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How to Write a Strong Personal Statement

• Ruth Gotian
• Ushma S. Neill

A few adjustments can get your application noticed.

Whether applying for a summer internship, a professional development opportunity, such as a Fulbright, an executive MBA program, or a senior leadership development course, a personal statement threads the ideas of your CV, and is longer and has a different tone and purpose than a traditional cover letter. A few adjustments to your personal statement can get your application noticed by the reviewer.

• Make sure you’re writing what they want to hear. Most organizations that offer a fellowship or internship are using the experience as a pipeline: It’s smart to spend 10 weeks and $15,000 on someone before committing five years and $300,000. Rarely are the organizations being charitable or altruistic, so align your stated goals with theirs
• Know when to bury the lead, and when to get to the point. It’s hard to paint a picture and explain your motivations in 200 words, but if you have two pages, give the reader a story arc or ease into your point by setting the scene.
• Recognize that the reviewer will be reading your statement subjectively, meaning you’re being assessed on unknowable criteria. Most people on evaluation committees are reading for whether or not you’re interesting. Stated differently, do they want to go out to dinner with you to hear more? Write it so that the person reading it wants to hear more.
• Address the elephant in the room (if there is one). Maybe your grades weren’t great in core courses, or perhaps you’ve never worked in the field you’re applying to. Make sure to address the deficiency rather than hoping the reader ignores it because they won’t. A few sentences suffice. Deficiencies do not need to be the cornerstone of the application.

At multiple points in your life, you will need to take action to transition from where you are to where you want to be. This process is layered and time-consuming, and getting yourself to stand out among the masses is an arduous but not impossible task. Having a polished resume that explains what you’ve done is the common first step. But, when an application asks for it, a personal statement can add color and depth to your list of accomplishments. It moves you from a one-dimensional indistinguishable candidate to someone with drive, interest, and nuance.

• Ruth Gotian is the chief learning officer and associate professor of education in anesthesiology at Weill Cornell Medicine in New York City, and the author of The Success Factor and Financial Times Guide to Mentoring . She was named the #1 emerging management thinker by Thinkers50. You can access her free list of conversation starters and test your mentoring impact . RuthGotian
• Ushma S. Neill is the Vice President, Scientific Education & Training at Memorial Sloan Kettering Cancer Center in New York City. She runs several summer internships and is involved with the NYC Marshall Scholar Selection Committee. ushmaneill

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Personal statement examples business studies personal statements.

Discover personal statement examples written by students accepted onto business studies and related courses. Read through the examples to help shape your own personal statement.

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Writing a Business Personal Statement: 7 Steps to a Stand-Out Application for Your Students

James is senior content marketing manager at BridgeU. He writes and directs content for BridgeU's university partners and our community of international schools

• Answer the fundamental question of a business personal statement
• Sell their suitability in their business personal statement
• Identify relevant experiences to include in the business personal statement
• Identify the areas of business that most interest them
• Think about what they want to learn next
• Come up with a compelling structure for the business personal statement
• Create the business personal statement

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Business subjects are some of the most popular around the world, meaning competition is stiff! Help your students secure top spots with these 7 steps for writing business personal statements.

The business personal statement is probably something you’ve contended with a lot as a university counsellor. After all, business and its related subjects are some of the most  popular degree subjects  and  majors  in the world!

But writing a personal statement for business can be tricky. It’s a subject that requires a diverse blend of skills. Students need to be mathematical, analytical and logical, but also have entrepreneurial spirit and creative flair. Strong leadership and communication skills are often at play, too, particularly for degrees focused on management.

So how can you ensure students’ personal statements hit all these criteria, capture who they are  and  make them stand out from an ever-growing crowd of applicants? All while keeping to the personal statement’s notoriously tight limit of just 4000 characters?

Don’t worry, we’ve got you covered. We’ve created a clear 7-step process for writing a business personal statement. By the end, students will have a memorable, impactful and totally personalised essay!

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Learn how BridgeU can help students research a wider range of vocational courses.

Step 1: Answer the fundamental question of a business personal statement

The first step is perhaps the most important: interrogating  why  they want to study business.

The strongest personal statements showcase a well-rounded interest in business. Therefore, it’s a good idea to suggest that your students jot down some motivations in each of these categories:

• Intellectual
• Professional

Another helpful technique is thinking about how they chose which universities and courses to apply to. Different countries and even universities structure business degrees differently, and have different focuses, specialisations, approaches… So what factors did your students use to narrow down their options? What do their top courses have in common – and why?

These questions can uncover the nuances of what they’re looking for in the degree, and what they’re hoping to get out of it. And that makes a compelling business personal statement!

We want… a personal insight into the applicant, something that goes over and above their academic achievements and includes their motivations, their ambitions, how they chose their university course, what they feel they could contribute to our community, and what it is they seek from their university experience.” Dr Trevor Bolton:  Pro Vice Chancellor & Dean Of International Business School, Anglia Ruskin University

Step 2: Sell their suitability in their business personal statement

Once they’ve drafted ideas about  why  they want to study business, encourage your students to think about why they  should .

Here, too, you can add structure to their ideas using handy categories.

1. Their personality and characteristics

Students should keep in mind that a business personal statement – like any other – needs to reflect who they are.

What is it about their personality that’s well-suited to studying business? How does this match their career goals? Which characteristics set them up for success at university?

2. Their skills and interests

Universities want to see a curiosity that takes students beyond the curriculum, and the relevant skills that their curiosity has developed. 

Are they maths wizards? Do they have an eye for investment? Have they helped their parents file their taxes? Do they have an in-depth knowledge of a particular economic paradigm?

Some other topics and areas to include:

• Recent news stories that have caught their attention
• Business-related blogs or publications they follow
• Related podcasts they listen to
• Lectures they’ve attended
• Public figures who inspire them

Step 3: Identify relevant experiences to include in the business personal statement

As business is a vocational pathway with infinite real-world applications, universities want to see that students have engaged with ideas and practices outside the classroom, and that their passion has driven real action.

So here are some things to consider:

• Work experiences/placements
• Extracurricular activities
• Extended projects
• Summer school  or other courses
• A passion project they’ve pursued outside school (e.g. an online homemade candle shop, a business blog)

For some extra inspiration, check out this video of Melissa talking at one of our student events about choosing experiences for her business personal statement!

Above all, students need to think deeply about each experience. They shouldn’t just write  what  they did. Instead, have them think about why they decided to do it, and what they learned. Again, this will offer a better indication of who they are, and show that they’re insightful, interested and introspective.

And to give their business personal statement that extra pzazz, see if students can link some of their experiences to current affairs or real-life examples in the business world!

Choosing experiences and skills for a business personal statement

We know that your students probably have a veritable cornucopia of experiences and skills to draw from. To help you narrow them down to that 4000 character limit, here are some of the qualities that admissions tutors look for in business personal statements.

• Enthusiasm and curiosity for the subject
• Initiative and innovation
• Individuality and personality
• Independent learning
• Problem-solving
• Setting and hitting goals
• Communication
• Quantitative skills
• Essay-writing skills
• Entrepreneurship
• A global mindset

[In business applicants, we look for] the abilities to think and work independently, follow complex lines of reasoning, demonstrate logical thought processes, solve problems and communicate accurately and succinctly” Will Breare-Hall:  Student recruitment and study abroad manager

Choosing Experiences for a Business Personal Statement

Step 4: identify the areas of business that most interest them.

