I am often asked if I feel that it is necessary for someone to get an MBA to be successful in business. In my opinion  a traditional MBA is of unique value when:
•    The job you aspire to requires you to have one.
•    You can get admitted to a top-tier business school where you’ll have the opportunity to build a network with alumni that will help you get a job when you graduate.

•    You pursue an MBA in a specialized field and have the opportunity to work closely with a professor who is recognized as the world leader in that area.
Other than those situations, attending classes to earn an MBA will not make all that much difference in your career.
Don't get me wrong; the information that you learn on the path to an MBA is extremely valuable. But you don’t have to sit in a classroom to discover it. You simply need to dedicate yourself to lifelong learning and pursue what many call a "personal MBA" through steps like these:
1. Read. Research shows the average college graduate reads less than one nonfiction book a year. So, if you commit to reading one self-improvement or business skills improvement book every other month—just six books a year—you will be in the top 1 percent of people who read for self-improvement. That alone will elevate your business knowledge to a point where you’ll stand out even in a room full of MBAs. (See sidebar for my top 25 business books.)
2. Search the Web. Another great place to learn business information—as valuable as you would get in any MBA course—is one of the multitudes of educational and business-oriented Web sites. One of my favorites is personalMBA.com. It is run by my good friend Josh Kauffman, who has assembled some absolutely fantastic resources to help you build a self-learning curriculum. I also think the folks at 800CEORead have done a magnificent job of creating a Web site to help you pick the very best business books. I am also a huge fan of the Harvard Business Publishing Web site (harvardbusiness.org.), where for a small fee you can download any of thousands of articles on virtually every aspect of business, management and leadership.
3. Listen. If you don't like reading, try Audio-Tech Business Book Summaries (www.audiotech.com). I have subscribed for years. The service is $149 a year and you get two 45-minute CD book summaries every month. Also, if you have an iPod, iTunes has a section called iTunes University where you can download literally hundreds of speeches and Web casts from prestigious universities and top thinkers for free!
4. Ask. Lastly, never underestimate the value of simply requesting help. Surround yourself with a group of very smart and talented people to whom you can go for advice and feedback. And, create a "mastermind group" of colleagues and mentors who can recommend articles, books and other information for you to study.
Do you need an MBA? I don’t think so. Do you need the knowledge that comes with getting an MBA? Absolutely!

John Spence is the managing partner of Flycaster & Company, an Alachua-based firm that delivers strategic branding, design, advertising and employee development services to clients worldwide. His new book Awesomely Simple will be published by Jossey-Bass in September. You can reach him at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .