If you are responsible for hiring people, someone with a master's degree in business administration might look like an attractive hire. While, "Never Hire An MBA" might be a bit extreme, I see a lot of people who overvalue an MBA. In particular, small and medium sized businesses will often try to "hire an MBA". Consider that statement. Wouldn't it seem strange to say, "I want to hire a Bachelors of Science in Computer Engineering"? A Bachelors of Science in Computer Engineering isn't a person--it is a degree. You can't hire a degree. What you really want is a software engineer or maybe a computer scientist--a person. But when it comes to the MBA degree people talk as if you can just hire … [Read more...] about Never Hire An MBA
economy
Starting a Business in a Down Economy
A friend of mine is starting a business selling Cupcake Towers. When I first heard what she was doing I thought, "Why would you want to start a business right now?" After further consideration, I realized that if you have a good product or service, now might be the best possible time to start a business. Here is why: There is less competition for workers right now so you can get good help for a reasonable cost. If you have a business idea that you can run on the side, it makes sense to start before you quit your day job. Technology has drastically reduced the cost of running a business. You can get a web store up for $20 to $40 per month (sometimes even less). If you want to … [Read more...] about Starting a Business in a Down Economy
Layoff Preparation
With knowledge of our country's current economic situation being broadcast ubiquitously across the news, it is hard to ignore the fact that the economy is slowing down. Jobs that seemed secure are now not so solid, and many employers are beginning to cut costs in any possible way they can. Unfortunately, one of the top trends seems to be downsizing with regard to personnel. Though it is always hard to deal with layoffs, there are ways to prepare for one and devise a strategic plan in case the worst happens. Recognizing the signs Though it may not always be the case, sometimes employers give unintentional information about who they are going to have to let go. Here are a few that … [Read more...] about Layoff Preparation
Protecting People From Themselves
With credit markets freezing up, I thought it might be a good time to put some money into Prosper.com--a site that lets you loan money to individuals. It seemed reasonable that if people couldn't get loans elsewhere you might be able to make a reasonable return filling the role that banks have filled in the past. Unfortunately they aren't allowing you to lend money to people. The best I can tell the SEC has decided that they need to be more tightly regulated and wants them to apply for some type of license or certification. I'm concerned that in trying to fix things the government is going to put too many regulations in place to try to protect people from themselves and in the end … [Read more...] about Protecting People From Themselves