The Personal MBA Book Summary - The Personal MBA Book explained in key points
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The Personal MBA summary

Josh Kaufman

Master the Art of Business

3.9 (149 ratings)
19 mins
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    The Personal MBA
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    Business school: Not only is it extremely expensive – chances are, it won’t pay off.

    Want to go into business, but have no idea where to start? Business school seems like a tempting prospect, a place where all the knowledge and contacts you need are simply handed to you – but is it really your ticket to success?

    It has to be, right? Otherwise why else would people pay so much for their MBA? Business school is expensive, that’s for sure – the top 15 MBA programs charge up to $53,208 per year for tuition. That’s not even including fees, loan interest or living expenses!

    What if we factor those into the equation, plus the opportunity cost of lost wages too? Turns out there are eight different US business schools where the cost of an MBA exceeds $300,000.

    “Wait,” you might think, “surely not all business schools are that pricey!” True, however, any student who holds an MBA has an average debt of $41,687 (again, without accounting for additional expenses).

    OK, so business school costs a lot. Is this what the educational experience is worth? Short answer: nope.

    In the long term, an MBA does nothing for your career. If it did, a master of business administration degree should correlate with measures of success, like an increased salary, or promotions to higher level positions. And it doesn’t.

    Researchers from Stanford University and the University of Washington conducted an extensive study into the matter. Analyzing 40 years’ worth of data, they found that there is no correlation between long-term career success and possessing an MBA, whether you graduated with flying colors or just scraped a passing grade.

    So if business school can’t make your entrepreneurial career blossom, what can? Well, you can learn a lot from experience, and from your own research online – or from books like this one.

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    What is The Personal MBA about?

    The Personal MBA contains everything you need to know in business. Today, true business leaders are forged through their own experience and personal research, not in universities. From developing your idea to sealing a deal, these blinks guide you through the entire process of becoming a self-made business success story.

    Best quote from The Personal MBA

    Business school is a big risk...the only certainty is that you will shell out about $125,000. – Wharton School of Business graduate.

    —Josh Kaufman
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    Who should read The Personal MBA?

    • Anyone starting their own business
    • Anyone interested in how businesses function
    • Anyone running a business and seeking a refresher on the basics

    About the Author

    Josh Kaufman is an independent business adviser and the author of two international bestsellers: The Personal MBA and The First 20 Hours: How to Learn Anything, Fast. His website was listed as one of Forbes’ Top 100 Websites For Entrepreneurs.

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