I get asked a lot - is an MBA worth doing today? My answer is usually plain and simple - you are asking the right question!
Was my MBA worth it? My one-year full-time UCT Graduate School of Business MBA (2014) really took me until 2019 to complete.
Why is that? To get the full worth out of the MBA experience I knew I wanted to gain some corporate leadership and some sales experience. I did an MBA because it would allow me to experiment. I knew that to achieve my long-term objective of launching and scaling my own start-up I could not follow a conventional career path.
I graduated on time in 1 year and took the perfect opportunity to launch my career experimentation. I felt like I needed to get stuck into a corporate executive role to show that I could lead a team off the back of the MBA. I was not looking for the perfect industry, location or salary.
A quick aside on why I think experimentation is so important. One of my favorite books is “That Will Never Work” by Marc Randolph the co-founder and first CEO of Netflix. Marc explains how Netflix was in a precarious position so they decided to unleash all their experiments all at once: no due dates, late fees, shipping or handling fees, or per-title fees! Today we have Netflix, without the courage to experiment Netflix would have been stuck with a more conventional pay-per-rental business model like the giant industry incumbent BlockBuster – who they would eventually put out of business!
My MBA gave me the chance to experiment instead of going back into the industry I came from. I led a multi-billion Rand infrastructure development project as the Commercial Director, which quickly made me realize that the smallest suppliers on my project were causing delays that could hold-up the entire project timeline. These suppliers couldn’t wait for the 90 days I took to pay them. Often going out of business.
Identifying this problem, I knew there had to be a solution. This firsthand experience I gained inside a corporate, understanding the corporate pain points and understanding what drives corporate payment terms gave me a new perspective. When I started my own business I wanted to find a way to solve this problem.
At Finvex.tech we use technology-enabled solutions to lower financing costs and improve business efficiency for corporates, their staff and their suppliers. On our mobile app staff members or suppliers can select to access immediate payment for a small discount. Our REST APIs automate the process from confirming early payments available, the request for payments and reconciliation. We unlock affordable financing options for workers and suppliers by working with corporate.
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There is no wealth like knowledge and no poverty like ignorance. Buddha