Create Your Own MBA Program
Many small business owners are typically self-taught in the ways that make them successful. Most small business owners do not have an MBA, which actually is a good thing. Formal business education, specifically the typical MBA program, is geared more toward the large corporate environment and not the small business environment that agency owners operate in.
So, how would one design a two-year MBA program for the small business agency owner? The program is based on a trimester system and the students are required to read a book a month for two years. There will be six areas of study, with a bonus session to allow a concentration for the insurance industry. By the end of these two years, students will have the right information to operate a small business and be successful.
The key purpose of this program is to accelerate through the learning curve. Much of the information the students will learn has been around for a while and it works. Successful business owners do not re-invent the wheel. They take a proven idea and adapt it. This cuts out the time and expense of having to learn it on their own.
1. The first trimester focuses on understanding one self and others. What skills and knowledge are needed to be successful? All of these books are classics and three of them have been around for over 75 years. In order to be a great business owner, one needs to understand themself, as well as understand how best to relate to other people.
· 7 Habits of Highly Successful People by Steve Covey
· How to Win Friends and Influence People by Dale Carnegie
· Think and Grow Rich by Napoleon Hill
· The Richest Man In Babylon by George S. Classen
2. The second trimester is an introduction to business and the philosophy of business. Most small business owners got into their business because they were good at what they did. Michael Gerber created the mantra of "Work on the business and not in the business," so his book is a must read. The other books will round out one's understanding of what it means to be an entrepreneur and small business owner.
· The E-Myth Revisited by Michael Gerber
· Scaling Up: How a Few Companies Make It... and Why the Rest Don't by Verne Harnish
· Rework by Jason Fried
· The Personal MBA: Master the Art of businesss By Josh Kaufman
3. Sales and marketing is covered in the third trimester. The books in this session will go from the big picture of sales and marketing to the nitty-gritty details of how to do it. Sales people will like the books by Schley and Holmes and the marketing folks will hone in on the books by Heath and Gladwell.
· Made to Stick: Why Some Ideas Survive and Others Don't by Chip Heath and Dan Heath
· The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell
· The Micro-Script Rules: It's not what people hear. It's what they repeat... by Bill Schley
· The Ultimate Sales Machine by Chet Holmes
4. Welcome to year two! The fourth trimester is all about management and leadership. Satisfied employees are critical to the success of a business. Some people are natural leaders while others can be great leaders with some training. The material and ideas in these books are practical and easy to learn.
· The One Minute Manager by Ken Blanchard and Spenser Johnson
· The Dilbert Principle by Scott Adams
· The 21 Irrefutable Laws of Leadership by John C. Maxwell
· Drive by Daniel Pink
5. The fifth trimester focuses on an area that business owners easily get or perpetually struggle with - economics and business financials. Even if it is a turn off for some small business owners, it is still important that the basics are understood. Accounting is a subject that does not translate well to books, so that subject will be covered using online videos. There are many free videos that will cover both the basics and the details of accounting.
· Basic Economics: A Common Sense Guide to the Economy and Economic Facts and Fallacies by Thomas Sowell
· Financial Intelligence A Manager's Guide to Knowing What the Numbers Really Mean by Karen Berman and Joe Knight
· Various online videos on accounting
6. Now that the business is running, what is next? A successful business is not static; it undergoes constant change and improvement. The sixth trimester introduces philosophy of change and techniques on how to re-think the business operations.
· Built to Last by Jim Collins and Jerry Porras
· Who Moved My Cheese by Spenser Johnson
· What Got You Here Won't Get You There by Marshall Goldsmith
· First, Break All the Rules by Marcus Buckingham and Curt W. Coffman
Congratulations! Reading these 23 books will provide information more valuable to the small business owner than taught in most MBA programs! Graduates of this program now have the skills and knowledge to be even better business owners. Some graduates might want to continue on to a concentration within their industry.
Formal education can be valuable. However, the stereotypical small business owner has neither the time nor patience to attend an MBA program. There is so much good information that all business owners can easily have a customized "MBA Program." So, crack open a book, turn on a kindle or plug in some ear buds, school is in session!
Bill Schoeffler is a business consultant and coach with 20 years of experience working with small business owners and individuals. Bill's unique background includes engineering, financial analysis, and inter-personal skills.
He can be reached at (707) 324-5531 or bill@chrysalis-financial.com. You can find out more at http://www.chrysalis-financial.com
