Good morning!
And welcome to May. The Star Wars month (May the 4th be with you).
When I was doing my Masters in Consumer Behaviour, I took up an elective on religion- focused on Taoism. Taoism or Daoism is a religion and a philosophy from ancient China- it emphasizes living in harmony with the Tao (defined as the source of everything and the ultimate principle underlying reality).
I wrote a paper at the end of that year about Taoism and science fiction. One of the sections was about Star Wars- The concept of the “Tao” (道) is near identical to the Force in Star Wars. Roughly translated, it means something like “way,” “path,” or “road,” but in Taoism it is used to refer to a spiritual “flow of the universe” that all things are a part of. Much like the Force, all living things are part of the Tao, and vice-versa.
I started getting into Star Wars, some of the earlier movies first and then the recent stuff- Rogue One, Fallen Order. I have noticed that the fringe (i.e. non Skywalker saga) stuff appeals to me more. They also seem to be more in tune with the philosophical underpinnings of Star Wars. For instance, Fallen Order uses a great Marcus Aurelius quote to teach the protagonist about taoist flow and utilising obstacles-
The impediment to action advances action. What stands in the way becomes the way.
I understood this during my MBA when I used to try and write a paper but it was hard. I would get frustrated sitting in front of the screen for hours unable to come up with anything great but slowly, over months I realised- that staring at the screen and feeling hopeless is part of the process. James Clear talks about this-
Many people assume they are bad at writing because it is hard. This is like assuming you are bad at weightlifting because the weight is heavy. Writing is useful because it is hard. It's the effort that goes into writing a clear sentence that leads to better thinking.
Writing IS thinking. Don’t judge yourself based on how difficult it seems or how long it’s taking you- the impediment to action advances action. What stands in the way becomes the way. Persist.
Our first read for this month is about candidates who are applying to tier 1 programs but have an ‘unconventional background’. Our second read is about negotiations.
Let’s dive in 🤿
Notable Upcoming Deadlines
I’m not like everybody else
The Kinks have a great song called "I'm Not Like Everybody Else"- I first heard it on an episode of The Sopranos, as our protagonist is walking away from the camera. It’s a wonderful track. Written in 1966, it is a defiant anthem of non-conformity.
Often we get clients who come from ‘unconventional backgrounds’ and they are usually plagued with worry. They don’t believe they can get into top tier programs; if by some act of god, they are admitted, they don’t expect to do well and somehow see themselves as inferior in some way to the ‘hardcore’ MBA types.
Those from atypical backgrounds – teaching, law or social work – have a lot to offer. Often, an MBA is a key way for them to pivot in their career – whether that is switching function, role, location, or any combination thereof. Schools are not unaware of this; their ad comms have the ability to contextualize and evaluate different candidates differently. However, there are some key things to keep in mind if you believe you might be a ‘non-traditional’ candidate.
(For clarity’s sake, you can define non-traditional as those outside of a finance, consulting or significantly older than the class average)
Be really clear on the why: Being a teacher, artist or architect, the obvious question is “Why an MBA”? It is not a natural choice, so there should be a compelling reason that is organic to you and also convincing to the add comm. Schools are quick to see through bullshit, so center your short and long term goals as you’re developing your why and be as honest as possible.
GMAT is your friend: The fact that it is standardized will probably be a good thing in your case, as you’ll be able to be on equal footing with more traditional candidates. Make sure you have a strong score, so that schools can be confident of your quantitative and analytical ability.
Your Essays: These will be doubly important in your case, as they will give you a chance to showcase your body of work, explain in detail and contextualize it appropriately. It’s also an opportunity for you to showcase your teamwork, leadership and collaborative skills as you used them in your context. This will likely look different than someone from a consulting background, but that’s totally ok.
Your Resume: This is the place for you to really highlight impact – in concrete and quantitative terms. For instance, if you’re a teacher, you can highlight your expertise with teaching tech and how use of such tools has increased test scores by x% within a certain period of time. This shows the ad comm that despite being from a sector they might not be familiar with, you are competent and capable.
