Please advice, Do I need a PhD in business if my goal is to be a businessman? Is it going to add value for my life?

No, I don't think you need it. If you feel you don't have enough knowledge about business and management, take some evening courses, or get MBA (Master's in Business Administration). That is more than enough for real business world. PhD in business is for those who wants to be a professor, and teach and do a research (lots of it).

all you need to start a business is to develop good enterpreneurship skills. you can develop this thro business courses, but they are best developed practically & apparently the only relevant business doctorate is the DBA- Doctor of business adminstration. it's more hands on than normal phds.

No PhD needed for business. You will be wasting your precious time. You can spend the same time in establishing your business. Most rich men dont have a first degree.

degrees are important. how many rich men are there in this world. be realistic & play it as safe as you can.

Degrees are not important apart from satisfying your "intellectual ego".
More than 99% rich men dont even have a Masters.
Working smart is different from working hard.

mm, am not disagreeing with you on the fact that people without degrees can make it in business. all am saying Fady is, educate yourself as much as you can. my granddad was a tycoon, his business empire started diminishing towards the end of his lifetime coz i would say of lack of management skills. we can all make money. whether we can manage it well is a totally different question.

if you just want to be a shopkeeper, you don't need a DBA. If you're looking to being at the top of ur game and having a large business empire, a DBA will take you half there.

...half way there, i meant.

sweetchic, you live far from the real world. I have worked for some of the largest corporations and none of the bosses had a DBA. Can you name any bosses with a PhD or DBA?

Moreover, most HR Managers are looking for people with relevent practical experience in the field rather than lots of theoretical knowledge. It seems that you never looked for any job besides tutoring at the uni.

I have to agree with MM. PhD and DBA have nothing to do with big business. MBA is the highest degree that the top managers have (but not always they have even it).

mm - you have a really bad attitude and your comments arent helpful to anyone. Why dont you take your sarcastic comments somewhere else?

mm, you're the most pessimistic and insecure person on this site. if life has been rough on you, don't think the rest of us are destined to be loosers like you. the way you think says a lot about you- you are intimidated by people who aim high. anyone following your advice is gonna go down the drain.

Alex- nowadays managers in Europe and North America have DBAs. why don't you do further research rather than commenting on info based on one part of the world.