that think outside the box.

        That said, I know of many friend and business associates who do not have MBAs, who are rising up in the business arena because they have the persistence, the learning spirit, never say die attitude, skills in networking with the right kind of people. And there are successful others with business blood in them, they just know how to go about managing and growing a business.

        So there you have it. My 2 cents worth. Hope it helps.
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        • Profile picture of the author writergirlk
          Ah, so are you saying that you aren't quite sure what your goals are? That you aren't sure which direction you want to take your IM? That seems like the key to making a decision either way.

          You know, I've been entertaining getting a Masters all day - not in Internet Marketing, but an MS in some sort of Health Sciences. Don't know why. I don't really need it. I mean, what would I do with it? I am a trained Herbalist, I have a BA (in English)... My ultimate goal is to write about herbal medicine it and educate people but oh wait, I already do that.

          And my career - that of being a freelance writer and IMmer - makes the degree unnecessary. Sure, it looks pretty and I did learn to have confidence in my writing abilities - but I didn't technically need it.

          I think I talked myself out of the Masters. For now.

          I told that little story because sometimes I entertain getting a masters (MFA, MS, whatever) just because I want it. Once I think about my goals and determine how the masters fits in with them, I realize I don't need the paper certificate. I would only get a Masters or MBA or whatever if it were actually crucial to my career goals because it is a lot of work.

          With that said, if you have an MBA in something else plus tons of experience as a successful IMmer, an MBA in IM is also redundant. The interview, the resume ... if you have writing and communication skills you have an edge over the competition.

          But for the sake of forward thinking - the people who have an MBA in IM are going to look really, really good to an employer ESPECIALLY if they also have a successful business. It's gold.
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  • Profile picture of the author Lokesh Sharma
    Banned
    Oh, is there even a degree in IM?

    WOW!

    I never knew that. Seems to be interesting to learn IM the regular way students do.

    However, I've learnt many lessons on myself and don't feel like being an MBA in IM.

    - Lokesh Sharma
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    • Profile picture of the author WareTime
      Originally Posted by Lokesh Sharma View Post

      Oh, is there even a degree in IM?

      - Lokesh Sharma
      Yes. It just doesn't include the ethics courses required in a traditional business program.

      Sorry, couldn't resist

      Honestly, I think it would be of little value if you are going to stay working IM and already have a successful business. If you worked in the day to day corporate world, I'd say it's more useful. I'm a year into my MBA and there isn't anything useful for IM that I've found.

      You also mentioned statistics as being something you didn't learn in traditional business that came in handy. Why not take that apporach? What I mean is find an area you could improve that would help your business and go take a class or get some training. Target the weakness rather than the blanket approach.
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  • Profile picture of the author dvduval
    If the degree will help you position yourself to meet the right people, then the answer is "yes", and if you think it will improve your mind in business, why not?
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  • Profile picture of the author Dana Forsythe
    I'm all for education.. but honestly, unless you're planning on being an employee all your life, you dont need the degree. Take the classes for your own benefit and no one else's. I went to college for a year. But even with working full time I could not afford to keep going. Thats when I realized that I didn't want to spend 40k just so I could make 40k/year someday. So when I was 19 I started working for myself. I'm 24 now and still going strong. I made just over 100k last year. My friends are still in college and working for $10/hour.. hmmm..
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    • Profile picture of the author DavidTheMavin
      Originally Posted by mrsforex View Post

      I'm all for education.. but honestly, unless you're planning on being an employee all your life, you dont need the degree. Take the classes for your own benefit and no one else's. I went to college for a year. But even with working full time I could not afford to keep going. Thats when I realized that I didn't want to spend 40k just so I could make 40k/year someday. So when I was 19 I started working for myself. I'm 24 now and still going strong. I made just over 100k last year. My friends are still in college and working for $10/hour.. hmmm..
      I totally see where you're coming from and this is mostly the way I've felt the past 7 years or so. Now I am starting to feel a little bit differently however. Sure 100k is nice, but anyone can make 100k. But with an MBA and a proven track record you can get your foot in the door with a company where you can make $100 Million
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    • Profile picture of the author BlogBrowser
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      • Profile picture of the author Marc2008
        I think you should get your MBA if thats what you really want. I have the same issue and I more then likely plan to. Here's the thing. IM is one of the best things since slice bread. However, in life you always need a backup plan. Even multimillionaire basketball players go back to school so if they ever get injured they still have something to fall back on. Even Shaq went back and got his MBA. Hard to believe I know.

