Find Invest Grow

In the last post I provided a link to an article that asks the question “Should I start a company or do an MBA?” [sic] and we highlighted the common sense response from Paul Walsh –
“The fact you’re asking the question leads me to believe that you haven’t recognised a real problem that people need resolved and you have the answer. So, in short, study for an MBA whilst you continue to earn money in full time employment.”

I want to elaborate on that in this article.

At FIG we always ask the FIG Seeds why they started/ why they want to start their business. We hear two responses frequently at FIG that set off alarm bells…

Over qualified / Over rated / essential?

What is the point of an MBA? Do I need one to start a company?

An MBA (Master of Business Administration) is a post-graduate professional degree. MBA courses cover a variety course subjects, such as accounting, IT management, marketing, financial forecasting, supply management and economics. The depth of the course offers great insight into business, knowledge of a large number of case studies and introduces a wide selection of planning, analytic and operational frameworks.

But will it help you with your start up? Is it essential to get things moving?

 What product?

MAKE SURE YOUR BRAND MESSAGE IS CLEAR. 

What is the reason for your product or service? Is this obvious?

This is an area often overlooked with start-ups. 

You’ve got a great idea for a business, a clear demand for your product or service and you’re ready and set to make the big bucks. 

‘A spot of marketing is all it’ll take to get the word out and I’ll have customers at my doorstep before you can say “new villa in the south of France”’. 

Surely, all you need is a good product and the customers will come flocking.  Well.... No.