Getting into a top business school is as much about being a STELLAR candidate as it is about putting together a GREAT application. Just as scoring well on the GMAT exam requires you to *think* in a different way, applying to “top” business schools will require you to think about the process in a different way as well.

Part 1: Being a Stellar Candidate at a Top Business School

Being a stellar candidate. This is what you spend 4 years (median) of your life to develop. You start working, understanding how business works, how people work, and what it takes to get ahead. This is your real world work experience and business schools pride in their students’ ability to contribute to classroom discussions about real world problems that business executives face.

1. Diversity in Class Profile: MBA Programs will want representation from various types of applicants

By nature, certain industries play a big role in shaping the business landscape. Investment banking, private equity, management consulting. These fields deal with business at a very high level. Schools will want about just as many candidates from various business sectors of the economy – usually no real preference for any sector unless the industry is poised for significant growth. Then a handful of candidates will be in miscellaneous fields as noted below.

So as an MBA applicant yourself, think about where you fit in given such a target class profile. Take note of the size of the MBA class you are applying to. For example, NYU has about ~400 students in their MBA class. This means that if you are an investment banker, you are competing for one of 180 Finance/Consulting designated positions. More importantly, the number of applicants of this type tend to be extremely large.

On the other hand, if you are applying from a non-profit background, you are competing for one of 20 (or even less) such designated spots. But at the same time, the number of applicants in this field tend be extremely low.

So if you find yourself comparing yourself to someone else with different credentials who got into your school of choice – think twice. You should be looking at how you stand out in the overall class profile and judge whether you would be adding value or diversity to the business school.

The figures below are *approximate* but represent a good way to think of incoming MBA Class Profiles for some of the top schools.

45% Finance/Consulting

25% Finance (banking, PE, hedge funds)

20% Consulting

45% Business Sectors

5% Manufacturing / Operations

5% Non-Profit / Education / Govt

5% Healthcare / Biotech

5% Hightech/IT

5% Real Estate

5% Communications / Media

5% Military

5% Consumer Products

5% Energy / Oil & Gas

10% Other (Advertising / Public Relations / Pre-Law / Entrepreneurship)

100% Total

2. Excelling in Your Role

- An advanced position where your role changed and you began handling underlings, interacting more frequently with clients, taking on a greater range of responsibilities. Whatever the case may be, it’s important to paint a picture of this *change* in your career. It is this change that is the foundation for your stories on tough challenges you faced, risks you engaged in, people management issues you confronted, etc.

- The technical and the managerial. Business requires technical competency. Above this standard is an industry built around people – networking, handling clients, managing below and above you, building rapport with colleagues, etc. Being a competent business professional who can work well with others is a key attribute for successful business executives.

- “Work well with others” is certainly a very fuzzy concept – but it involves communication skills that are extremely important on the job. Whether it’s oral communication, ability to build rapport with new strangers/clients, ability to hold conversation in politics, sports, business, family, travel, etc. -all of these soft skills are important and will be reflected in your recommendations and ultimately your career progression.

3. Globalization Perspective

- This largely applies to students at top business schools. The world’s future business leaders understand global dynamics, language / cultural differences, and the beauty of a global perspective. International experience for at least 6 months or more is a big plus. It is this international perspective that makes top business schools unique – and a notch ahead of other business schools.

- If you don’t have six months abroad, any experience that may help you paint yourself as culturally unique is helpful (growing up in a foreign country like Peru, Brazil; study abroad programs; internship/conferences abroad).

- If you really don’t have any of these experiences, try to seek out these opportunities if you can. But don’t sweat it. Not having an international experience that you can point to and show DOES NOT MEAN that you are a bad candidate. It just means that among the applicant pool, it’s harder for you to stand out and differentiate yourself. Think about the business of marketing products on supermarket shelves – there are a ton of great products. Sometimes consumers can’t tell the difference between two brands, but one that has a bell and whistle might just stand out as more attractive – even though its technical specifications might be lower. Just keep that in mind. For top schools, you’ll need to stand out in other ways.

