Business 101: it’s complicated!
Many of you reading this probably already have an MBA, or have been exposed to someone who has one.
MBAs are wonderful to have, but one of their limitations is the “Jack-of-all-trades-master-of-none” syndrome that they produce. Don’t get us wrong – we salute people who invested the massive amount of time and money in themselves – but we also know lots of people who didn’t do an MBA and were still successful – possibly because they had lots of help.
Our point is this: an MBA will teach you a bit about marketing, finance, business management and operations. But often it’s not enough – the general knowledge can get you started, but when you are faced with a complex problem that requires a much more in-depth knowledge of a situation, you might find yourself stuck. So let’s say that even though you studied marketing in the MBA programme, but suddenly you find yourself in the throes of a complex business, with lots of competition, stiff business headwinds and loads of disruptive innovation, how do you create sustainable competitive advantage for your brand? What does that even mean?
Fear not! Rule Number 1 is always follow your nose, and your heart. Begin with what you know. Rule 2 would be to ask yourself a quality question so that your brain starts to scan its horizons for solutions.
Finally, Rule 3 is, do what you love. Your years of experience (either past or future), and your love of what you do, will ultimately see you through. Any business is rough. Man (or woman) up, pick yourself up after a cuppa, and just keep going…