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Summary & Resources:

We are all told to get a formal education as it is the only way we will make it in life. I call BS. Learn why in this episode, and find out what you should do instead.

In this episode:
Find out what I got out of my Master’s Degree
Learn why a Masters can sink your career
Find the best alternative route to a formal education.
Save yourself $20,000+ and many years of your life

Resources:
Udemy Business Courses

Episode Transcript:

Hello, this is Justin Coleman and welcome to the Master Sales Funnels podcast. This is Episode 007, and welcome. As always, I’m very glad that you’re here. Today I wanted to talk a little bit about my master’s degree. I have a Master’s Degree in Business Administration. An MBA, as it’s frequently called, which is like one of the most sought after degrees, I think, in the world maybe. I know definitely in the world of business, everybody wants to to get the Masters.

 

So they got the credentials. Specifically, my focus was entrepreneurship, because as I’ve said previously, I always kind of wanted to run my own business, do my own thing, you know, not work for other people.

 

And the message throughout my life was always, you got to go to college, you got to go to college. And then you go to community college and they’re like, well, you got to hit that four year university. You know, there’s there’s no other option for you.

 

And then you get to the four year university and every class that I took, they were preaching “you got to get a masters. Too many of you getting that four year degree, you got to get a Masters”. So life was a little busy after the four year degree, but I went online through Ashford University in the Forbes School of Business and spent two years of my life and $30,000 in debt to get a master’s degree.

 

Now, I can’t I can’t blame Ashford for the $30,000 in debt, because what happened was we were not super great with money at the time and we took out about twice what I needed to get the master’s degree just so we could pay bills. I mean, I was selling stuff to pay bills. We did that to pay bills. I remember it was such a relief to get that debt money to be able to pay the bills.

 

And, you know, the master’s degree sunk us into debt. And it took, like I said, two years of my life doing all this work. Just to get the master’s degree that everybody said that I needed and had to have to basically survive in life. Had to have that masters degree.

 

So what did I really learn from my masters? What do I still remember? And what did I get from it?

 

I remember that schooling takes a lot of time. If you already have a business going, then I don’t know if there’s a lot of reason to get a master’s degree, because if you’re already successful, I mean, it’s kind of a fallback, I guess. But having the degree was a little bit detrimental actually in job searching, which I’ll get a little more into detail about in a little bit. But mostly my take away was I never want to do formal schooling again. My dad always joked that I’d get a Ph.D. and that’s never going to happen.

 

As far as I’m concerned, you can learn what you need to learn online. I mean, go to Udemy buy a $10 business course, you’ll be fine. I learned that education is definitely you get out what you put in. You can get by with basically a 4.0 GPA and not get that much out of it. Like you get a piece of paper. That’s that’s not the point of the degree. You have to make it a point of wanting to learn, of wanting to master whatever subject you’re going for.

 

You have to have a plan. Like I’ve said previously, if you don’t have focus going in, especially your masters, I mean, you can have no focus at community college. You can have a little focus at your undergrad. But if you’re if you’re sinking money into a master’s degree, you got to have some focus. So you get out of it. What you put into it for sure.

 

In my undergrad, I got a degree in 3D animation and it was interesting and I really liked it. I mean, it was a little strenuous, but there was this kid that was in my class and he was an amazing modeler. You know, making the figures. He was an amazing rigger. You know, making the bones that go in the figure to make the figure be able to move. And he just blew everybody away because what he did was he went back to his dorm after class and he animated. That’s all he did. He didn’t have much of a social life. And I’m pretty sure he has a job in animation now. That’s what he wanted to do. He put in amazing effort and he got amazing results.

 

And what happened with me? I aced all my courses and I sucked because, you know, the system is built to, I think, allow you to succeed if you put in a decent effort. But that doesn’t mean you’re good. That doesn’t mean you’ve put in the work that needs to be done to actually do that in your life.

 

So I’m not an animator because I didn’t put the effort in. For the master’s degree, I believe that I put the effort in. But it took a lot of knowledge after the master’s degree to be able to get to where I am now. To get that focus and that that set plan for my business.

 

So from the master’s degree, what I got was, I guess, the starting mindset. Like I remember some of the business concepts and I remember, you know, how to do a couple of things.

 

But really, it was just kind of plain vanilla information about business. And again, I got all A’s. And I think what I really got out of it was the business mindset. I mean, before I was an artist that wanted to make money. I was a writer that wanted to make money. But I didn’t have the mindset needed in order to turn it into a business.

 

I feel like I’ve maybe lost a little bit of the creative side, which I’m kind of sad about. I’ve been drawing a little bit more lately, trying to get some of that back.

 

But I guess my creativity morphed because of the master’s degree in different ways. I am more creative in thinking of business strategies more than world building while writing a book. I believe that’s what I got from the master’s degree more than anything was the start of a business mindset. I probably shouldn’t have paid thirty grand for that because like I said, you can get that from courses online.

