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Follow on TwitterSeveral years ago I met up with a successful entrepreneur in London to discuss a business idea, the idea was a “business in a box” – everything you’d need to start your own business in one go. Unfortunately I let that opportunity slip through my fingers because I didn’t feel in a position to really follow through at the time.
Having just read Scott Shane’s new book “Illusions of Entrepreneurship” in which he demonstrates that the more education you have the higher the odds of you being a successful entrepreneur, it seems to me that there’s scope to expand the “in a box” idea into business education.
In short, wouldn’t it be cool if we could place the knowledge you gain from business school in a box and sell it. Well you could argue that that’s exactly what The Personal MBA does. The trouble is that excellent as it is, when all is said and done it’s just a reading list and unfortunately few people today read.
In fact according to a recent survey reported in the Washington Post one in four Americans read no books last year and as a nation they read on average just four books each, excluding those that didn’t read at all the average was only seven books. Less that 5% read a single book that wasn’t a novel, history, biographies or religious work, which doesn’t leave many reading business books!
From my own experience we’re no better in the UK, most of us don’t read much if at all and I’m normally greeted with a puzzled look when I suggest to most business owners that they ought to read at least one business book a month and utter surprise when I tell them that I read between four and eight business books per month.
So how would the “Business School In A Box” be different?
Well I’d structure it as a more interactive experience providing a mix of tutorials, video lectures, podcasts, interactive quizzes and making use of online forums to create study groups. I’d design each lecture to last no more than 30 minutes with a number being around 10 minutes so they can be watched or listened to in dead time – when you’re on the train, stuck in an airport or out running with your mp3 player.
I’d also include more interviews with successful entrepreneurs, using their experience to demonstrate the application of the learning in a real business environment.
So what do you think, would you buy the business school in a box, or The Personal MBA or are you quite happy just getting on with it?
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This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
John, The Business School in a box is a great idea. You probably need two versions: an undergraduate course and a graduate course.
Undergrad for those just starting out. Those beginner entrepreneurs may be intelligent, but they have no idea about some of the obstacles and important decisions they are about to make.
The grad course would be for those who have already started a business. They are struggling along trying to make it and worried about survival.
Go for it!
Jay,
I like that idea, that would really add value and make it more accessible to more people.
Good idea… But somehow, business is not 100% learned, those personal discussion with others, and the experience of making friends, knowing people will be ignored in that idea. But after all, the idea is quite innovative!
John
I have been thinking similar thoughts in terms of putting together a recommended “do it yourself” business coaching program with my favourite resources and pulling in material from the world’s leading gurus.
But is it learning for the sake of learning or learning to be applied to the business?
There are already coaching programs that are low cost that can cover many areas. For example see Scott Hallman Small Business Growth Club for a taster.
Do people who take MBAs do it for the learning or the qualification? I think I was the exception because in my experience most people see the qualification as the gateway to more success and money.
Many people have a reluctance to keep learning. That is why continued professional development is mandatory for doctors, lawyers, accountants…
The three big benefits I received from my MBA were:
1 – it forced me to read about topics and areas in that I wasn’t really interested in. My tendency was to follow my interests and to read people with similar views to me. The MBA made me explore other areas and consider/understand other points of view.
2 – the compulsory work assignments and exams made it a very different experience from just reading a book and taking a few notes. There were deadlines and commitments and focus on the results. But that focus was on how well I could demonstrate my understanding academically, rather than applying the learning to my business.
3 – the dissertation (into how business advisers could help small businesses in financial difficulty) really forced me to go deep onto one area that crossed the disciplines. The research project was a challenge but the results were very interesting.
@Karl,
I agree, which is why I included study groups and online forums to encourage discussion and group learning.
I was also assuming that any customer for this course would be running, or in the process of starting their own business.
@Paul,
I see it being applied knowledge.
With regards to the MBA, I think that (unfortunately) you are right, it’s more often than not done for the qualification than the learning.
“Many people have a reluctance to keep learning”
I wonder why, perhaps another failing of our educational system?
UPDATE: I did a quick Google and this essay looks interesting, I’m going to have to do some more research: http://dept-info.labri.fr/~strandh/Essays/psychology.html
Regards, John
John, Seth Godin addressed this in his Small is the New Big. He thinks MBAs are pretty useless. Having known and worked with a number of MBA graduates (who couldn’t figure out which way to open the door, let alone close a business deal) I have to say MBA in a box might be tempting to some, but few would complete it and actually learn something.
I agree with Seth – who says experience is the best teacher. On the other hand, a series of short book on getting an MBA, could work. People do read – short, concise books (short enough for a plane trip). So, books are still useful. Give that a thought.
Cheers!
Yvonne,
Interesting – that books on my shelf waiting to be read (too many others to review first) – as I believe Seth Godin has an MBA (with specialism in marketing). I suspect he’d still be excellent without the MBA but it’s probably added to his credibility when looking to get his ideas published.
I agree about the short concise works, which is why I propose short podcasts and why I like Seth’s book The Dip, short, accessible and to the point.
Hi John
Depressing stats about the reading level in the US but based on my experience – I would say that is probably true. I’m like you, the voracious reader, so anything that promised more education, especially self-paced would appeal to my demographic. Keeping it multi-media and as short and hands-on as possible should increase the appeal to the reading-averse.
In addition to the undergrad and grad courses, I could also see the appeal of differentiating whether someone was interested in a retail or service business. There would be some overlap but also some tailoring – and people like that personalized approach.
Good Luck.
Liz
John, Seth admits he has an MBA, and says it was a useless waste of his time. It did nothing to help him achieve what he’s achieved today. He says it much better in his book.
I know stats say people aren’t reading…but, I am a publisher and… people are reading our books. So, as any good accountant will tell you – numbers exist to be manipulated.
You have such good content in this blog, it can serve as a book – if you choose to make it so.
With a willing subscription list already, blog to book is a win-win. And, as Liz says, that personalized touch makes all the difference.
Cheers!
Yvonne,
I’m afraid I don’t believe it didn’t help him. It will make him more credible with the people he’s dealt with.
My main point however was that the MBA should have given him knowledge and skills that may not otherwise have had. Which he probably now can’t imagine being without.
I don’t doubt people aren’t reading your books and yes statistics can say anything you want, but I also have contacts at most of the big publishers and I know how few books they sell relative to the size of the markets into which they sell and their numbers seem to back up the numbers that read.
Regards, John
John, guess I can only say read the book. He explains why much better than I could. (and he does imagine being without his MBA… you really must read the book – he is quite serious about the whole MBA thing and its inability to actually teach anyone anything.)
I, too, have contacts at the BIG publishers – and I don’t trust’em any more than I trust the accountants who like to manipulate numbers.
I trust the real people I know – and they ALL read, to this day. In fact, most of my family members are all big readers. The women I talk to are eager to read.
The world reads. Folks may be more selective in what they read, but they haven’t stopped reading. Big publishers should only start listening to customers and start producing books worth reading. IMHO
Yvonne,
OK I’ve got the book here and I’ve read pages 70-75 “Don’t go to business school” is that the bit you meant or was there another section?
If it’s just that section then I’m afraid I disagree, he doesn’t truly examine how he’d have been treated differently without the MBA or how his expertise might have developed differently without it and in at least one blog post he’s talked about the network of contacts he made there.
I can’t think why my contacts at the publishers would lie to me, after all they were trying to persuade me to write a book – “go on write a book, no one will read it and you’ll make nothing from it” is hardly a great way to motivate a potential author.
I don’t trust the people I know to represent the population as a whole. Most people I know are smart, many are very smart but they are not representative of the wider population.
Of the related books I was discussing with the publishers they are worth reading and are some of the best ever published in their field.
John, I am enjoying this. You and I must agree to disagree, I guess. Seth spoke here last year and he was openly un-enthusiastic about anyone going to school for an MBA. The section in his book you mention is, indeed, what I was referring to. And what he talked about, during his presentation here. How much he benefitted, or how much anyone benefits, from business school, is relative only to that person – not to you and I. Seems to me…yes, I can cite a number of greats who dropped out as under-grads, and went on to become what they chose to become.
I appreciate that a publisher was courting you to write a book – but, your phrase hits the mark. They were willing to gamble on you – as they do on most authors. If YOU did not sell many, many copies of your book, by virtue of your contacts and speaking engagements, they would be on to the next new author. As has happened to a number of good people I know. (one was asked to BUY her own book by the thousands). You don’t have to believe me…read up on the facts and stats about traditional publishing. Marilyn Ross has a lot of great facts on her site.
Meanwhile, I believe the hundreds of women (and men) I know, via my blog connections and my interaction on the net, are very relevant of the wider population. These are professionals, stay at home Moms, dads who work from home, executives, and more. I have not yet found one that is not a reader.
Lastly, by whose determination are the books you were discussing “the best ever published in their field?”
Yvonne,
I’m enjoying it too, so in reverse order…
The books in question were IT related and are widely recognised as the best in the field. Typically the authors were the people that invented the technology involved.
As it happens I’ve already written and published a book, but in order to have full control and to maximise my return I self published.
“These are professionals” – I think you’ve proved my point they are not representative of the population as a whole, sure there’s a lot of them, probably tens of millions of them, but they are still only a small percentage of the population of the USA.
“how much anyone benefits, from business school, is relative only to that person” Exactly, we can agree on that. I happen to believe that an MBA does benefit many people.
However I would not personally spend my money on a top tier business school, I don’t believe they add enough value – on that point I agree with what he says. Again however only a small percentage of MBAs go to the top tier schools, most go to lower tier schools and use the MBA to aid their career or entrepreneurial goals.
John, you crafty devil, you! Self-published! You have risen higher in my esteem (you were already high, by virtue of this discussion and your writing on this blog).
I think we agree on much, and can disagree on some. Makes for good conversation. You are a challenging adversary. I like folks that keep me thinking.
Here’s another blog you might enjoy (he’s one of our authors – a thought leader – someone who pushes buttons as much as possible) http://leethayer.typepad.com
I plan to send him your link, too. Now, tell me about your book. Is it here on the blog and I’ve missed it?
Yvonne, thanks, likewise. You’ve given me quite a bit of inspiration for future post or two on the MBA, thanks for that too.
Lee’s blog does look good, I’ve subscribed to his feed and I look forward to reading it regularly.
My book is no longer available, it was about getting a business online as was intended to help customer and potential of my previous business (a web development business) and sold at events that we attended.
Some day soon I intend to write another, more in line with the topic which I blog about here. Although after the interest this idea has had perhaps I should be writing short books to provide a business school in a box course!
John and Yvonne,
Thanks – that was a very interesting dialogue to watch unfold. You both have a lot of passion and a lot of good points.
I like your final proposal John – short books that each capture a subject in a focused and engaging way that can be combined and collected to form an “MBA in a box”.
There is an appeal to short books that can be read on a plane or train commute for a price and time commitment comparable to a paperback novel. There is also almost a compelling need to collect, and having a series of books will motivate people to collect them all. It also enables you to be flexible in packaging them – by topic, by level, by type of business.
And of course there is the fact that it is theoretically easier and quicker to write shorter, smaller books that can be brought to the public, assessed for feedback, and then applied it to the subsequent books. (similar to the “scum” method of software development!)
Good Luck with your endeavor, John!
And Yvonne, thanks for the insight into the perspective from the publishing world. It is quite encouraging to hear that you believe the majority of people still read!
In Belgium/Holland, a Dutch guy Ben Tiggelaar has summarised “8 metres of books” into a “MBA in one day” seminar. He summarises ideas from Michael Porter, Stephen Covey, Philip Kotler, Michael Hammer, Peter Drucker, Kaplan & Norton, Robert Quinn, Eliyahu Goldratt, Tom Peters and Henry Mintzberg. He also has a (unfortunately for some
in Dutch) box set of 10 CDs.
Liz,
It’s an interesting idea, when I’ve got a little more time later this year I might look at pursuing it.
Tom,
That sounds good, I know a few of the business schools in the UK do similar courses aimed at entrepreneurs and SME owners.
What an interesting debate.
On the Seth point it is impossible to unwind – you can’t not know what you know.
I think that people who rush into MBAs in the mid 20s after a short working period won;t get much out of it. They haven’t had the management experience to relate to it.
But for people with years of senior management experience, I found myself looking back and wishing “I only I’d known that when…”
Paul,
“it is impossible to unwind – you can’t not know what you know” nicely put. As far as Seth’s opinion I have a lot to say on that, but that’s the topic of a future blog post.
I agree with you on the need for experience to relate it to. One problem with the debate is that most people focus on the top business schools and the ROI of attending them.
The reality is that most people spend far less and go to business school for a far more mundane reason.
Hi I’ve just come accross your blog today so I might be a bit late to comment on this.
Robert Kiyosaki’s cashflow 101 is pretty much what you are describing. While it is a board game it is a fast forward through so many essential business skills that he himself spent years educating people on before Rich Dad fame. I’m sure you would have read at least a couple of the books. It’s a bit cliche going on about him because he is so well read but there is a very good reason for that.
Incidentally he is also opposed to the MBA!
Niquardo,
I’m not sure I’d agree that Cashflow 101 fits the bill. Yes it’s good (although I prefer Cashflow 102) but in my mind it’s much more aimed at teaching people to manage their personal finance rather than a business.
While I like those of his books that I’ve read, I can’t say I’d consider them to be business books.
Yeah that’s a fair comment actually. I got lost in the detail of the comments and kind of forgot what the original post was about.
Personally I love his books. As an accountant I can relate to a lot of the ideas around traditional education preparing you to be an employee. And the more traditional education you get the more prepared you are to be an employee, or self employed, as opposed to a true business owner.
Pretty much all the people I have worked with are ACCA, CIMA, and/or MBA qualified and as good as they all are at making sure contingent liabilities are disclosed properly most of them couldn’t run a fish n’ chip shop. I don’t even know if I could!!!!
I agree, our education system places far too much emphasis on producing employees.
I’m not sure we can blame ACCA or CIMA for not giving people business skills though. They are not really designed for that. Although anyone going through CIMA in particular ought to have a better understanding of some of the financial issues around owning and managing a business.
With respect to the MBA it’s an academic qualification, not a vocational one, something that far to many people fail to recognise.
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