The Personal MBA: Master the Art of Business
Format: PDF / Kindle (mobi) / ePub
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 Even the elite schools like Harvard and Wharton offer outdated, assembly-line programs that teach you more about PowerPoint presentations and unnecessary financial models than what it takes to run a real business.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?
simply vari ous combinations of the core principles. —JOHN T. REED, REAL ESTATE INVESTMENT EXPERT AND AUTHOR OF T SUCCEEDING his book is designed to teach you the fundamentals of sound business practice as quickly and efficiently as possible. Here’s a quick preview of what you’ll learn: How Businesses Work. A successful business, roughly defined, provides (1) something of value that (2) other people want or need at (3) a price they’re willing to pay, in a way that (4) satisfies the cus
with LEGOS: once you have a set of pieces to work with, you can put them together in all sorts of interesting ways. SHARE THIS CONCEPT: http://book.personalmba.com/modularity/ Bundling and Unbundling A bit of this and a bit of that is how newness enters the world. T —SALMAN RUSHDIE, NOVELIST he benefit of making your offers small and Modular is that it allows you to take advantage of a strategy called Bundling. Bundling allows you to repur pose value that you have already created to create
money, and energy, so it’s best to find out when people are interested in hearing from you before you reach out. Attracting your Probable Purchaser’s Attention immediately after they’ve reached the Point of Market Entry is hugely valuable. Companies like Procter & Gamble, Kimberly-Clark, Johnson & Johnson, and Fisher-Price pay an enor mous amount of attention to Points of Market Entry, since they have a huge 90 T HE PE RSONAL M BA impact on the effectiveness of every baby-product-related
Pric the price could be anything—you have to set it yourself, since houses don’t come with built-in price tags. Let’s also assume you’d prefer to sell the house for as much as possible. How would you go about setting the largest price a customer will actually accept? There are four ways to support a price on something of value: (1) replace ment cost, (2) market comparison, (3) discounted cash flow/net present value, and (4) value comparison. These Four Pricing Methods will help you esti mate
getting a good deal before you ever reach the table. By thinking about the Setup, you can make sure you’re negotiating with the right person—the person who has the Power (discussed later) to give you what you want. Research is what gives this dimension of negotiation its power—the more knowl edge you gain about your negotiating partner during this phase, the more power you have in the entire negotiation, so do your homework before presenting an offer. The second dimension of negotiation is