Part 2: Putting together a GREAT application for Top Business Schools

1. Scoring high enough on the GMAT Exam (>700 for top business schools)

At top business schools, most admits are 700 and above with a some below. In this day and age with test prep resources available to so many students, don’t neglect this valuable resource to help you get ahead. The fact that there might be so many programs out there that might help you “beat the system”, the data continues to show that students with higher GMAT scores fare better in business schools. One important note is that scores tend to fall after the GMAT test itself changes, so watch out! In June 2012, the GMAT will add a new section (in addition to Verbal and Quant) called Integrated Reasoning. And from what I’ve seen, these questions are much more real world questions that may involve manipulating an excel-type table, looking at charts, and choosing multiple answer choices.

2. GMAT Exam >700 Even for NEAR top business schools?!

If I were to guess, I’d say more than 30% of applicants who scored 700 and above get rejected at top business schools. So where do they go? These remaining 70% of folks fill up all the other business schools that are just a notch below. And so that makes these “near top business schools” even more competitive, especially as more and more students score over 700 each year. When this happens, the scores realign and it becomes even harder to score the same score. To prevent this vicious cycle, GMAT needs applicants to score lower and so it is making a change to the exam and updating it to reflect more real world type problems. All that matters to you is getting a respectable solid score, so that the admissions committee will have interest to READ your essay.

Personally, I think scoring above a 700 requires a lot of thinking. A different way of thinking. And in my opinion the test prep companies out there were ineffective – based on everything I heard from my friends. Question after question with the assumption that practice makes perfect.

Well, smart people will realize that continual practice without guidance will NOT make you perfect because eventually you’ll reach a point where your score just won’t go any higher. It might take a movie like “Inception” to rewire your thinking, but my new assumption is that improving your score requires a different way of THINKING. And it is this thought process that I teach and that I feel is the most effective method to boosting your score. Empower yourself to THINK like a top test taker.

4. Application Essays

This is probably the most important part of your application. What is your story? Can you paint a picture for us of who you are? Do you fit the profile of somebody who has the mindset to make a big contribution in business? Everyone faces risks and problems, how have you dealt with yours in the past? What have you learned that you can take away for the future?

Storytelling skills are important here. This is vital, as admissions people are human after all, they want to get to know you and feel the emotions of what makes you a standout candidate. Let’s take, for example, a situation where you took on greater responsibilities with a client.

Story Telling Your Application

A. Assume a framework and make a concerted effort to capture the emotions associated with that framework

Take the position that you normally do analytical work and don’t interact with the client – capture your emotions of being eager, ambitious, and nervous at the same time.

B. Introduce characters and challenges

The “situation” – who are the characters and what are their roles? You can mention your boss, you, the client who might be a VP and his respective analyst. You might include descriptions like very aggressive or very lazy, maybe even unresponsive, etc. Do what you need to do to paint a picture of the “scene”.

C. Development – tell the story with rising action

This is where you talk about the project and how it progressed. You did the analysis, shared your work, got some feedback from the client and re-edited your work with those comments. Then as presentation went on to the next level, the analytical work was largely ignored and just became a discussion that went on for hours. Ultimately negotiation for the deal came down to making the other party feel comfortable – the deal was signed and you helped the firm earn a fee.

Climax / Turning Point / Twist:

So, basically the climax was just told before – the deal got signed. But more importantly for application essays, you’ll need to reinterpret this event in your eyes to capture the “aha” moment for you. This is where you talk about what you learned and how it changed you. What do you see differently now? As a result, what do you do differently now?

As an analyst, you were always focused on number crunching. But through a series of meetings at the client level, you started seeing how business was not really just number crunching. Once you got beyond this level, business was business. In fact, it blew you away that the number crunching that took you hours to work on was not even mentioned in discussions with the client. You started seeing that business was much more people oriented than you had imagined before. As a result, you started lifting up your head and thinking about how discussions with the client would go. You would get through your number crunching as fast as possible, then immediately start thinking about higher level business questions on your own. You took more responsibility to think at a higher level before discussing with your boss – consequently you became more prepared to handle discussions with clients and began contributing more at this higher level.