For such a competitive and broad subject, simply being passionate is not enough to stand out. Students need to show a thoughtful, individual and developed interest.

Have students write down the topics, classes, projects or sources that have really captivated them in the course of their studies. It doesn’t have to be in a dedicated business class – universities know lots of students don’t have the chance to study business before university!

But they’ve likely encountered economic arguments in history or politics, or practical applications of maths techniques, or theories of occupational psychology… There are all kinds of areas that could have sparked students’ interest in business.

You don’t need to take our word for it! In one of our previous webinars, Rebecca Hill from the University of Exeter spoke about what the subjects she and her fellow admissions tutors look for in business applicants…

Here, too though, it’s absolutely imperative that students go beyond the classroom. Students should also pick out recent news stories, ideas they’ve found in their independent reading and research or case studies that fascinate them.

You can also tell your students not to shy away from being a little bit controversial… Do they have any strong opinions on recent events or issues – like why a well-known company collapsed, why a particular brand came back into the mainstream after decades, or why a real CEO is so fantastic (or terrible!)? If they can back up their thoughts, this can make a really memorable and impactful business personal statement.

The Subjects Aspiring Business Students Should Study

Step 5: think about what they want to learn next.

Universities don’t just want to understand students’ existing interest in business. They’re keen to hear how students plan to keep that motivation up throughout their studies.

A business personal statement should show universities how they will develop the knowledge, skills and curiosities that students are bringing to the table.

And while self-confidence and selling themselves is crucial, a little humility never goes amiss! Students aren’t yet masters of business, and acknowledging that there are areas they don’t know all about indicates their thirst for knowledge and determination to grow.

Top tip: Have students look at the modules offered on their favourite business degree programmes, and/or at the specialisations of the professors in the department. These could be the perfect inspiration or springboard for topics they’d like to pursue!

Step 6: Come up with a compelling structure for the business personal statement

Now that your students have all of the ingredients for a stellar personal statement, it’s time to help them put it all together!

The most important tip is to ensure that each personal statement tells a coherent story.

If your students feel overwhelmed, they can’t go wrong with a great personal statement template – at least as a jumping-off point.

Related resource:  Personal statement template

Step 7: Create the business personal statement

After the sixth step, your students will have to go away and independently write a first draft – but they’re not on their own from here on out! They’ll need to share it with you for feedback and proofreading.

Of course, having lots of different drafts zipping back and forth can get confusing and chaotic. It’s a good idea to use a  free platform like BridgeU , where you can make edits and suggestions in one single document that students can see and respond to from their own accounts.

It also makes writing references and recommendations so much simpler, as you and your colleagues can draft your comments in line with students’ statements and see their experiences and transcripts with the click of a button.

Learn more by booking your free BridgeU demo below.

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How to Write a Top MBA Personal Statement (With Examples)

Working on your MBA application? You aren’t alone. In 2021, over 200,000 students graduated with an MBA degree making it the number one choice for graduate students for the 10th year in a row. And there’s good reason for this. According to the National Center for Education Statistics , post-MBA, grads can earn significantly more at work—experts estimate an additional $20,000 each year depending on the industry. 

During the application process, you’ll want to stand out. A well-crafted personal statement will help distinguish you from other applicants. It serves as a powerful tool to showcase your unique experiences, skills, and aspirations to admissions committees. To make a lasting impression, tailor your personal statement to each MBA program you’re applying to, highlighting how your background aligns with their values and goals. For additional support, keep reading for some MBA personal statement examples and guidance. 

Understanding the Foundations – Word Count, Templates, and Pricing

When you start your personal statement, keep the word count in mind. Make sure to write your statement succinctly. Templates can give crucial structure to a first draft and make sure you hit necessary points. Finally: is it worth it to hire a professional proofreader? We break down the pros and cons. 

Word Count Considerations

A well-written personal statement is often the deciding factor in the business school admissions process. Conveying your thoughts concisely is a crucial skill in the business world, and future peers will be grateful for your brevity.

One strategy is to start with a longer draft and edit it down when revising. Remove unnecessary details and tighten wordy language. Focus on improving the quality of your content over meeting the maximum word count. 

Templates as a Starting Point

Templates can help to organize your thoughts. Use them to provide structure and give your writing direction. By planning ahead, you can decide how much space you want to dedicate to each element—this can also help you meet the word count.

Remember: popular templates are popular for a reason, and following them too strictly can make your statement feel rigid and unoriginal. To avoid that pitfall, personalization is key. Your individual experiences, goals, and perspectives are all unique. What would a Master’s in Business Administration mean to you? Don’t be afraid to customize any template to fit your voice. 

Professional Proofreading

Graduate schools know what a well-written personal statement looks like—and so do professional proofreaders. Experts can help catch small grammatical errors and improve clarity in your writing. It can be challenging to review personal writing from an objective standpoint. A good proofreader will streamline your writing and ensure overall coherence, improving your odds with your preferred school of business. 

Unfortunately, this can be expensive. Pricing for these services can easily cost hundreds of dollars. If hiring one isn’t in the budget, here are some alternatives: 

• Find writing groups online or in person. Not only will you receive feedback, you’ll get a better idea of what other personal statements look like. Be prepared to help edit other statements.
• Reach out to peers and mentors. Turn to people who know your voice and can tell when your writing is authentic. Make sure they aren’t afraid to give negative feedback.
• Utilize free online resources. Writing tools like Grammarly or Hemingway help check grammar and sentence structure. They won’t help with essay format and aren’t infallible; double-check any changes they might suggest.
• Read your statement out loud. This can help make sure your statement has a good rhythm and flows naturally.
• Take breaks. Be your own set of fresh eyes. When you’re in the thick of writing, you might glaze over easy-to-spot details while you’re thinking of the big picture. Allow yourself to recharge and clear your head before you get back to it. 

Tailoring Your Personal Statement to Top MBA Programs

Make sure to personalize your essays to specific MBA programs . Include details about specific classes and faculty, unique opportunities, and the strengths that make this program stand out. 

Then, tie yourself into the narrative. What role would you fill as a graduate student or an alumnus? Consider your own strengths and where they align with this specific program. What career goals could this opportunity help you achieve? 

Remember to mention your soft skills and other details that may not show up elsewhere on your application. Finally, shine a spotlight on your unique contributions in past roles. 

Write a Captivating Introduction

A beautiful personal statement will be overlooked unless the introduction captivates the audience. You can begin with compelling anecdotes, personal stories, or influential quotes. Tie this introduction into your reason for pursuing an MBA. Make the reader care before launching into your achievements. Then, clearly state why you’re pursuing an MBA. Example: “From the dynamic intersections of global markets to the intricate strategies driving corporate success, the realm of business has always beckoned to me as a realm of boundless opportunity and perpetual evolution..” 

Discuss Academic and Professional Background

Now it’s time to discuss what you’re bringing to the table. It’s okay to brag! Think about any key achievements or acquired skills that are transferable to an MBA program. What motivated you to apply? Example : “As a project manager at XYZ Corp, I navigated intricate challenges, demonstrating resilience and strategic thinking – skills I am eager to refine in a top-tier MBA program.” 

