I recently got a question about how valuable an MBA really is for an Entrepreneur. There are many people who will adamantly argue that it is totally unnecessary and will share anecdotes of successful entrepreneurs who either dropped out of B-school or never attended (Bill Gates, Richard Branson, Steve Yang, Larry and Sergey…). While I do not think it is critical, I do think there is value for an MBA to an entrepeneur, especially if you choose the “right program.” As far as entrpreneurship goes I have heard very positive things about Babson, Berkeley, MIT and Stanford and know there are great courses at Harvard and Dartmouth as well.
The 2 things that I have found most valuable relating to entrepreneurship at B-school are 1) the experiential courses and 2) the vast network throughout Silicon Valley. At Stanford, I have found many “entrepreneurship-specific” courses that have taught me very relevant things- how VC’s work, how to create and pitch an idea, how to get funding, how to recruit a team etc. In one class, we pretty much launch a company (in Ethiopia, no less) from idea to market and that was extremely valuable. Another class is specifically about “Managing Growing Enterprsises” top businessmen role-play some of the toughest decisions you will have to make as a leader/entrepreneur. Of course, you will also have dozens of case studies on what entrepreneurs did right and wrong at their own companies.
As far as the network is considered, I can not say enough about how strong and helpful the Stanford network has been for me (especially in the Silicon Valley area). There is a huge amount of VC’s and entrepreneurs throughout the valley who are happy to help a “fellow GSB’er” as I am sure is the case with other top schools. One should definitely consider their future plans, however, as the Stanford GSB network is not nearly as extensive on the East Coast.
Ultimately, I think there is value in an “MBA for an Entrepreneur” but it definitely is not critical as many examples have shown!
The "Hostel" Venture Capitalist 
Interesting post. Where in Ethiopia? I spent a few weeks in Ethiopia and am interested in doing some microfinance type work there in the future. I wonder if you know an acquaintance of mine who recently got his MBA at Stanford GSB. He also spent some time in Ethiopia… feel free to shoot me an email.
Jonathan