Harsh Realities Business Schools Fail to Teach!

Introduction

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Just imagine today is your first day at Harvard University with a Business Management degree.

What will be the first thing you will expect to achieve after completing this course?

Owning and big mansion and a few Lamborghini?

Beautiful ladies looking for an opportunity to be in your company? 

Life will be set. 

You need to keep breathing, stay alive, and enjoy your time on this planet!! 

But wait…

In this article, we are about to burst your bubble.

We feel like everybody’s been going super strong these past few months, and we want you to know we’re proud of you!

To keep this momentum, today, we’ll look at things people don’t learn, even in the most sophisticated financial institutions. 

We’ve learned more by studying successful people than the outdated strategies and concepts we’ve learned during business school. 

After running multiple businesses for a decade now, we’ve put together a list of things we found super valuable, no matter if you’re an entrepreneur or a high-achieving employee.

Here are the few things Business Schools don’t teach you but make all the difference in life.

Why do we say this?

How many professors in these elite Business Schools owned or started Multi-Billion Dollars Business? 

Did the esteemed professors have sleepless nights regarding cut-throat competition in the Global Market, where hundreds of souls waiting for you to fall so they can take your place? 

How many of them started a business from scratch and then sold them for Multi-Million or Billion Dollars deals? 

 

So, in this article, we will try to expose the loopholes in the Overhyped Education System of Elite Business School of the World. 

So, without wasting any time, let’s dive into the topic, “Harsh Realities Business Schools Fail to Teach!“.

When to “Shut Up” and how to say “NO.” 

This is part of social finance. 

Some people can’t read people and don’t teach you how to do it in business school.  

Knowing when to shut up is sometimes worth millions of dollars. 

The more sophisticated you become, the less you feel the need to speak constantly, despite having nothing to say. 

As Will Roger says- “Never miss a good opportunity to shut up!“.

If you’re talking, value isn’t coming in; it’s going out. 

The exact opposite happens when you listen.

The second part of this point has to do with saying NO. 

Every time you say YES to something you don’t like, you’re saying NO to something you do.

Who cares if they get offended? 

Who cares if they don’t like you? 

People will try to make themselves happy or successful at your expense! 

It’s up to you to determine whether you’re willing to make the trade.

You only learn many lessons in the real world because they come from experience, not strategies.

But, with that said, there are some valuable concepts that the elites get to learn in these high-profile institutions that are foreign to most street-smart entrepreneurs. 

But that’s the article for another time. 

Business plans change quickly! 

Although they mentioned pivoting as an option, they never tell you how quickly the market changes, mainly because the university curriculum is highly conservative. 

In early 2020, the world was severely hit by the coronavirus pandemic. 

The whole global economy came down, crashing to the bottom-most limit in history. 

Do these Business schools teach you how to survive these unpredictable scenarios? 

To understand this problem firsthand, please watch the video on the Global Economy crash by Economist.

It’s exceedingly challenging to create a new curriculum every four years, especially now with new platforms and technologies coming to the market quickly. 

If you want to be a success today, you need to learn to build the parachute while falling, and once you’re close to the ground, redesign it into a car or a boat, depending on what’s waiting for you. 

There’s no longer a linear path to success. You need to move quickly.

We live in a time when people need to reinvent themselves constantly. 

The old skills will need to be adjusted and used together with new ones if you want a competitive advantage. 

They always ask you to write a business plan on how the business will do over the next five years in business school.

We have with this that we’ve never met a single entrepreneur whose business plan was flawless from the get-go. 

The biggest problems we identified with business plans are the following: –

• You don’t understand the market.
• You don’t understand the customer.
• You don’t understand the total cost needed to get to where you want to go.
• And all of this is because you don’t know what you don’t know!

Instead, we recommend you use what’s called a Napkin plan. Your entire business should fit on a napkin as mentioned below: –

• What do you do?
• How do you make money?
• How do you attract customers?
• Who builds the product or service, and how much does it cost to do it?
• What’s your competitive advantage?

