Continuing Education
by Jim Nolen

Life lessons
I've always been a proponent of balancing academics and practice. Those of you who took my finance class probably remember my explaining an academic concept and then using an example from my consulting experiences to make the concept more concrete.

I always tried to operationalize finance, and hopefully my in-class musings—such as “Profits don’t pay the bills, cash does” and “Buy low, sell high, collect fast, pay slow, manage growth and don’t run out of cash”—have taken on more meaning since your graduation, whether you work in the corporate world or have your own business.

While I stay in touch with a great many of my former students, I have lost touch with others and would love to get an e-mail update on your career. As you look back over your career since graduation, what could I have done in class to better prepare you for the real world?

Since you all are the future of global business, having content in my course based on your front-line observations would be invaluable to me. What trends in your industry are you seeing that could be addressed in the classroom? What lessons and frameworks did you take from your studies that you use on a regular basis?

Resources for entrepreneurs
Since they are required to wear so many hats, entrepreneurs need a broad, cross-functional background. Statistics show that many of you will start businesses or work for small businesses within 10 years of graduation. Also, many of the corporations for which I do executive education are pursuing corporate entrepreneurship, because they know that there are plenty of VC-backed firms whose sole goal is to take market share away from them.

Some former students have been in touch with me recently, searching for a business to purchase. Others want to use their corporate experience to get involved with private companies at an early stage. You might find the following Web sites useful if you are managing or consulting with a private company:

• Business Statistics
• United States Small Business Administration
• Corporate Finance, Investment, and Valuation
• CEO Express
• BizMiner-Industry Analysis and Marketing Plan Research

Also, a good, inexpensive book that can be purchased online is “Business Start-Up Guide: How to Create, Grow, and Manage Your Own Successful Enterprise” by Tom Severance.

Continued personal development
Have you taken the time since you left graduate school to examine your accomplishments? We all know that learning does not stop when you get the sheepskin. Yet we get so bogged down in our day-to-day routines that we forget about our continued personal development.

Many of you are achieving the goals you set but are always eager to accept new challenges. Others may have had your plans derailed by the technology bust and subsequent economic downturn.

If you’re looking to rekindle the fire you had when you left school, I encourage you to use the McCombs School’s resources to further your opportunities and development. For example, the Department of Executive Education offers customized programs on topics like leadership, change management and living with Sarbanes-Oxley.

The business world does not stay static and neither should your education.