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Earning an MBA, especially from a top school, can come at a high cost. Even after investing in an expensive degree, you may not get the high-paying job you were hoping for – or you may decide that management isn't for you and you want to pursue a completely different career.
If you want to learn the material of an MBA program without having to pay for it, you can Create a DIY MBA curriculum. Although this approach is not foolproof, it allows you to create a customized curriculum tailored to what you want to study and helps you learn the skills you need to advance in your career.
In this article you will learn how to design your own MBA and what things you should consider before starting.
How to create your own MBA study plan
The idea of pursuing an MBA on your own terms is laid out in Josh Kaufman's book, The Personal MBA. The book gives you business education at a fraction of the cost. Even if you don't have the benefit of completing a capstone project or networking with your classmates, The Personal MBA is a great starting point for anyone looking to pursue an MBA on their own terms (heck, even his blog is a great place to start). Point).
In addition to reading this book or other business books, there are other ways you can use technology to create an MBA program.
MOOC specializations
MOOCs – or Massive Open Online Courses – are low-cost courses offered on platforms such as Coursera and EdX. You can enroll in the same courses you would take at a business school (without the price tag) at top institutions like the Wharton School at the University of Pennsylvania.
Instead of a degree, MOOC platforms offer certifications. For example, Coursera has a Business Foundations specialization that you can complete online at your own pace. Instead of paying tuition fees, you can enroll in a MOOC specialization for free and pay a monthly fee to complete the curriculum. The faster you progress through the content, the lower the overall cost.
You can also curate a variety of business courses from different universities for a comprehensive online MBA experience. This is an example of a curriculum you can follow to mimic the courses of an elite MBA program. This approach not only gives you access to courses offered by Ivy League schools here in the United States, but it also allows you to take courses from top instructors at universities around the world.
ChatGPT
Another approach to consider is using new technologies such as artificial intelligence to create a customized curriculum. I personally did this to create my own curriculum for a Masters in Economics:
You can create your own prompt for ChatGPT to develop for you a business school course list, a syllabus for each course, and the concepts you need to cover in each course. By creating your own curriculum in this way, you can not only ask ChatGPT to recommend books to read, but you can also incorporate other learning media such as podcasts and YouTube videos into your curriculum.
This can be a useful approach for students who want an innovative approach to learning that is not currently offered in traditional business school programs.
DIY take-home MBA courses
When creating your own MBA study plan, you want to make sure you cover the basics. These are some courses you should include in your DIY MBA curriculum:
- Financial accounting
- Corporate financing
- Macro and microeconomics
- management
- Organizational behavior
- guide
- marketing
Once you've covered your basics, you can add electives. Elective courses can help you specialize in coursework that is more closely related to your career field. This can include topics such as:
- Entrepreneurship
- Non-profit management
- Social influence
- Technology and Ethics
To round off your studies, you can optionally complete a degree. This can be unpaid freelance work for a client to solve a specific problem. Many small businesses need help but can't always afford to hire an expensive MBA graduate to do the work for them. You'll be able to put your new MBA skills to the test while solving a real problem for a real company in your community.
Related: Are MBAs worth it?
How to build a network without enrolling in an MBA program
One of the biggest disadvantages of studying an MBA on your own is that you don't have to take courses with other students. The coursework covered in a traditional MBA program is only half as valuable. Many students enroll in top programs because of the network and status that elite schools confer.
In fact, around 10% of Fortune 500 CEOs come from elite Ivy League MBA programs (but know that many of these CEOs also earned their MBA when they were already at or near C-suite level and already above had some solid networks of their own). . While attending an elite MBA program doesn't guarantee you'll get a great job, it certainly helps.
If you study alone, you will not have access to the network of students in your MBA class. But that doesn't mean you can't build a network. Instead, look for networking events for startup founders, entrepreneurs, and business professionals in your community. Eventbrite and MeetUp are two places you can look for it.
You can also join professional associations. Toastmasters, Rotary, and groups within your chamber of commerce are some good places to start.
Finally, you shouldn't limit yourself to where you live. It's now easier than ever to join online communities. Build your digital network on LinkedIn and schedule Zoom coffee dates. Many professionals will be happy to contact you, even if they are not based in your area.
Related:
MBA Admissions Guide: What You Need to Know
Final thoughts
Studying an MBA on your own can be a good alternative to an expensive MBA course at a top university. You can create a customized curriculum that allows you to learn on your own terms. If you decide it's not right for you, you can easily give up on the DIY MBA degree and move on to something else.
However, this approach is not for everyone. Aside from not having access to a robust personal network, completing your own MBA degree requires a lot of discipline. You may have the best intentions to complete the coursework, but if you don't treat it like a class and allow time to complete the material, you will never complete it.
A DIY MBA is not a replacement for a real MBA and does not come with a diploma, but can be a cost-effective alternative for a disciplined student. You also don't have to apply to a program and wait for admission. If you want, you can get started right away.
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
