Should you get an MBA?

Check it out!  I just got a diploma in the mail that says "Ian Devereux White. Master of Business Administration". It's an amazing feeling and one that may be yours in the future. But how do you know if an MBA is right for you?

I was 5 years out of college and starting my 2nd business (Paw Pets);  when I began my MBA. My professors acted as business consultants, not just professors. I learned a wide variety of materials ranging from Business Law to Ethics (yea, big difference in most cases) and applied them directly to my young company. That's why I decided to get my MBA. 

Should you get an MBA? seems like a simple and straight forward question, but it's not. Getting an MBA might be completely right for you, but at the wrong time could be basically worthless. An MBA, or school in general, might be completely wrong for you, but done at the right time in a career could make all the difference in the world.

First, every MBA program is different and it's important to remember that you can get a great education from just about any school (online programs exempt) if you put the work in. Doesn't matter if it's Berkeley or a little private school, you'll get out what you put in and you will develop great connections and a new and complete understanding of the intricacies of business. Make sure the school is accredited and requires that you take the GMAT!


Second, there are students who go straight from college to an MBA program, and in some cases were able to contribute a great deal. But as a rule, if you want to get the most out of an MBA and give the most back to your fellow students, you should have 5 years of real world experience or more. This is very important, and you need to consider what you really have to offer, because if you have little to offer you will also gain little; so go back to work, get some experience, and then see if an MBA is still right for you.

Third, One of the best parts about an MBA is that you are able to work with people from all different backgrounds. Whether you specialty is in a little family owned restaurant or multi-national corporations, you will still have a great deal to add to and take away from the program. Just be sure you have significant experience in your field or in a wide variety of fields.

Some MBA's get out of school and immediately experience a salary increase, others go back to their family business with the same pay and often some debt. Some schools are over $150,000 and others under $40,000. Don't judge based by cost, judge by the way you feel on campus, the way you connect with your peers, and the relevancy of your professors experiences (they should still be actively working in the field they are teaching). Trust your instinct as to how much you can learn from your peers and professors and be honest about how much you feel you can give back to them.

Ask yourself these questions:

How relevant is getting an MBA to my specific goals? How relevant will my experiences, thoughts, ideas and input be to my fellow classmates and professors who likely have 5-15 years experience, much of it managerial experience? What do I really want out of an MBA knowing that I may not make any more money? What do I want out of an MBA knowing that I will forget most of what I learn if I don't apply it fairly quickly? What are the real world applications of an MBA for me or my company?  What do I really want out of this experience? 

As you answer these questions, be sure to remember that you will only get out what you put in and getting an MBA will not necessarily make you any smarter, any better at business, or increase your salary. The only guarantee is that it will be a lot of work and cost you or your company a lot of money. However, if you are in the right place in your life and you are going for the right reasons an MBA is an amazing and extroridnarly valubable experience and I highly recommend it!

If you have any specific questions about getting an MBA or St. Mary's College of California, I'm here to help.

Until next time,
I

A quick re-cap and I'm back!

Dear readers,

It's been quite some time since last I wrote and for that you have my most humble apologies. Rather than give you a detailed update of everything that's been going on since my last post on April 16th, I'm just going to give you a few broad highlights in my personal and professional life now that will be discussed later in relevant business related topics:

-Ariana and I picked a wedding date: February 19th

-We're remodeling our house (yes, while planning a wedding!)

-I created a mutually beneficial and potentially very profitable partnership between the keiretsu Forum and the 15 Next Generation wineries, including Peju.

-Butter is now working with wine.woot to create a partnership with many of our local clients and things are moving as smooth as butter.

-I have completed all of my courses and  have an MBA!

-Paw Pets are on sale in Canada and we are working on our biggest sale ever and trying to order enough inventory for the Backer show in October because we are dropping our prices, releasing new toys and sales are going to go crazy!

I've learned a lot creating these partnerships, at Yappy Hours, on business trips and in school and look forward to sharing my experiences with you so that you can learn from them too. I hope that you will comment on my upcoming blogs and agree with me or challenge me or share your own experiences so that we can gain from them as well.

The next blog will not be up for a week or two because I"ve got some traveling to do but the title will be: Should you get an MBA?

Thanks for reading!
Ian

Planning a Sales Trip? Rules to Live by.

Check out Sharkiana! Animal Wellness picked her as their favorite Eco-friendly plush toy!

Now to the sales advice:

Many aspects of a sales trip seem like common sense and I know "common sense is not common", but so many reps are missing the most important points! Before I get into these points and tell you what to do, I think it's a good idea to walk you through my latest experience.

I headed to Marin to see three pet boutiques last week. One had done well with Paw Pets in the past, one had done "OK", and the other had struggled to sell the toys and ended up discounting them and using them for display purposes. Hey, you can't win them all and not every toy is right for every demographic so don't let it get you down. I had new toys to show them, all of which are on the website and could easily have been ordered online, but showing up at their boutique in person, showing I care, and delivering toys went a long way, and not just because they save on shipping. However, showing up at a boutique can do more damage than good.

Generally sales reps are not met with thanks for our troubles and time; as a matter of fact all three stores in Marin let me know that I was at least the 4th sales rep that had come in before noon. These words were not communicated with excitement or happiness but were expressed with tones of annoyance and exasperation.

Why is it that making a trip to push our products on boutiques and take up their valuable time and make them feel awkward about saying "no" would be annoying? Er... um... wait... question answered! Boutiques can order just about anything they want online and know exactly how do to it and probably get a discount by doing so. But here we are, products in hand, taking up their time and putting them in an awkward position over and over and over and over again...

But it doesn't have to be that way. I made sure that I was not just another annoying sales rep; I was the sales rep that took the time to CALL AHEAD, briefly tell them what I had to offer, asked them about their day without sharing about my own unless asked, and then asked when would be a good time for me to QUICKLY stop by and show them my Paw Pets. They checked their schedules, gave me a time, and I showed up right on time; not early, not late, but right on time and prepared to wait happily and out of the way.

I was the only sales rep, at all three stores, who had taken the time to schedule an appointment. I was the only sales rep who even gave himself a chance to show up on time... In a world full of sales reps constantly bombarding stores with products here are some rules to live by:

1) Call first!
2) Take up as little time as possible but make a personal connection and take notes.
3) Care about the products and make sure the buyer can hear that over the phone.
4) Smile on the phone.
5) Dress appropriately for your clientele. In the pet boutique world if you wear a suit you're done before you get started.
6) Be prepared to wait when you get there and do so graciously and out of the way.
7) Make a personal connection with the buyer and try to bring up specifics from your phone conversation that make them feel like you listened and like they know you.
8) Do everything you can to make the buyer feel special. Offer a special deal, remember the name of their pet or their personal circumstances etc.
9) Call back to check in (make sure you give them plenty of time to gather feedback and call around the time they originally scheduled you to stop by or at a time that they will likely be less busy).

There are many other ways to be a better sales person in a world where stores have window stickers that say: "I shoot the 4th sales rep and I just saw the 3rd," but this advice should give you a good start and feel free to ask me any specific questions; I'm ready!

By the way, all three stores made large orders!
Happy Friday,
Ian

Donations and Events

Hello all,
I know it's been a while since I last wrote but it's for a very good reason; I've been busy donating tons of time and Paw Pets to good causes! My most recent donation of time and toys went to Paws For Love in Santa Rosa. The event was very well attended and raised a bunch of money for homeless pets and found homes for many pups as well. I met some great new friends, sold some Paw Pets and was very excited to see the enthusiasm of bidders during the silent auction; some of whom had seen Paw Pets before and had great things to say and others who had never seen a Paw Pet but excitedly exclaimed things like "I want to play with one of these with Bruno... can you imagine how much fun?!?!"



It was a great experience to meet all of the dog lovers and enthusiastic members and volunteers for Paws for Love and was quite a nice feeling to know that my Paw Pets and I were helping raise money and find homes for pups in need.

It was also extremely beneficial to go to the silent auctions because although I frequently donate Paw Pets for auction, this was only the 2nd one that I have attended. I was shocked to see how different the two silent auctions were and learned a great deal about what questions to ask when considering making a donation. Both silent auctions were very successful and I'm definitely going to continue to donate to silent auctions but things like whether or not the toys were bid on separately or bundled together with other products makes a big difference; especially in terms of marketing research and figuring out how much people are willing to bid on a product (it's almost always the case that people are willing to pay less at auctions than they would in a store... it's part of the fun of getting a killer deal and doing a good thing).

If you are considering donating to an auction, please contact me as I have some advice that I think could help you a lot and lead vastly improved benefits for you or your company if and when you participate. One piece of advice: See if you can control or have some say as to what your donation is bundled with and try to go to the event (be a fly on the wall) and see what people have to say about your products when they don't think you are connected to them at all!

2010

Hello and Happy New Year!

My last post was December 7th and much has happened since then. Paw Pets recorded our first profitable months (Nov/Dec) and we've had a major increase in online sales (and boutique sales; especially in certain locations where we sold out once or TWICE between December and January 1st).

In addition, we've begun to successfully reach out and develop friendships and partnerships with pet organizations, large and small, local and national, who need donations, are looking for event sponsors, volunteers, participants and supporters. Please contact us with any such organizations that you know of, pet related or not, who could use Paw Pets to raise money for a good cause or make the world a better place for pets and their people. On that note, please contact us and let us know where you do your pet shopping so that we can make sure that Paw Pets are on the shelves.

Special thanks to: The Bark Magazine for their holiday product recommendation, Animal Wellness Magazine for their holiday product recommendation, and to Dogtime Media's secret shopper for trying Paw Pets and telling his/her readers how great he/she thinks they are!

We had our most successful events ever at the end of last year; thanks in part to Paws With A Cause, who set up a present wrapping for donation booth next to ours and whom we donated 10% of proceeds back to in support of their mission to train dogs for the disabled. Other thanks to Bobby of George and Len and Leslie of Nitro Dog for allowing me to set up my booth in front of their stores and talk (and sell) to customers about Paw Pets; it was quite profitable for all parties involved!

