We Went To College Thursday… 4Real

“I don’t know any business guys that crush it that lead with ‘I have an MBA’.”

“This is gonna be hard, its going to be cutthroat at times, you gotta be creative, you have to make great decisions on the fly”

“Why the fuck are you in entrepreneurship if you want to go out and get a job?”

“We risk our ass every day, we could sink or sail everyday”

“Oh you want to start a business? Get ready to curl up in a ball and cry.”

“You can know everything about every class but if you have failed to develop yourself, you will not be able to interact with people. You will not be effective and you will not succeed.”

“A textbook has knowledge but a text book will never run a fucking company.”

“If there is a class where a professor says the class is over when the questions run out, then that professor is a fuckin pussy.”

EPISODE INDEX:

  • Welcome Back: 00:30
  • First Impressions of College: 3:30
  • Why Would Entrepreneurs Try to Get a Job?: 14:00
  • Do You Know What A Business Model Is?: 21:30
  • What Should Be Taught In Business School: 27:30 
  • There Are No Stupid Questions: 39:00
  • Getting A Job With No Experience After College: 53:30
  • In Summation: 1:00:00
  • Closing Remarks: 1:09:00

KEY TAKEAWAYS:

There was a massive gap between the students understanding and what the teacher was speaking on. People were in the halls asking each other if they understood what was going on and no one had a clue. Many of these kids were confused as hell and had an empty notebook. Not because they weren’t trying to be engaged in the class. They weren’t sitting there texting but they did not know what was even relevant information. The teacher thoroughly enjoyed speaking about himself, just telling stories about his glory days in business. In many situations the teacher can’t even truly identify what the student needs at this level. This creates an even greater disconnect because the professor wants to, in a way, brag about his accomplishments in business, thus making everything sound unnecessarily complex. It may well be the case that the professor has been out of the business world for 20+ years and they simply don’t understand the current landscape. The landscape changes constantly and many of the professors, by no fault of their own simply cannot keep up with the changes because they are not in it. Every part of business education begins with real world experience. Whether you have a college degree or not, the understanding that you need to go out into the world and hustle is the most important thing. The piece of paper does not mean shit if you lack an understanding of business or are missing that gritty understanding that you need to work your ass off. Everyone in college is concerned with how to get an A on the exam, rather than trying to extract as much knowledge as possible so you can carry this understanding into the real world.

When students were asked why they were in a corporate entrepreneurship class, less than 1/3 of the students spoke about wanting to start a business. If you want to bring entrepreneurship into a corporation what you’re saying is when you come up with your great idea, you aren’t confident enough to pursue it on your own. So you just want to give it away to some corporation who is paying you a mediocre salary. Have some confidence in your ideas and take some risks. When you are in true entrepreneurship, there are days where you feel like you are stuck in mud and just can’t seem to gain any traction. These are more common than the good days. So you have to understand that before you decide to be an entrepreneur. There is a huge misconception in many entrepreneurship programs, where they think it will be all fun. There many missed opportunities by the professors to explain the severity of the risk involved and the pain that is associated with building your own business.

The professor of a top tier MBA program asked the class, what a business model was and no one could answer the question. Then he responded by saying a business model is knowing your customer and knowing what they need. That is not nearly enough to encompass a business model. Your business model is the whole fucking thing. Its why you go into business in the first place. A business model is the reason you start your business. The way you figure it out is by looking around the marketplace for a need that is not being served. It is all about filling the void in the market and putting something together based on data. A business model also encompasses the style in which you bring your product or service to the marketplace.

People should be learning what the difference is between retail and direct to consumer. This kind of information will help people understand which vertical of business would best fit them. Most people don’t fully understand the difference between these two. They may in theory but there is little understanding of the pros and cons of each. In theory the understanding is there but one will work better for a particular business. Figure out what your business is, say its direct to consumer. Now what are you giving the consumer? Okay, you’re giving them supplements. Are you giving them anything else? What other products will you have? What other revenue streams are you creating? Beyond that, who is your customer? Male? Female? Low or high income? Educated or not educated? What is the age group? These are all questions that must be answered in your business model so you can figure out how your products should be marketed. You need to learn how to speak to your specific customer. In order to do this, you need to know who you are speaking to.

Many people are not being taught to develop themselves in addition to what they learn in the classroom. The teachers aren’t talking about this in the classroom. So many college students are not listening to beneficial podcasts, they aren’t spending free time reading or working on themselves. The primary concern is passing the next exam and the attitude on campuses is that as long as you are doing well in your classes then you are doing everything possible to set yourself up for the future but that is not the case at all. You can know everything about every class but if you have failed to develop yourself, you will not be able to interact with people. You will not be effective and you will not succeed. Someone needs to preach about developing the individual. A textbook has knowledge but a text book will never run a fucking company. Society tells everyone that if you come to college, the organized presentation of information to prepare them for the real world is there. Society tells us that if you take these classes and do well in them then you are ready to take on the world, but that is a fucking lie. There is so much more that goes into it. The real world does not work like the classroom. You have to figure out how to interact with people, how to make difficult decisions and how to leave your personal problems at the door and just focus on work when the time comes.

There is no such thing as a stupid question because if you feel the need to ask it then that means you have not been effectively taught the information. So it is the teacher’s job to figure out how to explain it in a better way. There is a feeling in the air of “I don’t want to look stupid”. Everyone is concerned, to some extent, with how people view them. If you go to a class, where you do not interact with the professor in some way you are failing yourself. It is rare to be in a conversation for nearly 2 hours and retain information without actively participating. The teacher oftentimes does not encourage it. They need to set the example.

In many college classes when a Q&A session is held, people will withhold questions just so they can get out of class sooner. As a teacher, you should always over deliver. Always provide more value than is expected. You have to put yourself in the other person shoes and figure out what the people truly need. If there is a class where a professor says the class is over when the questions run out, then that professor is a fuckin pussy. What he should say is, when the questions run out, I am going to ask ten random people, ten different questions to make sure everyone has retained the information. By ending class when questions are over, the teacher is contributing the problem of students not fully understanding the material.

Many employers look for experience over degrees. Or they will hire someone who has a couple years of experience over someone who is fresh out of college. Coming out of college, the best way to avoid this is to learn from someone who performs sales and marketing at a high level. You can overcome this by gaining experience through internships and taking advantage of learning opportunities. In this world you need drive to succeed. Whether you have a piece of paper or not you need drive. Take your drive somewhere you want to be, be willing to work for free and prove yourself. Let your drive take you there. Don’t expect a piece of paper to. You have to give your time. The way you close the gap is by taking chances. By going to a company and saying I will pledge my time, work for free, simply to learn.

The economy and the way the world transacts now is so different from what it was 20 years ago that it is difficult to tell people the best option after high school is college. That has been the deferred life plan for awhile now and it isn’t working for everyone. People need to step back and really think about what is best for their path. The way business is done is not the same as it was in 1990 but the prescription is still the same and its sold at a higher price.

SPONSORS

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