If you take the annual budgets of 142 countries, including Cuba, Jordan and Lithuania, and add them up, they won't amount to $19.2 billion.
Yet in the year 2000 that sum was Harvard University's endowment. If you're thinking, “Wow! That's amazing!” there's another “wow” coming up.
In 1999, Harvard's endowment was $14.4 billion. In one amazing year, Harvard University's wealth jumped nearly a third. What's fascinating is that the $4.8 billion dollar increase alone was larger than the total endowments reported last year by some of the nation's other top universities, including the Massachusetts Institute of Technology ($4.3 billion), Columbia University ($3.6 billion) and Dartmouth College ($1.7 billion).
So What's Harvard University Doing That You Aren't?
Mmm… Good question. And one worth answering. Because Harvard's structure and marketing system can teach us one heck of a lot.
Let's get into the classroom, shall we? And while I'm at it, I'll take a real business example to make the leap into understanding not too difficult: Business Case Study: An Imaginary Web Hosting Company Called WebGhostum.
Harvard Lesson No. 1: Teach Your Clients Well...