JEREMYCWILSON.COM

Considering taking a GMAT class? Concerned about funds because you’re saving the world as a social entrepreneur? Well, if that’s you, then here is a program you should apply to.  A GMAT class that’s not only free but also from one of the best instructors at the best programs I’ve seen.  Then you should take just a minute to check out Manhattan GMAT’s new offering.

Hi Everyone, just a quick note that Manhattan GMAT is has a great new program. It is offering special full tuition scholarships for up to 25 individuals who will be selected as part of Manhattan GMAT’s Social Venture Scholars program. This program provides the selected scholars with free admission into one of Manhattan GMAT’s 9-session Live Online GMAT preparation courses (a $1090 value).

The application process is simple. Please be sure to follow these instructions carefully. CLICK HERE to read more about it. Also note that the application deadline is Wednesday, February 1, 2012 and all applicants will be notified of award decisions on February 10, 2012 about one week later.

AND FINALLY —> let me also note that the instructor, Eric Caballero, is the same instructor that I took. I can’t say enough about how good of an instructor he is.  Not only smart but also good management of the materials and the classroom. He’s also a fun guy that’s easy to work with, which can be really important if you’re working really hard for a long time on the GMAT.

See below for more info on the program. And below that for another link to the website.

Good luck.

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How Do I Apply?

The application process is simple. Please be sure to follow these instructions carefully.

(1)   Write an essay explaining how you meet the 3 scholarship criteria stated above. There is no minimum or maximum length required. Keep in mind, however, that this is a competitive process and scholars will be selected based largely on essay quality and content. Be sure to demonstrate that you meet ALL THREE scholarship criteria in your essay.

(2)   Submit your materials by the application deadline, Wednesday, February 1, 2012:

Send the following in ONE EMAIL to svs@manhattangmat.com:

• Your completed essay – be sure to include your name!
• An updated resume that includes your name, email, phone number, & mailing address.
• Names of 3 references, including full contact information and a brief description of their relationship to you.
• How you heard about this scholarship opportunity. Note: This can be included in the text of your email.
• A copy of your most recent paystub (December 2011 or January 2012). Note: This can be scanned and attached to your email or faxed separately to 1-800-894-6580

Additional Details

All applicants will be notified of award decisions on February 10, 2012. Manhattan GMAT’s Social Venture Scholars 9-session course will take place according to the schedule below:

Monday nights, 8:00 - 11:00pm EST/5:00 – 8:00pm PST
February 20, 2012 – April 16, 2012
Instructors: Dan Gonzalez & Eric Caballero
Live Online in Virtual Classroom
Learn more about our Live Online courses and view a sample of the online classroom here. 

This is the ONLY course for which Social Venture Scholarships are awarded. Please apply only if you can attend this course.

The dynamic of our society is increasingly becoming defined by speed. In today’s Internet-driven economy, things happen faster than ever before. Business deals are negotiated online. CEOs get feedback real time with new media. And you can connect with people all over the globe in just seconds. As such, fortune could come and go in the blink of an eye. So it’s important to know what your goals and values are. Well, I wanted to share one Ted video that agrees with my philosophy.

I spend a fair amount of my time watching great talks on TED.  As you probably know, the premise of TED is Ideas Worth Spreading.  Well I wanted to share an idea from one of my favorite Ted videos.

The talk is given by Ric Elias, who had the interesting experience of having a front row seat on the plane that crashed into the Hudson River. He gives a short narrative of the series of events that took places before sharing the powerful words of his first lesson: It all changes in an Instant.

These words are insightful. They describe how your fortune can change. In the video, Ric Elias woke up to what matters because the possibility death. But I propose that the same concept holds true for the good things as well. And that’s what I’ll focus on here.

In the legal world, that means that your facts can often hinge on a small detail. And even when there isn’t sufficient evidence at the onset, finding one key fact can change the stakes. So in most cases, you have to work relentlessly and incessantly search for game changing facts. Ones that not only change the argument but also the outcome. Because when you do, things could all change.

Similarly in business, sometimes all you need is that one key customer or one big name funder to change the stakes. For someone to take notice and to do something big. But often, it takes a lot of time and energy to get that customer. So you have to stay focused, be optimistic, and be ready for when that day happens.

And this is also the case in politics. That you don’t know when the best time is to run or if running is even the best decision. So you have to stay involved, have the right instincts and be ready to move when the time comes. And even if it doesn’t come, you have to figure out how to serve in other ways.

The idea is that none of us knows exactly what’s next. So you have to put yourself in place to succeed by doing the right things, having the right instincts, doing the groundwork, and knowing how to seize opportunities. Because sometimes it takes a lot of little things to go right to make it, but then one day it can all change quickly.

See the short video below for the talk.

I have a few friends that are in the process starting a blog. They have a unique concept. They gave it an interesting domain name. And they’ve two very smart guys working on it. Sound like the recipe for success right? Perhaps. In fact, I’ve seen blogs like this make it big before. Blogs like Above The Law where having anonymous writers allows them to have more useful stories.  On the other hand, there’s also a lot of value to writing your name on the things.

The best way to think about it is in terms of school. When you put your name on your assignment, the pressure is on to create a better product. Because the professor will know that you turned it in, and he or she will judge your performance based on its quality. So you’re more likely to hand in a quality paper, show the professor you did the research and prove you thought about your response.