Answer the Questions: Why an MBA? Why Now? 

What does an MBA mean for your career goals ? Break down your short and long-term goals to answer this essay question. How do the skills you gain from earning an MBA connect to your plan? Research the program you’re applying for and use examples from the curriculum. Example : “My immediate goal is to transition from project management to strategic consulting, and Crummer’s MBA program’s focus on experiential learning and global business strategy perfectly complements my aspirations.” 

Emphasize Soft Skills

Think about moments you demonstrated personal growth or teamwork. Are there any moments you stepped up to lead a project or team? Your past experiences will influence your habits in a graduate school setting. Example :  “Leading a cross-functional team on a high-stakes project not only honed my leadership skills but also taught me the importance of collaborative problem-solving, a cornerstone of Crummer’s MBA program. “

Spotlight Unique Contributions

What sets you apart from other applicants? Moreover, what impact will your unique perspective bring to the MBA cohort? Explain how your background will enrich the learning environment. Detail personal qualities and experiences that showcase your value. 

Key Elements for a Powerful Personal Statement

Take a holistic approach to strike the right chord in your personal statement. Give admissions committees a more concrete impression of you. Weave in your qualifications, experiences, and aspirations. Don’t just mention your professional achievements—detail all of your positive qualities. 

Showcase Work Experience 

Be strategic when discussing your real-world work experience. If you can, including measurable results is a great way to show your professional impact. Earnings numbers, statistics, and other metrics will show off your professional experiences. 

Articulate Career Goals and Aspirations

When discussing career goals for an MBA application, detail your short and long-term objectives clearly. Ambiguity can weaken your statement’s impact. Whether you’re joining a family business, starting your own business, or looking to go abroad for international business you should discuss how you see yourself navigating the business world. Connect these career aspirations to the MBA program. 

Incorporate Extracurricular and Real-World Experiences

Touch on any extracurricular experiences like internships or entrepreneurship. Explain how these real-world experiences impacted your analytical skills, business acumen, and decision-making. If you’re an entrepreneur, touch on your journey or discuss the vision for your next startup. 

You can also talk about moments where you demonstrated leadership and communication skills. Teamwork is critical to business leaders. Reflect on your leadership experience—the successes you’ve won and the lessons you learned. 

Maintain Authenticity

Write authentically. Admissions officers want genuine stories. Give readers a reason to empathize with you. Overly formal and generic language can depersonalize your statement and keep readers at arm’s length. 

Also, use conversational language. If something sounds clunky or unnatural, it probably also reads that way. Plus, the way you speak naturally showcases your personality. While you should always use proper grammar, don’t suck the life out of your statement in the name of sounding more “academic.” Use this opportunity to demonstrate your communication skills. 

Navigating Common Challenges

Crafting your personal statements can be challenging! Let’s answer some FAQs. 

How Do I Balance the Personal and Professional Aspects?

Be intentional about what you choose to mention from your personal life. Use elements that either contrast or emphasize your professional experience. How does your background influence your business philosophy? Make sure to keep a professional tone and align your statement with the admissions committee’s expectations and be prepared for any questions the interviewer could ask.

How Do I Handle Sensitive Topics?

If you’re writing about a sensitive topic, do so thoughtfully. You don’t know what type of people will be reading your statement, so be considerate and intentional about any details you choose to share. 

However, your application essay should be a reflection of you. Sensitive subjects often play a major role in personal growth and development. Discuss what you learned from this challenging experience and how it influenced you. 

How Do I Make My Writing Stand Out? 

We’ve touched on all of the story elements you need—now trim the fat. Avoid common clichés and generic statements. Common phrases will dilute the unique perspectives in your personal statement. Make sure the language aligns with you. Avoid language that could apply to everyone when possible. 

Other MBA Application Process Essentials – GMAT Score, GPA, and Statement of Purpose

The MBA application process is multifaceted and holistic. Alongside your statement, admissions committees also consider your GMAT scores and GPA. GMAT scores are used to gauge applicants’ aptitude for business studies, while GPA showcases your readiness for MBA rigor. If you have a lower score in either category, address these challenges by highlighting your other strengths, relevant experience, and resiliency. Remember: committees consider the entire application, not just scores. 

The other factor in the application process is your Statement of Purpose or SOP. This will complement your personal statement. Make sure your SOP articulates your academic and career goals without echoing your other application essay. Avoid redundancy. Focus on the future: link the MBA program to your long-term plan. Take a forward-looking perspective and demonstrate how the MBA will work as a natural progression in your life. 

Your personal statement should be as unique as you are. Start with a compelling narrative and a plan. Proofread your essay, and don’t be afraid to seek help from peers or professionals. Explain how your personal and professional life gives you the necessary skills to thrive at your desired program and be specific about what you want to do there. This is your chance to differentiate yourself from other applicants—take advantage!

Crummer is the #1 ranked MBA program in Florida. You can learn more about what we offer and when you’re ready, start working on your application . 

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How to Write a Personal Business Plan

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• Write a Business Plan
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A personal business plan, sometimes called a personal development plan, is guided by the same principles as a corporate business plan. You write a personal business plan to review your personal goals relating to your career, family and financial development. But writing a personal business plan is only the first step in a process. Once it is written, execution requires reviewing the plan, modifying it and maintaining the discipline to stick to it.

Write a personal mission statement that expresses your core values and your ultimate goals for balance and happiness. Core values might include having a family and perhaps putting career second to children when the time comes. A mission statement is the basis for establishing goals and measuring your success.

List priorities regarding career and personal relationships and the responsibilities involved in each. For example, work is essential for providing a particular lifestyle, but how much are you willing to sacrifice time with friends and family to advance in your career?

Read through the priorities and look for ways to balance different components of your life. Write down goals for areas where you can improve balance between work, family, physical and spiritual growth and development. For example, if your life is running between work and family obligations, you might set a goal of having one hour of personal time daily.

Set deadlines for each goal, breaking it down into smaller components if needed. For example, if you want to compete in a triathlon, you may need to first establish smaller training parameters to work up to your ultimate goal. Break larger goals into smaller goals like running three miles per day and then increasing to five per day in four weeks.

Review the plan to ensure you are being realistic regarding your goals and steps. Make adjustments to the overall plan if you feel overwhelmed, but don't hesitate to raise your standards stage by stage. It may sound wonderful to increase income, have more personal and family time and start training for a triathlete, but all these together may be too much to incorporate into any one period. Take a step back and make baby-step adjustments.

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With more than 15 years of professional writing experience, Kimberlee finds it fun to take technical mumbo-jumbo and make it fun! Her first career was in financial services and insurance.

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Create a Personal Business Plan That You'll Really Use Develop a customized tool that will serve to focus you on your most important objectives. Write it in user-friendly prose so you'll check it weekly.

By Marty Fukuda • Oct 7, 2014

Opinions expressed by Entrepreneur contributors are their own.

Every successful business leader I've encountered is in some way a prolific goal setter. For this reason, the single most important piece of advice I give any aspiring entrepreneur or business professional is to figure out exactly what you want, document it on paper and then attack it every day.

