MBA Students Take Fate into Their Own Hands Through Entrepreneurship

November 7, 2011 · Leave a Comment 

One would think that, given the abysmal state of the economy, the idea of starting a new business would be enough to scare away anyone; let alone a new generation of entrepreneurs with newly minted, hard earned MBA’s in their pockets – and a hefty loan on their backs. However, these new entrepreneurs take a different approach to the issues of the economy – as they face the fact that finding and keeping traditional employment is hardly less difficult.

They are also fueled by some of the big-name, multinational success stories that began as garage start-ups; such as Google, Facebook, and Twitter. These companies amongst many others are proof that creativity and performance, and a little risk-taking, can outshine any traditional route to the top. So, in a bad economy, these young business leaders are taking fate into their own hands.

Social Entrepreneurship Captures Focus of New MBA Grads

However, what seems to be a surprising trend is the focus of the students’ attention. These new entrepreneurs do not fulfill the traditional stereotype of the ambitious business student looking to join the ranks of the Forbes 500 and rake in Wall-Street salaries. They are not even beginning new businesses only in hopes of being the next Google. Instead, they are beginning their new endeavors with social responsibility and self-fulfillment in mind, and hope to follow personal passions while also helping the world.

The Washington Post profiled a couple MBA students that exemplify this new entrepreneurial spirit. Melissa Eddison of George Washington University is beginning a new business called Funkstown Food Co-Op that combines both non-profit and for-profit strategies. It would be an environmentally friendly cafe, where customers could get sustainably-grown food and others could volunteer in exchange for food credits. James Li, another budding business owner, has organized a consulting business for non-profits.

These two are just a sampling of a new kind of MBA student – who combines creativity, passion and business acumen in order to have a successful and fulfilling job.

Keeping Their Options Open

These new entrepreneurs still keep the number-one rule about investment security in mind, however. They cannot, with the unstable economy and risky endeavors, put all their eggs in one basket. Many pursue traditional employment alongside their start-ups in order to obtain a minutia of security. They also can obtain – alongside a 401K and health benefits – skills in a different setting that helps them remain adaptable and their vision fresh.

Read Washington Post’s article on the topic here.

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