Unfortunately, today it’s easier than ever before to NOT put your name on things. We work in groups a large part of the time, so your name doesn’t always have to be attached. We work for companies whose names outshadow ours, so we don’t have to put our names on the line to do business. And on the Internet, people can say and do things without telling the world who they are, so they don’t have to be fully accountable.

The benefit of not putting your name on a blog is that if fail or people don’t like it, then no big deal, because nobody will know it was you. Likewise you can also get away with more controversial content, which can be useful for others to hear. So in some ways, this can be useful.

On the other hand, putting your name on something can be even more useful. It makes you accountable. Puts you on the hook. And gives you incentive to do better work. Because when people see your name they analyze your content and do Google searches on you. So you spend more time making it good and more efforts producing a quality products.

That’s precisely why putting your name on something works.

That’s also why I put my name on my own blog.

There is an old saying that “80% of life is showing up.” As it turns out, there are a number of similar quotes quoting numbers ranging between 75% and 90%, depending on who says it.  But either way, the idea is that showing up is one of the best things you can do to be successful in life. I propose that it’s also important in business school and in law school.

Today, showing up matters more than ever before. In the age of the Internet many people think they sending emails, writing wall posts and liking comments suffices. That it keeps them connected with friends and serves as a proxy for doing things in person.  But in my view, that’s not good enough. Particularly if you told someone that you would be there.

This is particularly important in business school, where being there really counts. In business school we have lots of events, way too many team meetings, and lots of classes that are not only in the form of lectures but also case-based sessions. Sessions that require participation. Necessitate being engaged. And need active discussion to be at their best.

You can also show up in other ways. At Kellogg specially, showing up means getting involved in clubs. Going to events. Raising your hand during a case, and not only responding but making a  point and taking a stand. Likewise it means meeting speakers after class, and getting business cards. It means sitting with new people in the public areas and meeting the person next to you in class. All things that are easy to do but that many people don’t take the effort to do.

The thing is, it’s easy not to do them. You get busy with other things. You get in the habit of not doing them. And you don’t make them priorities. But on the other hand, if you do those things, you’ll usually be pleasantly surprised. People will reciprocate. Other students will engage. You’ll learn more. And in the end, you’ll have momentum and accomplish more than you ever thought possible.

That’s what I mean by Showing Up. 

Do you plan to “Show up” on Monday? I bet your competition will.

As a student in business school surrounded by people that want to be entrepreneurs, I can’t help but think about what it takes to become the next great entrepreneur and what traits they have. I see some people doing everything they can to get in the startup game. And I see others thinking that if they can only work at a tech company, or in Silicon Valley, then that makes them an entrepreneur. But the more I think about it, I know people just as entrepreneurial but in other industries and other locations.

In addition to the traditional entrepreneurs we often think of, I meet lots of people who are very entrepreneurial but who are working in various industries. They are often working in lage companies, law firms, consulting firms, and nonprofits, all places not traditionally seen as entrepreneurial. But despite the difference in the name of their employer, these people are just as adept at playing the political game, understand how to find new ways to create value and figure out how to mobilize resources in order to create it.

Many times, these people are tasked to come up with new ventures or new products/services for their companies. And they are charged to look into the future and can see a better day at the company, even in the midst of uncertain times. As I think about it even more, a lot of them are even visionaries, just like startup founders I’ve met.

The perfect example is my old manager who currently lives and works in Boston. Aubrey was a senior executive at a Fortune company and led a practice area of the entire firm. So he was not only charged with P&L of that practice area but also with hiring and developing people, coming up with new analytical techniques, and developing the brand in the US.  He’d worked in startups before, and in Silicon Valley, but this was his new role.

And so as I reflect on the best entrepreneurs, there was no doubt that Aubrey had all the skills to be in the running – managing a good team, strong vision, and appetite for risk. He also has the ability to make things happen out of nowhere. And it occurred to me that Aubrey is an entrepreneur just like anyone else that goes to Silicon Valley. He leverages principles of entrepreneurship and does things that people in the startup ecosystem do everyday. Except he works at a big company.

Unfair or not, one bad thing about being at a big company is that it doesn’t sound as cool as being in the startup world and it usually doesn’t have the same upside in pay. On the other hand, some of the best entrepreneurs I know, actually work in big companies. Funny how that works.

Hi All. Because it’s MBA application season, I decided to crate an assorted list of MBA application tips. Depending on where you are in the process and how much research you’ve done already, then some of them may be helpful.

Without further ado, see below for the tips:

1. Visit schools. Visiting will not only help you to better understand the culture of the program but also help you choose a school if you’re fortunate enough to have lots of options in the spring.
2. Don’t think listing people’s names in your essays is going to get you admitted toa school. And don’t put a laundry list of names, because that just looks bad.
3. Make a good impression if you visit. While making a good impression won’t get you in, making a bad impression could have the opposite effect.
4. Revise your essays. Then revise again. And again. And again. Most people don’t write well enough not to do revisions.
5. In your essays, don’t use run-on sentences.
6. Count the number of times you write the word leadership, or any derivation of the word leadership, in your essays, and then likely delete some of them.
7. Count the number of times you write the word teamwork in your application in your essays, and then likely delete some of them.
8. Consider taking the GMAT again. Try scoring in the 80th percentile in both sections. If you don’t be sure to address it in the rest of the application.
9. Seek out people with backgrounds that you admire. And think about doing some of the same things they did in their careers.
10. Seek out people who recently went through the process and get advice not only on the general process but also the process for that school.
11. Let your recommenders know earlier than later that you plan to apply, that way it’s not a surprise when they have to write the letter. Though realize that most recommenders turn them in at the last minute either way.
12. In your application, you should prove that you’re employable after graduation.
13. Generally avoid applying in round three, even if you’re a competitive applicant. There are some exceptions but not many.
14. Sometimes getting advice from too many people will lead to conflicting advice. In some cases you have to take people’s advice with a grain of salt.
15. Don’t have too many essays readers. You’ll lose your own unique voice in the process.
16. Consider the STAR technique when writing. Not only will it help you organize but also ensure you talk about the things the MBA admissions committees want to hear about. Especially results.
17. Be prepared for your interview. Don’t wing it. Some people will create huge documents, dozens of pages long to prepare for any possible question that might arise.
18. On average, apply with higher grades and test scores if you are younger in age. It’s not always the case but often.
19. Answer the essay questions. Often times applicants have their own agenda and don’t answer questions fully.
20. Refine your self-image: You want your application reviewer and your interviewer to walk away with very clear picture of who you are. So be clear.
21. Ask yourself “Why?” after reading an essay or evaluating your response to a question. If the answer to “Why” is unclear, then you need to tighten up your responses.
22. Don’t come off as a know-it-all when you visit and during your interview.
23. Find friends/support groups to support you in the process. Sometimes it’s  useful to get outside advice. And it’s always useful to have support if things don’t fall go way.

That’s it, for now. I told you they were assorted. Good luck with your application.

Nobody wants to fail. Not only does failing feel bad, but often times you also feel like you’ve wasted time and energy in your pursuit. And sometimes you’ve even spent a lot of money before failing. But unfortunately failure can be a large part of life, especially in some industries and circles. In fact, some of the most successful people you’ve seen have failed a lot more than you think.

In the start-up world, conventional wisdom shows that people fail quite a bit. They have ideas for new businesses, ideas on ways to raise more money, and strategies on how to get others involved. But often times, the ideas don’t catch on, the founders can’t execute their vision, or the business model is flawed.

The same is true in business school. You have ideas about what careers you want to pursue. What clubs you want to lead. And what you want to accomplish. In some cases people come in with these ideas after months, and sometimes years, of thinking and preparation.

This is especially apparent in the recruiting season, where everyone is going for the same jobs at the same companies. Everyone going for consulting wants to work at one Bain, McKinsey or BCG. Everyone in Banking wants Morgan Stanley, Goldman Sachs, or one of the other bulge bracket firms. And in marketing, people want to work at Pepsi, Proctor and Gambel..But in the end, there are only so many spots, the competition is stiff, and you aren’t always a fit even if you are the smartest person in the process. Further, sometimes you just don’t have your best day.

So in some ways we all have to get used to failure. And some might propose that you have to become good at it. That is to say, learn to fail well and figure out how to move on and learn from it. Easier said than done? Of course. After all, when you’ve give it everything you have. put your passion into a project, and given it your all, failure can hurt. Likewise, if you’ve taken money from investors, garnered votes from your consituency and promised to change the world, you migth still feel like you owe others.

I recently stumbled across a blog named Information Arbitrage which discussed ways that you can “fail well”.

While it’s easy to say “fail well” and “try again” sometimes it can be tough. But the tips above are good. I especially like the second to last – talk to a lot of people and don’t hide. Instead get their advice and support. Feed off of positive energy and recover as quickly as possible. Then re-assess to see if you can find a way to do it again. And if you’re working on something you are passionate about, then you will.

This Michael Jordan commercial says it perfectly.

I’m often surprised by the lack of questions that people ask. It’s particularly evident at networking events when I notice that people didn’t know who to expect to show up, when they didn’t do their research on the host, and they didn’t really have an agenda. I also notice it in business school, where most people lead with answers, but not with questions. But often times I wonder if it would be a lot more beneficial to lead with questions and listen more?

I admire the approach that kids take. If you put them in a grade school class, and they start firing off questions non stop. They’re curious to learn more. They want to figure out how the world works. And they’re more than willing to admit there’s a lot they don’t know. .

Lawyers are trained to do the same thing. They are trained to have a list of questions prepared at any given moment. They are charged to investigate the facts. To get more details. And figure out the rule of law.

The same is true for journalists, who need accurate details to get to the heart of the story. Because that’s the only way they can articulate a fact based account of what happened and tell a compelling story to the audience. So they ask what happened, who was involved, and how things played out.

But this isn’t always the case in business. In business, people spend more time relying on assumptions. It’s not always a bad thing. Because sometimes time is limited and you have to take action. Leverage probability. Use your intuition. And play on the odds.

One the other hand, there are often times that questions are extremely valuable. They give you more context. They let you clarify what’s really being asked. They allow for creativity and give you access to some potentially powerful ideas.

And perhaps more importantly, they also help to give others a feeling of power. Because by asking questions, you show that it’s not just your opinion but theirs that matters. So when a manager asks for his/her employee’s ideas, the managers sends the message that the employee is valuable and has good ideas. Then the employee gains confidence and works better, and they become a stronger team.

So in the new year, we should all work on getting better at questions.  We should think more like lawyers and journalists. We should do more research, write questions down, and ask others what they think. Because more often than not, everyone is better off.

Everywhere you look today, people are talking about New Year’s resolutions. Ones they made last week and some they’re adding this week. They’re talking about how much weight they want to lose. What activities to get involved in. And how this year is going to be different from last year. But for most, New Year’s resolutions are usually a steep uphill climb. Things that most people don’t finish. Given that, I propose that it’s better to have Wildly Important Goals than resolutions.

What is a Wildy Important Goal you ask? In a recent blog post about WIGs I said I use the term WIG to describe those things that I’m most interested in pursuing.  The game changing ideas that you want to relentlessly work toward for as long as necessary. The ones that not only keep you up randomly until 3am when everyone else is sleeping but that also wake you up at 5am when the sun hasn’t risen yet. In business school, they’re the ones you skip the best party of the year to work on when everyone else is out.

In part, it’s because there’s only so much time we can bring to each commitment and that having too many resolutions will dilute” your effort. Further, having too many goals also means you’re not able to focus as well.

In a recent post by fellow blogger Erica Hawan, Erica talked about how great leaders of our time know how tofocus on what matters most. She gave the example of Jim Collins. who rejected what seemed like great career moves to go back to his hometown Boulder, Colorado and work on the sole question of ‘what makes great companies tick’ and on his books. In the end, he came up with a few masterpieces that we’ve all heard of:  Good to Great, Great By Choice, How the Mighty Fall and Why Some Companies Never Give In.

In the same spirit, I propose that it’s more important to identify game changing goals than to set resolutions where there aren’t any real consequences for not achieving them. Where there’s no real skin in the game. So find those game changing goals and pursue those relentlessly. Move the other things to the side and put a stake in the ground. Whether it’s admissions to your top school. Finding a new job. Winning a competitive fellowship. Starting a new company. Or getting involved in that game changing nonprofit.

And so that’s my challenge for you for 2012 — Clear the clutter of resolutions. Think about what matters most. Write down your Wildly Important Goals. Draw out your plan and figure out how to make it happen!

Because in the end, the best leaders know that it’s important to not only make goals … but also to make goals that are achievable and that you’re wildly passionate about.

Good luck!

Negotiations are a very important part of business.  Not only do you negotiate deals with clients and vendors but you also spend time negotiating on your own behalf. For example, we all have to negotiate our own salaries and employment terms. So many students take the core negotiations class in business school, and at Kellogg, it’s definitely one of the more popular classes. Well, recently I received a question from one of my readers asking me if there is a difference in the classes at Kellogg versus other schools.

Hi All. I recently a question from one of my readers asking me if there is a difference in the classes at Kellogg versus other schools. It’s a tough question since I haven’t taken Negotiations at any schools other than Northwestern. But I did provide as objective a response as possible. See below for the question and below that for my response.

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APPLICANT QUEESTION

Subject: Kellogg

Message Body:
Hi Jeremy,

I didn’t know Kellogg had such a strong negotiations coursework – don’t other b-schools have this as well?

Thanks!

—

MY RESPONSE

Hi (Name),

Thanks for your question. And thanks for taking time to read my blog. Below is a short answer to your question.

All established MBA programs should have a negotiations curriculum and will have a couple of Negotiations classes that you can take. No matter which school you ultimately decide to go to, much of the curriculum taught in the classroom will probably be the same. You’ll learn about concepts such as BATNA, zones of interests, mutual gain, concessions, and reservation points. And you’ll learn much of them from the same sources. The terms and tools you learn will feel like common knowledge in some ways but it’s good to talk through them a bit more and then to actually put them in practice during live negotiations with classmates.

But that’s not what makes the various MBA programs different. What makes the schools and classes different will be the other students in the classroom, the professors teaching the class, and the research the schools have done.  Sometimes these things can create a pretty big difference. And other times the differences can be marginal.

In terms of the professors and research, Kellogg fares quite well. At Kellogg, the Negotiations professors/research are part of the Management and Organizations (MORS), which is a really strong department here. Not only have they done  lot of great research but they’ve done much of it in negotiations. In part, that’s because Kellogg spends a lot of time focusing it’s curriculum on the soft skills, perhaps more than many of the other top schools. After all, keep in mind that Kellogg did pioneer the idea of incorporating teamwork in the business school curriculum, and the school is also on the cutting edge of leadership and social networks today.  In fact, even our current Dean, Dean Sally Blount, earned here PhD from Kellogg in the MORS department, and she did a lot of her research work in Negotiations.

That said, a number of other schools probably have pretty respected people in their departments as well. And you can find out about the various faculty members by looking online.

In terms of the student body, at Kellogg, the student population here is well suited for the class, on average. Not only are the students here accomplished but on average they’ve also slightly older than the students at other school. So as a result, you get a number of people that have done some negotiating in their prior careers, whether in private equity firms, banks, law firms (former lawyers), sales jobs, or in other roles. One important thing to remember is that these types of practical classes can sometimes change in quality depending on the actual students in the class.  So the better the quality of students in the class, the better off the class will be.

That said, a number of other top schools also have highly accomplished students who enroll. And in the end, it’s hard to predict where applicants get admitted, where they decide to go, and how the breakdown of ages will turn out. And even if you could predict those unpredictable tings,  you still couldn’t predict which students would decide to take a negotiations class, since that would be an elective and not a required course. And even if you could predict who might want to take the class, you couldn’t predict who would bid the right number of points to get it. So in the end, the composition of the class is nearly impossible to predict.

In the end, Kellogg’s negotiations class usually gets good reviews. It goes for a lot of points, has a couple of high profile professors, and teaches you the basics, alongside really smart classmates.  And while I haven’t taken the class elsewhere, I suspect there are at least a few other schools that would offer a similarly rewarding experience.

Good luck in your MBA pursuits!

Jeremy

—

FOLLOW-UP QUESTION

Hi Jeremy,

I have one more question – in your post regarding JD-MBA, you had mentioned Kellogg even has a minor in Negotiations? I thought B-schools dont have minors?

Do they have such minors for the 2-year program as well?

Thanks and Regards,
(Name)

—-

FOLLOW-UP RESPONSE

HI (Name)

Thanks for your question. Kellogg is one of the only schools that does have majors, so students can opt to get a major in Finance, Accounting, Marketing and Management and Organizations, among other things. http://www.kellogg.northwestern.edu/Faculty/Academics/Majors.aspx

At Kellogg, every student is expected to get at least one major to graduate. The majority of students finish Kellogg with at least two or three majors, and some students get as many as five and six.

IKellogg does not offer quite as many minors but one that is has historically offered in the Management and Organizations Department is Negotiations. http://www.kellogg.northwestern.edu/Departments/mors.aspx Any student can get this minor as well as any major regardless of what program they are part of. It’s simply a function of completing the appropriate classes.

Hope that helps.
Jeremy

As the year comes to an end, students and faculty are beginning to think about the new year. First years about recruiting which will hit them hard in just a couple of days. Second years about what they want to do after business school and how they want to spend the last few months. Admits about what schools to attend and how early to start networking. And everyone else about New Years resolutions, not just at work but also with their friends and families. Well, recently Dean Blount at Kellogg sent an email to the school wishing us a nice 2012.

Recently Dean Blount of the Kellogg School sent an email to the student body wishing us a great 2012.  See below for the email, which includes a video about what Kellogg aspires to do in 2012.

Dear Kellogg Community,

At the beginning of 2011, we set an ambitious agenda to reposition Kellogg strategically, operationally and as a brand. Now, we’re ending the year with a nearly complete strategic plan, a newly articulated brand positioning, a new organizational structure, and an architect for our global hub. Our team has prepared a video (CLICK HERE to see the video) that captures our progress.

And now as 2011 comes to a close, I would like to thank you and our entire community — for your trust in me and for your belief in Kellogg. It means a lot.

With gratitude–

Sally Blount ’92
Dean

A few quotes from the video

• We believe business can be world changing
• Its the willingness to challenge convention; challenge the status quo; to not accept that just because it’s always been done this way that, that’s the way it should be done in the future
• It’s out grounded wisdom, its our courageous and collaborative spirit, and its that pioneering vision … that’s Kellogg.
• There has to be a competitor that challenges the status quo if you really want to stay relevant to the modern world.

Issues in the Hispanic community are more important than ever before.  Over the past decade the Latino population has increased from about 35 million in 2000 to over 50 million in the 2010, according to census data I found. So not only are there more Latinos around in the US today but more Latinos are also doing great things than ever. In hopes of recognizing their achievement, the Hispanic Heritage Foundation is hosting a series of award ceremonies around the US. And in late January, one of them will be here in Chicago.

In January, a number of Latino and Latino high school students will attend the Hispanic Heritage Youth awards. Latino and Latina High School juniors across America applied to Youth Awards program, offered and presented by the Hispanic Heritage Foundation (HHF) just months ago.  And recently, the 2011 nominees were chosen.  They will be awarded their awards here in Chicago on January 28.

Recipients were selected for their accomplishments in school, in the community, and one of the six categories: Business, Community Service, Education, Engineering & Mathematics, Healthcare, and Science.  In addition to being awarded grants for college, recipients will also be invited to serve as role models for younger peers through HHF programming.

What a great program! I look forward to attending along with a few friends that I know from the foundation. I also look forward to meeting some of this year’s recipients and hopefully serving as a resource as they start thinking about attending college.

A bit more information about the foundation:

The Hispanic Heritage Foundation (HHF) is a 501c3, nonprofit which leverages programs and influential relationships to meet America’s priorities in the classroom, community and workforce for the Hispanic population. HHF provides role models, cultural pride and a promising future through public awareness campaigns and special events. Additionally, HHF was celebrating their 25 Anniversary in 2011 and is looking forward to a greater impact on the Latino community next year.

I’ll be attending this ceremony as an advisor of HHF. Specifically I help Loft (e.g. Latinos On Fast Track) with New Media. LOFT is an initiative of HHF focused on providing workforce with emerging Latino professionals. Not only does LOFT have tens of thousands of members but its also in the process of creating the LOFT social network now, which is how I got involved.

In any event, please spread the word about these awards so people you know can apply in future years. And please spread the word about the efforts that HHF is putting forth in the community. Because in the end, Hispanic residents continue to have greater and greater impact on the economy. And with the right leadership for organizations including HHF, the world will be much better off a decade from now.

Thanks for your support!

** Note that this is NOT an open event, and attendance is by invitation only.

Happy holidays everyone. I hope that you’ve been able to enjoy the holiday season so far and spend lots of time with friends and family. 2011 has been a great year for many of us, and we certainly have a lot to be thankful for.  I’m writing this message to put out a few facts about Management Leadership for Tomorrow, an organization I’m part of that also a good year in 2011. Not only did they continue to build the organization but more importantly they also helped a lot of people apply to graduate school and continue to work toward achieving more success than ever before.

