This time last year I considered attending business school and working towards an MBA. Ultimately, I decided to pass. Why? Well, beyond the “fate” factor mentioned in a previous post, I still rationalized my way through the decision.
1. I prefer self-education.
The famous biochemistry professor and science fiction writer, Issac Asimov once said, “Self-education is, I firmly believe, the only kind of education there is.”
I believe school is important. I have a bachelor’s and master’s. The experience of going through established programs has been vital to my growth and professional credibility.
Thing is I don’t like institutionalized learning. Perhaps it’s because I didn’t like tests, math, or jumping through hoops that some committee created. But more than that, it’s because of my learning methods. I learn best through deconstruction: I take something apart, then build it back up in a way that helps me understand the basics to see how each piece fits. This is also the reason I own tons of those yellow “For Dummies” books.
School doesn’t always work this way. Classroom teaching methods are often too rigid. I’m sure good business programs foster group learning and use different teaching methods, but I just wasn’t sure I would adapt. At this point in my life I’m too accustomed to the way I learn, and I like being in charge of my own pace of self-development. My advice: think about how you learn, and see if further schooling would be a fit for you.
2. 3 years + $100,000 vs. 1 year + zero overhead.
Projections said I would need three years (while working full-time) and around $100,000 to complete the degree. That would mean I would be around 37 or 38 and in debt when I finished.
People go to business school at much older ages, so it wasn’t as much an issue of age as it was our stage in life. We don’t have kids, so my wife and I still have the opportunity to branch out or relocate to a new city or even country. Business school would have anchored me in one location for a set amount of time. Why anchor myself when my life circumstances don’t warrant it?
Instead, I figured to develop myself for a year, sock away a fraction of what tuition would cost, and see if I could start a profitable business instead. I’ve done this with almost no overhead. Over time my skills, network, and exposure will expand, naturally increasing rates and profitability.
And honestly, I don’t know that I have the patience to commit to anything for 3 years at this point in my life unless it’s something I’m totally in charge of! Maybe I’m too old to learn new tricks.
3. A lot of business experts recommended against it!
To get as clear a view of business school as possible, I consumed a ton of books, blogs, and podcasts. There were a few recurring themes:
- business school is great for students starting soon after undergrad because of the doors it can open
- the primary benefit of business school (assuming you start at a younger age) is the networking that takes place
- people who succeed in business will likely succeed whether they went to business school or not
- 10 years after graduation, not many will really care that you went to business school; it’s your business track record that matters
There’s no way to cover every possible objection or exception to these statements. I’m in no way trying to broadbrush this stuff, either. But it made a lot of sense to me. Here are some books I read:
- The Personal MBA – Josh Kaufman
- Ahead of the Curve: Two Years at Harvard Business School – Philip Broughton
- Reinventing You – Dorie Clark
- Never Eat Alone – Keith Ferrazzi
- The Millionaire Messenger – Brendon Burchard
Truth is, I still want to get an MBA for the education and experience. Perhaps one day I will, it’s just not right for me now. The books above are just some of the resources that have helped me get a business education without going to school. Real life experience has been the greatest teacher of all.
Question: What about you? Do you have an MBA, or decided not to get one? I’d love to hear your thoughts.
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