Do I need a BBA/MBA degree to start a business?

[jamahir]

Care to explain what you did that caused the company to close doors -- could be a lesson to others.

Hi, what I did was insist on a new employee ( which in hindsight was an incorrect approach, we didn't really need a new employee ) and conducted interviews and shortlisted two candidates. And my partner didn't agree to pay for this employee and this lead to further misunderstandings between us and ultimately to me ( wrongly ) declaring that I am no longer part of the company. I was the main technical side and my leaving effectively ended the company.

But my partner was a good person and some years later greeted me warmly and even his parents are on good talking terms with me.

All in all, I had found a good business partner but I admit I took that one incorrect decision which closed the company.

 

[Indos]

Hi, what I did was insist on a new employee ( which in hindsight was an incorrect approach, we didn't really need a new employee ) and conducted interviews and shortlisted two candidates. And my partner didn't agree to pay for this employee and this lead to further misunderstandings between us and ultimately to me ( wrongly ) declaring that I am no longer part of the company. I was the main technical side and my leaving effectively ended the company.

But my partner was a good person and some years later greeted me warmly and even his parents are on good talking terms with me.

All in all, I had found a good business partner but I admit I took that one incorrect decision which closed the company.

Why dont you just reestablished the partnership once again. Any way, if you have already registered the company legally, you are still part of the company as one of the owner. So technically, the company is still exist.

 

[jamahir]

Why dont you just reestablished the partnership once again. Any way, if you have already registered the company legally, you are still part of the company as one of the owner. So technically, the company is still exist.

1. We hadn't actually registered the company though we had visiting cards and a name-board beside the internal staircase outside the office.

2. My partner waited for me for a while and then went away to USA to study. He lives and works there now.

 

[Indos]

1. We hadn't actually registered the company though we had visiting cards and a name-board beside the internal staircase outside the office.

2. My partner waited for me for a while and then went away to USA to study. He lives and works there now.

Do you still work for another software making project ? I heard that you are going to set up another company bro ?

I have 2 cousins who have IT degree. Actually both of them are brothers. The younger one now works in a multinational company and the older one just made a popular website and get income from Google adsense. He has some years experience working as IT staff in an oil and gas company but seems doesnt like pressure and tight schedule.

 

[Blacklight]

Academics earn peanuts for the level of professionalism and knowledge they have.

Dont rub it in, I'm learning it the hard way

 

[PakFactor]

Dont rub it in, I'm learning it the hard way

Lol. What you teach and you in states?

Hi, what I did was insist on a new employee ( which in hindsight was an incorrect approach, we didn't really need a new employee ) and conducted interviews and shortlisted two candidates. And my partner didn't agree to pay for this employee and this lead to further misunderstandings between us and ultimately to me ( wrongly ) declaring that I am no longer part of the company. I was the main technical side and my leaving effectively ended the company.

But my partner was a good person and some years later greeted me warmly and even his parents are on good talking terms with me.

All in all, I had found a good business partner but I admit I took that one incorrect decision which closed the company.

I see. Though in my opinion it’ wasn’t a serious issues I guess your partner took it as a slight you conducted interviews anyways and saw it as unreliable.

 

[jamahir]

Do you still work for another software making project ? I heard that you are going to set up another company bro ?

I have been designing a microprocessor for some years now. As you know the microprocessor is the most important hardware in a computer and my design is the only design local to India. I think I can confidently say that.

You are right. I do intend to set up a company to commercially develop this microprocessor and then the software for it ( the operating system and applications ). When this Corona crisis ends I will register the company. I have found that it takes slightly more than 4000 rupees to legally register the company. After that I intend to approach venture capitalists to ask for money for electronic things essential to design the processor ( FPGA boards, logic analyzer etc ). For the engineers, I have decided to approach computer electronics training institutes to recruit the engineers from there. Their salaries I will either obtain from the venture capital fund or tell these engineers that I won't be able to pay them until we are able to bring out a working model of the processor.

