Susie Hall, Director of Outreach and Enrollment, Acton School of Business

Are you ready to apply to the Acton MBA? Susie’s here to answer your questions!

This is the first installment in a video series about the Acton Admissions program. Each week, Susie Hall, Director of Outreach and Enrollment, will answer your questions and provide updates on everything Acton. She will also be guiding new applicants around the Acton campus and showing viewers where principled entrepreneurs are made. Please pass this video out to anyone you think is interested in the Acton MBA program. Send Susie your questions HERE, and she’ll answer them in her next video.

Well, you made it. Today is the end of a long hard road. And we accept that you have to leave and we accept that you are going to go on this hero’s journey where you’re going to change the world. But I have to tell you it’s not easy on all of us or any of us because we’re going to miss you.

So what does it mean to lead a hero’s journey? To choose a hero’s journey? It means living every moment of your life as if it mattered because it does. It means to live as if you have an important mission. Because you do.

And like Harry Potter and Voldemort or Sir Lancelot and the Holy Grail, it means to realize that no matter how noble the quest, no matter how special the grail, the only thing that matters in the end is how the hero is changed by the journey. As you stand at the beginning of yet another glorious adventure, Steven is right, it is a good day to celebrate and to look back and see just how far you have come. To celebrate that first day right back there, that first day you walked downstairs in silence, and I told you how hard it was going to be and I gave you the choice of turning left and going back into the normal world or turning right. I warned you that the road ahead would be difficult, but each of you made the hard choice and turned right. And we were all forever changed. It is a day to celebrate as Steven said. Those who have walked beside you, Steven’s mentioned your parents, aunts and uncles, husbands and wives, significant others, family and friends who sacrificed so you could learn and grow. And he was so right to honor them.

Now I’d like to honor the teachers and staff who walked beside you the last nine months. Would you stand as I call your name and please remain standing: Jack Long, Jamie Matthews, Steven Tomlinson, Phil Siegel, Ted Beasley, Bill Jones, Jeff Serra, Kimberly Watson-Hemphill, Ellen Fleming, Jeff Connally, Tracy Balboa, Ed Perry, Susie Hall, Oscar Giaverini, and Jean Cornett. I cannot tell you how much this group sacrifices. The sacrifices they make. They could be playing golf or making more money or spending time with their families but instead they choose to walk beside you because each and every one of us believes that each of you are going to change the world in a profound way. The men and women standing before you are Acton. It means nothing without them. And I am grateful and proud to serve beside them.

Finally, today I want to celebrate each one of you because in the end, while we walked beside you, you paid the high price to grow. The bonds of deep friendship forged in hundred hour work weeks, sleepless nights and the terrifying prospect of selling door-to-door will last for the rest of your lives as will the memories, as well they should. Extraordinary family, extraordinary teachers and staff, lifelong friends… that’s quite a bit to celebrate. But let me tell you a little secret about entrepreneurs, we only pause and look back and celebrate for a few moments on days like this because soon our attentions shifts, looking forward to new peaks in the distance, magnificent peaks, businesses to be built. Perhaps even business empires, skills to be mastered, some that might even make us rich. Children and grandchildren to be born. To move from happiness to satisfaction, to fulfillment. You finished the apprenticeship, now you’re off into the real world as journeymen. For you see the last nine months have just been a warm-up, it’s really just been a training mission, now you’re ready for the struggles, the challenges and the battles that will transform you into master entrepreneurs. So I have to ask you what are you going to take with you on this journey because it’s time to start packing. What will you cherish from these last nine months? What will protect and serve you well? Will it be Acton’s theory of learning? That the right analysis and clear thinking lead to good decisions and good decisions become habits and habits turn into character and character turns into destiny. Will it be the questions and the frameworks? Will that be what you take away? Or will it be the lessons about making money? The tools and skills and pattern recognition that 350 cases that are so deeply embedded in your subconscious, so you are almost sure to recognize that extraordinary opportunity. One that will change your life. Or perhaps the most valuable lesson will be much simpler – simply the confidence that when someone is faced with a terrible dilemma or difficult challenge, that your name will be called. That you’ll be the one asked to deliver that message to Garcia. That you will be in the arena and that your place shall never be with those cold and timid souls who know neither victory nor defeat. All of these will serve you well as you move from a place where everyone has loved you into a world where that is much less safe, much harsher and less forgiving. But you’re ready. You’re ready to move from learning and practicing, to take your place in that great game of entrepreneurship.

Now it’s time for two final gifts. The first is a diploma. As Ed Perry would remind you, an Acton degree is like a black belt in the martial arts, it’s not an end in itself but simply a license to keep learning. For every hero does know that the most important part of the quest isn’t finding the grail, but how a hero is changed in the process.

The second gift is a book. A book with eleven chapters about eleven words. That symbolize where you have been, where you stand now and where you’re going. We’ll return to those eleven words in a moment but now it’s time for each of us to celebrate each of you with a diploma.

