The Personal MBA!

About the Book

The world-famous book ''The Personal MBA: Master the Art of Business'' was written by great author ''Josh Kaufman''.This book tells us about business secrets while we have not learned in B-Schools. The total number of pages in this book is 464.

Review of The Book

Hello Guys, I hope you're doing absolutely fine. Today I'm gonna tell you some business secrets to start a new business and if you're already doing business so these secrets will help you make it big.

When Josh Kaufman completed his study which was related to the technical field Then, He got a golden opportunity to work in Billion $ company "P&G" and he grabbed that opportunity and started working there. 

When He started working there with his team who passed out MBA from great colleges, he realized one important thing.
He got to know to do business and We should have knowledge about Marketing skills Business skills.

So, He decided to learn that skill but he did not even know one thing about business because he completed his studies with a technical field.

And he decided to go to a big college, like their team and do an MBA but after doing some research and analysis, He got to know college gives only ''Name education just for Degree''.

According to Josh Kaufman, that was a waste of time.

So, he chose a better way to learn business skills, which was ''Self-Education'', So he went to a library and started reading all the business books about business.
After some days he read 100+ books about business.

So mow, He gained more knowledge than B-School Colleague & Professor.

While reading Business books, he got one more interesting thing that was ''All important information was repeating in every book''.

According to the 80/20 principle, that was 20% knowledge while it will give us 80% Result.

And he gathered that knowledge and wrote one book whose name is ''The Personal MBA''.

After gaining knowledge from 100+ books. Josh Kaufman divided that knowledge into 5 categories.

1. Value Creation

To be good at this category, We should always ask one question to ourselves, ''Is our product creating good value for others or not''.

Because business rules say, ''More value = More result''

Ex. You can't earn that much money after opening grocery while Bill Gates has earned Because you will create lesser value, but Bill Gates created greater value for every human after making Microsoft. 

In short, If you create more value your product will make more money for you.

2. Marketing

Research has shown that companies spend more than 15 Billion $ for just Marketing their product every year.

Marketing really plays a big role in selling our product.

Peter Thier who was the founder of PayPal says, ''we can sell bad products by good marketing but we can't do opposite of this''.

And the reason is also obvious If you have made the best product and you don't tell anyone so how people will buy your product?
That's why It's really important to tell about the product to people and always do marketing to target people.

3. Sales

After marketing, the really important thing is ''Sales''.

and business rules says, ''People won't buy unless they believe/trust you''.

Ex. If you are in an unknown city and also you're hungry, After searching somewhere, you get two shops.  ChaiWala was written in the first shop while McDonald's was written in the second shop.
So in which shop, would you like to go?
Of course! ''McDonald's'' because you believe in McDonald's, your trust in McDonald's.

So, If you want your business to become big so you'll have to earn the trust of people and make them believe.

4. Value Delivery

After-sales, that next step is ''Value Delivery''.
Means, ''Exceeding more output than customers expectation''

Ex. if you order some product from Amazon and they say it will take 6 days to reach you.
But that product reached you in two days, so this thing will be more than your expectation and this type of thing is called ''Value Delivery''.
And this thing should be in every business because from this costumer will be Happy, Satisfied & Recommend your product to others.

5. Finance

After Value delivery, you need to focus ''Finance'' for your business.
This means you should know that you're getting profit from your business or you're not.

If you have completed 4 categories for your business but in the end, you're not getting profit, so there is no matter how good your business in all categories, but now you'll have to close your business because your business is not giving profit to you.

There are two ways to be good at Finance for business.
1. Less Expenses 
2. Create more value