How to decide whether to get an MBA? Just as with any complex decision, such as whether to rename a brand, you have to look at the costs and benefits but also the sacrifices and trade-offs that are hidden costs. Is the gap between where your career (or your brand name) is versus where you want it to be greater than the total cost and sacrifice of making the change?
MBA
Is there an easier way to close the gap? It’s a really simple question that’s sometimes really difficult to answer.
This video originally appeared in LinkedIn
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TRANSCRIPT:
-Hey guys, it’s Rebeca and people ask me why is Mako so stinking cute? No, they ask me if they should get MBAs. And I realized recently that the answer is similar for any kind of big decision. It’s actually the exact same analysis I go through when clients are asking about whether or not it makes sense to rebrand. It depends.
It’s all a cost/benefit analysis. There may be issues with your career currently or with your brand currently that make you question, that make you think, “I need a change.” But there’s a lot of costs involved with getting an MBA. You know, it’s expensive, it’s a lot of time, you might be stepping out of your career when maybe there are other things you could do to step up your career that aren’t as costly in time and money.
Same thing with changing a brand name. You may have baggage, especially we see this a lot with our clients that have heritage brand names. There’s some baggage, but it might be a better decision, a better strategy to say, take a heritage brand and inject it with innovation, inject it with energy through innovation, than losing the investment of all that equity by changing it entirely.
So the answer to both questions, and to really almost everything is, it depends. Think about the costs, not just the obvious ones but also maybe the hidden ones, things that you’re giving up, not just what you’re spending. Let me know what you think. Bye.