So there you have it. Don’t fear your differences, but be tactical about how you present them. Highlight the things that set you apart, always quantify impact and remember – you are deserving of that place in b-school.
Making an offer they can’t refuse
Negotiation is probably the single most important skill that you can hone. MBA students need these critical capabilities as soon as they can acquire them. For one thing, skillful negotiation of job responsibilities, salary, and bonuses can add to an MBA graduate’s compensation during their critical first job after graduation. Plus, those skills can also lead to better performance evaluations, since many managers engage in some form of negotiation every day.
Moreover, data shows that professors teaching negotiation courses are among the best in all of graduate management education. Often they’re the superstars on a business schools’ faculty.
Most enter a negotiation focused on the objective of claiming as much of what they think they want rather than focusing on what is of value to them. Focusing on the latter often means thinking more creatively to construct agreements that deliver a greater range of benefits to both parties.
The three key dimensions of negotiation are setup, structure, and discussion.
Setup involves setting a stage for a positive outcome of the negotiation.
Structure is the terms of the proposal. By thinking about the structure of your proposal in advance, you can have valuable options for your partner to consider, and potentially reach common ground.
Discussion is actually presenting the offer to the other party.
The first phase of every negotiation is the Setup: setting the stage for a satisfying outcome to the negotiation. The more you can stack the odds in your favor before you start negotiating, the better the deal you’ll be able to strike:
Who is involved in the negotiation, and are they open to dealing with you?
Who are you negotiating with, and do they know who you are and how you can help them?
What are you proposing, and how does it benefit the other party?
What’s the setting—will you present your offer in person, by phone, or some other means?
What are all of the Environmental factors around the deal—do recent events make this deal more or less important to the other party?
By thinking about the setup, you can make sure you’re negotiating with the right person—the person who has the power to give you what you want. Research is what gives this dimension of negotiation its power—the more knowledge you gain about your negotiating partner during this phase, the more power you have in the entire negotiation, so do your homework before presenting an offer.
The second dimension of negotiation is Structure: the terms of the proposal.
What exactly will you propose, and how will you Frame your proposal to the other party?
What are the primary benefits of your proposal to the other party?
What is the other party’s Next Best Alternative, and how is your proposal better?
How will you overcome the other party’s objections and Barriers to Purchase?
Are there Trade-offs or concessions you’re willing to make to reach an agreement?
Remember, your goal in creating the proposal is to find common ground. By thinking through the structure of your proposal in advance, you can prepare a few different options that you believe the other party will want.
If you’re expecting the other party to balk at the price, for instance, you can prepare arguments to overcome the objection, lower-cost options that provide less value, or alternative offers that would better fit their needs.
The third dimension of negotiation is the Discussion: actually presenting the offer to the other party. The discussion is where you actually talk through your proposal with the other party. Whatever the setting, this is the point where you present your offer, discuss or clarify any issues the other party doesn’t understand, answer objections and eventually ask for the sale.
Regardless of what happens during the discussion phase, the end result of every round of discussion is either:
“Yes, we have a deal on these terms,”
“We don’t have a deal quite yet—here’s a counteroffer or another option to consider,” or
“No, we don’t have a deal—there’s no common ground, so we’ll suspend negotiations and reserve the right to talk to somebody else.”
With time, you’ll find that you’re able to enter such situations with less anxiety and leave feeling satisfied with what you’ve got. Whether in the boardroom, classroom or interview room – you can’t go wrong by developing this essential skill.
What are we reading at Base Camp?
Beauty by Roger Scruton - “Beauty can be consoling, disturbing, sacred, profane”. In a book that is itself beautifully written, renowned philosopher Roger Scruton explores this timeless concept, asking what makes an object--either in art, in nature, or the human form--beautiful.
How Saudi Money Returned to Silicon Valley 💰
Inside Rupert Murdoch’s Succession Drama 👀
Thank you for reading our monthly newsletter- Base Camp.
If you or anyone you know is targeting Tier 1 MBA/Masters programs and need some advice, reply to this email or schedule a call 👋
See you next month!