Successful Blog

Do You Need an MBA to Own a Business?

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By Kayla Matthews

It’s the American Dream, right? Graduate high school, go to college, get a degree and open a successful business. Is an MBA (Masters in Business Administration) necessary to open and own a business?

New trends seem to suggest that it isn’t. Let’s take a closer look at these trends and help you figure out whether you need to go back to school to get the most out of your business.

Successful Without a Degree

An MBA might seem like the perfect tool to help you succeed when owning a business, but that isn’t always the case. Some hugely successful individuals, from Bill Gates of Microsoft to Mark Zuckerberg of Facebook succeeded without degrees, but they exemplify the exception rather than the rule.

A report by the Bureau of Labor Statistics and the U.S. Small Business Administration shows that 20 percent of new businesses fail within the first 12 months. Of those that survive, only half will reach their five year anniversary.

The basis of any successful business means having more cash coming in than going out. This fundamental rule seems like common sense but business colleges still teach it — and many business owners without an MBA seem to miss this.

If you don’t have a degree but own a business, should you consider going back to school?

A Changing Landscape

Business isn’t as simple as it used to be. Gone are the days where you could open a store and make it successful by running a couple of ads in the local paper. The business landscape constantly changes, and it can be difficult to keep up with these changes without a degree under your belt — especially with new techniques taught in the classroom.

Getting an MBA is an expensive proposition — a complete degree program at a prestigious school can cost upwards of $130,000. For someone working in a business career, the ROI on a business degree is quicker than someone starting their own business. Becoming an entrepreneur doesn’t come with a signing bonus, unfortunately.

Networking Is Key

Getting an MBA — or taking some business-focused night classes to continue your education — isn’t just good for learning how to navigate the ever-changing business landscape. It is also an invaluable tool for creating professional connections that can mean the difference between a successful business and a failed one.

Even if you think you have enough experience to run a business, going to business school can be one good way to make the networking connections you might not find elsewhere. You might even find a business partner!

Experience Isn’t Everything

Small businesses start every single day based solely on the skills and passion of the business owner, but experience and passion aren’t always enough to keep a business afloat. Ambition will only carry you so far without the business acumen to turn your dreams into reality.

A business degree is also a great fall-back if your business ends up being one of the ones that fail within its first year. Having a few years of experience under your belt makes you a more attractive candidate for hiring managers than someone who has the same degree but is fresh out of college.

 

When it comes down to it, do you need an MBA to run a business? The answer is both yes and no. A business degree can teach you things you might not learn otherwise, and it is an invaluable tool for networking and gaining industry experience. You don’t need to have a degree to create a successful business, but it helps.

 

About the Author: Kayla Matthews writes about communication and workplace productivity on her blog, Productivity Theory. Her work has also appeared on Talent Culture, MakeUseOf, The Muse and Fast Company.

Featured Image: Photo by MD Duran on Unsplash

15 Podcasts for Business Managers and Professional Entrepreneurs

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By Kayla Matthews

Business managers and entrepreneurs are busy people — there’s always more to do and room to grow. Busy people can still take time to learn, however. If you’re an ambitious worker, there’s a good chance that you’re always hungry for more knowledge. Podcasts allow you to fit learning into your free moments. If you’re interested in learning even more about your field, consider listening to a few of these 15 excellent business podcasts.

1. Seeking Wisdom

In the Drift podcast Seeking Wisdom, hosts David Cancel and and Dave Gerhardt talk personal and professional growth. They’ve covered topics ranging from marketing to running a meeting to furthering your personal career. Every episode comes in a short, bite-sized format perfect for busy managers and business owners.

2. Hack the Entrepreneur

In his interview podcast Hack the Entrepreneur, Jon Nastor talks to big-name and upcoming entrepreneurs about their fears, habits and inner battles to find out what makes them successful. Listeners learn about forming successful habits, finding ideas and starting an online business.

3. Startups for the Rest of Us

Startups for the Rest of Us is a show for developers, designers and entrepreneurs focused on helping people launch software products successfully. Listeners interested in tech entrepreneurship can learn loads from the hosts’ combined 20 years experience as software engineers.

4. HBR IdeaCast

From the people behind Harvard Business Review, HBR IdeaCast features talks with leading thinkers in business and management. Business professionals and entrepreneurs can learn about innovations and current issues in business, from AI to workplace diversity. The show’s host is Sarah Green Carmichael, an executive editor at Harvard Business Review.

5. Business Wars

Fans of documentaries and audio dramas will love Business Wars. Both entertaining and informational, this show tells the inside stories of battles in business. Some of the stories covered include Netflix vs. Blockbuster, Marvel vs. DC and eBay vs. PayPal. Learn what makes successful companies rise and others fall when facing fierce competition.

6. 1st Talk Compliance

Employers hoping to get legal advice during their morning commute might consider listening to 1st Talk Compliance. Host Catherine Short and her guests address issues employers face when understanding and complying with the Americans with Disabilities Act and handling ADA claims. Listeners can find legal definitions, discussions and more from experts in health care and compliance.

7. BBC World Business Report

Entrepreneurs who want to stay informed about the current biggest market influences might listen to BBC World Business Report. The show updates daily and brings listeners business and financial news from around the world.

8. The $100 MBA Show

Wish you could expand your business knowledge in the time it takes to take a shower? The $100 MBA Show provides short, actionable business lessons in just over 10 minutes. New episodes provide “no-fluff” advice every day on a variety of topics, so you can learn what you want whenever you want. Whether you’re new to business or an experienced entrepreneur, you’re sure to learn something new.

9. Mixergy

In the podcast Mixergy, host Andrew Warner interviews successful business founders so you can learn from them. You can listen to interviews with more than 1,500 entrepreneurs, including founders of well-known companies like Pixar and Linkedin.

10. Planet Money

From NPR, Planet Money explains the economy in a way that’s actually fun by telling both common and lesser-known money stories — from combating money in politics to conquering the onion market. Planet Money is entertaining, informative and weirdly fascinating.

11. WorkLife With Adam Grant

In the TED podcast WorkLife, organizational psychologist Adam Grant gives listeners an inside account of unusual workplaces. The show provides insight into how people tackle work challenges together, so it’s a great resource for managers and employers.

12. Girlboss Radio

In each episode of Girlboss Radio, host Sophia Amoruso interviews glass-ceiling-shattering women entrepreneurs, founders and creatives. Their conversations are honest, insightful and funny, providing lessons for hopeful female entrepreneurs and everyone.

13. No Quit Living

The No Quit Living podcast knows that people need motivation to reach their potential. In every episode, host Christopher Wirth interviews successful people from all walks of life to find out what motivates them to succeed. No Quit Living helps entrepreneurs find drive to pursue their goals even in the face of adversity.

14. Entrepreneurs on Fire

Award-winning podcast Entrepreneurs on Fire focuses on providing the inspiration and strategies entrepreneurs need to succeed. With over 2,000 episodes, Entrepreneurs on Fire has useful interviews and tips for anyone interested in business. You can listen to new episodes every Monday and Thursday.

15. Growth Now Movement

The Growth Now Movement podcast brings listeners interviews with entrepreneurs and game-changers who’ve turned professional and personal struggle into growth. Episodes will inspire you while providing some truly useful insight into the nature of growth and success.

Listen and Learn Today

As an ambitious entrepreneur, you’re always looking for new opportunities to learn an improve. These podcasts can provide insight and inspiration, whether you’re just starting your career or moving up. All you have to do is listen to start learning.

 

About the Author: Kayla Matthews writes about communication and workplace productivity on her blog, Productivity Theory. Her work has also appeared on Talent Culture, MakeUseOf, The Muse and Fast Company.

Featured image: Photo by Mohammad Metri on Unsplash

6 Inspirational Keynote Speaker Events Professionals Should Attend in 2019

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By Kayla Matthews

To keep pace with business best practices, you need to stay at peak professional prowess. Your skill in the workplace depends on constant self-improvement, and there are few better — or more entertaining — ways to get inspired than by attending one of next year’s keynote speaker events.

At the best in their industry and the top of their class, keynote speakers offer insight that has guided them toward success in their careers. The advice of top executives, CEOs and thought leaders is invaluable, and professionals with high aspirations should reserve their passes as soon as possible.

In this article, we’ll list six inspirational keynote speaker events every businessperson should attend in 2019.

1. SXSW

South by Southwest began in 1987 and has only continued to grow in size and popularity. Based in Austin, Texas, the conference runs for 10 days from March 8 to 17 and attracts talent from the film, music and interactive media industries. Simply put, those in the entertainment sector can’t afford to skip SXSW.

Instagram co-founder Kevin Systrom, television showrunner Marti Noxon and singers Shirley Manson and Lauren Mayberry are all set to appear on stage in 2019, providing a diverse lineup that’s sure to keep the interest of anyone involved in the creative community. Don’t miss out on this prime opportunity!

2. IBM Think

From one of the most famous names in innovation comes an exciting event every tech professional should make time to see. Hosted in San Francisco’s Moscone Center, IBM Think 2019 runs from Feb. 12 to 15, and promises to thrill attendees with incredible advances in their field, offering discussions with IBM experts.

Whether you’re a fledgling IT administrator, a software developer or the head of your own Silicon Valley startup, IBM Think 2019 will give you ample opportunity to network with like-minded individuals in your profession. This is one speaker event that’s mandatory for those who want to keep current.

3. Inspiring Women Leaders Conference

Relevant to businesspeople of any gender, the 2019 Inspiring Women Leaders Conference will host speakers who have overcome biases and barriers in male-dominated industries. Their success stories and actionable advice are an inspiration to those who struggle with similar obstacles every day.

Both men and women can learn from the trials of these individuals and their push for fair business practices. Interested professionals should set aside time from March 7 to 8 to attend the conference in Gainesville, Fla., hosted at the University of Florida’s Hilton Conference Center.

4. Inspire: Leading Authorities’ Day of Ideas

Leading Authorities, a Washington, D.C.-headquartered speakers bureau, is hosting a can’t-miss, one-day-only event featuring some of their most sought-after keynote speakers. The 2019 Day of Ideas event, held on March 8, is your opportunity to hear presentations on engaging topics, while networking with top professional meeting planners.

5. World Conference on Quality and Improvement

Representing attendees from a wide variety of industries and nationalities, the 2019 WCQI brings professionals together to discuss the challenges they face in today’s unpredictable marketing landscape. The 2019 theme is Leading Change, with a focus on how businesspeople can approach problems proactively.

From May 20 to 22 in Fort Worth, Texas, professionals will learn how they can engage tomorrow’s problems with today’s solutions. They’ll hear from inspirational speakers on how best to address subjects like AI, big data, cybersecurity, smart manufacturing and other relevant topics.

6. Adobe Summit

Adobe is a familiar brand in dozens of different industries, from advertising to finance to data management. Last year’s summit saw leaders from Coca-Cola, Facebook, Twitter and LinkedIn contribute to the conversation, and this year’s summit will introduce more big names in business.

Those interested in Adobe’s latest innovations will have a chance to hear from speakers who share their passion, and from March 26 to 28 in Las Vegas, Nev., professionals will meet in the Sands Convention Center and Venetian Congress Center to network and talk shop about their occupations.

Don’t Get Left Behind!

As an essential part of your company, you have a responsibility to stay up to date and ahead of the curve. Any of the six events listed here can help you on your way toward professional growth, so don’t hesitate!

Research an event and secure a spot today.

About the Author: Kayla Matthews writes about communication and workplace productivity on her blog, Productivity Theory. Her work has also appeared on Talent Culture, MakeUseOf, The Muse and Fast Company.

Featured image: Photo by JESHOOTS.COM on Unsplash

Self-Care Matters — Especially in Business

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Does your “To Do” list include self-care?

Sure, we all have To Do lists.

That list of things is endless.

There’s always more that can be done.

Here’s the thing — no matter how long your list of things to get done is — it’s essential that you put caring for yourself on that list every day.

Self-care really does matter. In fact, it’s essential. Especially in business.

The list of tasks will never end. You in-box will always have more. The notifications will rarely end. Yet — the more that you make yourself a priority the better capable you will be at completing the tasks that are in front of you each day. The more focus you will have. The easier it will be to reach your goals.

