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The Personal MBA: Master the Art of Business, by Josh Kaufman
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Getting an MBA is an expensive choice-one almost impossible to justify regardless of the state of the economy. Even the elite schools like Harvard and Wharton offer outdated, assembly-line programs that teach you more about PowerPoint presentations and unnecessary financial models than what it takes to run a real business. You can get better results (and save hundreds of thousands of dollars) by skipping business school altogether.
Josh Kaufman founded PersonalMBA.com as an alternative to the business school boondoggle. His blog has introduced hundreds of thousands of readers to the best business books and most powerful business concepts of all time. Now, he shares the essentials of entrepreneurship, marketing, sales, negotiation, operations, productivity, systems design, and much more, in one comprehensive volume. The Personal MBA distills the most valuable business lessons into simple, memorable mental models that can be applied to real-world challenges.
The Personal MBA explains concepts such as:
- The Iron Law of the Market: Why every business is limited by the size and quality of the market it attempts to serve-and how to find large, hungry markets.
- The 12 Forms of Value: Products and services are only two of the twelve ways you can create value for your customers.
- The Pricing Uncertainty Principle: All prices are malleable. Raising your prices is the best way to dramatically increase profitability - if you know how to support the price you're asking.
- 4 Methods to Increase Revenue: There are only four ways a business can bring in more money. Do you know what they are?
True leaders aren't made by business schools - they make themselves, seeking out the knowledge, skills, and experience they need to succeed. Read this book and you will learn the principles it takes most business professionals a lifetime of trial and error to master.
- Sales Rank: #5330 in Books
- Published on: 2012-08-28
- Released on: 2012-08-28
- Original language: English
- Number of items: 1
- Dimensions: 8.30" h x 1.10" w x 5.40" l, .87 pounds
- Binding: Paperback
- 464 pages
From Publishers Weekly
Kaufman, a former middle manager at Proctor & Gamble and founder of personalmba.com, argues that those interested in business would be better served by skipping the M.B.A. and focusing on the critically important concepts that really make or break a business. According to the author, much of what is taught in business schools is outdated; you're better off saving the expense and finding other ways to learn about these core principles--which Kaufman synthesizes--in such areas as value creation, marketing, sales, and finance. He also explores the psychological side of business and examines how consumers take in information, make decisions, and decide what to do or not to do. Acknowledging the panoramic overview his approach necessitates, he includes a fairly lengthy list of sources to seek out if more information is needed. While Kaufman's rallying call will not eradicate the need or desire for M.B.A. degrees, he does provide a surprisingly solid alternative full of information that even those already in the workplace will respond to. (Dec.) (c)
(c) Copyright PWxyz, LLC. All rights reserved.
Review
"A masterpiece. This is the 'START HERE' book I recommend to everyone interested in business. An amazing overview of everything you need to know. Covers all of the basics, minus buzz-words and fluff. One of the most inspiring things I've read in years." - Derek Sivers, founder of CDbaby.com and sivers.org
"No matter what they tell you, an MBA is not essential. If you combine reading this book with actually trying stuff, you'll be far ahead in the business game."
- Kevin Kelly, founding executive editor of Wired and author of What Technology Wants
"File this book under NO EXCUSES. After you've read it, you won't be open to people telling you that you're not smart enough, not insightful enough, or not learned enough to do work that matters. Josh takes you on a worthwhile tour of the key ideas in business."
- Seth Godin, author of Linchpin
"I've run across few people who conceptually 'grok' how to get things done better than Josh Kaufman."
- David Allen, author of Getting Things Done
"A creative, breakthrough approach to business education. I have an MBA from a top business school, and this book helped me understand business in a whole new way."
- Ali Safavi, executive director of international sales and distribution, The Walt Disney Company
"I've run across few people who conceptually 'grok' how to get things done better than Josh Kaufman."
-David Allen, author of Getting Things Done
"File this book under NO EXCUSES. After you've read it, you won't be open to people telling you that you're not smart enough, not insightful enough, or not learned enough to do work that matters. Josh takes you on a worthwhile tour of the key ideas in business."
-Seth Godin, author of Linchpin
"No matter what they tell you, an MBA is not essential. If you combine reading this book with actually trying stuff, you'll be far ahead in the business game."
-Kevin Kelly, founding executive editor, Wired, and author of What Technology Wants
"A creative, breakthrough approach to business education. I have an MBA from a top business school, and this book helped me understand business in a whole new way."
-Ali Safa vi, executive director of international sales and distribution, The Walt Disney Company
"An absolutely amazing book! I'm highly recommending this to all creative types, for the best overview of the modern business mind-set they need."
-Derek Sivers, founder, CD Baby, sivers.org
"Josh has synthesized the most important topics in business into a book that truly lives up to its title. It's rare to find complicated concepts explained with such clarity. Highly recommended."
-Ben Casnocha, author of My Start-Up Life
"An enterprising and thrifty way to hack business school. This is a fantastic resource for motivated autodidacts looking to get into business."
-Gina Trapani, founding editor, Lifehacker.com, and author of Upgrade Your Life
About the Author
Josh Kaufman is the author of The Personal MBA: Master the Art of Business, an international bestseller with translations in 12 languages. Josh specializes in teaching professionals in all industries and disciplines how to master practical business knowledge and skills. Josh's unique, multidisciplinary approach to business mastery has helped millions of readers around the world learn essential business concepts on their own terms. PersonalMBA.com hosts over 50,000 readers every month, and has been visited over 2 million times by readers all over the world since its founding in 2005. Josh's work has directly saved prospective business students millions of dollars in unnecessary tuition, fees, and interest by providing an effective, affordable, and debt-free method of learning fundamental business principles.
Most helpful customer reviews
15 of 15 people found the following review helpful.
Master of Business Awareness
By Erik Gfesser
Of the many reviews I have written here, writing a review for this text was among the most difficult because "The Personal MBA" has a large target market consisting of a wide variety of potential readers, and the vast majority of reviews here are very positive. Because of this situation, I fall back on my review philosophy, which is to write as objectively as possible, taking into account the claims of the author in terms of their goals, as well as comparing to other materials in the marketplace. What is not necessarily fair is to write solely based on my knowledge or experience, which often times does not match the backgrounds of the target audience.
Admittedly, this text is very well written. The writing style and organization of Kaufman contributes greatly to readability, and I enjoyed this aspect of this book. Many business works have a lot of fluff, and in general most of this text provides substance that will be appreciated by many readers. In addition, the history behind this book is interesting in that it came about as a natural step after the author created a heavily visited blog listing books and resources he had found valuable in his studies, so readers can be assured that this text was not written from an ivory tower perspective but resulted directly from reader interest.
The author writes at length in his first chapter as to why this book should be read. It is not easy summarizing this chapter in a few short sentences, but Kaufman mentions that what he provides here is "a set of foundational business concepts that you can use to get things done. Reading this book will give you a firm foundation of business knowledge you can use to make things happen. Once you master the fundamentals, you can accomplish even the most challenging business goals with surprising ease." Later, the author calls this text "a self-directed crash course in business", and provides an extensive discourse as to why the traditional MBA does not provide significant value.
Neither the author nor myself has an MBA, although we have both gone to business school (and I also have a graduate degree). While I cannot speak for the author, in my opinion there is substantial material in this text to provide to the business neophyte. However, I was unfortunately not overly impressed with the material Kaufman provides after chapter 6, which is midway through the book. The author makes up on this aspect to some extent by providing an appendix entitled "How to Continue Your Business Studies" that lists dozens of texts in a variety of business topics, although this list serves as a reminder that, as communicated in the introduction, what the author provides here is an introductory text.
If you do not have time to read this whole text, I recommend reading chapter 2, entitled "Value Creation" on creating value for customers. The summary that the author provides on the "Twelve Standard Forms of Value" (product, service, shared resource, subscription, resale, lease, agency, audience aggregation, loan, option, insurance, capital), for example, is very well done. The "Ten Ways to Evaluate a Market" is also especially well done. The author obviously summarizes and synthesizes material from disparate sources very well, but the reader needs to be aware that much of the content provided is just that, a CliffsNotes-styled survey of what the author has determined is fundamental to studying business.