In short, 2011 has been another successful year for MLT.  The organization is excited about accomplishments of fellows and alumni over the past year and looks forward to celebrating MLT’s 10th anniversary with you in 2012! Below are a few highlights from 2011 include:

• About 85% of undergraduate Fellows secured full-time jobs at graduation, compared to under 25% of all college graduates;
• Nearly 95% of MLT MBA Prep Fellows matriculated to top 25 business schools, receiving over $15M in fellowships/scholarships
• 93% of Fellows stated that participation in MLT has been a “life -changing experience;
• MLT expanded its Career Advancement Program, for mid-career professionals, to include 40 rising leaders; and
• MLT formed several new partnerships with leading organizations, including American Express, The Broad Center, Capital One, Genentech, Procter & Gamble and  Yum! Brands among others. CLICK HERE for their full list of potential partners.

In addition to that, John Rice also did well in 2011, as he was named one of Forbes Impact 30 Social Entrepreneurs.

In short, MLT is having a big impact and not just on diverse business professionals but also on business as a whole. And as a result of the success, MLT is looking forward to 2012 and continuing enhancing its engagement with fellows, alumni and the broader population next year, which will be MLTs 10th anniversary year.

Stay tuned in 2012 to hear more about what MLT is up to. And as always, don’t hesitate to drop me a line if you have any questions about MLT or any one of its programs. Happy to answer any questions you have.

Happy Holidays!

To the applicants recently admitted to Kellogg’s Class of 2014, great work. Congratulations on your acceptance! Hopefully you are excited about the opportunity to learn more about Kellogg over the upcoming weeks. As a current student, I can’t say enough about how great the MBA experience is, not only because it’s fun and you meet lots of great classmates, but also because of the professional opportunities that you’ll have available right from day one.

But don’t take it from me, take it from the entire student body at Day At Kellogg (DAK) and get a feel for the experience yourself.  My fellow classmates and I will all be around to say hello and tell you anything you want to know more about. Likewise the admissions team and student admissions committee members will be working hard to make sure the weekend and the DAK programing is seamless.

This year, DAK 1 takes place the weekend of February 9-11, and the experience is going to be priceless. And no, not just because I’ll be a DAK section leader; but also because you’ll have the chance to attend a class with professors like Hennesey and Rogers; you’ll be able to meet more current students than ever imaginable, and you’ll also get to spend the evenings in Evanston and in the city with other admitted students. And no matter what you decide to do when you’re here, be sure to stop by and say hello. I’d love to hear what options you’re considering.

Best of luck with the rest of your applications. And best of luck with your final decision.

Hi Everyone: Just passing along information about the 2012 annual BMA Conference. The 25th BMA Conference, “Standing at the Crossroads: Building on the Past to Execute for the Future,” will focus on the convergence of experiences and ideas that will enable the community to make smart decisions in their business and personal lives, and guide them down the correct path in the journey ahead. I plan to attend.  We look forward to having you join us at conference!

Hundreds of current and future business leaders joined us here at Kellogg at the 2011 BMA Conference less than one year ago. And we expect an even better turnout this year. The theme for the last year’s event was “The Real ROI: Maximizing Investments while Building Communities” and people such as John Rogers from Ariel Capital Management, Terdema Ussery, Dallas Mavericks President and CEO, Soledad O’Brien from CNN were all in attendance.

This year’s 25^thBMA Conference also will not disappoint. Fortunately, the website and registration page are now live! Likewise, the PANELS PAGE and the TRAVEL PAGE are also live. And they are being updated continually as we learn more about the event. We look forward to sharing more information with you as it becomes available.  CLICK HERE for the link to the website and CLICK HERE for the link to the Facebook page.

A number of my Kellogg classmates will be there, including me. Further, a number of Kellogg alum as well as students and alum from other business schools will be there too.

So what about you  … Are you coming?

Save the dates: 2/24 – 2/26.

It costs a fair amount of time and money to go on Kellogg’s annual Ski Trip.  But for nearly 800 Kellogg student every single year, it’s worth it. You get to have a blast with your fellow classmates right after final exams.  You get to hit the slopes on some of the coolest mountains in the United States. And you get to enjoy a number of fun activities every night with some of your best friends in business school. That’s what we did on Kellogg’s 2011 Ski Trip this past week.

As a bit of background information about the Kellogg Ski Trip: The Kellogg Ski Trip is the nation’s largest university group ski and snowboard trip across all business schools. Each year, 750 to 800 Kellogg students and significant others travel to a different ski resort, where we take over the town and create our own personal Kellogg ski community. And it’s one of the best events in all of Kellogg.

To determine who gets to go, you sign up sometime midway through the first quarter, in Mid October. The lodging signups were handled by an online website and are first come first serve. That means you have to know you want to go and sign up early before the trip sells out, which happens every year.  This year’s trip finished up in 20 minutes. And last year’s trip had so many people logging on during the first minute that the system got overloaded.

This year’s trip was in Telluride, CO. Another nice location after being in Aspen last year and in Vail the year before that. And what an incredible experience we had! Along with about 775 of my closest friends from the class of 2012 and 2013, we enjoyed a week long vacation on some of the best slopes in Colorado.

We traveled together from Evanston to Durango (or Grand Junction) and then drove to Telluride.  We formed groups between 5 and 10 and stayed in condos on the mountain with amazing views.  We hit the slopes nearly every day (I went out every single day). And in the evenings we commemorated the day of Skiing with Après Ski and then with nighttime festivities after that.  The trip as an absolute blast, which is why I went on the big ski trip both years at Kellogg.