 

And like I said, Udemy has courses in business. I’m not a Udemy affiliate. Actually, I think I am. But any links you click won’t be affiliate links to Udemy unless it says otherwise. I don’t really push them as an affiliate, but I do really enjoy their courses. I mean, you can learn pretty much anything you need online for next to nothing. Even if you’re paying $300 for a massive, extensive course, it’s way cheaper than, you know, $15,000 minimum, probably for a master’s degree.

 

And the other thing I got from the master’s degree was a whole lot of heartache, honestly, in trying to apply that to the real world. I mean, there’s a lot of jokes about job listings. You know, we’ll pay you 12 bucks an hour and you have to have a bachelor’s degree. Well, it’s true. There’s a lot of that out there. And it’s ridiculous that people want the bachelors degree. They want the four year degree and whatever you’re doing, but they’re afraid of the masters degree.

 

They’re afraid that they have to pay too much to get you to work for them. So you’re not going to get a lot of the jobs that you apply for. People want to pay damn near nothing for people with a four year degree and leave it at that. Like they think that’s fine. At least in my area of the Midwest, that’s been my experience. I have firsthand knowledge of this.

 

Place I used to work, was trying to hire a developer. And what happened with them was I sat next to one of my bosses and he was letting me in a little bit on the hiring process because he wanted to show me some of the candidates. I mean, he showed other people on the team the candidates, because he wanted it, you know, everybody to kind of agree on who we should be bringing on to our team So we had a good dynamic.

 

And I had a conversation with him one day, and he said that “this guy is really good, but we can’t hire him because he has a masters and he would cost too much”. And I said, but I have a Masters. And he just kind of looked at me and he’s like, “yeah?”. Like, you know, obviously I was being underpaid and they were happy to have me because I had a Masters. They hired me before I had the Masters. So I kind of got boxed into this position where I had a masters, but they didn’t want to put me in any position that I wanted. They didn’t want to give me, you know, I mean, they couldn’t give me any raises because they were having financial issues, but they definitely didn’t want to give me any kind of promotion because they knew, or they thought, that I would cost too much.

 

Like I just wanted a little more money so I could pay down bills, you know? But that master’s degree scared them. And I know that’s been the case. Other places I put it on my resume and crickets for even jobs that were what I would consider to be decent pay per year. Like they were afraid to contact me. I got nothing. I heard nothing back from any place that I applied. And I mean, some of it might have been I wasn’t, you know, a good fit for that company or whatever.

 

But I’m sure a lot of it was people were afraid to pay me that money. And can you imagine if I had gotten a Ph.D.? You know, nobody would touch that with a ten foot pole. You’d get no job anywhere. You basically have to be a college professor, doing scientific research, or just doing your own thing. I mean, you got to know what you’re doing, because if you fall into a degree and don’t know the repercussions, that’s what’s going to happen, is you’re going to find these fallouts too late.

 

If you have a master’s degree right now and you’re having a hard time finding work, do a little test. Take it off of some of your resumes and submit it and see if you get phone calls, because that’s been my experience.

 

So I guess to summarize the whole formal schooling thing, I mean, it’s OK if you have a plan. I believe it’s a big racket, honestly, to get your money, or at least it’s an outdated way to get your education.

 

If you’re planning on going into business for yourself, educate yourself online. Honestly, an MBA with a focus in Entrepreneurship shouldn’t exist. Because that’s a degree saying that “I want to learn things and I want to work for myself”. If you want to work for yourself, go learn online. I know I’ve said that like six times, but it’s true. I’m saving you, you know, $25,000. Go spend $5,000 on education online. Courses from people who’ve actually made it work. Usually people who say that have courses they’re selling.

 

I don’t have a $5,000 course at this point, but, you know, someday look me up, I’ll probably have one. And if you’re just listening to this then, you know, be sure to get my $5,000 course.

 

But if you’re getting that degree in entrepreneurship and you want to work for yourself, save your money, get a small loan if you have to. Honestly, it’s another ridiculous thing, but personal loans are usually cheaper than student loans.

 

Student loans, last I checked, had like a five and a half-ish percent rate. You can get a personal loan for a jet ski for like three something percent. I mean, it’s ridiculous. Go get a personal loan for five grand and spend that on online education and start your business.

 

If you’re getting a specific degree to be a doctor where you know they’re going to require those credentials. If you’re going to be a lawyer, I mean, go to school, do the thing.

 

What I’m talking about is if you don’t know what you’re doing, or like I said, you have a specific want to do something on your own, just educate yourself. Save yourself the money. It’s going to be way better. Start for you. You don’t need the piece of paper no matter what people tell you. You don’t need the piece of paper in life, like I said, unless it’s one of those specific jobs that absolutely require it.

 

A lot of these other majors that you go into and master’s degree programs that you look at are just fluff to get your money and outdated. They still exist, because it makes money, but online education has come and you need to take advantage of that.

 

Thank you for tuning in to the Master Sales Funnels podcast today. Be sure and share with a friend who you think can benefit from my advice. If you want to check out the show notes, they will be at mastersalesfunnels.com/007.

 

Again, thank you for listening and as always, keep funneling.

 

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