Hi all future MBA-ers! An article came out this week that should impact how you think of your MBA. I'm sure you saw this article this week: Ma the Bumbler in The Economist (if you have been hiding under a rock all week, here is the link: http://www.economist.com/news/asia/21566657-former-heart-throb-loses-his-shine-ma-bumbler). People have mixed feelings about this article. Some feel embarrassed. Some feel angry. But mostly, people agree. The article, though, is only half correct. Here's the correct part: "Ordinary people do not find their livelihoods improving. Salaries have stagnated for a decade. The most visible impact of more open ties with China, which include a free-trade agreement, has been property speculation in anticipation of a flood of mainland money. Housing in former working-class areas on the edge of Taipei, the capital, now costs up to 40 times the average annual wage of $15,400. The number of families below the poverty line has leapt." Taiwan's economy is going down, no question. Taiwan has lost its manufacturing advantage, and has nothing to replace it with. The article is not totally correct because its not one person, or one government's fault. It is the result of changes in the world and poor policy planning over the last 20 years. And it will take 10-20 years to fix. What does this mean for you? You want to get your MBA. Excellent. But it's not enough. Plan well. There are two things you need to make sure you don't have the same problem Taiwan has: Develop your competitive advantage (assets) and your network. 1. Plan your exit. The MBA alone will not guarantee you success...or even a job. Plan NOW what you will do when you finish, and find out which assets/skills are most valuable for the industry. You need to... 2. Build your assets. Your MBA is an asset, but alone it will not earn you money. You have 2 years to build your skill sets (as simple as Excel skills, English skills, or as complicated as advanced financial modeling skills). There are a million different assets you can choose from. Choose wisely. 3. Create your network. Very, very few people know how to network properly. There are three parts to networking; a) You should network with people in a BETTER/HIGHER position than you. They should be what you want to become. b) You have to deliver VALUE to them. Solve their problems. Work for them for free. Bring them interesting news about their industry and keep the conversation going over two years c) Don't build a network when you need it. Build it BEFORE you need it. That means NOW. Start researching people at the companies you want to work for, in the cities you might move to, or in the industries you want to be a part of. In the end, your career success, and everyone else's, depends on WHAT UNIQUE AND VALUABLE ASSETS you have and WHO YOU KNOW. Start now! Message me personally at the Gatekeeper MBA Essay Facebook page if you want some articles on this topic or some tips on how to do it. Facebook: http://www.facebook.com/pages/Gatekeeper-MBA-Essay/426643690705836 --

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