But don’t worry, if skiing isn’t exactly your thing, there are still lots of activities for you to take part in. There are nightly theme events including the legendary 80’s party. We have daily après ski events, which were my personal favorite part of the trip. And there were daytime activities such as spa treatments, snowshoeing, food pairings, snow shoeing, and more for those people that didn’t want to spend the week skiing. And in addition to all of that, you can also just explore the city, hang out with friends at the base of the mountain, relax in your condo, or do whatever you want to do during the day. And you definitely won’t be alone.

And no matter which sets of activities people took part in, we all ended with a great comedy show and a night of dinner (and drinks for some) downtown Telluride on the last night. We rode two sets of Gondolas to get there and got to see what it’d be like to actually be a local. In fact, my group even rode down with two locals.

But unfortunately, all good things must come to an end. And just two days ago everyone headed out out. Some traveled back to Evanston on the group ticket and others took flights straight home, rather than stopping back in Chicago. But no matter which route you took, most people agree that this was definitely worthwhile. Not only because they got a chance to have as much fun as ever before but also because they got to do it with some of their best friends at Kellogg and with some of they new friends they met on the slopes.  I look forward to more times like this over the next few months in business school.

One of the most popular industries at Kellogg is the private equity industry. Not only does working in private equity offer a challenging career path but it also offers the potential to make a big paycheck. Especially for those who are good, make it to the top, and get carry at the firm. The problem is that the firms are very selective about who they hire and when they hire. So the question everyone has at Kellogg – how do you get into the private equity industry.

The private equity industry one of the hottest industries here on campus. Hordes of my MBA classmates look hard for opportunities to join top private equity firms. They start with firms such as Blackstone, KKR, and Bain Capital but explore a long list of other firms too. Some in Chicago but also lots in New York, the Bay and a myriad of other cities.

Many of the people recruiting for these jobs come from jobs in banking and private equity before school. Some work at funds over the summer. And others take Kellogg’s “Buyout Lab” class, that places them in a part time PE role for the quarter to get them more exposure and training.

In general, those who work at firms over the summer aren’t guaranteed an offer. In fact, it’s often not even an option. One girl I know never had the option. She had great performance reviews, got along well with everyone, and got stellar feedback. But in the end, she was told maybe reach back out to us next year to see where things stand.

Another guy I spoke with yesterday had to re-interview for his job, despite getting outstanding reviews for the summer. He even had to re-meet with the people that gave him the best reviews. But luckily he sealed the deal to go back full time. And a third person got a “maybe” and was asked to keep working throughout the school year to see if things worked out. So he spent 20 or so hours doing that in hopes to land a gig.

For some of these students, a Kellogg MBA ends up being their ticket into the PE world. One person I spoke with noted that their strategy was to identify connections from Kellogg (or prior firms) to specific funds and have discussions with them to see if there was a good fit with these funds. For others, Kellogg is more of a two year vacation. They have the experience and connections and now are happy for the opportunity to work less the next couple of years. After all, many of these guys were used to working 75 to 80 hours before school. And for some, it could be anything but a vacation if your job search takes longer than expected. One friend of mine got a PE job just days before the Kellogg school year ended last year.

A lot of these people tend to take a lot of the finance classes as it helps with their knowledge set, enhances their recruiting profiles, and puts them in classes with other people that have similar interests. And so as you might imagine some are also really good with Microsoft Excel.

In the end, there’s definitely a lot of buzz in the PE world. To get there, you have to learn the language (and learn Excel), take finance classes and recruit in a less traditional way than your classmates. You also have to be willing to face uncertainty and potentially not get a job offer. But on the other end of the spectrum, you could hit the jackpot and land a job where the earning potential could be limitless.

Hey Everyone, just a quick message to tell you about a food drive that’s coming up to in Chicago. It’s been going on for the past few years and my friend James from Chicago Booth is a long time volunteer. It’s been run for the past 15 years by his mentor, Bruce Hague, who is President of Commercial Lending at the PrivateBank. At the event, volunteers typically spend time starting at 6am unloading trucks of food and making food baskets for those who cannot afford to buy Christmas dinners. This year’s event will be next Saturday the 17th at 6am. Please see below for more detailed information about the event.

Below are few details about the event. Below that is a letter about volunteering. Hope to see you there.

Details:

The address of the church is 45th and Princeton, and secured parking will be provided.
Starting time is 6AM, on Saturday December the 17
My friend James Day from Chicago Booth is a long time volunteer

Letter:

For the past few years, The Private Bank and its employees have participated in raising holiday donations and collecting food for the Fellowship Missionary Baptist Church located on the south side of the city at 47th Street and the Dan Ryan Expressway. The money collected is used to purchase food and basic supplies for needy families in the community during the holiday season.

Last year we raised nearly $23,000 and received food donations in excess of $5,000. This allowed us to distribute 1,500 food packages to these families. A sample package would include various can goods, fresh fruit, potatoes and a frozen turkey. This year our goal is to raise $30,000 in cash and food donations to feed 1,600 families.

For those of you who participated last year, you know what a worthwhile experience it was to be a part of this process. Last year over 60 volunteers went down to the church at 6:00 a.m. on the day of the event, put together and delivered the packages to the homes of the recipients as well as to several shelters in the area. This is a truly rewarding experience and one where we can actively participate in giving back to our community. We would love for you to participate in this year’s event.

The date for the preparation and distribution of the food packages this year is Saturday, December 18. Participants will meet at the church beginning at 6:00 a.m. (you can come later, but need to be at the church no later than 8:00 a.m.). We should be finished by noon.