        In life you never put all your eggs in one basket.

        One of the things one of the best IMers that ever lived, Matt Furey said is that you should never just depend on one thing. He was talking about Marketer that whole business model is online only. He combines offline marketing, something your favorite guru would never teach you. Furey also said what if the US gov comes in tomorrow and says hey because of terrorism and other things we have to take away internet access for a couple of years till we get this stuff figured out. Then for many that would mean BAM business dead. Or our great Gov comes in and says hey you guys are sending out all these emails and were not making any money, we need to start taxing that.

        Or I will add what if Google says hey we are changing the rules so no more Google Adsense for now. Or they reduce Adsense commissions significantly.

        Now I know many will argue that this will never happen but my point is anything can and will happen. Look at clickbank's recent issues' screwing around with peoples commissions and Ezine is changing some things that might or might not affect marketer's money.

        Case and point a true business man never puts all his eggs in one basket. Donald Trump. I am looking at Real estate also. So go for the MBA it cannot hurt you it can help you. You may get to through one year and say hey I don't need it. Who knows. Oh and ya you probably don't need it just for IM.
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  • Profile picture of the author montero
    MBA is for working in corporations or with corporations. It's business administration--the business part refers to corporations. It is for these enterprises that these programs came into being. Probably the elementary accounting course would be the most useful if you are not planning on administering a corporation in some capacity.
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  • Profile picture of the author montero
    If you're planning to be an entrepreneur on a large scale--with venture capital, and so on--then the MBA would be useful, if you were to take the right electives, and worked with the right teachers.
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  • Profile picture of the author Peter Ramos
    Hi,

    This might or might not relate to your post. But go ahead and read it.
    I went to UT Austin and was working on my BA for IM and I stumbled
    upon this professor which stated happily that it was his last semester
    teaching due to the fact that he had truly discovered the secrets of IM
    (even though he had been teaching there for 5 years).

    Since I'm the kind of person that wants to know the answers for everything
    I went ahead and talked with him and this is what he stated:

    "I've been teaching IM for 5 years but up until now I discovered the real
    IM. So Im making more money doing IM now than teaching and thats
    why this is my last semester"

    So I figured out going to school to learn IM might or might not be the
    right thing to do, but it certainly helps in getting hook ups here and
    there. Plus you can have that diploma (i call it paper) just to show off.
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  • Profile picture of the author writergirlk
    I definitely think it depends on your goals. What are your goals? Be CEO of a company that takes the IM aspect of the business to the next level? Well, you could probably do that now, but you'll have the paper to give people the peace of mind that you truly are capable. If your goal is large scale like that, go for it.

    If your goal is to have a business working from home typing away making six figures or more - the MBA seems totally unnecessary.

    And if your goals ARE large scale, you're getting the degree at a VERY good time. The financial sector and business in general are struggling to find their feet right now. In about two years, I bet they'll be A LOT of opportunities for people with that MBA because businesses are realizing that they're old ways aren't working.

    Traditional business is behind the times when it comes to IM. It moves so fast. I had a conversation with my sister yesterday about SEO and landing pages - she's in marketing. I was baffled by the approach the company was taking. And of course, she doesn't know much about it and called her big sis for help. If these companies are going to survive, the old ways don't necessarily need to go away, but they definitely need to be educated on how making money on the internet really works.

    So a lot of companies realize that this is important but who are they going to trust? The person who can turn things around who has an MBA in the very subject they need help with, that's who.

