What They Don't Teach in B-School: Secrets from Dr. Bob, Leann (and Dan)

Posted 3/22/10
By Dan Baldwin, TA Executive Director, 951-251-5155 email

Like many of you, I started marketing my businesses on the Internet pretty early, way back in 1997. I went through quite a few "domain name registrars" (the people you buy your URLs from) before I discovered "GoDaddy.com". It's not often that you run across the best solutions and the best service at the lowest cost but that's what GoDaddy delivers. (I know because I used several really rotten registrars before I found GoDaddy.

Anyway, I was a GoDaddy customer several years before I discovered GoDaddy was owned by a guy named Bob Parsons. Like many telecom agents and channel partners, Bob has a business degree and is a serial entrepreneur. More than anything though Bob is a consummate marketer and a self-made millionaire. If Bob has advice about running a business I'm pretty interested in hearing what he has to say.

Following is a video blog from Bob's site titled "What They Don't Teach You in Business School". I enjoyed it quite a bit & so I thought I'd share it with you with my comments below.

(0:50) Lesson 1 "Start small" - Don't go "all in" before you know your ideal is going to actually work.

(2:00) Lesson 2 "The best business partner... is no partner!" - Two head are not better than one.

(3:00) Lesson 3 "Solve your own problems!" - Mentors and outside resources don't deliver the best solution for your business.

(4:00) Lesson 4 "Don't fight fate" - Be ready to act on new and different opportunities when they arise.

(4:55) Lesson 5 "Do you feel lucky?" - Skill comes in by having the talent to spot lucky breaks when they arise.

Dan's Comments on Bob's Comments...

I certainly agree with starting small. The nice thing about all the web products that GoDaddy sells is that they allow you to basically "try out" a business before going "all out". When people see a half decent website they assume that it's connected to a real business of some sort. This lets the smart entrepreneur ensure that at least a new businesses marketing plan will work before going "all in".

I'm not sure I totally agree with this one. I know many successful telecom master agencies started out as partnerships. While I've never had a full partner, some of my best ideas started in someone else's head - I just invested what was necessary to take them to the next level. I do like being able to bounce my ideas off someone else - it's prevented me from going "all out" with a couple ideas that were really pretty stupid.

I partially agree with "solve your own problems". I think a business owner really needs to try to solve their most vexing problems first - it's the only way to appreciate the ultimate solution. But some things are better left to people who've "already solved" your exact problem. While I paid over $6,000 to have someone else design my first business web site back in 1997, I made many times that in a short period of time because I hit the market first. Has I struggled to create my own website myself I would likely have missed the market. (I do all my own website now though.)

I fully believe that those that are "best prepared" get the best luck and recognize fate. I spend maybe half my time watching the world around me and soliciting the opinion of others to be able to predict "what will happen next". Fortunately that's caused me to be correct 51% of the time I've needed to be right.

My Own "Lessons Learned"?

Even though I have a business degree and a marketing major - I'm not sure I learned one thing in my college business classes that have served me well since I graduated in 1985. I suspect that if I'd have majored in accounting instead of marketing I'd be a lot richer today.

Never Stop Selling to Customers

When I get too involved in "running my business" that I can't personally sell to new and existing customers my sales always drop off. Even if you only spend an hour a day cold calling, proposing and closing deals (and beating your competitors) it's the only way I know to keep abreast of the knowledge that will really make a difference in having your company succeed.

The only true source of power in the telecom and technology industry is the ability to start tomorrow without a penny to your name but still be able to cold call and close sales.

What are your thoughts? What do you wish you would have learned in business school?

Let us know your comments!

Posted 3/19/2010 by: