Watch The MBA Show Episode 11 - If you want to be an entrepreneur ... be Indian

(1) Headlines: “Someone is #1”

Bloomberg Business Week releases their list of the Top U.S. Business Schools. The ranking is based one 3 stats.

• 5. Standford
• 4. Kelloggg
• 3. Wharton
• 2. Harvard
• 1. Chicago Booth

Tom - Why is this #1?
Miro - Because it’s #1. Combo of rankings of graduates, recruiters, and the publications of the faculty?
Why do you care about this list

Tom - Pedigree

Miro - Education?

Tom - This list has nothing to do with education.  People at the end of the day really care what other people think of the value of their degree.  It’s a component of self-worth.

Miro - So, part of the reason you’re going to a b7 business school is that it makes you feel better about yourself?
Shouldn’t you be embarrassed to admit that?
I’m not because I know that secretly, everyone else feels this way too.
Riffing on b-school:  Least challenging curriculum at MIT.  But most expensive!!!



http://www.businessweek.com/bschools/special_reports/20101111best_business_schools.htm




(2) Howard Says (With the ACTUAL Howard)

Welcome one of our idols. A legend in the East Coast investment Community .... Howard Anderson … Howard founded Yankee Group and co-founded Battery Ventures. Battery was an early investor in A123 systems, the largest IPO in the U.S. last year.

Put the photo paper over his face and then throw it away.

Howard Strategies:

-Tell us your favorite lie

Bobble head joke

Like the cut away scenes with the mentor from Jerry Maguire.  The guy with the catch pearls of wisdom: “If this is empty.  This doesn’t matter.”

You went to business school when capitalism was invented. Maanagment education must be light years better since then?

Alot of people in the audience want to be VC’s. What’s it like Howard, is it worth it?

Howard, you are independently wealthy.  Why do you teach?

One of the things you’re famous for is spotting good entrepreneurs.  What are the qualities of a good entrepreneur, and who shouldn’t be be an entrepreneur?

(3) Jargon: FOMO

Fear of Missing Out

(4) Contest Announcements:

• The Wake Forest - 36 hour - MBA Marketing Summit Case Competition - Registration opens Nov 11the for the Competion in February - 4-7 full time MBA students per team - http://business.wfu.edu/default.aspx?id=608

• MIT $100K Executive Summary Competition - at least one student from a New England School - Dec 2 - www.mit100k.org

• Ivey Business Plan Competition - 2-3 Page exec summary due by November 21-  http://iveybpc.com/

• 2011 Rice Business Plan Competition  - Most prize money of any competition registration open Nov 15 - closes Feb 4 - http://alliance.rice.edu/alliance/RBPC.asp

(5) Business School Tip of the week:

Ask for a refund



(6) What's on your Radar

Miro: Wedding

Tom: Preview Screening of Harry Potter and the Deathly Hallows Part I

Howard: Going to Vermont

Watch The MBA Show Episode 10 - Get your MBA on Facebook

(1) Headlines: “Get Your MBA on Facebook”
-This story is from Katherine Molina from MIT Sloan
-London School of Business and Finance is offering classes for free entirely on Facebook. You can watch lectures, participate in discussions and even take exams online.

Miro: So, my MBA is worthless now?

Tom: I disagree, the value of your MBA is transitioning from information based to coaching based.

Miro: So I’ll be coached by a huge ex-football player from nebraska?

Tom: @11: “You call this a P&L?!?!  I wipe my ass with P&L’s better than this.”

Miro: Stunned shock and awe.

Tom: Actually, something inbetween.  Coach not INSANE, but help you get better at making really tough management decisions, such as firing someone.

Miro: Do what do I, do now?

Tom: Take advantage of simulations, coaching, & experience based classes.  Take less lecture.

Miro: eaiser to get info

Tom: Huge Transition in B-schools.  Information is becoming comoditized.  101 type info moving out of classroom.  Simulation, personal improvement, & coaching moving in.

LINK:

http://www.facebook.com/LSBFGlobalMBA?v=app_4949752878

there's an article about it here: http://bit.ly/cQFiRg

(2) Career Path You should know about: Search Fund

A search fund is: A recent MBA assembles an investor group who puts up $200-500K to support you while you find a company to purchase. When you find that company, those same investors put up the money to purchase the company - usually $2-10M

Tom: Good god, this is too good to be true.  This is like funded job search.  Where you get to fly around to trade shows and have drinks with people for 2 years.  What’s the catch?

