Rethink, Reinvent, Retrain - April 4, 2010 - Segment One

Rethink, Reinvent, Retrain – While working in the corporate world, most people are boxed into a specific area where only certain types of skills are needed. When making the decision to go out beyond those restrictions, people really have to think about what skills and knowledge base they are going to need to thrive during the transition. One of the options people should strongly consider is pursuing an MBA. In addition to the traditional MBA, there is also the Fully Employed MBA (FEMBA) and the Executive MBA (EMBA). Both are great ways to learn about finance, marketing, operations, sales, and other areas you may not have been familiar with in your corporate job. Caller Rob McLeroy, President and Founder of Infotainment, addresses how he got his MBA after being in the professional world for some time and how the MBA experience helped him to identify the business structures and theories he already had exposure to but could not identify by name. Even though Rob’s MBA education took place in an academic setting, it still gave him a lot of real world experience, as a substantial amount of work in these programs includes doing hands-on activities. When it was time for Rob to make his business plan, there was nothing he had to learn from scratch. Rob maintains that market research is critical, as is understanding the market you want to enter. You can’t build a product if you don’t know what market you’re selling it into.

2Minutes&More with Betsy Berkhemer and Renee Fraser airs every Sunday at 1pm on KFWB NEWS TALK 980. Tune in for a full hour of tips for business success.

Rethink, Reinvent, Retrain - April 4, 2010 - Segment Two

Rethink, Reinvent, Retrain – Caller Jim Kushner, Founder and President of Measurable Media Group, a full service media brokerage firm, discusses his experiences in leaving his old career behind to pursue his MBA. Initially, he was working on the client side of advertising and saw that his career growth was moving at a good pace. He also realized, however, that there were a number of opportunities out there that he would like to be involved with, but didn’t have the contacts and knowledge to do so, thus leading him to go after his MBA. Traditionally, Jim says, when people think about pursuing their MBA, they think that you quit your current job, go back to school for two years, and then look for a new position. What attracted Jim to the UCLA Anderson School of Management Fully Employed MBA (FEMBA) program is that students have the opportunity to bring their past work experience into the classroom, as well as continue to learn new ideas and tools that can immediately apply to their current positions. Additionally, there are frequent opportunities for networking, since everyone in the class is also currently working.

2Minutes&More with Betsy Berkhemer and Renee Fraser airs every Sunday at 1pm on KFWB NEWS TALK 980. Tune in for a full hour of tips for business success.

Rethink, Reinvent, Retrain - CEO Interview - Larry Weintraub, CEO of Fanscape - April 4, 2010 - Segment Three

Interview with Larry Weintraub, CEO of Fanscape

Rethink, Reinvent, Retrain – Betsy and Renee speak with Larry about his transition from well-known music industry veteran to starting his own company, Fanscape. In 1998, Larry found himself laid off after the record company he was working for was sold. From there, his main options were to find another job in the music business working for someone else or start his own company. Larry and his business partner decided to focus on a crucial element they felt was missing from the music industry: the connection between the artists themselves and the people who purchased their music. Additionally, Larry reveals, even though he was an economics major in college, he had no real business experience at the time, which was a major challenge in starting the company.

Another obstacle facing Larry in getting Fanscape off the ground was the inability to get money from venture capital firms, who continuously said that he didn’t have a “big enough idea.” As such, they had to figure out a way to make money really quickly, which led to Fanscape charging for its services when similar services at that time were free. While they didn’t make any money for two years, they had at least established a solid revenue model to move the company to the next level. Larry notes that a big reason for his company’s success was concentrating in an area where they found a need. Fanscape was the first company to provide databasing for bands on a large scale, while also allowing people to communicate with those bands. The key for Larry was creating a business that he knew there was a need for, but just as importantly, super-serving clients to the point that they came back for more and told others. Moreover, Larry mentions they were aware from the beginning that if they stuck with musical acts as their only source of revenue, they would be out of business quickly, given the steadily declining state of the music industry. So there were always intentions of expanding to film and television as well as corporate brands.

Based on his experiences, Larry tells people going for MBAs to focus particularly in one area, which in his case would have been managing people. Likewise, if you can’t go back and actually get your MBA, there are other ways to reinvent yourself. You can take classes, seminars, conferences, as well as seek out skills through coaches and counseling. Larry shares that he is always trying to strengthen his employees’ skills. Some of them have taken writing classes, some have enrolled in the Toastmasters program to improve their public speaking abilities, while others have attended classes at UCLA Extension.

2Minutes&More with Betsy Berkhemer and Renee Fraser airs every Sunday at 1pm on KFWB NEWS TALK 980. Tune in for a full hour of tips for business success.

Rethink, Reinvent, Retrain - April 4, 2010 - Segment Four

Rethink, Reinvent, Retrain – Caller Amy Castillo talks about getting her Fully Employed MBA (FEMBA) from UCLA Anderson School of Management, and how it was a major tool in strengthening her skill set. Previously, Amy was working in organizational and leadership development, and while she was coaching people, she thought it was critical to have the business savvy to be able to speak and relate with them, in addition to her desire to develop her own skills. While she was getting her FEMBA, Amy thought she would stay in her job at the time, but as she started meeting people and learning new skills, she decided in the end to leave that job. She subsequently went through a process of identifying what she wanted to do next and ended up with an internship in the marketing department of a large entertainment company. In the end, Amy actually landed a job with that same company, learning about and researching their multicultural consumers and how to improve their relationship with them. Amy’s advice to people trying to find their next job after getting their MBA is to do a lot of informational interviews and leverage the school’s alumni database. It’s a great tool for process of elimination to tell you about areas you’re interested in and what you would rather avoid.

2Minutes&More with Betsy Berkhemer and Renee Fraser airs every Sunday at 1pm on KFWB NEWS TALK 980. Tune in for a full hour of tips for business success.

10 Tips In 2 Minutes - Rethink, Reinvent, Retrain - April 4, 2010 - Segment Five

Rethink, Reinvent, Retrain – Caller Andrew Greene shares his experience with the Executive MBA (EMBA) program at UCLA Anderson School of Management. As part of a real estate finance course Andrew took, the class took a trip to Dubai and had a chance to meet with some of Dubai and Saudi Arabia’s key developers in the real estate industry, as well as key individuals in the banking industry. Betsy and Renee recap the various ways individuals can reinvent themselves and their career prospects. Most people have about four careers in their lifetimes, and if you’re unhappy in your current job, the key is to think about what you’re passionate about, and then retrain yourself on how to get there. Look for opportunities to expand or continue your education, such as the money available in the Workforce Investment Act (WIA) that pays for people to enroll in a certificate program in certain key areas at UCLA Extension (find out more information at www.uclaextension.edu). For people who want to start their own company, remember that there are often entrepreneurial programs or emphasis in MBA programs. And when you get your new degree, be sure to put your education at the top of your resume, because executive recruiters are looking to see your education and what you’ve learned most recently.

2Minutes&More with Betsy Berkhemer and Renee Fraser airs every Sunday at 1pm on KFWB NEWS TALK 980. Tune in for a full hour of tips for business success.