The Fresh Peel is dedicated to peeling back the old ideas and traditions in business, specifically in marketing, and applying new and innovative methods and solutions.
That includes questing the practice that says, “You need an official MBA diploma or Doctorate degree in order to be successful in business”.
They are both great achievements, and a decade ago obtaining your MBA or Doctorate would have been a sure way to set yourself apart from the masses in the business world, but all that has changed.
The truth is, that in the last five years the market has been flooded with opportunities to achieve higher education. Many of these “drive-thru colleges” have left what was once a prestigious achievement, only a little better than a commodity, in some cases.
So here’s the question: Why not just skip that collegiate garble and learn from the greats?
Josh Kaufman has developed a killer program called The Personal MBA, which challenges traditional thinking on issues of higher education. He recently finalized and released the Recommended Reading List for the program.
So instead of taking out $75,000 school loan, why not sign up for a personal one-on-one class with an industry expert, like Peter Drucker, at an average cost of around $20 per course?
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What do you think? Is there still value in the traditional MBA degree?
And how much validity do you think a certification like The Personal MBA holds?
I believe that the reason most people get their MBA is that higher education is a requirement to sit for certain exams. I know from experience, that the only reason I was interested in getting my Master’s was because upper-level courses are required to sit for the CPA exam. I personally do not feel as if I gained a great deal or have much if any advantage over my peers, however, it seemed smarter to get another degree in one year, rather than take an extra two semesters of classes in order to meet the exam requirements. At least now I have a Bachelor’s and a Master’s, rather than a Bachelor’s plus extra classes. Anyways, I wouldn’t go so far to say that traditional master’s programs are completely worthless, but the idea of studying on your own and saving money is quite intriguing.
I just ran across the PMBA site — and could not agree more. I do not have an MBA — but I have read a minimum of 100 business books a year since 1989. At the age of 28 I was named CEO of one of the Rockefeller foundations — I have guest lectured at more than 90 colleges and universities — and serve as an corporate trainer and management consultant to some of the top companies in the world including Microsoft, Merrill lynch, IBM, GE, Pepsi, Verizon… all without an advanced degree. I did the math not too long ago and figured out the I add roughly an additional $500 to my aggregate income every year — for every book I read. Yes – an additional $50,000 because of the ideas, information, creativity and knowledge I can gather from reading good books (as well as listening to books on CD and attending good business seminars). I am not sure an MBA would do the same for me — or at least I can say with confidence that NOT having an MBA has NOT seemed to hold me back in my career at all. By the way — I have posted a blog on my site with some of my very favorite business books — here is a direct link: http://johnspence.com/blog/?p=16 As I am still reading 3-5 books a week, so my list is not completely up-to-date with my very latest books — but this is a good solid list — many of which you will see on the PMBA list (and several other as well!). Also, if you notice that a book you really love is not on my list – please send me a note, I am always looking for new books to read. Thanks – John Spence == http://www.johnspence.com
John,
Thanks for the awesome input.
You are indeed a living example of the power of self education.
May I ask, what inspired you to become an avid reader in 1989?
Yes — it was a fairly common event — I failed out of college the first try at the University of Miami (FL) . After I got kicked out, I applied at the University of Florida — where the woman in the Registrars office literally laughed at me. She told me that I might want to go to UF — BUT = they did NOT want me. Long story made bearable — I eventually got into UF and graduated in the top three in the country in my major — the key — I figured out that the answers were in the books — and that if I would simply read everything — AND surround myself with the brightest people in the class — it was a breeze to get a 4.0. After that I realized it was exactly the same in business — read, study, surround yourself with bright people — it got me to CEO of one of the Rockefeller foundations when I was only 26. That is when I started reading business books — 1989 — and have read at least 100 every year since!
Hope that helps — John Spence
Ah — let me clairify — I was hired at Winthrop Rockefeller’s foundation at age 26 — named CEO at 28. I try to be a stickler for facts and got typing too fast in the last note — forgot to check it before I hit “send.” Sorry – John