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MBA graduate shares five of the most valuable money lessons from his $ 60,000 business degree

Is the MBA worth it? It depends on many factors like money, time, and whether you are willing to commit.

In 2015, I enrolled in the University of Florida’s online MBA program, all the while working full-time in finance. The degree cost me $ 60,000 and took me two years to complete, but it gave me the confidence to take business risks, improve my decision-making skills, expand my network and even raise my salary.

It also taught me some valuable lessons about business and money:

1. The contract does not have to be complicated

Having a contract for any commerce you do can save you from emotional distress and financial loss. It doesn’t matter if you are with close friends or family. Everything that involves time and chunks of money requires a contract.

Also, the mere act of proposing a contract is a good stress test. If you give a long-standing reason that the other person doesn’t sign, you probably need to move on.

Even short, simple handwriting can go a long way. The most important elements to include are:

  1. “Offer”: I need to provide something.
  2. “Compensation”: Something needs to be exchanged (usually money, otherwise it’s a gift or promise, not a contract).
  3. “accept”: Both parties must agree to the terms and conditions.
  4. “Interoperability”: Both sides need to agree to the terms and understand that they have signed a contract.

2. The secret of persuading

Three key elements of Aristotle’s persuasion learned in the Business Writing and Negotiation classes gave me the tools and methods I needed to sell myself and win people.

  1. ethos (Ethics): Quote your moral position and credibility.
    example: “I’m a wife, a mother, and a taxpayer. I’ve been faithfully serving the school board for 20 years. I deserve your vote. [X].. “
  2. Pathos (Emotions): Take advantage of the emotional impact of your discussion.
    example: “The other person wants to be hurt [X] By [X]..Imagine how frustrating you are [X] It was supposed to happen. “
  3. logo (Logic): Compose messages using facts such as evidence, analogies, statistics, and even fictitious scenarios.
    example: “We don’t have enough money to pay for improvement [X].. And without improvement [X] The system will decline and therefore hinder our economy.Therefore, we need to [X] Make better payments [X].. “

3. Too many options can be bad

4. Time in the market is ahead of the market timing

5. How to be a better negotiator



MBA graduate shares five of the most valuable money lessons from his $ 60,000 business degree

Source link MBA graduate shares five of the most valuable money lessons from his $ 60,000 business degree

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