A personal business plan is something that I develop each year to help me put my own advice into action. Creating a plan can clarify your objectives for the coming year but don't just shove it in drawer. It is something that should become weekly, if not daily, reading material.

Related: Why Business Leaders Must Set a Personal Mission

1. Start with a simple brainstorming list.

Break down your role in the company into small parts and be sure it's comprehensive. This could mean taking each department that you oversee or are involved in, and breaking it down into further segments. For instance, for my company's graphic-design department, I would create separate objectives for its leadership development, equipment and software needs, anticipated hiring, the continued education plan and efficiency.

2. Prioritize objectives.

Your brainstorming list probably contains an overwhelming number of potential starting points. The key is narrowing them down into a manageable and realistic number of goals. Since you'll review the finished personal business plan often, don't write a novel.

I made the mistake of developing a massive 100-page personal business plan that I never looked at. The very thought of reviewing it was scary. A user-friendly one- to two-page document will do the trick.

Take your brainstorming list and organize it according to the biggest potential impact. You'll also have some must-dos (if not tackled business will fall apart). Then you'll have some items that aren't necessary or don't require much of your focus and perhaps can be delegated.

My company's CEO, Duane Hixon, does a wonderful job of narrowing down his list into what he refers to as his "rocks." These are the biggest areas of impact, the areas to which a person should offer most of his or her attention. These will make up the heart of the personal business plan.

Related: How to Build a Business Plan For Your Personal Brand

3. Be specific.

Once you've narrowed things down to a handful of rocks, be sure the plan includes specifics that will allow you to measure and track progress. For this year's plan, one of my rocks was maintaining company culture while building the team. Obviously, this is a broad, difficult-to-measure objective. For my plan, I developed a strategy for accomplishing the mission by including more details such as creating a company culture slide show and a plan for both current employees and new hires.

4. Set challenges but be realistic.

A goal that doesn't take much effort to accomplish isn't really a goal. Setting an objective that has a slim chance of realization, however, amounts to little more than a hope and can leave you feeling discouraged. Aim for a perfect balance between the two -- something that stretches you but doesn't break you.

Related: Write a Winning Business Plan With These 8 Key Elements

5. Set deadlines.

The beautiful thing about your personal business plan is that it's yours. You don't have to wait until the start of a new year to create one. While I create a plan annually, that doesn't mean that each objective has a deadline that's one year out. Set a deadline no matter what it is to keep you focused and provide a call to action (as opposed to adopting an open-ended objective).

6. Share the plan.

I recommend that you show your plan to a colleage whom you respect. Ask for feedback. This individual may think of an angle you have not. Equally important, this person will hold you accountable. It's a lot tougher to hit the eject button on a plan after you've shared it with someone you respect. And everyone can use a cheerleader in the workplace from time to time.

I personally love it when an employee shares a plan with me. It shows initiative and forward thinking. There are few things more impressive than when an employee has clear-cut objectives and works hard to meet them.

7. Revisit the plan weekly.

Creating the plan is just the first step. Put the plan in a prominent spot where you're going to remember to review it or place reminders in your calendar.If you've got a great plan, it can and will inspire you every time you see it.

Related: Your Mission Statement May Be Utterly Useless or a Gold Mine

Chief Operating Officer of N2 Publishing

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated April 17, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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Outstanding MBA Personal Statement Examples

Introduction.

Applying to an MBA program is a lengthy process that involves multiple steps and numerous requirements. Some parts of the process are relatively simple, such as academic transcripts or test score submissions. 

Other parts are more complex and require more from you, such as the MBA essay(s) that you’ll likely have to submit. Of course, every bit of information you include in your application is vitally important because your application will be considered in its entirety before any decisions regarding your candidacy are made. 

However, certain portions of your application may hold more weight than others. There is no doubt that grades are important, and having a high GPA or an exceptional GMAT score certainly helps improve your chances of acceptance. 

Yet, numbers don’t leave much room for standing out, which is necessary when considering the sheer amount of applications MBA admissions committees have to sort through. However, writing an outstanding MBA personal statement is your chance to do precisely that. 

An exceptionally well-written personal statement could be the gateway to your success and could land your name on a shortlist for an interview invitation to the business school of your choice, getting you that much closer to an acceptance to a future MBA program. 

On the other hand, “ An essay that reveals any weakness in your candidacy could quickly put you in the reject pile,” so the stakes are high when you get to this point in your application. To learn more about where you should start, how you can ensure that your MBA personal statement makes you stand out, and what kinds of things you should avoid writing about - read on.

What is an MBA Personal Statement?

An MBA personal statement introduces you to the school’s admissions committee that you’re applying to. It is also an opportunity for you to show them what you could potentially contribute to the community that exists at their school.

For most schools, your chance to write a personal statement comes with your responses to the MBA essay questions. Each school has its own requirements when it comes to the MBA essay. There is only one essay prompt for some schools, and for others, there are multiple questions that you must answer. 

Similarly, some schools have word requirements that limit either the minimum or maximum word count that you can use for your answers, whereas others provide the question and let you decide how much to contribute.

Although each school has topics they typically like to cover, many schools change their questions from year-to-year, but some general themes tend to reoccur quite often in these kinds of prompts. One theme that often comes up has to do with your interest in the school or how you envision yourself fitting into the school’s program. 

For example, the Wharton School of Business at the University of Pennsylvania requests their applicants to answer “What do you hope to gain professionally from the Wharton MBA?” They also ask “how do you plan to make specific, meaningful contributions to the Wharton community?” 

Other schools are more interested in the theme of self-reflection. The University of Chicago’s Booth School of Business , for example, wants to learn “more about you outside of the office,” and they request that you take their essay as an “opportunity to tell us [them] something about who you are.” 

For many schools, the theme of goals and ambitions is a popular topic. At NYU Stern , they ask applicants, “What are your short and long-term career goals?” and  “how will the MBA help you achieve them?”Another major theme shared by many schools is that of leadership. 

Berkeley Haas requires that applicants consider how “the definition of successful leadership has evolved over the last decade and will continue to change,” and they’re interested in knowing “What do you need to develop to become a successful leader?” Although some schools branch away from these general subjects, these themes tend to be the most common, so the chances are good that you may have to write about one or more of these topics in your MBA personal statement.

Top Tips on Writing an Outstanding MBA Personal Statement

Focus on the question.

You’re going to want to keep in mind several things while you’re writing your MBA personal statement. One of the things is that you maintain a steady focus on the actual question(s) asked throughout your essay. Of course, the questions are often very open-ended and allow you to answer them in a variety of ways. 

Once you’ve chosen a path, try your best to stick with it and continuously remind yourself of the task at hand, so you can question whether you’re straying too far from what you’re trying to write about. Staying on topic and focusing on the question at hand will also help prevent you from wasting space and time on irrelevant information. 

Although the admissions committee probably doesn’t have a distinct black and white answer to the question that they’re asking, they are still looking for an answer, so make sure that you’re not just providing them with an autobiography. 

Writing about your strengths and experiences is still necessary, so make sure you cover any  relevant strengths and experiences in accordance with the theme and question. Although admissions committees are generally interested in applicants who write unique content, it is important to avoid getting too far off track with your MBA personal statement. There is still a question at hand to answer, with directions that must be followed, so don’t write about whatever you please.

