Josh Kaufman: The Shocking Link Between MBA & Career Success! The Easy Hack To Making Money Whilst You Sleep!

Josh Kaufman (0:00)

So every business, from the smallest startup to the largest corporation in the world, has five fundamental parts. If you want to create a business or interviewing for your first job or interviewing for your first big promotion, understanding this is a superpower. It's so exciting and fun.

SPEAKER_2 (0:18)

Josh Kaufman, the world famous business expert, entrepreneur and bestselling author.

SPEAKER_3 (0:23)

Renowned for his practical approach to mastering business, productivity and rapid skill acquisition.

Josh Kaufman (0:30)

This is the foundation of every business plan that has or ever will exist. So step one is value creation. Find those important unmet needs and then focus on meeting those. Is this enough of a problem for you to pay money to solve it?

Steven Bartlett (0:45)

How do you find out if there's a big enough market for your idea?

Josh Kaufman (0:48)

The easiest best thing to do is to-

Steven Bartlett (0:50)

Step two then.

Josh Kaufman (0:51)

Marketing and humans have five drives. The drive to acquire, to bond, to learn, to feel, to defend. And the more drives that you hook into, the more attractive the business offer is going to be.

Steven Bartlett (1:03)

What is step three?

Josh Kaufman (1:04)

The third part of every business is the fourth part is particularly important, which is, and the fifth part is what a lot of people struggle with. But I'm here to help you. So the fifth part is.

Steven Bartlett (1:15)

Josh, the narrative out in the market is you have to do 10,000 hours to learn anything. You're telling me it's actually 20 hours is the key?

Josh Kaufman (1:21)

Yes, or 40 minutes a day for about a month.

Steven Bartlett (1:23)

So how do I do that then?

Josh Kaufman (1:25)

The best way to approach this is to start with that's the secret.

Steven Bartlett (1:31)

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Josh, why, why, why did you write a book called The Personal MBA? It's a world-class business book that sold almost a million copies so far. It's a real iconic book in the category. But why, why did you feel compelled to write that book? Because I can tell by the thickness of it, it took you a long time. So there must have been some sort of personal motivation that was pretty strong to write that book.

Josh Kaufman (2:25)

Sure, a couple of things, curiosity and persistence. And I was solving my own problem. So one of the things that happened is right after school, I got a job at a big company and I was working with a lot of people who had just graduated from top 15 business programs. I got this job straight out of undergrad. I had no idea what I was doing. And I really wanted to learn, like what are we doing here?

What is business? How does it work? What's important to know? What's not important to know? And so one of the things that I tried to do with the personal MBA and one of the reasons like how the project got started was I figured that there was a book written by a business school professor in the 1950s or something. And I just needed to go out and find that book and read that book. And then I would understand the fundamentals. Then I would understand the basics of what it is that we're all doing here. And I looked and I looked and I read and I read and I couldn't find it. And so at a certain point that I had essentially spent months reading, just going through category after category, just trying to understand for myself what businesses are, how businesses work. And at a certain point I realized like this is important to me. And there's something that should exist in the world, that for some reason doesn't exist in the world. And I think I need to be the person to make that, to do that. And so that's when the personal MBA went from just this crazy side project that I did post undergrad into essentially a second full time job, reading and research and trying to decide for myself, what are the critical parts of business? How do businesses work? How do they function? And then I decided to put that in a form that other people could read and benefit from as well.