Also, I will ask a friend of mine to design a website for the company.

the older one just made a popular website and get income from Google adsense.

That's really good, brother.

What is the website about ??

He has some years experience working as IT staff in an oil and gas company but seems doesnt like pressure and tight schedule.

Maybe he was destined to set up this website.

I guess your partner took it as a slight you conducted interviews anyways and saw it as unreliable.

Possible.

 

[Indos]

I have been designing a microprocessor for some years now. As you know the microprocessor is the most important hardware in a computer and my design is the only design local to India. I think I can confidently say that.

You are right. I do intend to set up a company to commercially develop this microprocessor and then the software for it ( the operating system and applications ). When this Corona crisis ends I will register the company. I have found that it takes slightly more than 4000 rupees to legally register the company. After that I intend to approach venture capitalists to ask for money for electronic things essential to design the processor ( FPGA boards, logic analyzer etc ). For the engineers, I have decided to approach computer electronics training institutes to recruit the engineers from there. Their salaries I will either obtain from the venture capital fund or tell these engineers that I won't be able to pay them until we are able to bring out a working model of the processor.

Also, I will ask a friend of mine to design a website for the company.

Thats an ambitious project. I hope you can convince that venture capitalist to finance the project or maybe you can get finance from government since you said that it maybe the first local microprocessor design in India.

And dont forget to make something based on market perspective rather than your own ambition and idealist. Particularly for something that will be your first business. Something like what Elon Musk was doing can be replicated. He is very pragmatic in his first and second business. He first made a software for media companies together with his brother. I think media company needs a program to make their journalist work more efficient. His dream project then is made later after he has already had a running company and much money.

You can easily design a website through wix.com.

That's really good, brother.

What is the website about ??

If I am not mistaken, the website is talking about IT stuff, something that is not far from his education and experience. The sad thing is that his English is so bad so I guess his website only use Indonesian language and only get viewer from Indonesian people.

 

[Xone]

My experience tells that it is person who is more important than degree .please read this book
The Personal MBA - Josh Kaufman to see the difference of formal and informal education in MBA .no doubt education is important but it can not take the place of experience.

 

[rambro]

Higher education not needed...just emulate trump the crooked businessman

 

[jamahir]

When selecting graduates, it is important to conduct quality testing, or use experts from the assessment center. This way you can recruit more creative employees.

1. I am myself a college dropout having dropped out in class 12. I reject the Capitalism-oriented mostly-useless Indian so-called education system. However, there will be a few engineers and non-technology people who are sensible and creative and have to be guided by designers like me. They need not be college graduates at all but I have no objections if they are sensible and creative.

2. What is an assessment center ? There is a major computer training company here in India called NIIT and it I think still has something called Psychometric Tests. Are you talking about this ?

 

[Wolfhunter]

With so many videos from self described successes, get rich quick schemes etc. I thought writing about this specific topic was kinda the need of the hour, especially for the young ones in our culture. Your opinion?

Do I Need a BBA / MBA degree to start a business?

With the wealth of knowledge available on the internet, there are some that have given rise to the idea that 'degrees are useless'. With new graduates being paid very little, the critics believe that one should pursue business opportunities instead. A business in its simplest form is an individual/ entity/organization trying to sell a product or a service to earn a profit. This activity certainly doesn't require a formal degree. However ....

Read full article here.
https://business-educator.blogspot.com/2020/03/do-i-need-bba-mba-degree-to-start.html

No you don't. Sir Alan Sugar a very big businessman in the UK had no qualifications when he started his business and he is presently worth 1.21 Billion GBP.

 

[Khan_21]

MBA is worth it if its from a brand school. You go to MBA for the network you will built not the classes itself.

For example if you do your MBA from a brand name school in US most of your colleagues will likely end up at Google/Microsoft etc which will give u a leg up in the recruitment process.