Why business school? Why now? (and for real this time)

Well, finally a posting that's not about fotochatter. I do reserve the right to post about it entirely too much, just so you know. As the famous song goes, "It's my blog and I can write what I want to." Well on to the matter at hand.

It seems every bschool asks some version of the question "Why business school?". And it also seems that everyone (applicants, students, admit committees) all realize that this question is a sham. Everyone writes down some variation of their reasons, but no one gives a really honest answer, simply because the honest answers aren't really that exciting and usually aren't very politically correct. Rather than discussing whether there is any worth in asking the question in the first place, other than to stage a large fictional essay writing contest, I wanted to spend some time and answer the question for real, and be brutally honest.

My case is slightly unique. As an entrepreneur, an MBA is not nearly as helpful as it would be in the corporate world, Wall Street, or a consulting firm. In fact, I have been questioned repeatedly about my reason for getting an MBA, given my career choice. In thinking about it, there are a number of reasons I am getting an MBA, and quite excited to do so:

1. Sometimes I need a "real job"
I have been involved some type of entrepreneurial venture my entire career. However, during this time I have also done tours of duty in the corporate world, shifting my entrepreneurial ventures to the side. Strangely enough, I didn't hate it in corporation land, but one of my major difficulties was in convincing people that I could do more than whatever small box (usually technical) that my job description entailed. This has been a source of endless irritation and frustration. Not surprisingly, one of my major reasons for getting an MBA is so that I will have a better selection of roles to choose from for those times when I do have to have a "real job". Until one of my entrepreneurial projects hits it big, I will keep cycling back and forth between working for myself, and working for some company. An MBA (hopefully) will make the latter a little more enjoyable.

2. Why not?
I'm financially OK, and I'm not tied down to any particular area right now. I don't particularly like the idea of spending the next two years in the daily grind. If I could go spend them in a new place, meet new people, and have new experiences, why wouldn't I? Answer: Because it costs SOOOOOOO much. Well yeah, but it's not like we get to take it with us when we're gone. Besides, any budding MBA should know that as an entrepreneur I am probably not risk averse when it comes to spending a bunch of money on a hunch.

3. I will learn something
I don't believe all those out there who essentially say an MBA is worthless and that you gain very little in the way of real learning. I'm not quite sure why this degree in particular is singled out for such scrutiny, but I am positive that someone like myself will learn a great deal, especially considering that I do not have a formal business background. Also, I will be able to interact with many people who have no interest in entrepreneurship and are set on becoming bankers, or marketers, or consultants. While at first this may seem to be counter-productive, I think being surrounded by a diverse group of people will help to round-out my perspective on things.

4. Because it's Wharton.
This is probably a reason that most people won't admit, but being able to go to a top school is a big deal. Not only will you always get the recognition, but for many of us, this is the first time we will get to be in a "top" institution of learning. I won't even begin the debate over whether it's the best bschool, but lets just say it's certainly somewhere in the top 3 or 4. There is something that goes all the way back to my college days that wanted to do something like this, and it will be really nice to get to experience being “one of the best”. You can call it ego, or whatever you like, but, at least it’s the truth.