The book you have in your hand is titled Aspire. It focuses on eleven words and eleven chapters. The first five words in the first five chapters focus on the challenges of becoming a principled entrepreneur. The last five words in the last five chapters focus on how you can use your gifts to change the world by lifting up and leading others. The word in the middle of that five and five is the most fragile gift we deliver at Acton, a word that keeps your gifts and accomplishments from devouring and destroying you. The word that equips you to lead others on a worthy quest. That word is “humility.” Not the weak, passive sort of humility or the false modesty that C.S. Lewis rightly singles out as the worst form of pride. But the strong quiet form of humility where the master strives to be a curious, life-long learner. You have earned the right to this word. For the character has been etched by the hard work you’ve performed here, by the fact that you never gave up, that you had the courage to look at yourselves in the mirror over and over again. A belief in the power of personal character, forged by difficult decisions, in serious reflection is what separates Acton from business schools that believe ethics can be delivered through lectures or enforced by some sort of MBA oath. It is what separates you from traditional MBAs who long to be masters of the universe or financial speculators. It’s what will separate you as principled entrepreneurs from the charlatans on Wall Street or power-seeking parasitic politicians that threaten our way of life because we know character is earned, not taught. And what really matters is what you do when no one is watching. There is however one drawback to this humility, this special essence of character, and that is it’s so ephemeral, it’s so easily lost. And once transformed by poison or power, it easily can become a fire that consumes you. We’ll turn to that subject in a few moments when it’s time to say our last goodbyes.

Well now it’s time to say our last goodbyes. I’ll leave you with one thought, a warning actually, a glimpse of your future from someone who has been where you’re going. As you sit here today, all warm, with a glow of such an amazing accomplishment – such a well-earned accomplishment – I know that each of you are a little worried about what you’ll do next, concerned about that next job, wondering you have what it takes to become a successful entrepreneur. I’m here to tell you that you’re worried about the wrong thing. You will be successful. You’ll make more money then you’ll need. You’ll learn that being rich is not about how much you make but spending less than that so that your time belongs to you. You’ll find that failures aren’t about setbacks or making mistakes because those only make you stronger. Increasingly you’ll find yourselves with more and more power at your command. That is when you will be at the most dangerous moment of the journey. When you approach that point where absolute power can corrupt absolutely, when you reach that point I hope you will remember Ed Perry, Steven Tomlinson, and Ted Beasley and all the rest of us because what you do next will reflect on every person who ever has or ever will walk across this Acton stage.

I’ll close with this. We all started nine months when you decided to turn right and not left, you accepted the challenge and I told you that Acton exists because each person here believes that you can and will change the world in a profound way. You are some of the best and brightest people I have ever met, living in the freest country on the face of the earth, at a time when those freedoms are facing some of their greatest challenges. If you aren’t going to go out and make a difference, then who will? And if you’re not going to start now, like Sid, then when?

My final wish and this is a personal one, if you believe as I do, I hope that when you step through that final door and stand before your maker, you will hear those words we all long to hear. Those beautiful words in Matthew: “Well done, my good and faithful servant.”

God bless you, Godspeed and know that we will never forget you. Thank you.

For more information on the Acton School of Business’ Class of 2010, watch this video or check out the Acton MBA website at www.actonmba.org.

For some more of our teachers’ thoughts on becoming a principled entrepreneur, you might read this speech by Master Teacher Steven Tomlinson or this post.

The Acton MBA blog’s first birthday has come and gone and to celebrate, we’re making some improvements.

We have some exciting changes in store and we just wanted to give everyone a heads up. In the coming weeks, start looking for new series (possible topics include pop culture, current events, and alumni profiles) and more ways for you to get involved.

Any changes in particular that you’d like to see? We’d love to hear from you. Post in the comments section or email us at writing (at) actonmba.org.

Photo courtesy of saucydragonfly.

Thanks to everyone who made Acton’s 2009-2010 school year such a stellar year. Five people particularly stood out:

This year’s Case Teacher of the Year was awarded to Jeff Sandefer. Case Teacher of the Year is the teacher students believe used the Socratic Method to its full capabilities to increase their learning and understanding.

Ed Perry was named the Highest Rated Teacher. Each week, students rate the week’s curriculum, classes, teachers, and Acton staff in a detailed survey. Perry received the highest score overall.

For the first time in Acton MBA’s history, we celebrated two Students of the Year: Robin Weekley and Joshua Epstein.  Student of the Year is awarded to the student with the highest GPA at the end of the two semesters.

Finally, the 2009 – 2010 Acton Scholar Award went to Eleanor Burkett.  The recipient is chosen by the Acton teachers and is for the student who they believe made the most remarkable progress in making the tools and spirit of Acton their own.

Photo courtesy of Bill Hornstein.

At Acton, our belief in economic, political, and religious liberties is the cornerstone of our mission to prepare principled entrepreneurs who will change the world. We’d be remiss if we didn’t pay tribute to the thousands of sailors, soldiers, Marines, and airmen and women who died fighting for these freedoms we so greatly treasure.

