Three things I’ve learnt from my MBA before I’ve even started

I’ve been doing a lot of research over the past couple of years into the advantages and disadvantages of doing an MBA. Trying to get an idea as to whether individuals within various sectors and industries had different, but correlated opinions on the topic, I segmented my research into three groups: technology and start-up companies, blue-chips and professional services firms.
In the technology and start-up realm, it seems as though the default answer to the question, “Do I need an MBA to progress my career?” was a resounding “no”. One of the most common arguments against this proposition is how much more you could learn through ‘scaling up’ within a start-up by getting more hands-on experience across the value chain without the monumental amounts of debt and the significant opportunity cost associated with doing an MBA (particularly if you travel overseas to do one). Now, obviously this doesn’t mean you should get a few friends together, start something up in your garage and after 12 months you’re set and ready to take on a C-suite role in a Fortune 500 company. I’m talking about being involved in significant growth through the scale-up phase of a given start-up. Alternatively, if you’re employed by a major technology company, rotation through the various departments of the organisation, coupled with prospective leadership opportunities, signaled a reduced need for formal education, as most of the syllabus could (theoretically) be learnt on the job and through mentors. However, if you are interested in pursuing a career in management consulting or a more generalist management role within the professional services sector, the degree seems to be held in much higher regard, and can create opportunities if the program you choose is the right fit for you and the business school is well-ranked and respected. Further, when looking at blue-chip companies from across the world, it seems as though a significant number of these organisations from a range of different industries (I mainly researched energy, manufacturing, pharmaceuticals, FMCG, automotive and luxury goods) build MBA-specific graduate programs to try and accelerate graduate MBAs through their organisations to various leadership roles in programs created specifically for those graduating from top business schools. So that’s quite encouraging to see, I guess.
Through applying an extremely critical eye to the whole process, I’ve been pleasantly surprised at how much I’ve learnt already, even before my MBA has officially started. I have been accepted into the International MBA program (IMBA) at IE Business School in Madrid and classes officially kick off this week. I have, however, been in Madrid for a month already and thought I’d share some of my learnings thus far.
1. Major life decisions are uncomfortable and confronting
I know this might be a relatively straight-forward principle, but after having set my sights on getting into a reputable MBA program and finally being accepted, I didn’t quite realise the significance of what moving overseas for 12 months to study actually meant. Being away from my son, my wife (for a period of time), my broader family and my closest friends meant moving to the opposite side of the world, far away from my comfort zone and into a ferociously competitive and intense environment where I am going to be tested to my limits. Sure that was hard, but things are only going to get harder. I am, however, looking forward to the challenge and to finding out more about myself. I asked myself so many questions before accepting my position in the course. Will it be worth the investment? If it is such a good idea, why does it feel so confronting and why is it causing anxiety? Will it live up to my expectations? What are my expectations? I’m excited to find out the answers to these questions. I’m excited to ask a few more. Taking a leap of faith is neither easy nor comfortable. That’s why it’s called a leap and not a step. And that’s why it requires faith and not conviction.
2. Diversity isn’t a tick box or a buzz word
This year’s intake includes students from 65 different countries and more than 12 major industry sectors. During one of the welcome seminars, it was proposed that a gathering of such a diverse crowd is unlikely to occur unless you’re working for, or somehow involved with an organisation like the United Nations. That’s a bold statement, but when I looked around the room and saw the badges of people’s home countries pinned to their lanyards, my first problem arose trying to figure out the origin of some of these metal pins of heritage, followed by the antagonising question of what kind of output this kind diversity was capable of creating. Everyone has a unique story about where they come from and what brought them to Madrid. Most tell their tales with pride and confidence. All of them want to grow. All want to progress. So even though our countries of origin vary so vastly, the common thread that binds us all together is our dedication to continuous personal growth and learning.
3. I don’t know much at all
I arrived in Madrid with a couple of key misconceptions. The first was that with almost a decade of experience in financial services, I’d have a relatively solid understanding of my area of expertise within my industry and broader. How wrong I was. After countless conversations over sangria, tinto verano and cerveza, I soon realised how sheltered I’d been working in one market (Australia) and one industry (financial services) for such a long time. I’d never stopped and considered how people on the other side of the world did things, or picked up the phone and tried to start a conversation with someone in an emerging market, for example, and tried to find out how they intended to expand and grow or discover some of the challenges they might face. People exist all around the world doing similar things to what I’ve been doing, only they might do it better, faster or more efficiently. They might understand their target markets better or develop simpler solutions to more complex problems. I just hadn’t asked. Second, I thought learning another language would be relatively easy. I learnt German throughout high school and at university and was lucky enough to spend quite a lot of time there. As such, I became reasonably proficient in the language and figured learning Spanish would be relatively quick and painless. Again, how wrong I was. Even after completing an intensive four-week course of Spanish language, I’m struggling. Perhaps I was misguided by the common belief that every additional language you learn (after your first foreign language) is easier than the previous one you have learnt. Even though this might be true, the principle doesn’t communicate or emphasise the actual effort required to become proficient or fluent in a foreign language. Learning by osmosis happens very rarely. The dedication required is absolute; the flexibility of the mind is essential. So, over the course of the year, I really do intend to put as much time and effort as possible into learning the Spanish language while I’m here in Madrid.
All things considered, I’ve never looked forward to starting something as much in my life. I am, however, fully aware that my enthusiasm will soon be dampened by a crushing and overwhelming workload, a lack of sleep and moments of pure delirium. However, having met the people I’ve met already, I consider myself extremely fortunate to be in such incredible company to make this year one of the best of my life. I’m learning, even before I’ve actually started.
Until next time.
