'The Personal MBA' by Josh Kaufman — Making Good: Small Business Podcast

Feb 19

Feb 19 The Personal MBA [Making Good Book Club]

We’re back with another Making Good Book Club episode, and this time, we tackled The Personal MBA by Josh Kaufman. And when I say tackled, I mean wrestled—because this book is a beast! 📚

If you’ve ever wondered whether you really need an expensive business degree to succeed as an entrepreneur, this book is for you. The Personal MBA distills key business principles into one massive, information-packed resource. In this episode, Charelle and I break it down, pulling out the insights most relevant to small business owners.

In this episode, we discuss:

✅ Why an MBA might not be necessary—and what you need to know instead
✅ The five key areas of every business: value creation, marketing, sales, value delivery, and finance
✅ How to evaluate your market before jumping in
✅ Understanding the core human drives that influence buying behavior
✅ The difference between marketing and sales (and why you need both)
✅ How to overcome common barriers to purchase
…and so much more!

💡 Key Takeaways:

1️⃣ Business doesn’t have to be complicated. Every business boils down to five fundamental areas: value creation, marketing, sales, value delivery, and finance. Mastering these can take you further than an MBA.
2️⃣ Not all markets are created equal. Before diving in, ask yourself key questions about market size, urgency, and pricing potential.
3️⃣ Marketing = attention, sales = conversion. Marketing gets you noticed; sales seals the deal. You need both to succeed.
4️⃣ Risk reversal increases trust. Offering guarantees, refunds, or free trials can reduce customers’ hesitation and increase conversions.
5️⃣ Expectation setting is everything. Exceeding expectations is easier when you set realistic ones in the first place.

We mentioned: