Confused about my future - MBA, LLM or start a business?

[Star Ferry]

like anything else it's what you make of it. hiring of MBAs has, based on what I've heard, softened in recent years. mainly because top MBA programs have self-congratulatory cultures where people drink for 2 years and then expect to walk into a plum job. it's cheaper to hire from undergrad campuses, promote from within, or hire laterally

[mcstones]

I will advice you to start up a business.

[Stig722]

Some great advice and tips here. Seems like the consensus is either do an MBA or get going with a business. Ditch the MBA even if it's business orientated and offers access to networking events in places like Stanford.

[brandrea]

Originally Posted by Fleetlord

Trades will make $$$ .

HVAC, Plumbing, Electrical, Framing..I could go on and on

I agree. Every one of my high school friends that owns a trade related company has done super well.

[brandrea]

Originally Posted by Vivalas

I can’t advise you on the above because I haven’t got either of those qualifications, but I went self employed at 23 and have built a financial company and a property business and I always remember one bit of advice:

1. Find something you like doing.
2. Get food at it.
3. THEN find out how to make money out of it.

If you look for the money in something you hate, you’ll never last at it.

Good luck :-)

This advice really resonates with me and that’s exactly what I did.

OP, look to opportunities that truly interest you. Be passionate about your endeavors and then develope a way to make money with it.

[majorleon]

Originally Posted by TheVTCGuy

Stig, I can’t offer much advice but wish younhe best, if it’s any conciliation I’m confused about my future too... and I’m 55 years old!

Of course , maybe you could start up a business.

[Goughie]

Originally Posted by brandrea

I agree. Every one of my high school friends that owns a trade related company has done super well.

Echoing this again, I'm 25 and a couple of my friends the same age as me have set up trade businesses in the last couple of years. They are by far the most successful within my friendship group.

[Art 1]

Originally Posted by Fleetlord

Trades will make $$$ .

HVAC, Plumbing, Electrical, Framing..I could go on and on

That’s what I did many years ago. A few years ago I merged up with a younger guy since I’m gone so much traveling, we are spending time in DC now infact. He’s not yet 30 and has made a small fortune. He was asked to speak at UCF to speak to young business students. The first thing he told was to quit college and learn a trade. We could work every second of the week if we wanted too. I shake my head and feel sorry for young people taking stupid majors in college waisting their time. Most of them have no idea how to work or even use a tool. I know this young man makes more money than many doctors or lawyers. And to look at him or me you would never know.

[mikea]

As has been mentioned, I would strongly look at defining "success" differently than solely financial. In my experience if you can find and understand a greater purpose...performance, success and finances will fall in line.

The destination is the journey.

[bing240sx]

start a business and get that business to pay for your MBA.

I just started another business and am consulting on additional fledgling business i may take a stake in but i also intend on growing the cash flow of the businesses to pay for certain educational or licensing objectives for myself.

[GoingPlaces]

Originally Posted by THC

Bartend, then get elected to some high office

Exactly!!

[RW16610]

Some great points made in this thread that can potentially be helpful as you make the difficult choice. Best of luck to you

[cdlerx]

If you have the capital, i think you should start your own business. Good luck.

[betterwatchit]

Education only gets you so far. Once you have a foot in the door of any industry, hard work and results will count for far more. My advice, work in an area you’re genuinely interested in, work hard, deliver results, and you’ll be well rewarded. I’ve recruited many successful people through my career and the characteristics I look for (intellectual ability is a given) are hunger and drive.

[SharpSky17]

Hey, 28 is good age for starting your business, as some comment above were advising, try using some webs, those people have a lot of good info to use. Also never forget about marketing. Without it, your business won't live very long. I was using this service to advertise my business.

[Gharddog03]

military officer

[cvera]

The biggest challenge I see from going to corporate is the initial transition where you no longer receive medical and benefits as well as sacrificing a stable paycheck. If you have those figured out, I'd begin the business route.

[eddiemonster]

There is advice that I agree and disagree on here. Some people need a structured formal education to develop their brains beyond a high school level, others may not. For me, my life would be unfulfilled if I was a wealthy buffoon, ahem, LOL! I own restaurants and I deal with uneducated subordinates. I have learned that you can't rationalize with uneducated people. I have one young man who joined the Army as infantry out of HS and I can tell you, he cannot carry a meaningful conversation, get his point across concisely, etc...in fact, it is sometimes embarrassing to hear him talk to patrons that I know are educated, as he is just (incorrectly) regurgitating news he heard, etc. This clearly does not apply to you, but there are some people here that are advising that one can drop out of school and make millions. Sure you can, it's America! But that's fine if all that is important to you is money. What about being able to hold a conversation with cultured people, or being to teach your child arithmetic, grammar, etc...Again, some people don't need a formal education, but there are far many more that don't THINK need one, but do!

The other point that I do agree with is the member who quoted Kipling. Starting your own business hardly guarantees success and wealth. There are probably more people that go bankrupt than succeed, especially true in the restaurant business. I have an MBA, but in my profession, I have a white collar education, working in a blue collar industry, making a living serving white collar patrons. It is humbling at times and yes, I have to answer to my customers, banks, creditors, and all of the agencies that regulate my business.

The restaurant market is saturated with competitors and I am also at the mercy of trends and factors that I have no control over. Millennials and Gen Z'ers would rather have food delivered than dine-in, but I have servers that I need to keep and they need to earn a living. The delivery services want 30% of the sale, etc, etc. When there is snow and I can't open for business, I am losing money and I have to pay a guy to plow the parking lot so the ti Can open the next day. I pay my staff weekly, which means that when I have a bad week, like getting hit with a $5K or $10K HVAC bill, I can't pay myself. Times like that, I do think about the single electrician that just spent 2 hours on a repair and billed me for what equates to a few days worth of revenue that required an entire restaurant staff to pull off! During the sub-prime recession, I would have gone out of business if I didn't own the real estate! But I couldn't have owned the real estate, that is now worth several million in equity, without the blood, sweat and tears...Not crying (maybe I am), but I am trying to point out that you have to climb ladders. There is not (necessarily) a pipe dream that leads one to making beaucoup bucks. Being in business definitely doesn't guarantee this and did I mention that it can be stressful?!

Good luck in your endeavors!