Entrepreneurial Success is Tied to Education

This is interesting.

According to the poll, 75 percent of the owners have a university degree or degrees from business colleges and community colleges. Forty-nine percent have university degrees, and 27 percent have MBAs.

More specifically, the correlation between higher education and the running of larger and growing businesses is strong. Among firms self-described as "healthy and growing," 52 percent are guided by university graduates, a third of whom have MBAs. That proportion drops along with the success of the company.

"Growing companies are twice as likely as failing companies to be headed by an executive with an MBA," noted the study. However, 25 percent of the owners and managers reported no university or college experience.

I'm not disputing the findings, but I do want to point out that the study just looked at one small sample in Arizona. Is this true nation wide? problemably. But the fact is that any business management sample, whether small biz, large biz, or entrepreneurial, could show similar data. If 27% of businesspeople in Arizona have MBAs, then of course we expect approximately 27% of small business owners to have them too.

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It reminds me of the time my sister told me what she thought was a shocking fact – that the favorite ice cream flavor of the most adventurous people in the world was vanilla. Wouldn't you expect it to be a more daring flavor? Nope. Unless there is some demonstrable connection between behavior and taste, I would expect any subset of the population to have vanilla as their favorite flavor, simply because it is the most popular flavor in the world.