Well it certainly was a drawn-out process because I knew for about 2-3 years that I wanted to go back to school and earn an MBA. However, due to various life events (that I will call the “happening period”) — marriage, birth of my first child, work, etc. — it seemed that I would have to wait a little longer to fulfill this goal of mine. I’m glad things worked out the way they did because now the timing is right for me and my family.

I wanted to get an MBA to: 1) acquire knowledge and skills I can immediately apply in my current position; 2) help increase my visibility within the organization; and 3) have the flexibility to grow my career and adapt to the new global work environment.

During the “happening period,” I took the time to research various MBA programs and tried to find the one program that was the “right” fit for me. I researched MBA programs online, reviewed magazines/newspapers (US News & World Report, Forbes, Financial Times, NY Times) and spent a lot of time on the UNC Kenan-Flager website.

I talked to couple of colleagues who completed an MBA while working and I was also fortunate to have other colleagues who are currently earning their MBA at UNC. In addition, I attended an event put together by the Kenan-Flagler staff to learn more about the MBA experience at UNC, and in the process I met some very enthusiastic alumni who really helped solidify my decision to get an MBA there.

Finally, I looked into my company’s support for people who wanted to further their education while on the job and started talking to my manager about my goal to get an MBA.

Once I felt that I had enough information to make a decision, the rest was easy — and here I am writing this blog. I still have many questions about immersion weekend, classes, professors, classmates, etc.  I know it won’t be long before all the pieces of the puzzle come together. For now I’m just ready to ”Begin My Beyond.”

“It’s been a long journey for all of us, families included. Though, looking back, 20 months has flown by faster than any of us might have imagined. So what did we learn during this whirlwind of class, study and stress? What did we get for our time, effort, and thousands of dollars in tuition? I think most of us learned how to sleep less and drink caffeine more. We studied and then, in some cases, forgot all the classic business school subjects – Accounting, Statistics, Finance, Econ, Strategy, and the like. We read Michael Porter until our eyes burned, and we learned that at least 23 academic frameworks and possibly a primer can be applied to every business problem. And while these proved worthy pursuits, the more important lessons may have been realized during the act of studying them.

In the process, we learned how to work in diverse, geographically separated teams and discovered how effective good teams can be. We also learned how to manage our time more effectively ever before. We balanced the responsibilities of demanding jobs and family life with those of graduate study. Many of us did so in the midst of a host of life changes, including moves, weddings, too many babies to count, and one set of triplets. And yet, we’ve all found time we never knew we had for weekly conference calls, “learning-experience-style” exams, papers, presentations, and on and on. We became unimaginably productive, and the quality of our work rose even as the time it took to complete fell. Though we may not have realized it at the time, the rigors of the program propelled us to a level of professional and academic excellence beyond our wildest expectations, and the effect of this experience proved far more consequential than more concrete concepts such as the five forces model or the CAPM.

As we graduate today, our mastery of these new lessons begs the question, what should we do now that we’re finished? How do we maintain and apply the lessons of the last 20 months? As one of the younger members of our class, I’ll answer this by drawing on the wisdom of someone much older and wiser. Aristotle is quoted as saying:

Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.

After the past 20 months, we’ve done the hard part – like it or not, the EMBA program provided a great deal of “training and habituation.” Now our challenge is to maintain the excellence we’ve achieved here in the months and years to come.”

Click here to read Taylor’s full speech.

As a result of my desire to take TekTone to the next level, I started my EMBA program at UNC in 2007. Within the first few months, my previously held beliefs about business were all being challenged. The program forced us to consider different perspectives and focused on the importance of leadership and development.

When I completed the program in 2008, I was a completely different person and realized that I could have a much larger impact on the company than I previously expected. Because of the diversity of the program and focus on all facets of business, I felt comfortable taking over several additional departments and leading them toward a common goal. As opposed to managing two departments, I was leading several departments across the company and developing new leaders to continue the change. The EMBA program challenged me and gave me the skills and confidence required to accomplish and redefine my goals.

To learn more about my MBA experience, feel free to connect with me on LinkedIn.

