The only thing you need is PSD

There is a time and place when degrees are necessary. I have mostly seen these necessary in large companies, science businesses and consulting. However, in most disciplines, what matters above all else is execution. In these cases, having a bunch of Ph.D.'s in a room can actually hinder your performance. Come to think of it, there seems to be no correlation between advanced degrees and career advancement.

I share with you an alternative model for hiring. Instead of MBA or PhD, look for the PSD. PSD standards for poor, smart, and driven. There are winners and losers in life. At the risk of sounding cliche, knowledge can be acquired but attitude can not. The message from entrepreneurs consistently states that persistence is a key trait for success.

So how do you test if someone is PSD? Well, there are actually a couple ways to tell. What's the candidate's work history? Have they run a paper route for at least a year's time? Did they work for a family business when they were younger? Have they done anything to demonstrate hard work ethic, and a scrappy, results oriented nature?

There is nothing that can not be accomplished if you are PSD, and not afraid to make a bunch of mistakes.