In this summary of Joe Fairless’ article, we introduce his idea of the “thought leadership platform” as an exciting and successful tool for paying your MBA fees with ease.
Helpful for: MBA Applicants
Read Time: 10 minutes
- The average tuition fee of a top U.S. business degree ranges from $60,000 to $100,000 and sometimes higher. Online MBA degrees may be cheaper, starting at $7000 up to $120,000, however keep in mind that there are additional costs required for textbooks and supplies.
- Receiving financial aid is the most common step accepted students take in order to pay their program tuition. It’s important to remember however, that this method requires you pay back your loan balance with interest. Joe suggests a promising alternative:
What if I told you there’s a way to obtain an MBA-level education for free or, even better, while making money? This can be accomplished by creating a thought leadership platform. A thought leadership platform is an online networking tool where you produce valuable content about a specific business niche and share it with the world.
- An example of a thought leadership platform is an entrepreneur’s social media campaign efforts to promote their brand. In the same way, an MBA candidate can use the thought leadership platform to create their own educational program which will allow them to network with industry professionals.
- If thought out well and executed with a clear mission, your unique platform may be able to generate profit.
- Some ideas for a thought leadership platform are podcasts, YouTube channels and blogs. Joe recommends that the format is kept as an interview with business leaders who are experts in the industry you are interested in.
- Instead of attending lectures, by directly interviewing industry experts you are gaining valuable knowledge from individuals who are already successful and active in their respective field. Joe shares that in two years of daily interviews, he’s been a part of 700 “lessons.”
- Joe doesn’t have an MBA but has hosted a daily real estate investing podcast for around 4 years and has generated over 7 million listens from over 1400 conversations with real estate professionals. His salary from working at an ad company in New York has jumped from $30,000 to $300 million in apartment communities plus podcast sponsorship revenue.
- Start by selecting your thought leadership platform. If you are shy in front of the camera but have a clear voice, why not create a podcast? Make sure you consider who your audience is and where you will broadcast—some options are iTunes, YouTube or on your own website through WordPress.
- Stick to a firm publishing schedule. In order to gain the interest of your audience and keep it, you should publish new content either on a daily or weekly basis. Ending a blog post or video episode with a cliffhanger at the end will create suspense and make the user impatiently wait for what is to come.
- Following the format of an MBA syllabus, your content calendar should have planned content for a month in advance.
- When you are scheduling interviews, aim for finding professionals who specialize in a tight niche. This will make your content specific, relevant and interesting. You will also be able to analyze and present all segments of your chosen industry.
- You can find industry experts on social media, as well as search for established authors on Amazon.
- Be sincere when reaching out to them by explaining your purpose—the desire to expand your knowledge of the industry as well as share that information with others.
- What do you think about the thought leadership platform as a way to finance your MBA? Do you have an exciting idea for an educational blog or podcast? Share your thoughts in our forum! Your opinion matters.
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