The economic trouble facing our nation, brought about by a complete failure of government, has led the nation into a deepening recession and remains on the path to hyperinflation.
Eventually, our politicians will be forced to change directions and cut government entitlement spending like Greece and other European nations have began.
At that point, which is fast approaching, the nation will finally face up to the facts that we have been spending beyond our means for decades.
Big businesses are going to be in big trouble, many are already cutting staff and the only reason they are still open for business is because of government stimulus. Once the government is forced to cut spending, they are going to cut employees like hot cakes.
So the reason I chose not to pursue my MBA is because my economic analysis and my business trend research showed me that MBA’s are not going to be needed in the foreseeable future. The economy will not need people that are trained to grow large businesses because large businesses will be crumbing.
The deepening recession needs people that are trained in entrepreneurship. People that are capable of started a business in the garage while living with their parents, with less than $5k.
And this is why I didn’t pursue my MBA. But don’t get me wrong about education, I love education and strongly believe that education is always the path to economic growth. But that education needs to fit the current economy conditions and MBA’s are no longer needed in this economy.
Steve Blank is a retired entrepreneur and he has figured out what I have, that entrepreneurs need a difference education. Here is an excellent video presentation of Steve explaining his findings.
Link to Video: Startup Lessons Learned (Why Accountants Don't Run Startups)
Steve predicts that the MBA schools will be converted into entrepreneur schools, but that will take several years, which leaves only one other option for struggling families that are caught up in the recession.
That option is to learn how to start a business in your garage by trial-and-error, on the job training. And if the jobs are not going to come back because the economy is not recovering, then the sooner you start a business the sooner you will start gaining the training that you need for the future.
A lot of people are saying that the government should provide funds for retraining people to transition into new jobs, but the training that people really need isn’t being taught in the schools.
Therefore the only way to get the training you need is to start a business or join someone else that is starting a business.
In the video, Steve says that entrepreneurs are not organized like accountants, but are more focused on a mad search to find a business model. Employees are trained to follow a process, work a 9-5 schedule with a virtually guaranteed paycheck.
Starting a business is completely different. It’s very hard to forget everything you have been trained to do for the last decade as an employee and start thinking like an entrepreneur, but that’s what we need to do as a nation.
And it’s even harder to remain employed and continue thinking like en employee, knowing your job is not going to last and preparing for your exit by thinking like an entrepreneur building your startup on the side.
That is the challenge that I am in.
To make matters worse, the current administration is making it much harder for startups to find a business model. Much of Obama’s policies include new taxes, health care reform tax, investing tax increases, energy taxes and the increase in regulations make it harder and harder to find a successful business model.
Most of these will need to be completely reversed before the economy will ever recover. And that means waiting for the next President before these barriers can begin to be removed and people can start finding business models.
Until then, if you lose your job and don’t have the savings to pay the bills, you’re screwed.