How to Get a Free MBA
By leadership author and keynote speaker Ross Shafer
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I want to talk to you today about how you can get the equivalent of an MBA What I mean by that is you can get a NO COST business education just by watching television. Here’s how: Flip around your channels and see if you get any these business related TV shows. The Apprentice, Shark Tank, The Profit, Billion Dollar Buyer, Bar Rescue, Undercover Boss, Flip or Flop, or the West Texas Investors Club. Even if you only get 3 or 4 you’re ready to go to school. But why are there so many TV shows that focus on starting new businesses OR fixing broken ones? It’s because of the American Dream.
Millions of people have a fascination with achieving financial independence by owning their own company. And, the audience is growing. In 1982, the small business administration said there were 15 million small businesses. Today, the SBA says there are 28 million small businesses operating in America. These small businesses account for almost half of the total economy. And it’s easier than ever before to go into business. Thanks to the Internet, you can start a new company in your garage and sell your products and services all over the world. If you don’t want to risk everything on your own idea, you can buy your way into an established business. There are more than 600,000 franchise opportunities that provide about 8 million jobs. But beware. Even though it’s easy to start a new business, it’s not easy to make a full time living doing it.
INC Magazine says 96% of new businesses fail within the first 10 years. Do you know why? Because most new business owners don’t have any experience running an actual company. I know this because I’m frequently asked to give speeches to new entrepreneurs and consult with startups. I write books about such things and that’s why I say your least expensive and most valuable “education” is to watch business TV shows. Now, if you have work when these shows come on, just record them and schedule your classes anytime you want. The only warning I have for you is to pay close attention to your video professors. They are among the top-tier business elite. You can’t host a business success show unless you’ve had some yourself. These experts help you avoid the pitfalls that cause most businesses to go down in flames or is “up in smoke? (Actually, I think both metaphor work). Either way there’s a good chance you will fail unless you know how to generate revenue and control your costs. That’s why I call business TV shows like getting an MBA.
I know a few hundred MBAs and these TV shows will teach you everything you need to know. You’ll learn how to put a price on your level of quality; regardless if you sell a good, better, or best level product. You’ll get tips on how much profit margin you should expect to earn on your retail price. You’ll learn how to market your goods and services through social media. You’ll see how to manage difficult people; even the relatives you went into business with. You’ll discover how to tweak your manufacturing processes so that you’re able to stay in business. And when you’re ready to sell all or part of your business, you’ll learn how much your company is worth. So, whether you are an entrepreneur or the leader of a business unit at your company, think of these TV shows as a business consultant you never have to pay for.
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