The Personal MBA

About the Author

Josh Kaufman, born in 1983, is the founder of The Personal MBA, an organization dedicated to teaching business principles outside the traditional academic framework. Kaufman, a Yale University graduate, has been featured in prominent publications such as Inc. Magazine, Forbes, Entrepreneur, and Fast Company. He is a nationally certified coach for pre-business students through the National Institute of Certified Coaches. Kaufman is critical of MBA programs, asserting that they are outdated and inefficient. His book, "The Personal MBA," aims to offer a practical and engaging alternative for those interested in mastering business fundamentals.

Main Idea

"The Personal MBA" by Josh Kaufman distills essential business concepts into accessible and actionable insights. The book aims to provide a comprehensive guide to business principles, enabling readers to understand and apply them without the need for formal MBA education. Kaufman emphasizes value creation, marketing, sales, value delivery, finance, understanding the human mind, working with oneself and others, and improving business systems.

Table of Contents

1. The Art and Science of Value Creation
2. Marketing for the Future
3. Sales, Sales, Sales
4. Value Delivery Made Simple
5. Mastering Finance
6. The Human Mind
7. Working with Yourself
8. Working with Others
9. Understanding, Analyzing, and Improving Systems

The Art and Science of Value Creation

Kaufman begins by defining a business as a repeatable process that creates and delivers something of value that people want or need at a price they are willing to pay. He identifies five essential components of a business:

1. Creating and delivering something of value
2. Identifying customer needs
3. Setting a price people are willing to pay
4. Meeting customer expectations
5. Ensuring the business is profitable

Value creation starts with understanding what people want or need and then creating it. Kaufman explores the process from ideation to execution, emphasizing the importance of aligning product development with actual demand.

• A startup developing a new software tool begins by identifying a common problem faced by potential users. They create a prototype, gather feedback, and iterate until the product meets user needs effectively.

“True leaders aren’t made by business schools— they make themselves, seeking out the knowledge, skills, and experiences they need to succeed.” - Josh Kaufman

Marketing for the Future

Kaufman stresses that creating value is not enough; effective marketing is crucial. He defines marketing as the process of getting people to notice and care about what you offer. Key marketing concepts include: