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?

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

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?

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..

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.

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.

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.

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.

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

Don't waste your time.

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

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.

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.

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!

No.

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

Now go.

Actually, yeah. Get your MBA so that my non-degreed entrepreneurial self can hire you to manage spreadsheets and get me coffee

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

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?

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.

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

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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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.

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

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.)

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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.

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