Show Your Passion

A good, compelling MBA personal statement is chalked full of passion. If you let your passion shine through in every line, you’re bound to grab the attention of the admissions committee that reads your application. No business school is interested in an applicant that lacks passion and enthusiasm. 

The main goal of each school is to fill their cohort with future leaders, who are passionate and driven to succeed. Let them know what kind of  business goals you have in mind and give them an idea of your ultimate ambitions. Whether you want to create a startup, start a nonprofit, or even move up within the ranks of the company that you’re already working for, let the admissions committee in on how you view your future in the business world.

With that said, make sure it's overtly clear why that envisioned future has ignited a passion inside of you that has pushed you to apply for an MBA program. Ensure that you go back to the source of your ambitions and give them an idea of where your passion originally stemmed from. Doing this will help them understand your aspirations better, and it will also give them a better overall understanding of who you are at your core.

Get to Know the School

It should also be evident in your MBA personal statement that you’ve invested time into getting to know the school that you’re applying to. Schools differ from each other in varying ways, and each of their MBA programs have distinct features that set them apart from one another. 

If you can demonstrate an understanding of the school’s missions, values, and goals in your personal statement, it will let the admissions committee know that you’ve done your research. Knowing these things will also help you tailor your MBA personal statement to meet some of the school’s criteria. 

Once you know the goals of a school, you can detail various ways that you’re capable of contributing to them. Once you know their values, you can show them various traits, which you possess, that align with those values. Once you know what their mission is, you can highlight ways in which your mission is similar. 

Of course, it isn’t necessary to reflect every single virtue that the school values in your MBA personal statement, but if you’re able to make enough of these connections between yourself and the school, they’ll see that you’re a good fit for a future cohort, increasing your chances of acceptance into one of their programs. 

Let the admissions committee know why you feel their MBA program is the best fit for you. If you can think of some specific things that their program provides, such as experiential learning or internships, mention why these opportunities excite you. Additionally, if a particular member of their faculty or a specific course interests you, explain where your appeal is coming from. 

There are many ways for you to gain more information about a school that will be useful during this portion of your personal statement. You can check out the school’s website, reach out to department heads, look into previous or current students’ profiles, look at the school’s online forums and social media groups, and even attend their events scheduled for prospective students.

Highlight Your Leadership Qualities

Upon closer inspection of some business school websites, it will be apparent that most of them value leadership above all else. Essentially, all business schools are looking to fill their cohorts with students who will become global leaders in the future. 

If you can show a school’s admissions committee that you have leadership qualities and that you have the potential to be a great leader, it will undoubtedly pique their interest in you. The best way to do this is by providing an insight into your motivations, strengths, and capabilities by emphasizing experiences that you’ve had, which present you as a proactive person who takes charge of the situations. 

You don’t need to describe some grand situation where you made a global impact. However, if you’ve taken the initiative to lead a local fundraiser, or you’ve started a club and led them to a set goal, these are the kinds of experiences that are worth mentioning because they will portray you as a leader.

Back-Up Your Claims

It is of vital importance that you don’t merely tell admissions why you’re a good fit for their school, or that you’re a strong leader, or that you have what it takes to make it in the world of business. Instead, you must show them all of these things by backing up your claims with examples. 

Your claims will feel empty and baseless if you don’t have real-life examples to back them up. Rather than telling a school how resourceful or imaginative you are, tell them an anecdotal story that helps them independently draw this conclusion . 

You can describe a situation when you made use of connections you have within your community to get something done that would benefit everyone or a time when you had to come up with a creative solution to a setback that you were facing. 

Unlike general statements, stories are memorable and will be hard for admissions committees to forget about you if you tell them a story that shines a light on your best side. Keep your stories brief and to the point, but include the necessary details to illustrate the points you’re trying to make.

Mistakes to Avoid While Writing an MBA Personal Statement

Don’t be too eager to please.

Many people make a common mistake when writing their MBA personal statement by focusing too much on writing exactly what they believe the committee wants to hear. In other words, trying too hard to please the admissions committee can sometimes have the opposite effect. 

When taking on an MBA essay, if you write what you think the admissions committee is expecting, you’ll waste a perfect opportunity to show them your actual value to their program, and you’ll likely blend in with the rest of the applicants. 

Each admissions committee has boxes that they are looking to tick, and the overall goal is for you to tick as many or all of those boxes as possible in a natural manner. If your aim is fitting the bill, it will be obvious and will detract from your chance to come across as unique. 

It will also make for a dull and underwhelming MBA personal statement. Beyond fulfilling specific requirements, you should demonstrate that you have character. Don’t be afraid to break the mold, at times, if it will allow you to open up more and share something genuine about who you are. 

Diversity is essential at any business school because diverse perspectives are what make a cohort attractive and interesting. So, think of how you can contribute to this diversity and embrace your authentic self when you craft your MBA personal statement.

Avoid Summarizing Your Résumé

By the time that an admissions committee gets to your MBA personal statement, the chances are good that they’ve already read through your résumé . Thus, there is no need for you to restate information directly from your résumé during your MBA personal statement. 

The admissions committee has that information already, and you can trust that they will not forget it if it is worth remembering.  By the time they get to your personal statement, they are craving something original and fresh. 

The purpose of a résumé is to list your relevant experience, but the purpose of an MBA personal statement is to show why that experience matters and why it sets you apart from all the other applicants. 

If you want your essay to be captivating, you must draw the admissions committee in with your storytelling skills. Use vivid descriptions to bring the stories that you’re telling to life and take the admissions committee on a journey that demands their attention.

No Need to Apologize

A general rule to keep in mind when writing your MBA personal statements is to avoid making any apologies. If there is a portion of your application that you aren’t feeling overly confident about, don’t draw attention to it. 

It might feel like you must explain yourself, whether this means justifying a lower than average GPA or test score or why there is a gap in your employment. 

However, your MBA personal statement is a limited opportunity for you to convince an admissions committee of your candidacy for their program, so spending time on things that don’t accentuate your best side is a waste of valuable time and words. Rather than apologizing for your potential downfalls, draw the admissions committee’s attention away from those parts of your application. 

Give them a good reason to naturally forget those things by wowing them with an MBA personal statement that highlights all of the reasons you are the ideal choice for their next cohort. The only time it is acceptable to explain your shortcomings is if the essay question specifically asks about them.

Outstanding MBA Personal Statement Examples 

Goals essay example.

Essay 1: What do you hope to gain professionally from the Wharton MBA? (500 words)

Sample Introduction:

Prior to COVID, I dreamed of a future as an entrepreneur building on my mother’s example of using business to make a difference in local communities. 2020, however, afforded me the opportunity to simultaneously begin pursuing the impact I hoped to make, even without my own venture, by participating in [Name] and [Name] recruiting efforts, while pausing to reflect on those aspirations.

Though I would still like to build on my mother’s legacy of community-minded entrepreneurship, I believe I will be able to make the most direct impact by founding my own venture capital fund that incubates companies from seed to late stage. My three years at [Company] have helped me develop analytical and operational skills necessary to be a thoughtful founder, but a Wharton MBA will help me refine my leadership style, as well as help me adopt the mindset of a community-minded investor.