    But you don't need it to have your own business.
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    • Profile picture of the author DavidTheMavin
      Originally Posted by kohuether View Post

      I definitely think it depends on your goals. What are your goals? Be CEO of a company that takes the IM aspect of the business to the next level? Well, you could probably do that now, but you'll have the paper to give people the peace of mind that you truly are capable. If your goal is large scale like that, go for it.

      If your goal is to have a business working from home typing away making six figures or more - the MBA seems totally unnecessary.

      And if your goals ARE large scale, you're getting the degree at a VERY good time. The financial sector and business in general are struggling to find their feet right now. In about two years, I bet they'll be A LOT of opportunities for people with that MBA because businesses are realizing that they're old ways aren't working.

      Traditional business is behind the times when it comes to IM. It moves so fast. I had a conversation with my sister yesterday about SEO and landing pages - she's in marketing. I was baffled by the approach the company was taking. And of course, she doesn't know much about it and called her big sis for help. If these companies are going to survive, the old ways don't necessarily need to go away, but they definitely need to be educated on how making money on the internet really works.

      So a lot of companies realize that this is important but who are they going to trust? The person who can turn things around who has an MBA in the very subject they need help with, that's who.

      But you don't need it to have your own business.
      Great post, this brings up an interesting point. Many of the people that are hurting the worst right now are the traditional marketing people that DON'T know about IM. Everyone always says in bad times the first to go is the marketing department, and I've seen this big time now.
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    • Profile picture of the author ChrisJamesG
      This was basically gonna be next point. If you want a job in the business world, go for it. You might even be offered a position with the company you do your summer internship with.

      If you want to make money online with IM off your own back, I don't see how the modules on that course would make all that much difference.

      Originally Posted by kohuether View Post

      I definitely think it depends on your goals. What are your goals? Be CEO of a company that takes the IM aspect of the business to the next level? Well, you could probably do that now, but you'll have the paper to give people the peace of mind that you truly are capable. If your goal is large scale like that, go for it.

      If your goal is to have a business working from home typing away making six figures or more - the MBA seems totally unnecessary.

      And if your goals ARE large scale, you're getting the degree at a VERY good time. The financial sector and business in general are struggling to find their feet right now. In about two years, I bet they'll be A LOT of opportunities for people with that MBA because businesses are realizing that they're old ways aren't working.

      Traditional business is behind the times when it comes to IM. It moves so fast. I had a conversation with my sister yesterday about SEO and landing pages - she's in marketing. I was baffled by the approach the company was taking. And of course, she doesn't know much about it and called her big sis for help. If these companies are going to survive, the old ways don't necessarily need to go away, but they definitely need to be educated on how making money on the internet really works.

      So a lot of companies realize that this is important but who are they going to trust? The person who can turn things around who has an MBA in the very subject they need help with, that's who.

      But you don't need it to have your own business.
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      • Profile picture of the author DavidTheMavin
        Originally Posted by ChrisJamesG View Post

        This was basically gonna be next point. If you want a job in the business world, go for it. You might even be offered a position with the company you do your summer internship with.

        If you want to make money online with IM off your own back, I don't see how the modules on that course would make all that much difference.
        And herein lies the dilemma!
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  • Profile picture of the author zuberr
    I am also facing the same dilemma... to do or not to do.. an MBA.

    Well, I became a fulltime IMer only 2 months ago. I graduated with
    a degree in It 2 years ago and then worked as a Software Engineer.
    When my online income matched my salary.. I decided to quit. But
    LUCKILY (for me) the company I was working for went bankrupt...
    so the choice was obvious.

    When I had the job I was very keen to do an MBA... and now that I
    am working for myself... i cant decide. Some days I wake up and I
    wanna do it.. and some days I feel I'm better off without it...

    All this to tell you that I can't decide what I want myself... How can I
    convince you that you should do or not do the MBA
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    • Profile picture of the author Marc2008
      Me three. lol I am also trying decide on to do or not do an MBA. I was a History major for my BA. Of course I am more interested in business now a days. IM and Real estate. I am going more towards getting one because like someone above said it should help with MY lack of finance and economics knowledge.


