BR: The Personal MBA By: Josh Kaufman

This is the latest in a long line of business-oriented self-help books I’ve read in here, and I thought it would just repeat the same old concepts. Not even close. This book taught me so much.

Kaufman starts by making the case that business school is overpriced and unnecessary for most people. He presents a strong argument — backed by studies — that expensive MBA programs (like Harvard or Wharton) don’t actually correlate with success. What they do give you is debt and access to elite networks. Interestingly, those studies showed that students from wealthy families tended to be more successful, regardless of their degrees. If you already come from money, you’re more likely to succeed no matter what.

With that in mind, this book is designed to teach you the core business concepts you’d learn in an MBA, but in a far more practical, affordable, and digestible way.

The book is structured as short, clear sections — almost like a glossary — with definitions, examples, and stories. Key lessons and big concepts are broken down into bite-sized pieces. It took me about two weeks to finish, and then I reread some sections while writing this report. This is definitely a book I plan to keep in my office one day as a reference.

Even though I recommend everyone in the business world read the whole book, here are a few powerful nuggets I took away:

• Basic principle of sales: Help the prospective customer understand what matters, and show them you can deliver on your promise.
  
• The three universal currencies: resources, time, and flexibility.
  
• The word decision comes from the Latin decidere, meaning “to cut off.” Every decision cuts off other options.
  
• The five core human drives (why people buy things):
  
  1. To acquire (things, power, clothes, etc.)
     
  2. To learn (books, college, skills)
     
  3. To bond (feel connection — restaurants, dating services)
     
  4. To defend (insurance, legal help, security)
     
  5. To feel (sensory pleasures — movies, sports, art)
     
• In marketing: Humans are loss-averse. They care more about losing what they already have than gaining more. So, show them what they’d lose if they don’t buy.
  
• To uncover someone’s true motivation, use the five-fold why: keep asking why? until you reach the real desire — usually something like freedom, security, or peace of mind.
  
• Instead of “time management,” focus on energy management. Work on your most important tasks when your energy is highest.
  
• When working with others, use the Golden Trifecta: Show appreciation, courtesy, and respect.
  

There’s so much more in this book — more than I can even summarize here — and I’ll need to reread it to absorb it all. This is a must-read for anyone who wants to advance their business life.

5 out of 5 stars.