Make It Or Bake It

Boston does networking right (and, watch me dance)

by Vijay

Every week, I attend 3-4 networking events in the Boston area, mostly revolving around the startup world.  And, they have similar formats:  coffee hour, panels, speakers, happy hour, etc.

But, tonight is DIFFERENT.  Boston Boogie is not like every other networking event.  In fact, I don’t even know if it is a networking event.  I don’t really care, to be honest.  I love dancing (little known fact:  I danced in a hip-hop troupe at Tufts).  And so do ALL OF THESE PEOPLE.  And the fact that it’s a bunch of startup folk makes it all better.

The best part?  It’s a free event but the “price of admission” is uploading your own #boogiedown video.

So, lest I be turned down at the door, I did my part.

http://youtu.be/BvRsi4gvzkk

See you tonight.  And don’t judge.

Schlaf Notes: Interviewing: Come Bearing Gifts →

In defense of the MBA (for entrepreneurs)

by Vijay

A few days ago, I came across a really interesting post by Eli Portnoy, entitled “TechStars or a Harvard MBA” that got me thinking deeply about the value of an MBA for entrepreneurs, so much so that I decided to devote a post partially as a response and partially to share my own take on the topic. 

This is the first time I’ve read Eli’s blog (or to be honest, heard about Eli), but he’s the Founder and CEO of ThinkNear, a pretty cool company that’s aiming to help local businesses with yield management by offering deals to nearby customers during slow periods.  This description probably doesn’t do it justice, but I think it’s an interesting take on deal, location, and mobile-based services that meets a real problem that local businesses have. 

Eli’s also has a MBA from Harvard Business School and ThinkNear was part of the NY TechStars class of 2011, so he has an interesting perspective from both sides of the table (if those two things can even be considered opposites).  I’m looking forward to keeping up with him and reading more of his blog.

For me, one of the most interesting parts of Eli’s posts was that there are two advantages that are the same from both a program like TechStars and a Harvard MBA:  Network and Credibility.  Now, I haven’t (yet) had the privilege of going through an incubator or accelerator program for my company, but I can speak to my experiences as a recently-anointed MBA (from Cornell) who is pursuing my own venture right out of school.

1)  Network:  There is absolutely no question in my mind that the most valuable part of an MBA program is the people you meet and the relationships you make.  I would argue that in no other place will you get close (read: sometimes forced) interaction with such a diverse group of talented and smart individuals who a) come from various functional backgrounds, b) come from every corner of the earth, and c) want to do different things.  This exposure, day-in and day-out, to such a variety of perspectives is ripe fodder for incredible learning experiences.  Personally, I learned as much, if not more, from my classmates as I did in the classroom.  For many of these people, I know what makes them tick.  I know what they’re passionate about, what their short and long term goals are, what their strengths are, and even their favorite food.  And, I can call them at any time.  Pretty amazing.

2) Credibility:  I agree with Eli that having an MBA from a top-tier program does signal a certain amount of inherent selectivity, not just because you got into the program, but also because you made it out.  Taking this even further, there is a certain expectation about what a MBA should know coming out of b-school.  You should know how to build a DCF, be able to recite the 4Ps of Marketing, understand opportunity cost and the time value of money, how to effectively lead and manage teams, blah blah blah.  But, as I’m learning day-by-day, the real proof of this credibility for MBA entrepreneurs is not in the 3 new letters on your resume, but on how well you execute.  MBAs can talk the talk. There’s no question about that.  But can we walk the walk?  I actually feel more pressure to execute because of these “expectations” of knowledge and performance…which is scary.

There are, however, three main disadvantages of getting a MBA if you want to be an entrepreneur:

1) Time:  2 years is a long time.

2) Money:  $100-$150K (roughly, including non-tuition expenses) is a lot of money. 

3) “Inside the Box,” Conservative Thinking:  A MBA curriculum teaches you to think inside a box (a 2x2 box, to be specific…the consultants out there will get this joke).  And at the very essence of entrepreneurship requires outside of the box thinking.  So what gives?  This is by design.  Using frameworks based on well-researched theory can help us make sense of the world, can give us a way to break down and analyze complex problems in manageable pieces, and to evaluate and make well-reasoned decisions.  Are the frameworks always applicable?  Maybe yes, maybe no.  If you don’t have one, make one up.  See if it helps.  Either way, it is up to us to take what we’ve learned and figure out how to apply it to our particular scenarios, whether at a Fortune 500 company or at a startup.

And, there are a few other advantages that are worth calling out:

1) Time:  2 years and dozens of classes can be a great opportunity to figure out what you know, what you don’t know, what you like, what you don’t like, what you’re good at, and where you need work.  It’s a great testing ground to “incubate” your ideas with a whole bunch of smart people who want to see you succeed.  It’s a great (and SAFE) place to fail, and to fail fast.  Even if you settle on entrepreneurship as a “career choice” (if you can call it that) by eliminating all other options, it’s worth the time, don’t you think?

2) Exposure (I’ll allude this to what Eli calls “education”):  As I mentioned above, learning from the experiences of those around you, from the situations you are put through, the classes you take, and from the time for self-reflection exposes you to countless scenarios in both the business and non-business worlds.  Great learning opportunities.

My Conclusion

For me, getting an MBA was invaluable.  I doubt I would have founded MyReci if it hadn’t been for Steve Gal & David BenDaniel’s Entrepreneurship & Business Planning Class.  Or the support and encouragement of my peers.  Or simply 2 years of school, 100K of tuition, and a summer internship at a big company to realize that I didn’t want to be a desk jockey (no offense to my desk jockey friends out there…but, it would be pretty cool to be a ninja).  Any way you cut it, it was worth it and I wouldn’t take it back for the world.

I would love to hear what other MBA entrepreneurs think about this.  And, if you want to talk more about getting a MBA or your experiences, feel free to comment below, email me, or connect with me on Twitter.

An awesome post by @reecepacheco →

It’s about time: Welcome to Make It or Bake It

Hello, world!  This blog has been a long, long, LONG time coming.  It’s actually quite embarrassing that it’s taken so long.  After years of being an avid consumer of blogs, tweets, yelps, likes, pokes, and more, we’ll be using this forum as our way of giving back and hopefully sparking some discussion and thought around interesting topics.  So, please forgive the delay - better late than never, right?

So what will we be writing about?  Given our new venture, MyReci (more on that to come), it only seems fitting that we give you an inside glimpse into what goes on in the life of these food-obsessed entrepreneurs.  It’ll be a little bit food, a little bit startup talk, and a whole lot of making you hungry (for what, you ask? well, that’s up to you).  If you have ideas for posts, we’d love to hear them. 

Posts will be coming from both of us (Vijay & Alex)

Until then, feel free to connect with me (Vijay) on:

Twitter

Facebook

LinkedIn

In the name of all that is tasty, keep it real.

-Vijay & Alex