I have met many, many people in this lifetime. Some more educated than others. People are genuinely surprised to learn that neither Dani nor I have any sort of business education. Never mind an MBA.
Tracey’s Business Lesson: You absolutely do not need an MBA to start a business.
Now, don’t get me wrong. A business degree can certainly give you some of the necessary skill sets needed that quite frankly, Dani and I just didn’t possess. But what I’ve found to be even more important than an MBA, is good old fashioned common sense.
You don’t need an MBA to tell you that you’re spending more than you’re taking in and to stop. Or when a location isn’t working, or an employee isn’t right for the position they’ve been placed in. Common sense will tell you when you’re paying too much for a product or to a vendor, or when you should or shouldn’t advertise. Listen to the “common sense” side of your brain and let your bottom line be your MBA. It’ll clue you in faster than any pie chart, spreadsheet or conference call ever will. Like my husband always says “Does it pass the sniff test?”
And while I’m on a roll, you don’t need a million dollars to start a business. Another common misconception. Our business was started with a $30,000 loan from my husband’s 401K.
If you need money you’ll be able to find it…Trust me.