These five questions are the fundamental parts of any business. Everything else is built around these. 

You don’t need fancy business plans. You need to get to work.

Your “Bank Account” is more significant than your “Business Degree”!

Think about a scenario. 

Suppose you see one gentleman with a Havard University Degree riding a lower-end SUV and a second gentleman without a fancy Business School Degree coming out of Lamborghini. Who will you get attracted to?

Business is not like being a doctor or a lawyer. 

The sole purpose of a business degree is to prove that you’re good at business; fortunately, we have a straight and effortless way to measure this.

How much money is in your bank account?

Nobody cares how many awards, diplomas, or pitch competitions you win. It all boils down to this.

How well is the business doing?

How much money you’re making?

How much of an impact do you have?

There’s no such thing as a business degree if you’re going to be an entrepreneur. 

For employees, it’s a different story. 

An MBA increases your salary, but if you want to build your own business, it all boils down to that bottom line, i.e. money.

Fortunately for everyone, the Internet is completely revolutionizing education. 

This is the best time in history; along with you, tens of thousands of people are reading this article. This is free value. 

YouTube is filled with tutorials on any subject you want to learn and comprehend.

We talk about… How to live the beautiful and prosperous life others are talking about?

How to be a great makeup artist?

How to use Photoshop or Excel?

You’ve been blessed with this opportunity where valuable information is free. 

Nobody is keeping the secrets of success from you. It all comes down to whether you’re going to be lazy, and after reading this article… Go binge-watch some TV series or put in the 5 minutes of work needed to get the ball rolling?

So, what’s it going to be? Netflix or the first step to something bigger?

If you chose the second option, please write big in the comments, so we know you’ve made it this far and will keep it ongoing.

Business is built on relationships.

Every big business deal has come up because of a previously built relationship. 

People try different suppliers, partners, and networks but stick with the one they most vibe with.

Hiring people is also about relationships. 

You’ll see this person every day of the workweek shortly.

Despite the hefty tuition fees they offer, they don’t teach you how to build a network of valuable contacts effectively.

Instead, they rely on you to figure it out for yourself. 

To keep it a hundred with you guys, there’s a significant benefit to attending high-profile business schools, and you’re surrounded by people who are as driven as you are.

Making it a perfect environment to build friendships will eventually lead to business relationships. 

There is even business favouritism between people who went to the same colleges. 

Getting back to the main point, business is overwhelmingly relationship-driven internally and externally. 

Sometimes relationships end up being more valuable than the technical aspects.

Office Politics is Not Taught in Business Schools

No university teaches you how to navigate the complex world of office politics. 

Who agrees with who?

Who’s neutral?

How to deal with the lazy but entitled manager? And so on.

You’re walking on a skinny layer of ice, and you’re doing it constantly, plus it’s a massive time waster. 

We have the numbers to back it up.

1 in 2 employees thinks that office politics take away their productivity and are among the top ten stressors in the workplace. 

2 in 3 think they would get a lot more work done if co-workers quit by to chat. 

1 in 4 complains that they spend more time in meetings than doing actual work. 

It sucks when the reward for doing your job well is finishing other people’s work because they were unable to.

The better you understand social dynamics, work and rewards according to productivity, your organization will do better.

Data is as necessary as the customer.

Many businesses rely on data to improve their efficiency and increase their profits.

Don’t get us wrong… 

We love numbers.

Numbers don’t lie.

They’re straightforward, and they hold no punches. 

Yet, if we were to start relying only on numbers to grow our website, every single thumbnail would include an almost naked hot girl next to a guy and a big red arrow pointing at it, you know, the type. 

To keep this article advertiser-friendly, we’ll go back to market research and know your customers.

Data has the power to show you how people behave in the past.

While talking to your customers gives you some insights into how your customers might behave in the future. 

There’s nothing more important for the survival of a business than to see where the world is going, not where the world has been.

Get the data, measure it, and improve based on it. But make sure to have the vision necessary to adjust for the future.

