Why MBAs should consider working for startups

 

From an outside perspective, it may seem like job seekers with MBAs and startup culture are ill-suited for one another. Employees with MBAs are often more expensive than their non-MBA counterparts, and may have high expectations of stability and a hefty paycheck from their first job post-B school. On the other hand, teams at startups tend to think of themselves as down-to-earth "families," in which everyone pitches in and gets dirty. Can these seemingly counterintuitive approaches to business really work well together?
Despite the differences, MBA graduates and startups can be a fitting match. Startups provide great opportunities for MBAs in leadership and immediate action, while MBAs bring advanced business acumen that many startups need.

A perfect marriage

In the best partnerships, each side fulfills the needs of the other while helping the partnership as a whole grow and prosper. MBAs bring immediately useful skills to startups that many non-MBA candidates simply don't yet possess.

• Decision-making amid uncertainty: Startups need people who can operate independently in constantly changing environments with limited resources, so having someone who can manage others and self-manage drastically improves production. MBAs specialize in leadership and initiative, which help keep everyone on track.
• Communicating for results: Especially in the early stages, startups are selling to everyone — customers, prospective talent, partners, media and investors — so it helps to have an MBA on board. These candidates will typically have strong written and verbal communication skills.
• Balancing tradeoffs with scarce resources: Short-term and long-term goals can be difficult to balance for many startups.
  

  When new fires arise every day, it's hard to put them out while keeping an eye on the future.

  When new fires arise every day, it's hard to put them out while keeping an eye on the future. MBAs have the training to build a startup's strategy and are often privy to a diverse set of industries, companies and vantage points. That kind of wide-ranging experience allows MBAs to see the bigger picture without getting sidetracked by the details.
• Driving with analytics: Without proper analytics, startups quickly find themselves in deep trouble. Young companies need to know what's working and why, and they need to know as soon as possible, since most startups don't have the capital to waste on ineffective strategies. While some non-MBA candidates have a talent for analytics, most MBAs have extensive experience and training in that area.
• Leveraging networks: MBAs often come prepackaged with extensive professional networks; this can be a boon for startups. New enterprises always need to find the next client, partner or investor, and the chances of landing a lucrative new contract improve dramatically when someone within the company has a preexisting relationship with a prospect.

Making an impact

Startups benefit immediately from the acquisition of an MBA, but what's in it for the candidate? As it turns out, quite a lot.
While many MBAs fight and claw for positions at established companies, those who go the startup route receive invaluable experience right off the bat.

An MBA who goes to a megacorporation rarely gets the chance to make a real difference early on.

An MBA who goes to a megacorporation rarely gets the chance to make a real difference early on. Startups, however, provide MBAs with true leadership experience and decision-making authority on day one. With that extra responsibility comes more room for mistakes, but also more room for meaningful success, providing a wealth of experience in a much shorter timeframe than would be possible at a larger company. Despite the fact that one of the benefits of working for a large company is the formalized training, nothing can match on-the-job experience. As go-to decision-makers for young companies, MBAs receive that experience in spades. Whether it's deadline crunches, upset customers or hard-to-please investors, startups never have a shortage of real-world hard knocks to navigate.
As much as they like to try, large companies simply can't replicate the culture for which startups are famous. It's more than just the camaraderie that goes with working as part of a tight-knit group; it's the personal investment in the company's well-being and the feeling of purpose that makes startup culture great.

Getting in the door

New MBAs looking to jump in and start contributing at a startup have several options. Like any position, it all boils down to presenting the best possible face and finding the right match. MBAs searching for jobs can may find the below advice helpful.

• Demonstrate value. Startups tend to have an "all hands on deck" mentality. MBAs don't have a reputation for being eager to get their hands dirty, so breaking the mold can score major points. Even something as simple as volunteering to pick up lunch for the team can go a long way.
• Be flexible. At a startup, everyone has to expect the unexpected. By definition, startups lack the set-in-stone business plans that larger companies have established, so an MBA who shows resilience along with business insight will stand out.
• Show passion. When networking and sending out applications, MBAs must be careful not to appear as though they're indifferent about a startup's industry. Preparing for meetings by reading industry articles and studying sector trends can go a long way toward impressing a potential match.
• Exhibit personality. How well a candidate fits in with the team might actually be more important than his or her qualifications at a startup. At small enterprises, everyone spends most of the day together. MBAs should show that they'll have a positive impact on the all-important startup office culture.

MBAs who arrive on the job ready to get down to business impress the leaders around them. Financial results can go a long way, but for MBAs looking to build a reputation in the startup community, a good attitude and a strong work ethic can go just as far.
The skills that MBAs can bring to the startup scene are just what many young companies need. And startups may just be the perfect jumping-off point for MBAs to launch their big careers. So while it might seem like MBAs and startups don't go together, they can actually be the perfect pair.
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Source: Mashable