Fellow Chicagoan / Clevelander Mark H. McCormack was once my mentor and the most powerful man in sports. He invented the Sports Marketing industry with Arnold Palmer… and just a few miles from where I was born in Cleveland a billion dollar empire was formed.
In 1984 he wrote the book on why not to get an MBA. The New York Times bestseller “What They Don’t Teach You At Harvard Business School”. It was #1 for 21 weeks.
This book became my business bible while I attended university, the gift that kept on giving. I’d sleep through Econ-201 class and wake up to read notes from my favorite street-smart executive.
While my classmates poured over micro-economic charts and data, I was starting my own publishing company with Mark H. McCormack teaching me how to negotiate, manage, sell, and communicate. In class they were talking supply and demand. MHM was talking about always giving 110% and the benefits of doing business on the golf course (and why it’s more effective than a boardroom meeting).
Now here in 2013 I’m beginning to see a movement. School is getting too expensive, and startups are becoming less costly. So let’s talk some simple Econ-Zackonomics you don’t need an MBA to understand…
- Cost of University goes up ?Less kids can afford school.
- Cost of launching a Startup goes down ?More kids can start companies.
When you mix these ingredients it’s crazy explosive. It leads to young people foregoing or dropping out of school to launch startups. And lemme tell ya, the startup costs to reach a MVP (minimum viable product) have never been easier to bootstrap.
Just about every Tech-Titan of the 1980’s dropped out of school for their startup. Bill Gates & Steve Jobs did it. Michael Dell & Larry Ellison did it. All of these men are brilliant billionaires. So was Mark H. McCormack.
Scott McNealy, founder of Sun Microsystems and his new venture Wayin, is an 80’s Tech-Titan who made an impression on me at the 1871 auditorium. He said, “Business school is the only school where you don’t do anything during your two years that you’ll do on the job…you don’t hire, fire, raise or spend money, build or sell anything. It’s like learning golf by watching a video.”
McNealy, a golf enthusiast, even tried to buy my Masters shirt during the Wayin SXSW cocktail party (unfortunately, it wasn’t for sale). As a former golf instructor, I fully agree with him. You learn by picking up the club and taking a swing, not by reading or watching others.
Now, let me pose a new-age question: is it cooler to say, "I’m at Harvard" or "I’m at a Startup"? Mark Zuckerberg, who dropped out of Harvard to launch Facebook, certainly made the latter option seem pretty cool to me.
I always envision Zuck going to Harvard bars, wearing a hoodie, talking shit to MBA students in a Boston accent, just like he’s Matt Damon straight out of Good Will Hunting…
“I dropped out and I’m worth over $13 Billion now. How do you like them apples?”
In fact, Will Hunting himself summed it up better than anyone when he told the blonde ponytail Harvard student dude:
“There are two certainties in life. One: don’t do that. And two: … you dropped a hundred-fifty grand on a freaking education you could have gotten for $1.50 in late charges at the public library.”
How about Nick D’Aloisio, a 17-year-old who just sold his startup to Yahoo! for $30 million… happened last week! Don’t expect to see him writing term papers anytime soon.
While I was down in Austin for SXSW a few weeks ago, I kept bumping into 18-25-year-olds who were dropping out of college or foregoing education altogether to pursue a startup company. I’m starting to see it happen all the time! All the cool kids are doing it.
Their professors are now: Tim Ferriss, Eric Ries, Jason Fried, Seth Godin. The list goes on.
They’re using the 4 Hour Work Week, Lean Startup, Rework & Linchpin as their textbooks. The ebook versions. The accompanying blog. The podcast. The mentor network and community forum. It all adds up to a real education.
As Mark McCormack wrote, "They still can’t teach you this at Harvard Business School."
I ended up landing one of the globally coveted non-paying internships for McCormack’s sports agency outfit one summer and eventually formed a relationship with the great businessman. I’ll never forget meeting him or the letter he sent me on IMG letterhead from the CEO’s office. I was just a kid in college.
When MHM passed away 10 years ago, I was devastated. I knew I could never work for anyone else. But McCormack left us with other books and cassettes and told us the truth about lawyers, and staying street smart in the internet age. Mark broke down his success in Success Secrets (an autographed copy came with the internship) and Getting Results for Dummies. I own and reference all of these often and think to myself "I could have never learned that in a classroom".
It’s been 29 years since 1984 when my hero Mark H. McCormack laid down the law of street smart business with "What They Don’t Teach You At Harvard Business School", and this shit is still relevant in 2013.
I’m not here to tell you to drop out or forego school. Stay-in-school, but stop learning all the time and start creating. You’ll end up learning more, and you might just become the next billionaire like MHM did. It all started with an idea and a handshake.
Hello!
I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
My career is built on a foundation of helping individuals and businesses thrive financially in an ever-changing economic landscape. At phonenumber247.com, my aim is to demystify the complex world of finance, providing clear, actionable advice that can help you navigate your financial journey with confidence. Whether it’s personal finance management, investment strategies, or understanding the nuances of market dynamics, I’m here to share insights and tools that can propel you towards your financial goals.
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