Where I am now is a direct result of the MBA for Executives Program. I had a great career in corporate America with no intention of leaving it. But, while completing my MBA, I caught the entrepreneurial bug.

It all started because I was stressed from balancing school and my job, planning a wedding (I got married while in the Program!), and not having an idea for my MBA for Executives Project. So, I went to a spa to clear my mind.

While lying on the massage table, I had an idea that changed my life: My project would be a market feasibility study for a relaxing spa where people can get professional advice on health and wellness. I completed the study and the results were favorable, so I decided to follow through and actually launch the business.

The scary part was deciding to leave a well-paid job to build from scratch, earn next to nothing initially, and take on the risk and opportunity cost (learned about that in the Program) of a new business. It was one of the hardest, and best, decisions I ever made.

I quit my job, opened the first Iatria Spa and Health Center, became its CEO, and (as if I didn’t have enough to balance) learned that I was pregnant!

Meanwhile, Iatria was growing faster than my belly! My new team building skills were critical to the company’s success. I had to identify talent, match skills with needs, and provide development opportunities.

Iatria has since been recognized by Day Spa Magazine as the Top Medical Spa/Day Spa Chain in the U.S., received First Place among mid-size businesses for Best Places to Work in Triangle Business Journal, and made the Inc 5000 List for Fastest Growing Private Companies in the U.S. …and my 8-year-old daughter is thriving, too.

The professors I had at UNC are amazing lifelong mentors. In fact, they inspired me to teach marketing and branding at University of California (in my spare time!). And teaching brought international consulting opportunities, which ultimately turned into…yes, another new venture.

This year I handed over the reins to my capable Iatria team, so I could focus on my new consulting business: Aesthetic and Medical Practices, LLC. My clients range from some of the world’s largest companies to budding entrepreneurs with a dream. It’s incredibly rewarding. My success is a direct result of my time at UNC Kenan-Flagler, and helping others reach their entrepreneurial goals is my way of paying it forward.

Update:  Since this original post was written, Erika joined the Laser Spine Institute as Vice President and Executive Director.

I got the idea for my business while working for Kimberly Clark. My job was to help them reduce their environmental impact. I worked on everything from energy conservation, recycling and waste reduction to cleaning up environmentally contaminated sites. One of my responsibilities at KC was to help demolish a paper mill built in the mid-1800s. This project really got me thinking about how cities developed over time and how the disappearance of manufacturing facilities was transforming communities across the country. Having grown up in Durham, I knew there were a lot of abandoned historic buildings, many of them tobacco related, that needed some creativity to re-imagine. The manufacturing uses had left but the history and character remained. Taking that “potential” and turning it into a business model was certainly not going to be easy.

When I started the MBA for Executives Program, I was worried that I may have bit off more than I could chew, but starting a new business while earning my MBA had benefits I couldn’t have anticipated.

One of the reasons I chose UNC for my MBA was because of its reputation in sustainable enterprise and entrepreneurship. UNC offered more networking opportunities with faculty and students who shared my values and goals for combining for-profit ventures with social enterprise. My intuition really paid off – in fact, my first investor was a classmate, Stephen Mangano, who is now one of my business partners.

While attending the Program, I was able to apply my new knowledge immediately. During the Negotiations course, I was mired in difficult negotiations with a general contractor. This class helped me recognize the importance of identifying and addressing their needs and creating an outcome that satisfied both parties. Rarely is there a day that I don’t have an opportunity to use the skills I sharpened while taking this class.

I’ve also found the global immersion course focused on real estate development incredibly helpful. During the trip to Australia, we met with local bankers, investors, developers and city officials who answered detailed questions about local real estate projects that we toured. I learned how people in Australia think about real estate development, deploy capital and create vibrant, high density, urban environments.

Our business has grown very fast – a result that’s tied directly to people having confidence in our ability to make good business decisions. The UNC network has played a large role in this. Before meetings with my bankers, I had the opportunity to talk with classmates in the banking world. They helped me understand what drives lending decisions so I could target my presentations and be better prepared for my meetings.

