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How to Get a Do-It-Yourself MBA

How to Get a Do-It-Yourself MBA

    At some point in their lives, a lot of people will ask themselves whether they should get an MBA. The reason for this may be any of the following:

    • They may be working for a small company or a large corporation and they’re looking for ways to become a greater asset for their employer and increase their chances of getting promoted.
    • They have a business idea and they want to strike out on their own, but their lack of business knowledge is holding them back.
    • They have a lot of technical experience and they want to know more about the business aspects of their work.

    If you’re in any of these situations, you should be aware that going the traditional MBA route is not your only option. According to Josh Kaufman, owner of the blog, “The Personal MBA”, and author of the bestselling book of the same name, you can get a do-it-yourself MBA. Josh explains in The Personal MBA Manifesto that the process consists of the following:

    • Read the best business books out there.
    • Learn as much as you can from these books.
    • Discuss what you learn with others.
    • Go out into the real world and make great things happen.

    There’s much more on getting a do-it-yourself MBA below.

    Weighing the Pros and Cons of Getting An MBA

    Should you start looking into the GMAT and send away for business school brochures? Or should you embark on a self-study course of action? The first step in deciding whether or not to get an MBA is to brainstorm a list of pros, as well as a list of cons.

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    Here are some of the things in favor of getting an MBA:

    • An MBA from a good business school is a status symbol.
    • If you’re in a top 15 MBA program you’ll have access to recruiters from Fortune 50 companies, consulting firms, and investment banks.
    • In this competitive market place, having an MBA could differentiate you from other candidates who don’t have one.
    • In an MBA program you get to network with the potential future leaders of the business world.
    • Many argue that the real value of an MBA is the discussion in the classroom: that is, learning from your classmates.
    • If you’re in an MBA program you’ll have access to the school’s alumni association, which can mean job leads and other business opportunities.
    • Some people consider that, today, not having an advanced degree is the equivalent of what not having a college degree was a decade ago.

    Some of the reasons not to get an MBA are the following:

    • MBAs are very expensive–upwards of $80,000 in tuition–and a lot of people pay for an MBA with debt. This means that it will take you several years just to break even.
    • You’re taking two years off from work. This means you won’t be earning a salary, and you may be missing out on valuable work experience.
    • While you’re paying back your tuition debt you’re basically an indentured servant: you can’t leave your job, even if you hate it and the hours are ridiculous, because you have loans to pay.
    • Although having an MBA may give you a leg up in the job market, it doesn’t guarantee that you’ll get a high-paying job.
    • There’s the opportunity cost of all the other things you could have been doing with your time instead of sitting in a classroom gorging on case studies and listening to lectures.
    • A lot of the things that you learn in an MBA program are outdated.
    • While one of the best ways to learn is by doing, an MBA program is mostly just learning theory.

    It’s up to each individual to weigh the pros and cons for themselves and apply the results to their own situation. But, in general, if all you want is to learn the stuff that you’ll need in order to do well in business, you’ll probably be better off by getting a library card and embarking on a self-study program.

    How to Get a Do-It-Yourself MBA

    If you decide to get a do-it-yourself MBA, or at least look further into the possibility, you should do the following:

    1. Read Kaufman’s book, “The Personal MBA”, in order to master the fundamental principles of sound business practice. Kaufman calls these principles, mental models, and he lays out 226 of these mental models in his book. With “The Personal MBA” you’re going to acquire a solid core of principles to work from, and then, later, you’re going to refer to other books in order to build upon that knowledge.

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    “The Personal MBA” covers the following three areas:

    • How Businesses Work: You’ll learn about the five business processes which are at the core of any business. These are value creation, marketing, sales, value delivery, and finance.
    • How People Work: A business is created by people to service people. It’s therefore important to understand how people make decisions and communicate with others.
    • How Systems Work: Businesses are complex systems with many moving parts, and you should understand how complex systems work.

    This book won’t give you all the answers. What it will do is give you the knowledge that you need in order to ask the right questions. Then, by asking the right questions, you can gather more information.

    2. If there’s a particular topic that you want to know more about, refer to the books that Kaufman recommends in “The Personal MBA”, as well as the recommended reading list which is posted on his blog (The 99 Best Business Books). Choose 2 or 3 of these books in order to learn more about the particular area or skill that you’re interested in.

    3. Look through the speed reading books and courses that are available (I recommend PhotoReading), and choose one that appeals to you. Obviously, this is so that you can get through the material quickly. Also, get the classic “How to Read a Book” by Mortimer J. Adler, which will show you how to read analytically and syntopically.

    4. Create a mind map and/or summary of everything that you read as part of your personal MBA program. Make sure that you include your own opinions, interpretations, and conclusions in your summary. Come up with a plan of action based on what you’ve read.

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    5. Discuss your conclusions with others.

    6. Apply your newly acquired knowledge in the real world. Anything that you do will have an effect; that is, it will generate feedback. By acting you’ll either have more information on what works, or you’ll have more information on what doesn’t work.

    7. Once you’ve acted and received feedback, you need to analyze the results that you got. Ask yourself questions such as the following:

    • What worked?
    • What didn’t work?
    • What could be improved?
    • What needs to be done differently?

    8. Based on your analysis of the feedback, decide how you need to modify your approach.

    9. Act once again.

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    10. Keep going through this cycle–plan, act, analyze the feedback, and modify your approach–until you’ve reached the desired outcome, or until you’re happy with the results.

    11. Then, move on to the next topic that interests you, and do the same thing all over again.

    Conclusion

    Kaufman uses quotes throughout his book to help illustrate the different points that he makes. One of the quotes he uses is the following by Jack Welch, the former Chairman and CEO of General Electric: “People always overestimate how complex business is. This isn’t rocket science–we’ve chosen one of the world’s most simple professions.”

