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MBA vs. 1M/1M, Let’s Do The Math

Posted on Saturday, Aug 13th 2011

By guest author Irina Patterson

I recently read a book by Philip Delves Broughton called Ahead of the Curve – Two Years at Harvard Business School.

The book is about Philip’s firsthand experience at HBS during 2004-2006. The book is so sarcastic that, reportedly, it made Harvard very unhappy.

I enjoyed the book, but it also made me wonder if getting an MBA is worth the investment.

Philip left a job as a Paris correspondent for The Daily Telegraph (UK) to get his Harvard MBA in 2004. At the time he had a wife and a small son and his second son was born while he was at HBS. His school-related debt for the two years at HBS amounted to over $170,000.

When he graduated, Philip couldn’t get a job related to business. He writes for The Financial Times now. So, he went from being a writer to being … a writer. I am not sure that is what he had in mind when he applied to HBS.

In the book, among other things, Philip tells a story how he and his buddy started a media business while at HBS, how it didn’t go anywhere, and how the HBS entrepreneurship professor wasn’t of much help.

I don’t know if Philip still pursues entrepreneurship. If he does, I think he could appreciate our 1M/1M Premium Program.

After all, one year in 1M/1M  costs $1,000. One year at HBS cost Philip $85,000.

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Entrepreneurship is focussing and investing in your idea ( Known) while accepting the Unknown

Whatever our Knowledge, the fact of the matter is : the Known is a miniscule part and the Unknown is the Infinite Part

People who are driven by Fear of the Unknown and Insecurity can never be successful entrepreneurs, whether they hold degrees from the Top Business Schools in the world like Harvard. If we analyze some of the reasons why intelligent people apply for such schools is their inability to face the reality of the market place and the need for a comfort zone , a facade( Harvard degree for example) behind which they hide. Now, this might be effective from a branding and positioning standpoint for the rest of the world, but the person has not changed.

Now the question is whether the Harvards can change you or not? The answer is Yes and No. It is very subjective , depending on the willingness to come to terms with the Unknown and ability to learn from your peers and question your own mental conditioning.

If we ask the question, whether 100 % of Harvards would come out of their innate mental conditioning to blossom as entrepreneurs, the answer is a simple "NO"

The benefit that I see from a 1M/1M Program :

-It is conducted by Real People (People who have got their hands dirty in the Market Place)
– You get to face Real World Problems all the time , as opposed to simulated Case studies
-There is a significant cost saving ($85K Vs $1K)+ Opportunity Cost of your current earnings ( Your current Annual Salary)
-Reduction of Time to Market Costs ( $ —— Millions)
-Significant savings on account of failing fast and forward ( $—– Millions)
-Access to Proven Methodologies and Market Validated Mentors as Advisors ( This is a big saving)

The list is no way complete… The Key is to create awareness and I am sure there will be significant adoption of the Program

Pradeep Kumar Thursday, August 25, 2011 at 8:01 AM PT