Miro: Different kind entrepreneur. Not your idea. Not building Microsoft. Looking for a small business through throwingoff good cash, in a growing market.

Tom: So this is only possible for you if you have tons of brand credibility fairy dust.

Miro: The netowrk

CES at Stanford has created a How-To guide for search funds.  You can find it here: http://www.gsb.stanford.edu/ces/resources/search_funds.html

(3) Jargon: Black Monday

Tom: Isn’t that the biggest online sale day of the year?

Miro: Actually I’m talking about the B-school “Black Monday”, Monday after thanksgiving everyone broken up with their significant other from before business school

(4) Contest Announcements:

• Harvard Business Plan Competition Entry from due Dec 17: They give you $1000 for entering this one. Need at least one HBS Students - http://www.hbs.edu/entrepreneurship/bplan/
• Ross Renewable Energy Case Competition - Jan 27-28; check the website for further details - at least 2 first year MBAs needed - Deadline MId December http://ross.campusgroups.com/energy/recc-home/
• George Washington International MBA Case Competition - school must apply by Dec 4, $2500 -http://business.gwu.edu/grad/casecomp/
• MIT $100K Executive Summary Competition - at least one student from a New England School - Dec 2 - www.mit100k.org

(5) Business School Tip of the week:

Find the classes that let you practice those skills you are learning. Take advantage of the chance to screw it up now.

Other: Does this contradict picking classes based on prof?

Other: They are highly correlated because good professors know this and build experiential learning into the curriculum.

(6) What's on your Radar

Miro: Sales Competition

Tom: I am working all weekend teaching the GMAT.

Watch Episode 9 of The MBA Show | | Job Interview Horror Stories

(1) Introduction

(2) Headlines: Everyone is #1
Princeton Review's Ranking of best MBA programs

Best Administered	Harvard University
Best Campus Environment	UCLA
Best Campus Facilities	Bentley University
Best Professors	University of Virginia
Greatest Opportunity for Minority Students	Howard University
Greatest Opportunity for Women	Simmons School of Management
Most Family Friendly	Brigham Young University
Best Career Prospects	Harvard University
Most Competitive Students	Vanderbilt University
Toughest to Get Into	Stanford University
Best Classroom Experience	Cornell University

(2) Optional Headline: Republicans Gain Control of the House and weaken Democrats in the Senate.

Reuters: “The split between the House and the Senate is likely to cause gridlock, and analysts say Congress might only pass mandatory spending bills and non-controversial measures.”

Reuters: “Republican Agenda:  Freeze Government Hiring, End Gov’t Control of Fannie and Freddie, Scale back spending $100 billion.”  Lower demand for housing, lowering prices

Obama’s Agenda

(3) Beacon Hill Social Club Newsletter: “Tom Rose and Miro Kazakoff as The Ambiguously Gay Duo.  Check out www.thembashow.com for the latest ambiguously gay scenes.”

I can’t believe this!  You know what this means?  We have been mentioned in the media!

(4) Many of you are grappling with interviews.  So we have a special segment Today.  Nabil Laoudji is “MBA Storyteller” at http://www.mbastoryteller.com/.  He brings his experience to TheMBAShow, with this piece on Job Interviewing.

[Play Video]

That was Nabil Laoudji.  You can see more of his work at http://www.mbastoryteller.com/

The only thing sexier than getting an MBA, dropping out of an MBA program.  

Nabil has taken a leave of absence from his MBA to

(5) Contest Announcements: MBA M-Prize Re: Allan’s Email

http://www.managementexchange.com/m-prize/mba-m-prize

(6) Jargon: 5 Words at B-School that have lost all meaning

We will now be holding a funeral for five words at B-school that have lost all meeting.

Miro, is dressed a little informally.  But changes into a black t-shirt, and yamaka.  Tom says, well I’m dressed for a banking interview, which fortunately is also appropriate for a funeral.

Synergy
Leadership
Innovation
Development
“Building on your last point” (Followed by anything irrelevant.)

(7) Business School Tip of the week:  The Panic Schedule
From Cal Newport, best study blogger out there.
Make it visual and go into panic mode

(8) What's on your Radar
Miro: Nothing
Tom: Maine Brewers Festival