      Originally Posted by zuberr View Post

      I am also facing the same dilemma... to do or not to do.. an MBA.

      Well, I became a fulltime IMer only 2 months ago. I graduated with
      a degree in It 2 years ago and then worked as a Software Engineer.
      When my online income matched my salary.. I decided to quit. But
      LUCKILY (for me) the company I was working for went bankrupt...
      so the choice was obvious.

      When I had the job I was very keen to do an MBA... and now that I
      am working for myself... i cant decide. Some days I wake up and I
      wanna do it.. and some days I feel I'm better off without it...

      All this to tell you that I can't decide what I want myself... How can I
      convince you that you should do or not do the MBA
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  • Profile picture of the author Andyhenry
    Don't waste your time.
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    nothing to see here.

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  • Profile picture of the author Tsnyder
    If you want an 'MBA' in IM that will truly be worth something
    I'd suggest studying at the feet of Professors Reese, Kern, Taylor,
    Sanders, Says, Morin, Dale, Henry, etc.

    Tsnyder
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    If you knew what I know you'd be doing what I do...
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    • Profile picture of the author bethrobinson
      I don't see the point in an entrepreneurial IMer getting a general MBA unless they are at the point, oh, perhaps where they have 20 or so people working for them and some of those employees are doing strategic tasks. Then the broader perspective might be useful.

      I'm completing my MBA as we speak (in addition to my full-time job). It has been inspiring but I think my overall business mindset has been influenced more the blogs I read than my degree and I'm not applying any of it directly as I'm getting started in IM.

      I have seen MBAs with specialties in Internet Marketing advertised, but I forget where. They might be more worthwhile. It's likely, though, that they are not geared toward the entrepreneurial efforts that are the focus of most Warriors, but rather to people who want to work for large corporations doing internet marketing. They might also be useful to people who want to consult for mid-large corporations because the credential could help you get in the door.
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  • Profile picture of the author Wakunahum
    I would just audit a few courses and see if it's something you can actually apply to your business first.

    It's a low cost option and you won't have to do any projects that you think are a waste of your time.

    Maybe you will learn alot and want to pursue it more formally.
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  • Profile picture of the author JamesX
    Originally Posted by DavidTheMavin View Post

    I'm a bit clueless about this topic because when I went to college I was the first person to graduate with a BA in IM ('98-'02 believe it or not). Most of what I learned in school turned out to be useless and I often knew more about IM then the teachers just from learning and taking part in IM on my own. The teachers even let me help speak about IM during those sections of their marketing classes on a couple of occations.

    It was vital for me to learn how to use statistics and numbers, and the traditional marketing knowledge was helpful, but I wonder if a Masters would be completely useless in today's IM industry?

    What's your opinion or experience?
    My Masters isn't that useful. I've learned more real world info from get altitude and various ebooks over 2 months than I did in the 4 years at business school

    ....and I don't have to jump through hoops or do a dissertation.

    It's worth noting it's in business studies and not marketing based although there's a heavy amount of marketing material. I can draw you up an awesome breakthrough kaizen efficiency system for production but that doesn't help on the net man. Quantatative analysis and projection in making business decisions .....yeah hard stuff but pointless when excel exists and can do it all for you.

    If there's any person out there thinking of taking a higher qualification in business; do it only for self satisfaction or for a nice display frame on your desk.
    If you want to make cash, get stuck right in.
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  • Profile picture of the author Mynt
    I'd say go for it. Get an MBA.

    Technology can change.
    Markets can collapse.
    Governments can control.

    One thing NO BODY can take away from you is your education.
    Particularly at this day of age with tension all around. War can result in displacement--perhaps a degree can mean the difference between getting a job, or starving to death in a war-torn society.

    I'm a junior in undergrad majoring in biomedical engineering. $100k/month income wouldn't be enough for me to drop out. Maybe $100 million, then I'd just have my own funding agency


    Hope this help and good luck!
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    • Profile picture of the author Ken Strong
      Originally Posted by Mynt View Post

      I'd say go for it. Get an MBA.