If you wish to donate funds and/or be a participant in this very worthwhile cause, please call Maureen Higgins at 312/564-1262 (x3-1262) or Adriane Schauf at (312) 564-6903 (x3-6903). Donations by check should be made payable to the Fellowship Missionary Baptist Church and sent to either Maureen or Adriane’s attention (Chicago/120 South LaSalle).

In addition, many of these families are without warm jackets, gloves, mittens or scarves for the winter months. These items of clothing are also needed and should be in good condition. New toys for children of all ages are always needed.

Thank you for your consideration.

At long last, final exams for the winter quarter/semester are finally over. For first years, it was there first time back in school taking exams again. So for many of them, it was a spring to the finish line the past few weeks. For second years, the academics were a bit easier. We took the right classes, finished a little early, and had a few extra days to relax. But either way, we both have one thing in common. At this very moment, we’re all on our way to ski trip.

Today is the start of what is going to be a great week.  As I’ve been mentioning in recent entries, the end of final exams has come, and that means that about 800 people here will be headed to Kellogg’s week long Ski Trip, which is in Telluride. And people are quite excited about the trip.

But don’t take it from me; take it from Facebook, which makes it easy to see just how excited people are. In fact, on my very first page right now, I see messages like “ski trip coming up!!!!”, “party bus to the airport…. ski trip is on”, “En route to ORD and Telluride – via party bus pumping house music. Sorry for party rocking…” were 3 of the first 5 messages on my Facebook Feed. And the next 10 are all the same. Messages such as, “I’ll pay someone to pack for me…”, “EXAMS ARE OVER!!! A week of skiing, parties, celebrations and MBA-poker up ahead in Telluride…!! #LifeAtKellogg” and many many more.  And it’s only 5am.

That’s because early in our Kellogg careers, we’re encouraged to work hard and do the best we can, which means the first quarter can be tough. So once that’s over, precisely the opposite approach comes out and people are ready to let loose and have little more fun.

First years really buy into this approach even more than second years. So they buy more ridiculous costumes for the trip. They purchase things like fog machines (which they usually can’t actually use given the altitude … silly first years). And they are preparing for the biggest party of their lives. Second years on the other hand, have a bit more realistic view of the trip. Ready not only for partying but also for skiing, and for being with out good friends again. But no matter which camp you fall into, it should be a pretty good time.

Either way, we have to get there first. From Evanston to Telluride. This morning, a few hundred people will be going with the bigger Kellogg group. So you bus to the airport and fly with the big group into Durango. Others went to CA first before flying in today. Others flew to Denver yesterday and are driving to Telluride from there. And my group, started in Bozeman Montana, drove to Salt Lake City last night, and will be headed to Telluride bright and early today. It will be a long day of travel for most but should still be worth it in the end.

Stay tuned to hear how Ski Trip goes. And in the meantime, check out this video for a sneak peak at the resort we’ll be staying at for the trip.

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Last year in Finance we spent an entire week discussing the efficient frontier. And it wasn’t the first time it came up in business school. In our MBA classes, we talk about the portfolio theory a lot.  The idea is that you can optimize the things you choose to invest in if you can figure out how to balance the risk and return. That you can think about what your tradeoffs are and make decisions possible to maximize profit. Well in some ways those same questions about tradeoffs happen here in graduate school.

In business school, I’ve come to find that a lot of people are constantly searching for that efficient frontier. The edge of the parabola where you can maximize risk and reward. The very tip of the Tangent Portfolio where you can look out over the edge and see exactly what’s happening.  In some cases you’re searching for more leverage and risk because you want to see if you maximize your profit. But in other cases you’re looking for less risk and more opportunities to take things a bit easier.

The concept is simple. At almost every given point in graduate school you have to make decisions. Decisions about what classes you want to take. Which jobs you want to apply to. Which professors to bid on. What clubs you want to join. And if you’re single, what guys/girls you might want to pursue. But in the end, you can’t do all of them. Maybe most of them, but not all of them. It’s impossible.

Instead, you have to figure out what combination of things works best for you. That is to say, which combination of things leads you to the best potential outcome based on your interests. The outcome with the most reward. The highest profit. And in MBA lingo, the best return on your business school investment.

In our case as MBA students (or JD/MBA students), we all measure reward and profit differently. For many of us, profit is a mix of both social and economic return. So mot only the jobs we get but also the friends we make and the reputations we build. It’s also about the activities we take part in, the experiences we have, and all the other things you could imagine are important.

As you might imagine, each student here values these individual elements differently, so you can’t just copy what someone else is doing. Some of us have a lazer focus on getting a specific job. Especially if we were unhappy in our prior careers. Others of us want to increase our networks, make more friends, or do more traveling. Others want to engage in academics since they haven’t been able to do that since college. And then there are some that want a mix of everything. That’s the group that I fall into.

And while these tradeoff decisions happen all year long, they become amplified during times like recruiting and finals period, when time is limited, and it feels like more is at stake than ever before. So in those cases, you feel the pressure. Pressure not only to make the right decision but also to do well and get a return the money you’re spending.

And you can’t get away with not making a decision.  Because if you don’t, you’re position on the scale automatically moves. You return goes down. The risk goes up. And you can feel yourself sliding. Moving toward the edge. About to fall off the side. And if you haven’t decided yet, at that very moment you’ll be forced to.

In short, there are a lot of tradeoffs in business school.