As urgent as everything is — there truly is nothing more urgent than your own self-care. Remember that. It is an essential business practice.

Simple Self-care Strategies

Here are some simple strategies that you can immediately put into action in order to begin caring for yourself right now.

Drink more water. 

Sure it sounds simple. Yet — for most of us, we don’t drink enough water in the day. Water is really, really good for you. And it’s especially good for helping your brain to stay focused and on task. Hydrate. Instead of reaching for a coffee — refill your water bottle — and drink, drink, drink!!

 

Go outside and look at the sky.

Sometimes we spend too much time inside. And sometimes when we are outside we are focused on where we are going, what’s happening around us or what the weather is doing. Try going outside and simply looking up. Look at the sky. Notice the colours you see. Are there clouds? Is the sun shining? Do you see stars? Breathe. And breathe again. Plus — breathe some more. All while looking up and at the sky. Reconnect your feet to the ground while doing nothing but taking in the wonder of what the sky has to show you. Liz has written about the importance of the sky on more than a few times.  See her posts – Beach Notes: A Few Minutes for Yourself and the Sky and Imagine a Blue Sky, Blissful Weekend.

Go for a walk.

Feeling frustrated? Tired? Disconnected? Put your shoes on and go for a walk outside. It doesn’t need to be a big walk. Perhaps it’s just to your mailbox. Or maybe around the corner to the park or local store. Put one foot in front of the other and simply move. Step by step by step. And while you are at it — try looking up at the sky too and also take a big drink of water from that water bottle that you filled up! Rosemary touched on the importance of moving your body in this post – How to Get More Done by Managing Your Energy.

Get quiet and breathe.

Stop talking. Just be quiet. Tune out the noises around you. Breathe. In and out. And in and out. Over and over. Listen to your breath. Trust that it knows what to do. Follow your breath. Be still and in the moment. You don’t need to think about anything other than your breathing. Do this for 5-10 minutes twice a day to regroup your mind with your body. Simply be quiet. And breathe.

 

Self-care is really so very important. And it’s actually quite simple. So make sure it’s on the top of your To Do list” and keep it there.

Jane Boyd is a Partner in GeniusShared. She is also the CEO of 45 Conversations Media & Education Ltd, a Canadian education and training company based just outside of Vancouver Canada. She works with educators, business, community and government in the areas of early learning, work-life, community development and employee engagement.

How to Manage Stress and Mental Wellness When Starting a Business

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By Jean Cherry

The U.S. Small Business Administration reports there are 28 million small businesses, which account for 99.7% of all U.S. businesses. That means a lot of small business owners are making a go as an entrepreneur. Starting a business is exciting and rewarding, but included in that excitement are fast-paced demands and risks of the unknown – all of which can lead to stress.

There are both positive and negative stresses when starting a business. A 2017 survey of entrepreneurs found that positive stressors include increased commercial activity, hiring an employee, and launching a new project or product. Negative stressors include being overworked, employee resignations, and poor business performance.

Here are some tips for small business owners to help manage both positive and negative stressors:

Stay organized.

Stress levels can be diminished when you’re well prepared and have everything in order. Careful planning allows you to anticipate challenges and come up with solutions ahead of time.

Find a creative outlet.

Great ideas come from many places, so take time to dream, take a painting class, get out in nature, meditate, or write in a journal. Business owners can benefit from building time in their schedules to think about innovative and creative ways of doing things and separate themselves from the everyday stress of running a business.

Listen to others.

As a business owner, you have a lot of decisions to make. Being a good listener will show that other people’s opinions are valued. Employees that are closer to different aspects of the business may provide new perspectives.

Be committed and resourceful.

A recent study found that entrepreneurship is common among people who have endured life challenges. They learned to persevere and manage stress by working harder, seeking help when needed, developing social skills, and networking. Everyone can learn from these entrepreneurs.

Balance responsibilities.

One of the most common complaints entrepreneurs have when starting a business is that they feel overworked. Delegation is difficult when there are only a few employees to carry the load, but letting go and sharing the responsibilities of the business can help reduce some of the stress. It’s also necessary to take time away from work and go on vacation. Delegating and taking a vacation helps to avoid burnout.