    A lot of people who have never been to business school are intimidated by business. However, as Welch points out, business is not rocket science. Go ahead and give it a shot: embark on the journey toward getting your own personal MBA.

    (The Personal MBA is courtesy of Bego).

     

    More by this author

    Marelisa Fabrega

    Marelisa is a lawyer and entrepreneur who blogs about creativity, productivity, and getting the most out of life.

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    Last Updated on February 11, 2021

    20 Unusual Uses for Coca-Cola That You’ve Never Considered

    20 Unusual Uses for Coca-Cola That You’ve Never Considered

    Coca-Cola is an adored product the world over. While keeping yourself in good health means moderating how often you enjoy this drink, Coca-Cola lovers will be happy to hear that there are plenty of uses for the soda pop that don’t involve ingesting it. Impressively, Coca-Cola can be used to help you clean, get rid of rust, and even help maintain your garden. Whether you are looking for a way to finally get rid of those pesky stains, or just want to find new ways to love this drink, these 20 jaw-dropping and unusual uses for Coca-Cola will blow you away.

    Kill pests in your garden

    Coca-Cola is also an effective pest control method for your garden. To rid yourself of plant munching slugs and snails, pour a small bowl of Coca-Cola and place it near your garden or flowerbeds. The smell will attract these crawling bugs and the drink’s acidity will kill them.

    Defrost your windshield

    Incredibly, Coca-Cola can also defrost your windscreen in the wintertime. Simply pour Coke liberally across your windshield and wait about a minute. The ice should turn to slush for easy removal.

    Clean your pans

    Coca-Cola is also useful in the kitchen, especially on burnt pans. For any pan with burnt on messes, pour a can of Coke into the pan and simmer. The mess should easily wipe away. You can also soak kettles and other kitchen items in Coca-Cola to remove scale and build up.

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    Clean bugs from your windshield

    Another way Coca-Cola can aid in your car care is by removing bugs and gunk from your windshield. Soak a cloth in coke, then rub across your windshield. Just be careful not to get any on your paint job.

    Remove rust from your car

    Coca-Cola is also useful when removing rust. The simplest method is to dip crumpled tinfoil in Coca-Cola, then give the item a scrub and you should be rust free.

    Loosen rusty bolts

    Similarly, use Coca-Cola to loosen up a rusty bolt. Simply unscrew the bolt half a turn and pour on Coca-Cola. Let it sit, then give the metal a wipe. The bolt and screws will be one hundred percent in no time.

    Remove stains from your fabric

    Surprisingly, Coca-Cola is incredibly helpful when removing stains from clothing and fabric. Coke will easily remove grease stains, as well as blood spots. Remember that Coca-Cola itself is brown, so stains on light fabrics might be better removed another way.

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    Remove oil spots

    Another way to use Coca-Cola is to remove oil stains from cement. Whether it’s your garage or your driveway, soak the stain in Coca-Cola for a few hours then hose off.

    Relieve jellyfish stings

    Should you be unwilling to neutralize a jellyfish sting the traditional way (with urine) pouring Coca-Cola on the sting will also do the job.

    Clean your car engine

    Coca-Cola is also an effective ways to clean your car engine. Believe it or not, Coke distributors have reportedly been a fan of this technique for ages. 

    Use it in cooking

    Coca-Cola is also a fantastic addition to many recipes. Using Coca-Cola to cook pot roast or steaks in will easily tenderize the meat for you. Mixing Coke with ketchup or barbecue sauce also makes for a delightfully sweet glaze.

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    Clean your old coins

    Another way to use Coke to clean is to soak tarnished coins in the soda. About ten minutes should be enough to get rid of the muck.

    Clean your tiles

    Incredibly, Coca-Cola can also be applied to tiles to effectively clean grout. Let Coke sit on the tiles that need cleaning for a few minutes, then wipe away.

    Supercharge your compost

    Coke is also an impressive way to speed up your compost. The sugar in Coca-Cola feeds micro organisms, plus the acidity will help your compost break down faster.

    Remove gum from your hair

    Coca-Cola can also help you avoid a major hair disaster. If you have gum stuck in your hair, dip the gum into a small bowl of Coke and let it sit for a few minutes. The Coca-Cola breaks down the gum, allowing you to wipe it off.

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    Fade unwanted hair dye

    Similarly, if you made a mistake with your hair dye, Coca-Cola comes to the rescue. It’s probably best to get in the shower first, then pour Diet Coke over your hair. Let the soda sit for a few minutes, then wash your hair like normal. This method is effective in removing temporary hair dyes, but will likely only fade professionally applied dyes.

    Clean marker stains

    Coca-Cola is also an easy way to remove marker stains from carpet. Apply a small amount of Coke, scrub the spot, then clean with soapy water. Again, remember that Coca-Cola is brown, so removing stains on white or light-colored carpets might be better achieved with another method.

    Clean your toilet

    Coca-Cola can also help you clean elsewhere in the house. To easily clean a toilet, pour Coca-Cola all around the bowl and let it sit. There’s no need to scrub, simply flush and your toilet should be sparkling clean.

    Feed your plants

    Coca-Cola is also a surprising way to add a little extra life to some flowering plants. Particularly with azaleas and gardenias, adding a small amount of Coca-Cola to the soil can deliver nutrients your plant may be low on.

    Get rid of bugs at a picnic

    The last of our unusual uses for Coca-Cola is to safeguard your picnic or outdoor lunch from pests and wasps. Simply pour a small cup of Coca-Cola and set it out about a half hour before you start to eat. By placing the cup away from your site, bugs will be drawn to the soda and not your lunch.

    Featured photo credit: Omer Wazir via flickr.com

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