People with a more entrepreneurial bent may wonder if an MBA program is appropriate for them. The answer is a definite "it depends." If you already have a viable business idea and the funds or connections to pursue it, an MBA program may just take away valuable time that you could be using to build your business.

On the other hand, consider some of the possible advantages. In addition to the obvious benefits of the classroom instruction, you will have the opportunity to meet other students who may be of use to your venture. Most programs have some kind of entrepreneurship center or program that offers lectures, workshops, resources, and even contests for seed money. You may also have the opportunity to interest a professor in your idea; the faculty in most good programs will have numerous contacts in VC and other useful industries.

If you are currently working and haven't had the time to really pursue a business venture, an MBA program may also provide you a needed change of environment. Don't underestimate the effects of simply breaking away from your full-time job. As with many graduate programs, you will find that there is a fair amount of usable time outside of classes and homework, certainly more than you would have with most jobs.

A final consideration for someone with an entrepreneurial mindset is location. While there are a number of academically competitive programs out there, some may be better than others for matching you up with like-minded fellow students, and some may provide better off-campus resources for business ventures. Consider programs in areas that are noted for start-ups, such as Stanford, UC Berkley, MIT, Harvard, and Boston University. These programs are in or near large cities with highly-educated populations and a huge number of college students.

There is certainly no rule of thumb here, but if you have already developed an idea, done some due diligence, formulated a business plan, and even raised some capital, an MBA can probably wait. If you have the idea, but still need to assemble a team and make contacts, your MBA program may provide the springboard you need. If your business really takes off, you can always take a leave or even quit.