Exercise and eat right.

Exercise is a great stress reliever. Find something that fits your personality — from walking to marathons to yoga. We have better mental acuity and focus when we maintain a healthy diet. Drink plenty of water, decrease sugar intake, and limit caffeine.

 

Stress management for an entrepreneur is a balancing act, but the journey can be much more enjoyable with good organization, building on creative ideas, valuing input from others, and maintaining a healthy lifestyle.

 

 

Author Bio: Jean Cherry, RN, MBA enjoys sharing her knowledge of health and wellness with readers in her writing for Walgreens, where you can find a variety of vitamins to supplement a hectic entrepreneurial lifestyle at Walgreens.com.

 

 

Although it is intended to be accurate, neither Walgreen Co., its subsidiaries or affiliates, nor any other party assumes for loss or damage due to reliance on this material. Walgreens does not recommend or endorse any specific tests, physicians, products, procedures, opinions, or other information that may be mentioned in the article. Reliance on any information provided by this article is solely at your own risk.

 

How To Change the World: Revisiting The Question 10 Years Later

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This post is an update of:  Change the World: Help Others Pursue the Passion

 

By Brett Farmiloe

 

You ever wonder what you were thinking ten years ago?

Well, the Internet is a wonderful place that documents all types of things, including random blog posts like the one I contributed to this blog 11 years ago.

 

Hey, Brett, How Can We Change the World?

That was the question that inspired this blog post from my 22 year old self. I think it’s a great question to revisit every so often.

So, let’s revisit it. How can we change the world?

Ten years ago, I purchased an RV to travel around the country and interview people about their career paths. Today, I own and operate a digital marketing company that is experiencing Inc. 5000 types of growth. Along the way, my perspective on how to make an impact has evolved.

Let’s take a section of the blog from my 22-year old self.

My idea of changing the world is tapping into a powerful, yet largely ignored natural resource — passion — the passion of people who do what they love.

Yet the model we’re living is not designed to produce passion. It leads us down well-traveled career paths of 8 to 6 jobs that promise bonuses, promotions, and job stability. The model does not place importance on an individual’s love has for the work, but on the quantifiable measurements an individual brings.

I’m not buying that model.

Yikes! Strong words, young Brett.

But, older, more realistic 33-year old Brett has this to add: Money matters. When you have kids, a stay at home pregnant wife, and ba-ba-bills – you need something more stable to stand on…income.

Which brings us back to the question: what’s the way to change the world?  

Let me weigh in. To truly change the world, I believe you need to create something that produces a net positive. For me personally, it’s a profitable business with a work environment conducive to bringing out the best in people. For others, creating something can range from writing a book to raising a beautiful family to generating positive results within a job function.

Yes, I said it – you can change the world within a job. As long as you are a “net positive” for your employer, and your employer effectively applies your contributions to maximize the collective efforts of it’s workforce.

The key is getting clear on the definition of a “net positive.” In other words, the “change” in “change the world.”

 

Net Positive Formula:

Change \ Consumption = (Greater than 1 = You’re changing the world; Less than 1 = you’re temporarily draining the world)

That definition for me has shifted to two parts: “how many people do we employ who are actively engaged with their work” and “what is the impact our efforts have for our clients.” Starting a business multiplies the net positives because of the internal (number of people employed) and external measurements (impact of our work) of the change we’re looking to make. That to me, is changing the world.

For others in a job, a definition can be “do I produce a benefit for my employer that exceeds my salary & associated expenses (benefits)?” For speech givers, ditch diggers, or any position – is the change greater than your consumption?

What does changing the world mean to you? What are you creating? What is the “net positive” you’re measuring to see if what you’re working on – and are passionate about – is making the intended impact?

I’d love to hear it in the comments. And hopefully, let’s revisit this question again before 2028.

 

Brett Farmiloe is the CEO of Markitors an an advisor to an organizational leadership degree program. He has owned 3 RV’s in his lifetime. The last one he traded on Craigslist in exchange for wood floors in his house in Scottsdale, Arizona.

Featured image: Photo by Eugene Quek on Unsplash