Can you run a business without an MBA? The answer is yes. Even Elon Musk thinks there are “too many MBAs running companies.” Because of societal pressure, we often think we need credentials to feel qualified, but it’s a mindset issue according to attorney Ally Lozano. She built her seven-figure law firm without an MBA and still has a personal life. Now, she wants other women to know that it’s possible. “We want to have a little bit more freedom, but then we become prisoners to our law firms,” Lozano said, “because we’re not running our business effectively.” She said to look at your business as a business and view yourself as the CEO. So where do we start?
Marketing is the first key
Start with marketing. It’s a common mistake to make a website first. But a website is for potential customers to gather more information about you. So they need to know you first! You should market on every hot platform, whether that’s Instagram, TikTok or the newest trend. People need to recognize you. If you don’t have that recognition, you don’t have a business.
How the system fails to teach business
You may wonder why Lozano advocates against MBAs when she has her law degree. It’s because she’s seen how the system failed to work for her. “I think in law school in particular, they really take your brain, mold it into this uncreative box, and send you out as little robots,” she said. “It makes us not business-minded.” Instead, it creates an elite group of educated people that can’t easily start their own venture. That’s why she wrote a book called Law Firm Business School: The MBA for Your Law Practice. It’s a resource for lawyers with an entrepreneurial spirit, and it may apply to other areas of business, too.
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