This is just one way to tell your story which paints you as someone gradually rising the ranks. This is a great attribute. At the same time, be careful of how you tell your story because that is how the admissions committee will brand you and perceive you. Remember, they are going to want a diverse student body with diverse perspectives. If you have a unique story that can be told using the same storytelling elements described above, then you’ll have an edge.

5. Recommendations

Hot Shot Recommendation: In the business world, recommendations are social proof. Getting one from a big name guy in the industry who is widely recognized is a huge plus. If your boss is a hot shot or your client is a hot shot (CEO, CFO, Founder, etc) etc, then fantastic! All of these guys can give great recommendations. While it’s a great leg up, it’s still important for them to convey how you were a business success for the firm. When it comes down to it – how did you bring in money for the firm or save money for the firm? What about people skills – did you facilitate business moving forward through your ability to work well with others? Did the CEO/CFO like you? Or did conflicts ultimately get in the way of business achievement?

How likely are you to get a hot shot recommendation? This largely depends on where you work – it’s rare to get this type of recommendation.

Boss Recommendation: Typically a candidate may have several bosses. As you’ve worked for them, typically they can gauge how well they work with you, how smart they think you are, and how capable of success in the business they think you are. If your boss loves you, he’ll write a genuinely positive recommendation for you – emphasizing certain character traits that stand out. Hopefully there’s one meaningful/impactful project that he can point to and show how you stepped up and contributed. Top business schools stress an assessment on communication skills – both oral and written – this is a fuzzy concept as I described above. But generally, companies with reviews will mention this. In general, make sure you’re on your boss’s good side. Express your opinions. Find common ground with your boss on topics that are interesting to the both of you. Building rapport is important as it creates a lasting impression of you.

Busy Boss Recommendation: In a lot of cases, your boss will be busy and will have to go out of his way to write your recommendation. To make his task easier, jot down key accomplishments you would like him to note in bullet format. Ideally, a recommendation is most meaningful when the recommender can write about a particular instance that allows certain positive character traits to stand out.

Ultimately, applying to business school is a complex process that is long-term (your 4+ years of work experience), challenging, and self-reflective (application essays).

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Six Sigma is a way to help a business improve when facing business while also works before there is a problem. Six Sigma is a program that presents special principles geared toward management.

Businesses are starting to use this more and more to help their business including help for the processes, workers and customers. Some companies are still holding off using Six Sigma because they are not sure it is a program for them. They are concerned that it will work for them. Many look into Six Sigma and even see how other businesses are progressing on the system before deciding to implement Six Sigma. They want to be sure.

The use of Six Sigma in business forecasting helps a business success because it deals with actual figures. The facts of the business and statistics are reviewed to help management determine what is working and what is not working. Six Sigma is a scientific way of finding ways to make improvements. Data is gathered related to the way business is done then it is reviewed. This will help them make a plan that is improved through knowledge. It is becoming more important for businesses to improve the way they do business because Six Sigma will make the customers more satisfied.

Employees go through Six Sigma training that has different levels. Each level presents more information than the one before, but they build on each other. Management employees then take and exam to earn certification. They bring their knowledge to the workforce to apply to everyday operations as well as to help fellow employees. This is designed to lead to business success, employee productivity and satisfied customers.

The limitations of Six Sigma when it comes to the business world exist too. It is important for this to work is that management goes through the steps set forth in the training but they also need look at the business on a level related to the actual business. Not every business is exactly like another so that means they need an approach that is geared toward their need. It is more important to implement the tools of Six Sigma for most businesses to find a new way to improve the way the business is run. Six Sigma is an ongoing process. What works today might need to be improved tomorrow so evolution is ongoing. It is bets to keep your own self abreast of the latest developments and see how the new implementations can help.

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Many people have turned their love of cooking and entertaining into a good living by starting catering businesses.

Catering is a multi-billion dollar industry in the U.S. and as one of the fastest growing segments of the food and beverage industry, the catering business offers great opportunities for those wanting to start a small business with a low start up cost.

In this article we will look at catering business profits, earnings and salaries and how much money it is really possible to make in this industry. Then we will examine some of the things that separate the really successful players from the amateurs.

Is a $100,000 Yearly Profit Possible in Catering?