As a boss, you set the standard.

To keep it honest with you, leadership and leading people are taught in business school, but more from a managerial perspective. 

Like how to optimize the workflow of your employees to get the most productivity out of them without them quitting while also delivering a soothing working environment.

Although you can cultivate leadership, it must come from within. 

People are inspired by your actions, not by what you say you’ll do. 

It’s rooted so deep in your biology that you can see it most clearly in little kids who choose to mimic their parents and now follow the advice that they give. 

As the boss, you set the standards.

If the company’s mission is good and you feel like you’re doing valuable work, it’s hard not to be productive.

Let’s take Elon Musk and Tesla, for example-

In times of crisis, Elon slept on the factory floor to oversee production personally. 

One of the employees said, “It’s not hard to put 80 hours in when you see Elon putting in 120“. 

If the employees see you accepting 60% of the quality is good enough, this becomes the new standard, and therefore most companies fail eventually. 

There are many books on leadership that we can recommend, but we’ll pick two for now- 

‘Good to Great by Jim Collins- is an unbelievably valuable resource for people looking for breakthroughs in their organizations.

And the second one is ‘Start with WHY by Simon Sinek.

Cultural Changes Render Business Schools Theory Useless.

There was a time when the best marketing experts in the world were doing what was considered the golden standard in marketing.

Targeting the mail as the sole breadwinner, their most valuable customer, and crafting the message toward them.

Even if it came off as entirely sexist, nobody cared.

Time goes by and culture changes rendering their approach useless and offensive today.

That’s why you see all these brands trying not to offend anyone and morphing their messages as they go along.

Why have a Good “Family Life”? 

You are incredibly demanding work, talented, and have a “gold medal” in Elite Business School’s MBA degree…

But if your married life is not satisfactory, you will never be able to catch up with your peers, who may have lesser capabilities than you but have a better-married life.

If you happen to land in Divorce Case, please be assured that most of your Prime Youth Time and hard-earned money will be wasted in fighting the long legal case to prove how idiot your spouse has been. 

Also, your case will purely depend upon the professional aptitude of the lawyer and the judge’s inclination towards Sex Discrimination.

Amazon’s Jeff Bezos had to part way with US$ 35 Billion (with a B!), along with an undisclosed amount of money, to get free from the clutches of his ex-wife.

His divorce case was the most expensive legal case ever fought on this planet, to make his ex-wife the world’s 5th richest man overnight!

Just imagine the amount of fee charged by the lawyers on both sides!

Now the entire world knows about his wife’s contribution to building the World’s Online Market from scratch.

Please understand that… after marriage, your spouse is the first person you see in the morning and the last before you sleep.

Now, if you don’t like your spouse only, there are exceedingly high chances that YOU WILL BE LESS ENTHUSIASTIC IN OFFICE.

You will spend most of the time wondering what you are losing in life due to troubled marriage.

If you are sexually unsatisfied with your spouse, then there is every chance that you will get physically attracted to opposite-sex colleagues in the office.

Remember Biological Clock? 

When you stop thinking from your head and start taking office decisions with your middle part, you WILL NEVER BE ABLE TO MAKE IT TO the TOP.

Team Explicit Wealth has compiled some hard-hitting facts about love and marriage, like Sleep with a Stranger? Arrange Marriage! Part 1 and Part 2. Abused but survived! Harsh Truth About Relationships! 

Moral of the story. Marry the person you love. Love the person you marry!! Grow rich together!!

Nobody cares that you tried.

Here’s something that will hit you like a sack of potatoes. 

The world is result-oriented. 

It doesn’t care about attempts. 

It only cares about what gets done.

Simply put, the world doesn’t care how hard you try. You’re the only one. 

Effort gets recognized only once it materializes into something tangible. 

Therefore, nobody cares about what you plan to do, the book you plan to write, and the trips you plan to take. 

We were all super busy, and nobody got time for that wishful of yours. 

