My Alt Mba: Creating the education I want and need for a fraction of the cost (1)

The key idea I keep thinking about is being at a crossroads. The idea came up in conversation with my supervisor yesterday. I openly told her that I feel like I'm at a crossroads of academic and program-driven work. She asked me to spend twenty minutes telling her what I am interested in. In the end she said, "You seem more passionate about the business-oriented work." It's compelling how others can sometimes see what is difficult for us to see.

What I didn't explain further to my supervisor is that I have a curiosity and continued attraction to own a business. I am self-motivated and do not worry about waking up and not having someone tell me what to do. On the contrary, I would love the freedom to pursue ideas, be more creative in my work, and build more relationships without worry of bureaucracy or stepping on toes.

The goal that I want to pursue through this Catalyst class is to use my current position plus outside resources to prepare myself to be a future business-owner- now. My idea is to use this class to create my own alternate MBA- a personally created and curated program to fill my skill gaps, build relationships, and fine-tune my business concept, while continuing to build my personal and family savings.

Two primary conditions to this program:

1) I will not go into major debt for this process. I will spend no more than $5,000 for this "program". My resources could include in-person or online courses, conferences, meetings with friends and acquaintances, or books.

2) I will not use my studies as a shield to hide behind. I will continue to pursue new, challenging projects and explore areas I am interested in. I will not use the pursuit of more education as an excuse for not striving for my goals.

I will use the month of May 2016 to create my curriculum while taking the Catalyst course. The program will run from July 2016-July 2017. The assessment period and investigation of resources and classes will take place between May and June 2016.

Some components I will create in May and June:

1) A pre-assessment: What skills are needed for entrepreneurship? The primary areas that come to mind include marketing, financial, managerial, communications (social media and promotional), and strategic planning. I will assess myself and think about my skill gaps. I will ask at least one person to assess me objectively and help me think about areas where I may need to build skills.

2) I will investigate free or low cost education courses to build my skills. I will determine the timing of these courses, and how I would fit these commitments into my schedule.

In addition to my course work, I will also meet with an entrepreneur either in-person or virtually at least once a month. I will use these meetings to learn about skills I may need, business lines I may pursue, and pros or cons of different models, such as franchising. I will intentionally meet with a wide range of entrepreneurs and employees of companies with leadership responsibilities. Some ideas include: owners of gyms or wellness centers, franchise owners, or leaders of health organizations.

I will also identify at least one mentor who can help me consider my career path and provide feedback throughout the one-year course.

I will measure success based on progress after the pre-assessment and completion of the courses or individually led training opportunities.

I am excited about this opportunity because:

1) It would engage me in my current position to learn from my co-workers and current and potential projects (grant writing/contract preparation).

2) This course would build my skills and knowledge. I truly enjoy learning and this would feed my curiosity.

3) I think it's possible to gain the skills I want and need without spending a fortune. 

Obstacles that I will need to overcome:

1) The cost. Even though it will be a fraction of the cost of a traditional program, I don't want the cost to hold me back.

2) Other activities could distract me. Summer is coming up and I don't want to be distracted from pursuing this goal. Because I am not required to do this, I will need to maintain my personal motivation to keep going. 

3) Individuals to meet with. (I am less worried about this as I have a good network already and confidence that others will suggest people I should meet with too.)

Now Catalyst classmates, I am ready for your ideas. Where are the holes in my plan? Do you have suggestions? Thanks for reading.

-------
Reflective Script:
Wow Catalyst classmates! Thank you for giving me so much to think about and challenge me. I feel like I'm in a bit of a conundrum. A couple of you have given me a big idea to think about: starting a small business now. A lot of resistance comes up with this idea: what business would I start? what competitive advantage/new idea/gap would I fill? what about my free time? My weekends and evenings are open for fun and free time so there is part of me that hesitates to give that up. I know that I am not in a position to hang up my shingle and my day job. I feel strongly that running a small business (at least at this point) would be on the side. I do have one idea but I would want to vet it. I also wonder if I want to do something bigger or different. In the past when I had my own business working as a personal trainer, my income was limited to the hours I worked and my schedule was dependent on when clients wanted to meet with me. While I really like direct service, I would like to come up with an idea that is less dependent on me delivering all of the services. 

So for now, what's next? I still think there is value of preparation, saving money, and building my skills in preparation for a business down the line. I also see the value of getting out there and starting a side project. I am interested in meeting others that could be interested in working together. Maybe there are people here in this class?