      Technology can change.
      Markets can collapse.
      Governments can control.
      And if those things happen, what's going to serve you better? The knowledge that you can earn good money for yourself on your own terms any time you choose to do so (because you've already done it), or being dependent for your livelihood on an employer and/or an entire industry to not change or collapse?
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      • Profile picture of the author Mynt
        Originally Posted by KenStrong View Post

        And if those things happen, what's going to serve you better? The knowledge that you can earn good money for yourself on your own terms any time you choose to do so (because you've already done it), or being dependent for your livelihood on an employer and/or an entire industry to not change or collapse?
        Hmm, you're putting in in a very black and white perspective.

        The OP clearly already has the knowledge to earn money himself (well, seeing he's a well-established poster here).

        And if he gets an MBA, I'm sure we can both agree it won't replace his knowledge/experience in anyway.

        My point is based--as hinted when I said 'governments can control'--that if for any reason, the capitalistic society that we enjoy today is no longer a reality, and consequently earning "good money for yourself on your own terms any time" is not possible, then perhaps he'd wish he gotten an MBA 'back in 2009' to give him a competitive edge over the million, zillions of kazzilions of people who stopped with bachelors.

        But sure, the likelihood of the US becoming a totalitarian regime, or even communist, is so slim--that it's easy to think entrepreneurship is more important than degrees.

        Personally, I would halt anything entrepreneurial for two years if it meant getting a masters. Sure I may never use it--but at the very least, I'll hang it proudly on my wall.
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        • Profile picture of the author Ken Strong
          Originally Posted by Mynt View Post

          My point is based--as hinted when I said 'governments can control'--that if for any reason, the capitalistic society that we enjoy today is no longer a reality, and consequently earning "good money for yourself on your own terms any time" is not possible, then perhaps he'd wish he gotten an MBA 'back in 2009' to give him a competitive edge over the million, zillions of kazzilions of people who stopped with bachelors.
          If the US abandoned capitalism, seems like there wouldn't be much need for people with advanced business degrees either.
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          • Profile picture of the author Mynt
            Originally Posted by KenStrong View Post

            If the US abandoned capitalism, seems like there wouldn't be much need for people with advanced business degrees either.
            Not unless the new gov. needs business masterminds to exploit citizens to expand their control..
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  • Profile picture of the author theinfomaven
    No.

    You can start an internet business for a $3 domain. The rest is writing skills.

    Now go.
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  • Profile picture of the author theinfomaven
    Actually, yeah. Get your MBA so that my non-degreed entrepreneurial self can hire you to manage spreadsheets and get me coffee
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    • Profile picture of the author Marty S
      Originally Posted by theinfomaven View Post

      Actually, yeah. Get your MBA so that my non-degreed entrepreneurial self can hire you to manage spreadsheets and get me coffee
      That sums it up, but I also notice the OPer has thanked the very few responses here that say he should get an MBA - meaning he just really wants someone to tell him how good his decision (already made) is.

      Nothing wrong with MBA, it is a proud distinction but amongst the members of this forum you will find the opposite slant from entrepreneurs who just know how to get things done on their own, learning as they go if need be.
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  • Profile picture of the author JonathanBoettcher
    IMO if you're strictly trying to setup an internet-based home biz or small business you absolutely DO NOT NEED AN MBA.

    In fact, you don't even need a BA. I've got a BA in business and I enjoyed what I learnt, and I think it's great. But did I learn the nuts and bolts that are making me money now? Nope. I learnt a way of thinking that helped me, but all the endless nitty gritties I learnt do very little for me now.

    Take some courses on entrepreneurship perhaps, small business, stuff like that.

    Most MBA's are geared towards a very focused target - and I think 99% of them are for corporate use. You might, MAYBE find one that is geared towards enterpreneurship and that might be cool, but even at that point you're going to be learning things like putting together venture capital and all kinds of other things that you really don't need to know. You can get an internet biz up and running for very cheap - you don't need angel investors and all that other nonsense!

    You're far better off to just sit down, look around, get some recommendations, and pick up one or two of the best courses you can find from a trusted "guru". Go through that. Apply it. Figure it out in detail.

    There are tons of personal coaching or mentoring programs available too. Russell Brunson has one, Mike Filsaime has one, I know many of the others do too.

    Oh yeah, and join a mastermind. You'll learn tons just from talking to peers who are also doing this on a daily basis. That alone would be more valuable than the MBA IMO....

    Just my two cents
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  • Profile picture of the author Bald Brit
    I've worked with people that have had advanced degrees up the
    wazoo. Masters, Doctorates, MBAs, and God alone knows what else.
    Many of them have, alas, turned out to educated beyond their level
    of intelligence and comprehension.

    For some reason, certain MBA types believe they've been touched by
    saints and angels, thereby rendering them almost super human in the
    amount of reverence other mortals are meant to pay them.

    If your intention is to work for someone else, for a salary, and to
    have regularly educated people with WAY more experience
    than you report to you when it's obvious that they know way more
    than you do, by all means, knock yourself out.

    But if you want to be your own boss, save your time, money, and
    heartache.

    On its own, the MBA means nothing. It's how you apply what you've
    learned that matters. Steve Jobs and Bill Gates, and others dropped
    out and don't have an earned degree to their names.

    They've seemed to do OK.

    Ask yourself what your intent is. Why do you want this thing and what
    will you do with it once you've got it? What value will it add to your life?
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  • Profile picture of the author ForeverMoore
    I normally read the answers before I post but I feel strongly about this, NO. There is not one replacement for actually spending hours a day with trial and error for "free". I earned a degree in a different field but due to my knack for reading, I am fluent in a few other areas including affiliate marketing. The degree validates you in corporate America as an employee. Results validate you in business. I would have never learned in a classroom what I know about affiliate marketing since I began in February '06.
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  • Profile picture of the author Popstar
    David,

    Getting an MBA is about creating options for the future, not just enhancing your earning abilities in the present.

    Many people say that degrees in business and law teach you a new way of thinking... but the truth is, these degrees are mostly used as qualifiers for higher paying jobs.

    In corporate America, an MBA is almost essential if you want to be considered for high-level positions. There's also the networking aspect. The people you go to school with today may be the business leaders of tomorrow. Never hurts to know people in high places.

    You don't "need" an MBA to succeed in business. Not all people with MBAs are smart. But the degree can open doors -- and networks -- for you. And you'll think in terms of bigger money than most IMers do. At the better schools, many MBAs start at six figures.

    The most successful IMers haven't made even close to what many MBAs have earned. So I would encourage you to keep your mind open. In fact, with your business experience, an MBA would position you nicely for the next wave in business... when the big corporations really start to move online as a dominant force.

    When that happens, small IMers may go the way of Mom-and-Pop grocers who were marginalized by the big supermarkets.

    Of course, it's hard to predict the future... but that's exactly the point. An MBA plus your marketing experience may position you to compete however things turn out. It's not just about today... it's about tomorrow, too.

    If I were you, I would investigate the different types of programs available. Each school has its own specialty and attracts different types of recruiters.

    If you're interested in continuing with entrepreneurship, then find a program that can let you specialize in that area. But you might also want to explore other areas, too. That way, in case the business world changes to favor another type of experience, you'll have the credentials to get in the door.

    There is no right or wrong answer. But I agree with Mynt: "no one can take away your education."

    Whatever you decide to do, good luck.

    Debbie
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  • Profile picture of the author Christa_Regalado
    Really depends on what your plans are in the long term. MBA's are good for networking. It doesn't necessarily guarantee you anything at all especially now. If you have mastered IM outside the academe, what then would an MBA degree contribute to you? Are they gurus in the field of IM?
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  • Profile picture of the author Christie Love
    Honestly, I think IM is just like any other business, it's all about "who you know" instead of what you know. You can learn a whole lot by being connected with the right person than you ever will going to school. Take that from someone with an MBA.
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  • Profile picture of the author Popstar
    David,

    Let me give a second, more practical and less theoretical reply.

    Here's when getting an MBA is most useful...

    1. If you want to change careers to a different aspect of business, especially if you've reached the limit of advancement in your current company...

    Say you have an engineering degree and some engineering work experience, but you now want to get into an executive position. Then getting an MBA will give you the credentials to make the switch... and it will be easier because recruiters will automatically give you that chance when you graduate.

    An MBA can be a way to get a fresh start if you've been typecast.

    2. You want to make more money in the same field of business.

    This works best if an MBA is valued in the area you want to go into. For example, if you have an accounting degree and some work experience, an MBA can open doors for you to higher management jobs with more money.

    It's usually best to change companies, though, so that management will perceive your value as higher.

    3. You have an idea for a company you want to start, but you need some direction or VC funding.

    If you go to a school with a strong entrepreneurship program, you can meet people who can help you to refine your business idea and make it more marketable. They can also help you get in front of the right people for funding. Don't underestimate the networks in some of the better schools.

    It's also a great way to meet business partners. Many people have teamed up with their business school buddies to start new companies.

    But the entrepreneurship programs often benefit most the people with physical products or those who need some type of funding to get their company off the ground.

    4. You work for a company where management has slated you for bigger things and they've told you that you must get an MBA for advancement.

    If your company tells you to get an MBA, they pay for it, and they let you know it's necessary for your advancement, then get the MBA.

    Here's when an MBA can be a disappointment...

    1. If you get an MBA while you're working and you expect that the MBA will make a difference at your current company (without the express encouragement of your current managers).

    More people have been disappointed in this situation than any other. They usually don't get any more money or advancement in their companies. And worst of all, management doesn't "see" them as any more valuable.

    An MBA works best when you're making a change... either in industries or advancement within the same field.

    2. You're running your own company successfully and you think an MBA will give you the magical answers to take it to the next level.

    Wrong. Most of what you learn is theoretical. Yes, you may get some good ideas. Yes, it's helpful to network. But you can do that without the MBA, too.

    So in my opinion... and from what I've observed over the years... an MBA is most valuable if you want to make a change in careers or in how you're perceived within your industry. It's the fastest way to make a fresh start and be rewarded with more money and a higher position (though you usually have to change companies). It's also good if you need help with fleshing out a business idea or obtaining VC funding if you want to start your own company.

    There's one other thing which may be politically incorrect to say, but it's often true. An MBA from a top school is going to open more doors and networks and usually yield more money than an MBA from a lower-tier school. Especially in a bad economy.

    Of course, if you want an MBA just for the sake of having one, then get one. But for practical, economic and career purposes, what I've outlined above is how it usually works.

    Debbie
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  • Profile picture of the author Paul Buckley
    I'm of two minds. I'm a big believer in the value of education and especially the value of certificates proving you have the education.

    On the other hand, an MBA is basically a degree in accounting and think part of the cause of the economic mess were in today is the flood of MBA's we created in the '70's and '80's all churning the economy to provide jobs for themselves

    (Good grief! S.I. Hayakawa must be spinning in his grave wondering if I'll ever learn the use of the period.)
    Signature

    "Wise men speak because they have something to say; fools because they have to say something." -Plato

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  • Profile picture of the author astaga
    Coming across this thread jogged my memory about a book Kiyosaki wrote entitled
    "If you want to be Rich and Happy, don't go to school".

    I think it covers many of the points contributed here......
    For me, it'll be whether I can learn more from the school of academia or from the school of hard knocks.
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  • Profile picture of the author jhongren
    I feel you can still get your MBA if you are going it based on interest.

    Internet marketing is all about doing. It is about taking action,
    building your business system plus networking (knowing
    more people such as joint venture partners) and learning
    from people who knows more than you.

    I am wondering if for example, we want to be a consultant
    for MNC, will the MNC still look at your paper qualification
    even if you have earned hundreds of thousands of dollars
    from the internet?

    My 2 cents,
    John
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