The Life of an MBA Entrepreneur

When you are getting or thinking about an MBA, you might be imagining a high dollar salary, a business class flight and enough earned points to garner a stay at the Ritz.

Running your own business, however, might be less glamorous. There are a lot of long nights, crowded rush-hour train journeys, and lunches from home.

However, becoming an entrepreneur is the most fulfilling career there is – although, I might be biased.

My choice wasn’t based on salary, fancy hotels, or any other perks. My decision to start my own business was because of the potential I saw in the entrepreneurial space, and the ability to make a real impact.

My MBA experience gave me the skills I needed to take on the unique challenges of becoming an entrepreneur.

Like bankers or consultants, ever since we started Flat-Club, I’ve gotten little to no sleep, but I wouldn’t change that for the world, because the reason is different: I can’t sleep out of passion, out of thinking how else we can improve and then implementing it. I can’t imagine a career more exhilarating, and more engaging than my own as an entrepreneur. Another famous ‘club’ for which we are named had a founder who never slept - and I take that on board as good advice.

Solving Problems

I’ve always considered myself a problem solver – and there is no better way to test yourself and hone your skills than to solve problems with the limited resources of a start-up. If you think you’re good now, wait until you try being an entrepreneur.

When running your own business, the problems you face are your problems to fix, and you don’t have to be concerned with bureaucracy & ‘higher-ups’ getting in the way of solutions; you are the higher-up, and the only person stopping progress is you.

You can really get things done, and quickly. When I see a problem, I can solve it that very same day. Sure, maybe sometimes it isn’t the ideal solution, but it is always certainly a faster turnaround than when I worked in big corporations.

I really believe that this is the most fulfilling career for a problem solver.

Influence the World (...or, at least your sector)

Most of the big players in the business world are cemented; they’re number one, they’re number two, they influence each other and little else. Not that there’s anything wrong with that, but you may feel like you’re not participating in much if you work in management of one of these places.

An entrepreneur can influence so much more than that. I don’t have to tell you that the biggest names in the tech scene for the last ten years have been entrepreneurs and people who love to solve problems – problems a lot of us might not have even known existed. These guys came in and changed most of our lives, in the things we check every morning or the way communicate with one another for instance.

You can influence within your network, as well – which will be all the larger if you’re an MBA graduate. If you have a great idea, share it! Don’t be afraid to tell people what you’re thinking, it is the best way to get feedback. I will touch more on this topic in later posts.

Another big thing that an entrepreneur can do that more established players can’t is shake up the industry – and do something brand new. At Flat-Club, for example, we’re able to do something quite different within the travel & accommodation industry by imbuing our service with an extra level of trust and protection, something we wouldn’t have been able to accomplish if we were all just working within a big corporation.

The smaller your company – and you will start off small – the more agile you can be. If you see a problem, you can fix it, whether the problem is just within your company or one that affects the whole industry...or the entire world. Who wouldn’t want that opportunity?

No Limits

When you work in a big company, as I did for many years, you find yourself pushed up against limitations – limitations that you had no part in creating, limitations from others who think that your idea isn’t possible and aren’t willing to try. Running your own company means no limits, except for those you set for yourself...and the natural limitations of nature – so don’t expect to be able to fly as an entrepreneur!

You can, however, change course on the fly. If you find out your first plan isn’t working, change it. If you need more time to work on something that came up unexpectedly, prioritize according to your needs.

You may be working all day and all night, but it will be on something that you love.

I can’t imagine doing anything else, now that I’ve started living my life as an entrepreneur –  but I can’t imagine becoming an entrepreneur without my MBA.

If it doesn’t work out you can always go back to a corporate career, but if you have a great idea, there’s no reason not to try and bring it to life – regardless of the loss of air miles!

About Nitzan Yudan

Nitzan Yudan, 33 years old, lives in London, graduated with an MBA at London Business School, and has 12 years’ experience in finance, IT, and tourism. Nitzan is the founder of Flat-Club – short term renting within social networks. Flat-Club helps alumni and students of top universities find short term accommodation (from 1 night up to 6 months) with others they trust from their existing networks Flat-Club was founded in November 2010 with 5 flats in London and within its first year grew to 2,000 rooms and apartments in 20 cities and a team of 15 from 12 nationalities as part of the London Business School Incubator.