Are you itching to start your own company and wondering which business schools would best help you achieve that dream? This week, Poets & Quants announced the results of their 2019 survey of the top MBA programs for entrepreneurship.
Granted, the best programs acknowledge that they don’t actually create entrepreneurs—they merely nurture innate ability. More than 1 in 10 business school alumni are self-employed, and the longer they’ve been out of business school the more likely they are to have taken an entrepreneurial career path, previous Graduate Management Admission Council surveys have shown.
These are the programs that offer a broad range of courses in entrepreneurship, as well as significant opportunities for networking with established entrepreneurs, launching start-ups, and developing the skills needed to start successful businesses.
Top MBA Programs for Entrepreneurship
1. Babson College (tie)
1. Stanford Graduate School of Business (tie)
3. MIT Sloan School of Management
4. Harvard Business School
5. Wharton School
6. USC Marshall School of Business
7. Michigan Ross School of Business
8. Chicago Booth School of Business
9. UV Darden School of Business
10. Rice Jones Graduate School of Business
So what methodology does P&Q use, and how does it compare with other popular rankings? “We at Poets&Quants take a dollars-and-cents look at business school success in the startup space,” explains editor-in-chief John A Byrne. “One clear takeaway from the 2019 list is that access to capital for a young MBA entrepreneur is brand dependent. In general, the better the business school brand, the more likely it will help you raise funding for your idea.”
Why an MBA Makes Sense for Entrepreneurs
B-school will teach you how to run and grow a company – not just launch it. Many entrepreneurs have failed at getting their business idea off the ground precisely because they didn’t have some of the necessary tools in their arsenal that they would have learned at business school.
You have to be able to transition your idea into an actual business. It might be a startup, but you want it to grow – and last. More than many other business roles, an entrepreneur needs to know a little bit of everything. Even if you start a tech company, someone has to do the accounting, know how to market your product or service and act as a leader for the team.
If you choose a business school that relies heavily on the case method, you’ll likely learn from others’ successes and mistakes about growing too quickly. Also, those classes in human resource management, business law or venture capital financing could help you head off some thorny workplace issues later on.
We’ll leave you with these words of wisdom from Alejandro Cremades, author of The Art of Startup Fundraising:
“Business success requires business preparation. You don’t have to be a master tactician, but you do need to have a plan in place. This plan will act as a foundation for everything you want to achieve.”