Many people consider a $100,000 pre-tax salary or profit to be a benchmark for success and they wonder if they can reach this level of earnings in catering.

Most small catering business owners who put in the effort can expect to earn between $20,000 and $40,000 profit per year for the owner during the first couple of years. After a couple of years in the business, you can easily scale up to earning a ‘six figure’ annual income from catering.

Tips for Getting to the ‘Six Figure’ Level

1) Forget catering from your home kitchen if you want to get to this salary level. Business savvy caterers do volumes that require them to either rent commercial kitchen space by the hour, arrange access to restaurant kitchens during off-hours or focus on ‘on-premises’ jobs only and use the kitchens of their clients.

2) Successful players love spending time creating menus, following food trends and interacting with people without neglecting the business side of catering.

3) Start to create a powerful brand right from the start with your logo, company values and unique service that will grow into a valuable asset that allows you to command a premium price for your catering services in the market.

4) Develop systems for every part of your business to streamline day-to-day operations. Analyze the way that you and your staff work and strive to increase productivity.

5) Understand that there are ‘niche’ markets within the catering industry that you would never think of until you really start looking. Top caterers find these untapped opportunities, and carve out a business catering to the specific needs of these groups.

6) Perfect the process of consulting with new clients and learn how to politely up-sell them on some of your more expensive offerings.

7) Realize that you are leaving money on the table if you don’t also up-sell additional event related services to your customers.

Learn how to hire, train and organize a small team to assist you with food preparation, delivery, service, and even sales if you want a realistic chance of getting to an income level above $100,000.

9) Don’t neglect traditional advertising methods but also pursue other modern marketing methods such as networking, cross promotions and guerilla marketing.

10) Successful caterers also recognize the importance of customer referrals. Customers may introduce friends to you because they like your food and services but there are also other ways to get them talking about your company.

To get started on the right track, do as much reading as you can about general small business management and the catering business specifically. Many highly successful caterers have published start up guides and you have a chance to learn from their mistakes instead of making your own and you can benefit from their expert advice and insider tips.

It is possible to make a lot of money in the catering business if you put in the effort. Reaching a level of earnings that will allow you to make a ‘six figure’ salary from your catering business is entirely possible within your first two years in business.

Article Source:

http://EzineArticles.com/?expert=Robert_Sutherland

When any person is planning to avoid the limits of the traditional working environment, 1 of their key resources of possibility is found with the internet. The web has become a leading supply for people looking for a new primary resource of income or even with generating a supplementary supply of income for their financial profile.

Though for the new business owner, on line success is not guaranteed which is why when an individual is looking to start an online business they look into comprehending the concept of SEO Search Engine opportunities. With these Opportunities a new site could speedily become a leader in regards to the goods or services they provide.

A brand-new online business owner may question how this quick opportunity for online superiority is achievable with SEO Search Engine Opportunities. To realize, this person ought to initially identify the purpose of this Engine and after that interpret the psyche of the on-line consumer. The SEO Search Engine is an on line feature utilized by consumers to find web sites that are relevant to them through the use of inputted keywords.

Once these keywords are inputted into these Engine it produces a list of results for the customer based on a sites keyword and SEO Search Engine Optimization. These lists often have 1000s of results with the websites and the most efficient SEO Search Engine Optimization at the top.

Now that you have recognized the role that SEO Engine Opportunities play in the online atmosphere, it is essential to consider the psyche of the on-line consumer. The internet has helped in producing an era of convenience that most individuals are now used to. With this idea of convenience securely planted into the mentality of the on line consumer you can see how they would interpret the SEO Engine results.

Its rare to find a consumer who will travel past the top five results of a SEO Engine search. This means for a company to succeed in bringing new consumers to their business they ought to accomplish a high SEO Optimization level so as to become a top 5 SEO Search Engine results competitor.

With this understanding acquired, this is how a new on line company could become a quick online leader through the usage of SEO Search Opportunities. It is important to recognize though that achieving those high Search Engine Optimization levels is not easy to achieve. With that understanding it is important to find a resource that can aid your company in quickly becoming an on-line leader.

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