Sample Body Paragraph:

With a flexible core foundation, I will use my time at Wharton to focus on classes that will uniquely help me achieve my goal. As a double major in Business Economics and Public Policy and Entrepreneurship & Innovation, I will not only understand the best way to use business to improve a community with classes like “Urban Public Policy and Private Economic Development,” but I can also study different methods to bring solutions to life with classes like “Venture Capital and Entrepreneurial Management” and “Finance of Buyouts and Acquisitions.” Best of all, I can begin applying and practicing what I have learned in the classroom by working with the [Company] or spending a semester in [Place] with the robust [Community] in the [Area].

Sample Conclusion:

After graduating, I intend to be an active alumni, joining the Alumni Angel group, as well as serving as a mentor for Wharton students. Bolstered by my experiences inside and outside the classroom, I will be ready to make my mark on the Venture Capital world, bringing more equitable access to financial resources for entrepreneurs of color. When I do, I know that I will have the support of my Wharton community behind me.

Why it Works:

This is a fantastic sample of a MBA personal statement for many reasons. Firstly, the applicant doesn’t waste any time and gets right into an explanation of their personal goals and aspirations at the beginning of their essay, which then ties into a brief explanation of the source of their inspiration. 

They also highlight their opportunistic nature by showing how they took advantage of the situation when COVID began. They consistently reference specific parts of the Wharton MBA program they’re interested in, such as some specific classes they intend to take. They also mention how they plan to use their experience at Wharton to make their dream a reality.

Contributions Essay Example

Essay 2: Taking into consideration your background – personal, professional, and/or academic – how do you plan to make specific, meaningful contributions to the Wharton community? (400 words)

While I may have a few years before launching my own fund to transform local communities, during my time at Wharton, I intend to be an active participant in Wharton’s Anti-Racism goals, fighting to bring equity and inclusion with the same passion I have brought to my office and B/LX network. I want to help usher in a new era at Wharton focused on today’s business concerns where diversity and inclusion are top of mind.

I plan to be an active member of whatever initiatives are formed with student involvement seeking to effect that change, such as the Wharton Graduate Association (WGA). As a member of the [Organization], I can work with my peers to network in our hometowns to increase [Ethnicity] participation in MBA programs, which has been historically under-represented, as well as welcome prospective students as a host during [Initiative], to ensure that all who are interested feel welcome the moment they approach this school.

I have learned through my work at [Company] that one needs to bring in allies to improve diversity - cultivating a strong affinity group is a start, but not enough. As a member of the [Group], I will support Wharton founders, specifically ones with social ventures addressing poverty and inequality in the greater [City] community, thus growing student-funded entrepreneurship with a social benefit. As a fellow, I will also be able to further hone my own sense of leadership to understand the best way to motivate people to prioritize community benefit.

When not focused on ventures and leadership, I plan to school fellow students in the Tennis Club, share meals with the Wharton Food Club, and continue bragging about California’s Cabernet Sauvignons to the Wine Club. I envision my Wharton experience moving beyond the classroom to build an alumni cohort to last a lifetime, supporting each other to overcome the challenges we will inevitably face as we become next generation leaders.

This MBA personal statement is yet another strong sample. This applicant has clearly done their research and has discovered that they have a goal in common with the school they’re applying to. They focus on this shared goal and highlight how they intend to achieve progress towards it by working together with the school and its community. 

They make sure to back up their claims with examples of relevant work experience  that is in line with this vein of thought. Doing this demonstrates focus and shows that they are serious about their passions. 

Their conclusion further reinstates the fact that they are familiar with what the school has to offer, and it also flushes their personality out a little more. It also helps the admissions committee to envision the applicant fitting into the school’s community in various ways.

Self Reflection Essay Example

Essay 3: As we review your application, what more would you like us to know as we consider your candidacy for the Harvard Business School MBA program?

Disability has always been close to home; my family and community have a long and painful history of degenerative disease. I often think of my uncle, who steadfastly refused to let others help him eat meals following a string of kidney surgeries, and to my grandfather, suffering from neurodegenerative decline, who would rather exert excruciating effort to walk up a flight of stairs than ask me to get reading glasses from his bedroom.

It dawned on me that a reliance on others to move through daily life slowly chips away at one’s humanity; that lost independence is a common denominator of disability, and it impacts people almost as meaningfully as the underlying medical condition does. While various technologies and medical subspecialties exist to ease physical suffering, there is woefully little out there aimed to mitigate this deeper psychological problem. What’s more, the data and tools to solve this issue do exist, but millions continue to suffer.

I’m driven by finding answers to the most complex, most challenging problems faced by humanity; the ones that are too daunting, or those that go unrecognized. I felt a moral obligation to intervene. What followed would help me discover my life’s mission – building AI-driven tech to improve healthcare.

Sample Body Paragraphs

I rallied a friend, and together we built an AI-driven, low-cost speech-recognition platform that enabled voice-activated control over electronic systems in a household, thus empowering individuals suffering from ALS and multiple sclerosis. It was an exercise in creativity and persistence. It was quite daunting at the outset - I still have scars from initial circuit prototypes exploding in my hand. But, in the end, our solution worked, and cost a fraction of a now commercially available solution like Alexa.

As I think back to my core questions of independence, disability, and the juxtaposition of

medical and psychological suffering, I see increased life expectancy as a testament to modern advances in medicine. I now want to start the conversation around ensuring that people like my uncle or grandfather live not just longer, but happier, more dignified lives.

In the long run, by proving the benefits of AI-driven healthcare to the world, I want to build an enterprise that not only continues to develop sophisticated technologies, solve complex medical challenges, and change lives, but also improves the underlying fabric of healthcare policy. Like Uber and Airbnb, my dream is to eventually create an organization that fundamentally shifts the contemporary regulatory paradigm in healthcare to one that evolves and appropriately reflects both the medical and psychological needs of the modern patient.

The more I study disability, disease, impairment, and their implications on the human psyche, the more I appreciate the power of community - the feeling that there are people who fearlessly stand with you as you look to defy the odds. As I look to achieve my life’s mission and create a better healthcare system, I can’t think of a stronger, more supportive, and more inspiring community than Harvard.

The general management toolkit, network, and leadership skills that I develop will stay with me long past my time at HBS. I am confident in finding co-founders, collaborators, and investors who are as passionate as I am about solving entrenched challenges in healthcare. I plan to engage in cross-disciplinary inquiry through the [Initiative], and strive to develop a deft understanding of the interplay between the business, policy, and technological aspects of healthcare, something made uniquely possible through close collaboration with HMS and HKS.

I am more inspired than ever to realize my dream of restoring the lives of millions who suffer through no fault of their own, and the Harvard MBA will enable me to achieve exactly that.

This essay manages to take a very broad MBA essay question and turn it into a highly focused and genuine personal statement. The applicant doesn’t merely state their goals, but paints a delicate picture of their very personal inspirations that have become their driving force. 

This MBA personal statement includes numerous details, while refraining from including irrelevant ones. Each part of the narrative that they’ve told is necessary and is carefully woven together to provide an accurate background of where their motivation stems from and how it has led them to apply to this school. 

They also reference relevant achievements and experiences that they’ve had that indicate a strong sense of leadership within them, making them an attractive candidate for the school they’re applying to.

1. What is the purpose of an MBA personal statement?

The general purpose of an MBA personal statement is to show the admissions committee a little more about who you are and why they should consider your candidacy for their program. It is also a chance for you to show your goals and ambitions, while demonstrating how they pertain to the specific MBA program you’re applying to.

2. How long should an MBA personal statement be?

Some schools have specific minimum or maximum word counts for their essays, while others don’t. A school will typically list these kinds of requirements together with the essay questions.

3. What should I focus on with my MBA personal statement?

Your MBA personal statement should focus on answering the question(s) that the school has provided. These questions vary from school-to-school, but are usually found on the applications page of a school’s website, along with all of the other information relevant to your application. In conjunction with your answer to the prompt, you may focus on describing experiences, skills, and goals of yours that are relevant to the MBA program you’re applying to.

4. Should I write a different personal statement for each school that I apply to if I’m applying to multiple schools/programs?

Yes. Not only does each school have their own essay questions, but each school also has its own set of values, missions, and interests. Thus, your MBA personal statement isn’t easily transferable from one school’s application to another. 

If you want to maximize your chances of getting accepted into a school’s MBA program, you must carefully craft a unique MBA personal statement for each school that you apply to.

5. What should I research before writing my MBA personal statement?

Some research into a school is necessary before you can begin writing an MBA personal statement to submit to them. You may want to research a school’s mission statement, curriculum, faculty, extracurricular activities, or other pertinent information related to their MBA program. 

It will be necessary to reference these kinds of things throughout your MBA personal statement when you explain why this particular school is the best option for you and why you are the best fit for their next cohort.

6. Should I mention my GPA or GMAT/GRE scores in my MBA personal statement?

No. Your academic transcripts and test score submissions will be part of a different section of your application. The admissions committee does not need to see the same information in two places. 

Use the MBA personal statement as an opportunity to improve your candidacy for the school’s program in fresh, new ways by discussing things that would not be possible to include in your transcripts or on your résumé.

Your MBA personal statement is a vital part of your MBA application, and, as such, it requires that you approach your writing process with careful consideration. Your personal statement is a significant opportunity to make a good impression on the admissions committee by showing them who you are and why you deserve a coveted spot in their program. 

Plan out what you want to say, and take your time organizing exactly how you’d like to say it. Remember that every word counts, so make sure that you stay focused and don’t get off-topic. Once you’ve written an outstanding MBA personal statement that you feel packs a punch, proofread your essay, and, if possible, have others proofread it as well to ensure that there are no errors that will detract from the content.

You should also make sure that your writing conveys a sense of confidence, creativity, and passion. If you account for all of these things, and you let your true self shine through in your MBA personal statement, then there is no reason why an admissions committee wouldn’t be interested in having you join their next cohort of students.

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Reviewing MBA personal statement examples can really inspire your own! Before applying to competitive professional programs, many students review medical school personal statement examples or law school personal statement examples , as these can be a great way to gauge what is expected of you. And if you are applying to an MBA – you should certainly review MBA personal statement examples! In this blog, we will teach you what an MBA personal statement is and why it’s needed, the types of essay questions commonly asked and how to answer them, and provide 7 MBA personal statement examples you can study to craft your own. This blog will also cover some of the key elements of a winning personal statement and some of the biggest mistakes to avoid when writing your personal statement.

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Article Contents 26 min read

What is an mba personal statement.

An MBA personal statement is an integral part of any MBA application. But what exactly is it? Simply put, an MBA personal statement, sometimes called a goal statement or statement of purpose, is a summary of your goals and experiences, why you are applying to your chosen MBA programs and what you hope to achieve in doing so. It’s a document, written in essay form, that tells admissions committees the skills, experiences and fresh perspective you can bring to the program.

A personal statement convinces admissions committees that you are the most suitable choice for a position in a department of Business Administration. MBA personal statements work a bit like a great cover letter for a job interview. A good cover letter tells a hiring committee a bit more about you and your suitability for a job position. A great one will get you an interview or even a job offer from the chosen company. Similarly, your MBA personal statement should cinch your acceptance to a chosen program in the field of business administration.

For almost every application process, you’ll be asked to write a personal statement, and an MBA program is no exception. Schools want to know more about you. They want to know your motivations, your purpose in applying to business school, and any significant part of why you chose to pursue this degree. They’re looking for more than high grades and impressive resumes.

Admissions committees know that the competition is fierce, so they want to make the best decision possible. A personal statement is the best way to show them why your candidacy should be considered above others.

Your personal statement is your chance to shine. It’s a chance to make an impression on your business school’s admissions committee. It also shows committees that you have top-notch writing and communication skills, two things that are big assets to any future business leader. So, admissions officers aren’t just using your personal statement to measure how you stand out from the crowd, they’re judging your professional skillset as well. If you struggle with writing college essays for your application, consider reading some sample college essays to find inspiration and expert tips. Or, if you’re looking for a more holistic guide to the graduate school application grind, think about seeking help from an MBA admissions consulting service.

Still working on your MBA Resume as well? Here are some tips:

Common MBA personal statement prompts

For personal statements, MBA programs will usually pose a question to applicants, which the admissions committee expects to be answered in essay format. While the questions will vary from program to program and likely change from year to year, there are some commonly asked questions you can prepare answers for ahead of time.

These questions often seem a lot like common job interview questions, but it’s important to remember that the answers should focus on your personal, professional, and academic achievements that can relate to your MBA success. Admissions committees provide these personal statement prompts to encourage students to self-reflect on their motivations, goals and perspectives, and then to share their insights and discoveries with the school. Graduate school programs may also ask for a statement of purpose to ask you further questions about yourself, so review some graduate school statement of purpose examples and tips for extra help. The key is delivering a personal answer while tying it back to the skills and qualities needed to succeed in business school. It’s also good preparation for the MBA interview questions !

There’s no magic formula when it comes to writing the perfect personal statement, but there are some key elements that should be included to pack more of a punch. Aside from being well-written, MBA personal statements need to contain the content admissions committees are looking for, be presented in the essay format they want, and they need to keep the readers’ attention.

Below we’ve highlighted a few things to keep in mind when creating your personal statement.

Use essay format

Your personal statement needs to be organized in an essay format. A sentence or a short paragraph won’t do. Admissions committees are looking for a little more content, and a bit more structure. The typical word count of an MBA personal statement is around 400-1,000 words, so think one to two pages long. Some programs may have very strict word count requirements, while others may not specify the word count but ask students to answer two essay questions.

Craft your personal statement just as you would an essay, with an introduction, body paragraphs and a conclusion. Start with a brief introduction that captures the reader. Use the introduction to engage the reader and keep them reading until the end of the statement.

Follow this with 3 to 5 body paragraphs that dig a bit deeper into your answer to the prompt in front of you. Each body paragraph should elaborate on how you came to apply to MBA and what makes you a great candidate. Remember to always use examples to support your claims- in other words, “show, don’t tell” them your story!

The conclusion

For the conclusion, wrap up your statement neatly, impressing upon the reader that you are the right fit for the program. Your reader should be left with the incitement to action, namely, they should want to extend you an interview invitation.

