The Personal MBA

Lesson 1. Introduction. 

Anyone interested in starting a business believes that without an MBA degree, they might not succeed. Josh Kaufman explains how this is irrelevant. A good business is an outcome of your hard work combined with good skills and strategies. You do not require a degree to learn the needs of the customers or to negotiate. 

This book provides various ways by which you can sell your products, be a good leader, a better communicator, understand the drives of the customers, ways to negotiate, and so on.

Lesson 2. Is a B-School worth your money?

The top 15 MBA programs charge up to $53,208 per year and people pay so much for this degree. In the U.S, there are eight business schools where the fees exceed $300,000. Even though all business schools are not this expensive, every MBA student pays a lot. The author claims that it is not worth it. 

Researchers from Stanford University and the University of Washington analyzed 40 years’ worth of data and found that there is no connection between long-term career success and getting an MBA degree. You can learn a lot through various experiences in the field and your research instead of spending so much to join a business school. 

Lesson 3. Dealing with money. 

Money and Passion:

You should give a lot of thought into the kind of business you want to start. Your business will never survive if you do it only for money. Hence, instead of focusing on the most popular business, you need to understand what you like to do. Starting a business requires a lot of hard work and if you are not interested, it will become a failure. 

When you start something you are interested in, you will be ahead on the decision-making processes and will stick to the plans. Having enough knowledge about the field you are entering will help you in making better decisions and facing the competition in the market. 

Leveraging your investments:

Even if you do not have enough money to start a business, you should not give up on your dream. Leveraging your investments can eventually pay off. You can make huge profits even with the small amount you have on your own. 

Imagine you borrow a certain amount of money to invest in your business. With proper decisions and proper planning, you will receive huge profits; in some cases, even 20 times the return on your investment. Leverage can be risky as well. If your business does not succeed it would become an issue. So, keep in mind that leverage