By the time I finished the Program, Greenfire had acquired six buildings in downtown Durham and completed its first $3 million redevelopment project. Four years (and 19 employees) later we now own 31 properties and we’re working on a $300 million redevelopment project that should help transform the entire city center into the dynamic, sustainable, and diverse community that we originally envisioned. Clearly my experience in the MBA for Executives Program has played a critical role in this success.

When I entered the Program, my career goal was to have an overseas assignment, but I didn’t expect to be handed a guaranteed promotion. Instead, I saw earning an MBA as an investment in myself; I took responsibility for the long-term payback.

I attribute my success to making a conscious effort to apply what I was learning in the Program to my job. Whenever possible, I used class papers and projects as an opportunity to analyze or solve a problem at work. For example, my Strategic Economics course project allowed me to apply game theory and linear regression to solve a critical supply chain issue at work, which I shared with my manager. This allowed me to demonstrate new skills that could add value to my organization.

As a result, I received two promotions while still in school. The first was from 6 Sigma Black Belt to Order Fulfillment Systems and Processes Manager. The second promotion was to 6 Sigma Master Black Belt, which also brought new challenges. This role required frequent travel and initially required a good bit of formal training. The first six months were especially challenging, but it was manageable for that limited time.

Now that I have graduated, the payoff continues. On January 1, I received a third promotion to my new role as Supply Chain Manager for Caterpillar’s Indian operations. Luckily, the emphasis the EMBA Program places on global business, including elective courses such as Global Leadership, helped me appreciate the importance of understanding the local culture wherever I work.

Of course, I could not have done this alone. My husband demonstrated incredible support by giving up his career and staying at home with our daughter. This was not an easy decision for either of us, but we felt that such an endeavor would be more difficult when she is older. I’ve also benefited from great mentors. I believe that doing the best job I can for my manager and organization motivates them to do the best they can for me too.

Completing an MBA program while working fulltime, moving to India, and raising an infant — none of these are easy, but the rewards are worth it!

PS: The family photo below was taken outside the front gate of our new home.

The pursuit of an MBA at a top-ranked b-school like UNC demands a big investment in time, effort and money. And naturally, you want to know what you’ll get in return.

If I could gaze into my crystal ball and proclaim, “within X months of graduation, you’ll break even on your investment, and it’s gravy from there,” I would.

Perhaps, like many of our students, you could devise your own ROI equation and calculate a breakeven salary and how long it will take you to reach it.

But I don’t think the answer is that simple.

Why? I believe “ROI” isn’t tied to solely to money. While many students see significant raises, even while they are still in school, some don’t–and are still delighted with their ROI.

For example, Brad Walters, Weekend Class of 2001, earned a fine living as a surgeon, but he longed for new challenges and opportunities. He earned the degree and moved to work in a venture capital firm, making less money, but with a career that reenergized his life. How do you put a dollar value on his ROI?

The real value of an executive MBA program is whether it helps you reach your career and life goals. We’ve found three types of business people benefit most: climbers, shifters and launchers.

Climbing the corporate ladder

Climbers are headed up the corporate ladder and realize that “MBA” on their resume will help them reach that top rung.

They enter an MBA program to master quantitative skills and become fluent in the many numbers-oriented languages of business. But along the way, climbers realize that it’s what some call the “soft” skills–strategy, leadership, communications, teaming–that will set them apart in the upper echelons.

UNC’s MBA for Executives Programs are known for their strategy focus. Our curriculum is built on the key management skills climbers need: analyzing environments, building strategies, and shaping leaders.

The highest and fastest climbers volunteer for new assignments at work. They look for ways to apply their knowledge back on the job, adding immediate value to their company.

Shifting careers

Career change is top-of-mind with shifters. They want to shift functions within their company – perhaps moving from engineering into management. Or they want to change industries–maybe moving from manufacturing to marketing.

For shifters, career success is based on know how, and know “who.” The professional network they build in an MBA program is invaluable. They may find a new job in their area of interest. Or they can baseline their skills against classmates in the career they desire.

