51 Things You'll Never Learn in Business School
By Brian Halligan |
(INC) I am often asked by 20-something employees at my company, HubSpot, if I would recommend that they get their MBA.
While I never flat out say no, I do offer my perspective about the
value of learning key lessons -- while getting paid -- by working at a
company that is in the process of achieving scale.
Most of these learnings are simply not possible in the classroom.
Recently, after one such conversation, I grabbed a whiteboard and
started to list the reasons.
I stopped at 51 -- I had run out of
whiteboard.
I posted the list to our internal wiki.
It is one of the most commented-on posts I've written, with many
veterans and young professionals offering their own lists and
observations. I thought I would share it here for anyone weighing such a
decision, and for managers of those employees.
My first job out of college
was at PTC (back then it was known as Parametric Technology
Corporation), a company with a few hundred employees and doing really
well at the time. I started off as secretary for the vice president of channel sales. When I left 10 years later, I was a vice president, and PTC had thousands of employees.
Because there are so few high-tech companies -- especially
in Boston, where I live -- that grow to a thousand or more, it is
incredibly hard to acquire the knowledge to actually scale up a company.
Here are just some of the things I learned firsthand or by observing:
- How important nailing hiring criteria was in scaling.
- What it felt like to manage people.
- What it felt like to make unpopular but correct promotions.
- What it felt like to bet on someone smarter than me and back them.
- What it felt like to manage and how that felt different than leading.
- What it felt like to manage managers.
- The pain of having too many layers and having a top-heavy organization.
- The pain of having too few layers and having too flat an organization.
- The pain of having high employee turnover.
- How to fix the problem of high employee turnover. (Hint: Develop your people.)
- That to keep up with growth, you are constantly reorg-ing, and I got used to dealing with that.
- I got very used to constantly running out of office space.
- I got good at dealing with international languages.
- I learned how to deal with international cultures and how to bend our culture to fit, but not turn our culture inside out.
- I got used to the process of localizing your product and company quickly.
- How to mess up an acquisition.
- How to do an acquisition right.
- How the quarterly cadence of a public company feels.
- How important making your numbers consistently is.
- How painful it is to miss your numbers when you are public.
- How to deal with the constant stress of having a number over my head for years.
- What it was like to have a crap boss.
- What it was like to have an awesome boss.
- How to deal with "imposter syndrome."
- How important good communicators were.
- How to position a product.
- What it was like to ignore the signals of disruption.
- What disruption felt like from below.
- How to win against bigger competitors.
- What it felt like to work in a crappy culture.
- When to fire someone (usually too late).
- How to fire someone.
- How not to deal with people when they leave your company.
- What it felt like to work in a field office away from headquarters.
- How important the first person I hired in every new office was.
- How to open field offices.
- How to scale field offices.
- What it felt like to be in a huge headquarters.
- What it felt like to have an office in a city versus in the suburbs.
- What it is like to work with finance people and what they cared about.
- What it is like to work with legal people and what they cared about.
- What different types of marketers did.
- How to build a direct sales organization.
- How to build a channel organization.
- What it feels like to have channel conflict.
- How to sell.
- The value of a well-designed commission plan for a sales organization.
- The downside of sticking too long with the same commission plan for a sales organization.
- To treat customers well.
- The value of a platform.
- The old marketing playbook, which enabled me to think of the new marketing playbook.
I had planned to get an MBA while I was in my 20s, but I
was learning so much at PTC that every year when it came time to do my
application, I decided not to do it. I ended up waiting until I was 37
years old to get my MBA.
The 10 years at PTC were kind of like shoots and ladders
from a career perspective. I went forward fast and then I'd stay
sideways awhile. I ended up staying for 10 years, and I'm sure glad I
did. I wouldn't have had the personal capital in my savings account to
start HubSpot, or the network to help vouch for me, or the confidence to
keep going.
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