In school, you get praised for your attempts… While in business, if all you do is just an attempt, you’ll quickly go bankrupt. 

There are no participation trophies in life.

Trained Behaviour

They’ve been trying to tweak this for years to make more sense of the word, yet there is still no clear picture of why people behave the way they do.

They’ll teach you about the laws of economics, supply and demand, and price elasticity, but we’ve never learned anything about trained behaviour. 

To put it simply- “Tiny stakes keep a 2-ton elephant at bay because it worked when they were babies”. 

A trained behaviour is something society teaches you when you’re young that becomes so instilled in your identity it affects your behaviour.

Remember when Pepsi tried to introduce the Crystal cola? 

It was supposed to have the same taste but clear: Coke and Pepsi spent years teaching customers that Cola is supposed to look black or dark in colour, so no wonder the concept failed.

When KFC went to China, they had a bunch of problems:

• Their well-known slogan, “Finger licking good”, got translated to “eat your fingers off”, but this was a marketing mistake.
• The second one- was that they failed to understand how breeders raise the local chickens. When sourcing local chickens, they didn’t realize the main diet of chickens in China consists of fish—dramatically changing the taste compared to traditional U.S. poultry.

Understanding how people will react based on how they were brought up is essential. 

Their personal story, their journey, the environment that raised them, and the factors that influenced it.

Trust and Patience 

Good things take time, and good relationships need trust. Both are hard to teach because they build up because of lifelong practice. 

While both are hard to cultivate, trust is more fragile.

You can lose your patience once and recover, but if you lose trust, it’s almost impossible to return, especially where options are available everywhere. 

Even in romantic relationships- “I trust you“ is more significant than “I love you“. 

Take a moment if you need it, and you’ll suddenly realize the difference between these two. 

As for patience, here’s where things get a bit more complex. 

While patience is a virtue, time is gold. 

You must learn the distinction between when to wait and when to jump the gun.

Lifestyle Design

Nobody is teaching you how to plan your life so you become a successful individual. 

Business can be the fuel needed to take you to your desired life, but it can come at a steep price.

In business schools, they don’t mention the following aspects-

Burnout– pushing yourself too hard can have a long-lasting effect on your body and mind.

The Sacrifices- you must make how to be in the top 10% of your industry.

It would be best if you statistically doubled your efforts versus your competitors because they’re already putting in 50% more than everybody else to stay in business.

Milestone making- What is expected in your 20s might not work in your 30s—the importance of raising quality children and their impact on your life.

Life changes- How life changes with time.

These are significant parts of someone’s life, both from a personal and a professional perspective, which usually intertwine with one another. 

Our advice is for you to take a moment and break down your life by decades, and under each one, write what you consider to be the priorities of each block. 

For each decade, fill in this structure: –

1. What should most of my time go toward?
2. What am I willing to sacrifice in the process?
3. What do I get in return?

Do it right now for the next 30 years of your life; at least, you’ll have something to fall back on while making your decisions.

Creating an Impression on Someone. 

We’ve already established that having people like you is an asset. But how do you do it? 

What goes into creating a quality first impression, and why does it matter this early?

It all goes back to trust and showing the other party that you’re on their team. This rule is very much applicable in my personal life too.

Does this mean you have to wear a suit everywhere you go?

No, not necessarily, but wearing a suit when others are wearing one is a plus. 

The first impression is letting the other person know you take them and yourself seriously. 

You’re not there to waste anybody’s time, and you’re more alike to one another.

Recently we met a lovely couple who, apart from their incredible work ethic, had such an advanced social IQ that people were mesmerized by them. 

We quickly became friends, and they told us how in the early days of their business, people loved them so much they decided to invest in them. 

They now run a multi-million-dollar short-term rental company with investors from all over the world. 

They did not need to be something they were not but like.

Their social skills developed in time, allowing them to instantly connect to anyone and make a great first impression.

This skill opens doors where other people would hit a brick wall.

How to “Self-Motivate”?

A big part of success is pushing yourself forward when you don’t feel like it. 

Self-motivation is one of those ingredients that differentiate the real from the pretenders.

Because when things get tough, only a tiny portion of the population is willing to push through the pain to come out on the other side. 

Everyone else will quit and adjust. 

Despite being such an integral part of success, there isn’t a class on how to do it, mainly because the teachers have no idea how to do it themselves.

In our personal experience, there are only two things that have a real impact on your behaviour and how motivated you are: –

• A freaking good reason to get out of bed in the morning.
• Discipline- trick your body into starting to put in the work, even for a small amount of time. 

Think about it like this-

Without a burning goal inside of you, nothing is worth pursuing.

Why would you?

It would be best if you had the hunger… the desire… the need to get to a certain level to acquire the lifestyle you want, the security it’ll bring to your children and family, the opportunities you don’t have access to right now.

Why do you have to do it?

What will it mean to achieve it?

And then the parent with a self-discipline trick, we learned a while back, that’s worked miracles for us. This single trick will do wonders for your productivity if you know how to use it.

Pay close attention. 

Please do it for five minutes, whatever it is you must do, sit down, and give yourself only five minutes to focus exclusively on the task. 

After five minutes of effort toward your task, you can stop but do it for five minutes.

Here’s why this is so magical: –

Maybe you’re feeling lazy, and you’re well known for your procrastination, but if we asked you to brush only one tooth before bed and you go to the bathroom and touch the one, we asked you, would you stop after the one and then go to bed?

No, you’d keep on going.

It’s the same with everything else in life. 

People expect this wave of motivation to just come over them, and they go on a working spree… when these little pushes build up the motivation to keep going.

If you’re a writer, force yourself to write one page.

If you’re a photographer, force yourself to take five photos. 

Whatever you do, force yourself to do the smallest increment that you can do and do it poorly if you must. 

Just do it. 

Do you know why? Because one is more significant than zero.

Practice in Public.

There’s this tendency to stick to the book during university. 

For some reason, they think the theory is at least as necessary as a practice, but business is not like that. 

Business is more like sports.

If you can believe it, you don’t learn how to run from a book

You don’t build up your biceps by reading the cited sources. 

Although you might get a good workout if you keep flexing those big assess college books, they make you buy.

There’s this level of arrogance coming from academia that doesn’t always translate into the real world. 

You might have the best business plan in the world, and when you go live with the product, you realize that people don’t like it, don’t need it, or don’t like you.

Practising in public might be intimidating, but at least you get the real feedback you can get. No matter what you’re doing.

Put it out there, and people will tell you how they feel about it. 

Most of it will be complete trash. But now and then, someone will point out something valuable. 

Your job is to be able to filter through the noise.

How to Focus your Mind.

Everything that makes you, you reside between those two ears of yours. 

Everything you are and will be in life begins in your mind. 

Unfortunately for most students, even in business school, they don’t teach you how to deal with the stress caused by the life you choose. 

They don’t teach you how to focus your mind to produce creative answers that add value to your life. 

They don’t teach you how to regulate emotions and categorize your thoughts in Business schools.

Therefore 80% of successful individuals practice daily meditation in their life.

They spend tens of thousands of dollars annually on high-quality teachers that help them focus their minds on collecting golden nuggets buried deep within themselves.

A single idea can dramatically change the course of your life.

One realization can help you level up and completely alter your future.

This has been one of those things we had to figure out for ourselves and, to this day, has had one of the most considerable impacts on our personal and professional development.

Can we assume that nowadays, University Degrees are slowly getting USELESS, which will surely help you waste a significant part of your life struggling with the never-ending fight with Education loans?

Don’t believe us… Just watch the video yourself.

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For those of you who went to business school, we’re super curious to hear from you what’s the one thing they didn’t teach you in business school that you found incredibly valuable.

Please let us know in the comments below because we’ll be browsing it intensely to see your perspective on this.

Please share your story with us in the comment section below…. we will be right there with you.

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