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.