There were other wonderful moments for me personally and for Paw Pets but now it's January and it's time to learn from our successes and failures in 2009, focus on the present (today's sales and partnerships), and begin to plan for the future. It is my goal this year to make sure that everyone in the country with a pet has heard of Paw Pets and that every boutique, whether they carry Paw Pets or not, knows that those who have Paw Pets love them! We also expect the launch of the 8th Paw Pet as well as the return of Bamboo Sharkiana (which sold out in 2 months!).

I have other goals related more closely to revenue, brand building, and the future of Paw Pets but right now my head is in the moment and the steps that I must take to reach my lofty goals must be taken one at a time.

On a personal and Napa related note, I would also like to announce that we officially launched the new logo for the Napa Valley Men's Luncheon Club (NVMLC), which I am proud to be a part of and is a group comprised of 250 of the most influential men in Napa. We are bringing the club into the new decade with a snazzy new logo, which I had the honor of designing (below), e-newsletters, and an eye towards bringing more youth and more members into the club without outgrowing the banquet halls in which we meet.

Again, happy new year to everyone and if you have any ideas for Paw Pets, are looking to exchange links, want to make some money by helping us sell toys, or don't have a Paw Pet yet please contact us through our website at http://www.getpawpets.com or ian@getpawpets.com and we'll make it happen!

May 2010 grant you love, health and happiness.
I

Paw Pets: Event at Geoge Berkeley

I hope you all had a great weekend! I worked most of the day on Saturday but that was actually one of the best parts of a superb weekend. The rest of this blog is designed specifically as a website optimization test, no need to read further.

I showed up at George, a wonderful pioneer pet boutique on 4th street in Berkeley, and spent the day selling Paw Pets, chatting with locals about pets, pet toys, dog toys, cat toys, and of course, all the "cute" things that pets do. Many brought their dogs out with them and it's always great to meet people and pups who love Paw Pets and/or interact together in fun ways like trips to the local pet boutique.

I was also lucky enough to spend a bit of time with the Dunbars of Dog Star Daily, who are some of the most influential trainers, dog lovers, and activists in the area. They were kind enough to support me by buying a Paw Pet from George and in return I gave them one to try with their pups. I hope that they will write an article or post a video on their website but even knowing that they are about to have a ton of fun with their new Paw Pets is enough to make it all worthwhile.

As a matter of fact, knowing in general that Paw Pets are making so many people and their pups happier and healthier is all I need to know to make all of my efforts worth while. Don't get me wrong, revenue is what allows me to create toys that lead to smiles and laughter.

Thank you, Bobby, for you kindness, support and for having me at your boutique for such a fun and successful Saturday! I look forward to my upcoming event at Nitro Dog in Lafayette (a benefit for Paws With A Cause) next weekend and many more (including our next event at George on or around Valentine's Day).

Please let me know if you would like to have an event at your store or know any organizations looking for holiday donations!?!?

I hope everyone out there has a GREAT week ahead of them.
I

Incentives and the "Free" Culture

Happy holidays from Paw Pets!

This year each large Paw Pet (Crocobob, Hippolynne and Sharkiana) comes with a free purple, pink, or green Santa hat as long as supplies last. The hats are not only cute on Paw Pets but are pet-safe and fit comfortably on pups!

It's interesting trying to figure out what kind of incentives really drive customers to your product. Last year I had a few great events at local boutiques with good sales but always had leftover toys at the end of the day... Then on December 22nd of last year my mom bought some small santa hats that fit nicely on the toys to add a little cheer to my holiday display. To our surprise, not only did we get more attention, but people rushed to buy the toys expecting to get that hat too. When I informed them that the hats were just display items excited shoppers began bargaining with me: "what if I bought 2"? or "Throw in a hat and I'll send everyone I know to your website"? Eureka, I thought, we have to make and sell these hats next year! It's also nice for consumers because they don't have to buy a cheap "holiday toy" but rather can buy a great that can be used all year with a re-usable holiday hat.

Shortly thereafter I visited one of the wonderful boutiques that carry Paw Pets and found a PILE of little Santa Hats for pups (or children, I imagine) discounted at 75% off... they weren't selling or didn't sell nearly as well as the boutiques expected... And yet, I was up-selling from $25.00 to $50.00 simply by including a hat similar to these $5.00 hats that were now piled in the discount bin. What was the difference? Why were people willing to buy an extra Paw Pet just to get a hat that they could buy for $5.00 or less from pet boutiques or other retailers?

Although I have developed many theories and intend to test them this year, I believe what it really comes down to in the end is the idea of "free". People didn't mind buying an extra toy, spending more than they thought they would as long as they got something "extra" or "free". They were making a large purchase decision or bargaining excitedly just to get the little hats based on the idea that they were getting something for free... The idea of our new "free" culture and how to make money on "free" is discussed at length by Chris Andersen in his book "FREE". If you are in an industry where you can add value with something free, provide a free service and charge for the upgraded service, or if you are in sales at all, I highly recommend reading this book. I would suggest, however, sticking to the chapters that most relate to you and your industry.

I'll let you know how my Santa hat experiments go this year.
I hope you all had a happy Thanksgiving!
I