From the perspective of a consultant, be aware however that this material is sometimes overly summarized and synthesized. For example, in his 3-chapter presentation on understanding systems, analyzing systems, and improving systems, many important topics are glossed over, and unless the reader understands the substance that is waiting for them within the reading lists the author provides, they may minimize the importance or complexity of the topics. For example, the definition that the author provides for "Return on Investment (ROI)" is limited to "simply dividing the amount of money you collect by the amount of money you spent, then subtracting by 1.00."
However, there would be no need for texts such as "The Consultant's Scorecard: Tracking Results and Bottom-Line Impact of Consulting Projects", by Jack Phillips (see my review), where several ROI calculations are detailed at length, if this calculation were so simple. Fortunately, Kaufman points the reader in the right direction, and presents in an entertaining manner, and so this book is recommended to anyone new to business topics, especially aspiring entrepreneurs. One of the best features of this text are the many quotes from other sources that introduce each of the subtopics in the 12 chapters provided here, and for this reason alone this book is worth a read.
3 of 3 people found the following review helpful.
Jack of All Trades Master of None
By T Paul Buzan
***What's The Story?***
Picture yourself seated before a massive table. From corner to corner this table is set with plates. On each plate is a delectable, bite-sized morel. You're hungry, so you dig in.
Everything is delicious and there's a huge amount of variety on offer to keep your taste buds engaged. But as you eat, you begin to notice something unsettling: The food doesn't fill you up. In fact, each bite only whets your appetite and serves to make you hungrier than you were before you began eating.
You sat down hungry, but you leave famished.
Reading Josh Kaufman's "The Personal MBA: A World-class Business Education in a Single Volume" was a lot like dining at this imaginary feast. Mr. Kaufman's debut (he spun the book off of his very popular website) covers a wide array of topics. Unfortunately, this coverage is so shallow that I found very little of it to be truly fulfilling.
"The Personal MBA" is divided loosely into three parts that deal with business basics, psychology, and understanding how systems work. Each chapter follows the same essential structure: A brief overview of the topic at hand, followed by a glossary of key concepts related to the chapter focus.
This structure effectively organizes and introduces what is no doubt a nearly overwhelming amount of information. "The Personal MBA" is a synthesis of what Mr. Kaufman has learned from reading hundreds of business books over the last couple of years.
As an act of synthesis it's an impressive achievement. But synthesis is by nature reductive, and I feel this book and its audience would have been better served if Mr. Kaufman had covered half the material with twice the depth and insight.
As it stands, "The Personal MBA" reads like course description catalog for the ultimate MBA program.
***What's The Point?***
The foundation of all successful businesses is this: Identify a need and then satisfy that need better than anyone else in the market.
Competition is a good thing! Entering a competitive market tells you that there are paying customers for the services or products you wish to offer.
Resources, time, and flexibility are the three universal currencies of every negotiation.
Your ability to succeed at any given task is directly proportionate to the amount of undivided attention you can give to that task. Productive multitasking is a myth.
Capitalizing on your strengths rather than working to shore up your weaknesses will empower you to get more done.
Gall's Law: All complex systems that work evolved from less complex systems that worked.
This is just a smattering of the many, many topics covered in the book. It's also about how deep "The Personal MBA" explores each one.
***Buy, Borrow, Skip?***
If you have any experience at all with business, "The Personal MBA" is a book to borrow and skim through. There's definitely good knowledge here, but little of it is developed thoroughly.
If you're completely uninitiated when it comes to business, "The Personal MBA" is probably a good book to have in your library. At the very least it will prime your curiosity and point you in the direction of more comprehensive sources of knowledge.
From reading this book and perusing his site, it's apparent that Josh Kaufman is a bright dude. His passion for self-learning is infectious, and I feel inspired by his example.
I hope this isn't his last book. I also hope that whatever books he works on in the future don't sacrifice depth for breadth the same way "The Personal MBA" does.
1 of 1 people found the following review helpful.
The author has done a fantastic job of synthesizing a wide-ranging category of topics and ...
By Jayasimhan Masilamani
What should you expect:
Reading one book will not make you an expert on a topic that takes decades of practice to be competent. The author has done a fantastic job of synthesizing a wide-ranging category of topics and presents short summaries.
I see use for this in two ways:
1. Get exposure to what you need to learn. In my mind, the biggest obstacle for beginners is knowing where to start. This book gives you that map.
2. If you are aware of some of these topics, but you need to brush up, this can be your go-to guide.
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