<p>Hello, I am a mech engineering undergrad. I want to eventually start my own business in the energy field. probably having a bit of each(solar,wind, hydrogen). I however am unsure what route to pursue after graduation. Should I get my phd in engineering and try to start my company from there or would it be better to get my masters in ME work a few years in the industry then get my MBA? Or even yet get my phd then get my mba? I want to be designing new and innovative products and want to have my own business not work for someone else or university.</p>
<p>The problem is that you can’t just say “I’m going to start a company” and go from there. What you first need is an idea. You need to know what you’re going to make/do, how it differs from the other products, services, and companies in the field, how you’re going to differentiate yourself from the competition, and how you’re going to develop that competitive differentiation into a competitive position and competitive advantage. </p>
<p>Once you have a long-term idea and how it will develop over time to be viable, you need to find someone who’s been through the VC process, knows how to find investors and get money from them, and how to establish your financial pipeline. That will give you an idea + money. You then need to start adding in other people (accounting, operations, legal, etc) and the idea and money turn into a product. Then you need marketing and purchasing to turn it into a salable product, etc. </p>
<p>The point is, starting a successful business takes many people and a long-time. Even if you have an Earth-shattering good idea like Google, you can’t do it alone. The degree you should pursue depends on what person you’re going to be in the process. If you want to work on finance, then an MBA. If you want to work on developing the idea, then maybe a BS, MS, or PhD depending on how revolutionary your idea is.</p>
<p>I know you hear stories about Michael Dell starting a company in his garage or Microsoft taking over the world, but despite how sensationalized those stories are, there were probably several dozen or hundreds of similar stories where people failed. It takes luck + planning to start a large company these days.</p>
<p>Admittedly, I don’t know too much about the energy field, but it sounds like something with high startup and infrastructure costs. If that is the case, you’ll always be working for somebody, unless you have the cash to self-fund your company. Just something to keep in mind if you’re dead set on not having to answer to anybody else.</p>