It can be hard to walk the line between honoring Memorial Day’s intended purpose and enjoying a long-awaited three-day weekend. There are many ways to commemorate this day, like decorating graves, attending parades, and pausing for the national moment of remembrance. Here are some other ways you could honor those who made the ultimate sacrifice:

• Find a hero’s story to tell. With 10% of current service members hailing from Texas, plus thousands of parents and grandparents who served in the Gulf War, Vietnam, Korea, and World War II, you have a lot of choices. Find someone who defined herself by the challenges she overcame. Interview those who knew her best. Learn from her insights, personal integrity, and far-reaching achievements. And then share with others those heroes who have shaped and inspired you. (For tips on how to conduct a hero interview check out the Acton Heroes website and the “30 Minute Interview with an Entrepreneurial Hero” learning experience).
• Shop at a veteran-owned business or at one of the fortune 1000 companies that “buys veteran.” Did you know veterans are twice as likely to own a small business as non-veterans (1 in 7 vs 1 in 14) and that some of America’s greatest entrepreneurs served in the armed forces, including Ross Perot (EDS), Phil Knight (Nike), and Fred Smith (FedEx)?
• Thank a veteran for his or her personal sacrifices and thank the families of those who died fighting. We’d like to thank all our alums who served.

Today, honor those who believed in the future of our country and celebrate the struggle it took to get where we are today.

Photo courtesy of Beverly & Pack

The oath promises eight commitments, including:

• I will act with utmost integrity and pursue my work in an ethical manner.
• I will safeguard the interests of my shareholders, co-workers, customers, and the society in which we operate.
• I will manage my enterprise in good faith, guarding against decisions and behavior that advance my own narrow ambitions but harm the enterprise and the people it serves.
• I will understand and uphold, both in letter and in spirit, the laws and contracts governing my own conduct and that of my enterprise.
• I will take responsibility for my actions, and I will represent the performance and risks of my enterprise accurately and honestly.
• I will develop both myself and other managers under my supervision so that the profession continues to grow and contribute to the well-being of society.
• I will strive to create sustainable economic, social, and environmental prosperity worldwide.
• I will be accountable to my peers and they will be accountable to me for living by this oath.

Created in 2009, this oath reminds students about their responsibilities to their family, colleagues, and the public.  A book about the MBA Oath was released just one month ago.

The oath is popular among some business professionals and students.  Schools across the world, such as Babson, UT Austin, and the London Business School, have made the oath available for their students to sign.

Professionals like Charles H. Green from TrustedAdvisor Associates support the movement, insisting that it will “be seen as a declaration of a new way of thinking, and will significantly prevent future misdeeds.”  Green believes this new way of conducting business will ignite a more meaningful and trusted business world. “Old competition-based thinking will continue to exert drag, but new realities are compelling us to see that success is increasingly driven by collaboration, not competition. The oath is a wake-up call to review the world in which business operates.”

However, views of the MBA oath are divided. There has been some resistance against the MBA oath from both students and business professionals.

Theo Vermaelen, business professor from INSEAD, says that the oath is ineffective and misleading. He notes that one of the primary responsibilities for a company is to maximize the wealth of its stakeholders and “the HBS oath aims to achieve exactly the opposite by including the whole world as a stakeholder.”

Advocacy for the movement has slowly started to fade.  Many have reported that the percentages of students signing the oath have decreased this year in relation to last year’s overwhelming response.

More details about the MBA Oath are available here.

What do you think? Should students sign the oath? Or is ineffective?

Photo courtesy of ervega.

On May 11, David Hauser and Siamak Taghaddos, co-founders of Grasshopper, proposed that March 20, 2011 should be the inaugural National Entrepreneurs’ Day. The national holiday will celebrate the past, present and future entrepreneurs of our country.

The movement has called supporters to band together through Twitter to reach out to President Obama. In an interview with Inc.com, Taghaddos said, “It was also a good fit with Obama. He’s the first president who’s ever been on Twitter and been using social media. It’s unique how quickly and easily things on Twitter become viral. Everybody’s talking about it these days.”

Notable supporters include the Entrepreneurs Organization, Babson College and Matt Mullenweg, Founder of WordPress.

To sign the petition, visit the National Entrepreneurs’ Day website.

Photo courtesy of verstyl.

This year, one of our Class of 2011 students will be maintaining a Twitter account during his journey through Acton. For the next year, Chris will be twittering the ups and downs, successes and failures he encounters from Pre-Matriculation (starting on May 24, 2010) to graduation (May 2011). To meet Chris and read about his real insights into Acton, follow him (@actonstudent) on Twitter.

Congratulations to the Class of 2010! We’re so proud of the hard work all of you put in this year.

For more pictures, visit our Facebook Fan Page.

Photography by Brian Fitzsimmons

Kids really can create companies to solve every problem the world has and to capitalize on all the ideas they have already. Let’s help them. Let’s teach kids the skills they need to be entrepreneurs. Let’s teach them that being an entrepreneur is an awesome career.

Helping your children by providing them with activities like Cameron’s can go a long way. You could also encourage your kids to participate in business fairs (try our annual Children’s Business Fair) or events such as Lemonade Day.