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Meet Entrepreneur & MBA Student, Tim McCormack

Meet Entrepreneur & MBA Student, Tim McCormack

June 25, 2009

How has your business education benefited your entrepreneurial career thus far and vice versa?

A lot of the things I learned in the University of Phoenix program while I was in the Dominican Republic, I was doing at the same time. I like to learn as I go.

How do you plan to utilize your MBA in your career?

My career may look a little scattered, but there is some cohesiveness. I started in sales, went into managing sales/general manager, from there it’s grown into the Internet, because that is one of the common markets. I’m looking to get into a big Internet companies like Google or Yahoo. I’ve worked in such small companies, I want to take a turn at one of the large companies to see how they work differently, and eventually I’d like to open my own business. It’s a lot about contacts as well, if you get into the right company, you make a lot of great contacts.

What are some common myths about the business profession?

There are a lot of them. I think most are true, yet again, untrue. It depends on where you are. Some industries are very dog-eat-dog; others are a lot more cooperative.

Underestimating the impact of the change to the business world into a global economy is the biggest myth, though some people take it seriously. If someone tells you that outsourcing isn’t going to be a big deal, that would be a myth. It’s going to happen so much more; I was living abroad in a country where a fulltime web programmer with five years experience thought $500 a month was a good solid wage. We are going to see a lot of major shifts in a lot of major fields that we couldn’t even imagine would be outsourced.

Who (or what) are your biggest inspirations?

To me the things that can be done over the Internet are inspiring. I look at Google as an inspiration, personally. What I see as the underlying philosophy in Google is that obviously they are a profitable company and making money, but it seems to have an altruistic goal to organize the world’s knowledge, and it’s revolutionizing and changing the world. Microsoft is netting something like a billion dollars a month in excess profit, yet they go around crushing other companies.

What do you consider your greatest success thus far? Biggest setback?

My greatest success at this point is that I did so well on the GMAT, I got a 720, in the 96th percentile, and I can’t say that was a result of a lot of work, I only prepared for a month.

My biggest failure would be that I didn’t finish college all the way through the first time; my funding dried up, but I could have done it somehow; I definitely regret dropping out rather than staying in. Though I think it would have been harder to get into grad school if I had stayed in the first time around; I did get better grades later.

Do you feel that is important for someone to be passionate about the field of business in order to be successful?

If your business is art, you just have to be passionate about your art, to facilitate your art. If your business is a professional manager, a CEO, then you need to be passionate about it for success. After all, this is going to be what you are doing a minimum of 40 hours a week.