MBA Graduate Shares Top 5 Lessons From His $ 60,000 Business Degree

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Are MBAs Worth It? It depends on many factors, such as whether you have the money, the time and the willingness to commit.

In 2015, I enrolled in the University of Florida’s online MBA program, while working full time in finance. The degree cost me $ 60,000 and lasted two years, but it gave me the confidence to take business risks, improved my decision-making skills, expanded my network, and even increased my salary.

He also taught me several fascinating and valuable lessons. Here are the ones that helped me the most:

1. Contracts don’t have to be complicated

Having a contract for any business transaction you enter into can save you emotional distress and financial loss. It doesn’t matter if it’s with a close friend or family member – anything that involves some of your time and money should come with a contract.

Plus, the simple act of offering a contract is a good stress test: if the other party gives long-term reasons not to sign, you should probably move on.

Even a short, simple handwritten letter can go a long way. Here are the most essential items to include:

  1. The offer “: Something must be proposed.
  2. Taking into account”: Something has to be exchanged for it (usually money, otherwise it’s a gift or a promise, rather than a contract).
  3. An “acceptance”: Both parties must agree to the terms of the contract.
  4. The “mutuality”: Both parties must agree to the terms and understand that they have entered into a contract.
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2. The trick to persuade

The three key components of Aristotle persuasion, which I learned in my Business Writing and Negotiation course, gave me the tools and methods I needed to be successful in selling myself and convincing people. :

  1. Ethos (ethics): State your moral position and your credibility.
    Example: “I am a wife, a mother and a taxpayer. I served faithfully for 20 years on the school board. I deserve your vote for [X]. “
  2. Pathetic (emotion): Harness the emotional impact of your argument.
    Example: “My opponent wants to hurt [X] doing [X]. Imagine how frustrated you would be if [X] had to happen. “
  3. Logos (logic): Frame your message with facts, such as evidence, analogies, statistics, or even what-if scenarios.
    Example: “We don’t have enough money to pay for improvements to [X]. And without improvements, the [X] system will falter and thus hamper our economy. Therefore, we should do [X] pay for better [X]. “

3. Too many options can be a bad thing

4. Time in the market beats the pace of the market

5. How to be a better negotiator

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