Shifters thrive in a collaborative, team-based environment. We mix up the teams–bean counters and poets, engineers and philosophers–so everyone learns from everyone else. So, if you’re that engineer, you can learn about employee communications from your teammate who works in HR. And you may help the HR manager run the numbers for your team project.

Many shifters choose UNC because they can customize their MBA to fit their career goal. Weekend and Evening MBA students choose at least 10 courses from more than 40 electives, including global immersions. Few, if any, top-ranked b-schools offer more choices.

Launching a new business

Finally, the founders–those who dream of starting their own business. Of course, there are wildly successful entrepreneurs who never took a single business course.

But for many launchers, the MBA experience gives them the business skills and knowledge needed to turn their dream into reality. And the network they build during the MBA program gives them a valuable source of future investors, partners, customers and suppliers.

The real ROI

In the end, though, the real ROI for an MBA is better thinking. You’ll learn to think through complex problems in a more disciplined way. And, just as important, you’ll learn to drive results based on your thinking. These are the skills that accelerate careers.

But, don’t take my word for it. The best way to estimate the value of an MBA is to talk with others like you.

So, watch the student and alumni videos in the EMBA Preview. Come to an information session. Visit a class. Talk with our students and faculty.

These real people will help you answer, “Is it worth it?”

You’re at that critical point in your career: you need to do something. You have decided that an MBA is probably the right step – now you’re narrowing down your choices. I know, because I’ve been there.

But before you leap into any MBA program, realize that it’s not a cure-all for your job. It can’t instill passion for business; it can’t create talent; it isn’t a replacement for solid work experience.

After leaving college with an engineering degree, I worked in consulting, accounting, information services, programming, customer service…the list goes on. This wasn’t the most efficient means of climbing any corporate ladder. These choices I made were more to bring home a paycheck than they were to advance a career.

By 2002, I was working in the communications industry. Even though I had business experience, I had been labeled “engineer” with my company since it matched my current job title. My director suggested an MBA would give me added credibility if I wanted to move into management.

After doing some research, I decided to attend an information session about the Executive MBA options at UNC. It had been 17 years since I graduated from college – was more formal schooling the right ticket? I had attended company-sponsored education and a lot of technical training, but a degree? It’s a big investment in time and money. Would it be worth it?

I decided to take the plunge. I chose UNC’s OneMBA Program because I wanted to move into global management, and I’m glad I did. The MBA experience helped me build an internal framework for all that diverse experience I gathered over the years, and helped me leverage that experience for my own personal growth.

As a result, I changed careers and companies. Instead of being labeled “an engineer with business experience,” I am now a business development manager with an engineering background. Instead of doing technical designs, I am working on financial proformas for large global projects.

Here’s my takeaway: If the only reason you want an MBA is to earn more money or get a better job, you’ll miss the real value. Consider your MBA experience as a time to become more self-aware, a place to learn business methodology/skills, a forum to share work experiences with other students, a laboratory to practice international skills, and a new home to build friendships.

Now, I feel like I’m tapping into all my strengths. Whatever path you select, I hope that you will too.

Listen to students and alumni explain why they chose to earn their MBA at UNC Kenan-Flagler.

Is the return worth it?

Selecting the right school can make the difference between graduating with a lackluster MBA and one that packs a wallop. Here are some tips for making the right choice:

• A real MBA: Look for a rigorous curriculum, ideally from a top-tier b-school. You want an MBA that will be recognized wherever your career takes you.
  At UNC, you earn the same degree as graduates from our traditional MBA Program.
• Good value: Run the numbers and find the program that offers the highest quality education for the money and time you’ll invest.
  UNC offers the best value of any top-tier executive MBA program.
• Immediate application: Your payoff should begin from Day 1. Look for a curriculum that allows you to apply what you learn on the job and fits your career goals.
  Our students apply what they learn right away – often the next work day.
• Professional network: Your classmates will be a valuable resource through out your career. Make sure the school attracts people you’ll want on your team – now and in the future.
  Alumni say the UNC network is a great resource throughout their careers.