Why?

For Me

There isn’t really a vibesy place in Toronto to go for a nice pot of quality tea with a friend, a book or a laptop. I’d selfishly like that to exist.

A low-stakes introduction to retail/consumer businesses. Gradually build capacity to diversify away from relying on client work.

Learn about a product I already like a lot from an industry/professional standpoint

Learn how to run a business that involves multiple people in different roles

For the Design Studio

Branding/positioning tool for the studio

For what would almost certainly be a boutique studio (3-10 people), having this other business changes the calibre of spaces that would be available to us

Inspiring environment and built-in change of scenery

Event space would allow us to host, building up our reputation and hiring pipeline.

Team would have perks—in turn, they could bring in new customers via those perks

For the Market/Community

A non-intimidating place to discover tea

An accessible window into design

The “Applied MBA”

I think I may have got this from Tim Ferriss a long time ago. The basic premise is that MBAs offer a certain amount of education, but they’re really about connections, getting into the system so you’re well set for a post-graduation life of interviews with Deloitte. Rubbing shoulders and making relationships with your future vendors, suppliers and partners.

Those who plan to work for themselves or generally outside of this system, therefore, can get a headstart by taking the time and money that would usually go into an MBA and putting it into an actual business. The educational component can be supplemented by reading, seeking out advice and even attending those same university lectures. The connections can’t be recreated exactly but you can still build a network that will be more relevant to you, the solopreneur, than the MBA template typically allows.

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Ivey MBA Student Finance Calculator⁠

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If we take these 2019 numbers to be somewhat representative (I threw in a salary of $90k), an MBA costs somewhere between $83k and $237k. Even if I rounded down to $80k and then cut that in half, that’s still $40,000 to put into bootstrapping a biz. I wonder if it can’t be done with $50k?

References

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How to Create Your Own Real-World MBA⁠

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Why Tim Ferriss saved $120,000 and then planned to lose it all⁠

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The Personal MBA - Josh Kaufman⁠

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https://smcovey.com/the-applied-mba-program-details⁠

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Alternative MBA: How to Get a $150,000 Education for less $1.50⁠

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Skimmed this and not crazy about it. The guy sounds a little hot air. However, lots of resources here. I don’t think one should read 2947 business books before getting started, but knowing what there is to know can help decide what needs to be learned.

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