Being able to master the short essay format will also show admissions committees that you have the writing chops needed to excel in their business program!

Keep in mind that personal statements are usually between 750 and 1,000 words, so they don’t need to be long, meaty essays. Be concise in your statement and cut out any unnecessary information or fluff that isn’t needed.

Have a compelling story

When writing your personal statement, it’s important to leave an impression. Admissions committees will remember a great narrative over another student with high marks in all their classes. Crafting a compelling narrative is easier said than done, but it can be done.

Consider the question being asked. Are they asking for a moment of personal achievement? Your greatest failure? Do they want to know what motivated you to apply for business school? From there, choose a significant moment in your life that relates to the question.

Tell the story of this personal moment, using narrative story structure to deliver it with the greatest impact. Story structure means taking the reader—the admissions committee—on a journey.

For example, a story about the time you decided to run a marathon might start with a bit of background on the race and why you decided to run it. Then it would talk about any obstacles or setbacks you faced in preparing for this challenge, and how you overcame them. In your essay, you could write about the race itself, your mindset and any unexpected difficulties like a twisted ankle, finishing with the result of you completing the marathon anyway or beating your personal best time. Discuss why this moment of personal triumph was significant to you and how it relates to your decision to apply to business school.

Use your natural voice

When writing your personal statement, it’s key to maintain your authenticity. It is, after all, a personal statement, so use your natural voice and style in your writing. Admissions committees appreciate unique voices, and it will be noticeable in your writing if you’re trying to be overly formal or adopt the style of another writer.

Remember that committees are asking who you are as a person. Being honest and natural in your responses will shine through with way more impact than trying to sound like the smartest person in the room or the most business-savvy applicant.

Prove your leadership qualities, be introspective and honest

No matter the essay question, it’s best to showcase your leadership qualities. Show admissions committees that you can be introspective and honest with yourself. They want to see proof of self-growth and self-reflection in the experiences you share in your personal statement.

Demonstrate your leadership as part of a team environment by highlighting the ways in which you built up your team or encouraged them. Show the admissions team that you have leadership over yourself as well, in your commitment to your goals, writing about how you saw a difficult project through to the end, or a moment of personal self-development in which you learned from past mistakes.

Share how you will contribute, and how the program will help you achieve your career goals

Lastly, draw attention to what contributions you can make to the school or program of your choice. Pump up your strengths and the unique perspective or skills you bring to the table. Present compelling arguments for why you should be chosen over others.

Also mention how the program you’ve chosen will contribute to your business education or help you achieve your career goals. Mention specific elements in the school’s culture or curriculum that you feel will be an asset to your education in business administration or your future in business.

Worried about your MBA Interview? These are some of the question types you can start preparing for:

What should be left out of an MBA personal statement?

Just as there are elements that need to be included in your MBA personal statement, there are parts to avoid as well. Some common mistakes in poorly written personal statements are making it too long, not proofreading or checking your work, and not answering the essay question effectively.

Below we’ve listed some key mistakes to avoid when writing your personal statement.

Similar to the above, your personal statement isn\u2019t another resume or a list of your extracurricular activities. Schools are asking specific questions about your personal motivations and experiences. If they need a rundown of your professional experience, they\u2019ll look at your MBA resume . ","label":"Don't just summarize your professional experiences or extracurricular interests","title":"Don't just summarize your professional experiences or extracurricular interests"}]" code="tab1" template="BlogArticle">

Below we’ve provided 7 examples of great introductions, body paragraphs and conclusions of MBA personal statements, each answering the common types of essay questions we talked about above.

1. What motivated you to apply for this MBA program?

My family owns one of the oldest small businesses in our tight-knit community. I have always been proud to be a part of this family tradition, and it is my dream to open a small business myself. During the pandemic, I witnessed my parents and their fellow small business owners struggle to keep the doors open and the lights on. Many businesses, some of which had been here for decades, were ultimately unable to and had to close their doors for good. This was difficult for me, as it is not just a failing business, but an individual’s dream being shuttered. There are many hard-working small business owners in my community who simply could not compete or adapt to the changes of the past year. And they had no system to guide them on how to get back on their feet.

My dream to become an entrepreneur has now evolved; in the future, I want to create a company which incubates local start-up businesses. In working with [Company], I have developed my leadership and organizational skills, but an MBA from [University] will allow me to grow into a community-minded leader. With [Company], I have been fortunate to be able to lead a team of like-minded individuals, and see how both my actions, and the actions of the team, can lift up us all. It would be my goal to view my community of small business owners in the same way: as one unit that can be raised out of the circumstances we are all mired in.

[University’s] MBA program was my first choice because its foundational values align with my goals. With the program’s focus on the operation and management of small business, I believe it will provide me with the proper toolset to serve local business owners and up and coming start-ups. [University] also focuses on entrepreneurial leadership and development, which will be a great class to augment my existing skillset. The curriculum of this program will provide me with the necessary professional skills I need to succeed as a small business owner myself, particularly with its foundation of management, finance and leadership. Since the program also holds a high standard for innovative, exemplary leadership, I feel it will augment my developing leadership style and skills and mold me into becoming the kind of leader my community and its business owners need right now.

The small business owners in my community are like members of a family, and when they were faced with difficult times, I was amazed to see how they supported one another, and reached out to one another. My goal as a business incubator would be to provide a space for these businesses who were struggling or had to shutdown to restart again and get back on their feet. To have a community support system to reinvigorate them. It would also be a resource for any budding entrepreneurs in the community, who were scared off by these challenging times or simply don’t have the resources they need to get off the ground.

After graduating, I will achieve my dream of running a business incubator with the full guidance of my experiences inside and outside the classroom. With the skills I will have learned, I will be able to give back to my community and make a true impact on the lives of its small business owners. I am passionate about my goals, and deeply committed to making a real, tangible difference in my community’s business sector. I will take the lessons I’ll learn at [University] with me throughout my life and career in business and pass along the tools and skills I will have learned to the small business owners, like my parents, for whom it makes such an incredible difference.

2. Who do you most admire?

The businessperson I most admire is not a well-known titan of industry. Her name is [Name]. She is the founder of a not-for-profit organization which provides stray animals in need with care and housing, as well as educates on proper animal care. She has been my mentor as I have volunteered for her organization for the last 3 years. My passion for animals led me to volunteer with [Organization], but it was the incredible example set by [Name] which inspired me to further my professional goals and pursue an MBA. With an MBA degree, I can pour my experiences, skills, and passion into helping other not-for-profits like [Organization] succeed and continue to help animals. The world, particularly the not-for-profit sector, needs more leaders like her. She continues to inspire me with the commitment and passion she has for her business.

The reason I admire [Name] is because of her dedication to her business, her sense of responsibility to her team and the animals, and her vision in creating a better solution to stray overpopulation and pet abandonment. Every day, she works to educate pet owners on the problems organizations like hers face, and the effect on the animals and communities involved. People often misunderstand the work done by animal shelters and organizations like [Name’s], and it’s important to not only raise awareness but educate others on the real problems we are seeing everyday, and the proven solutions that can be provided. Overpopulation of strays and inadequate pet care often mean our shelters are at capacity, stressing our already taxed resources. It sometimes means we’re not able to accept an animal in need off the street, because someone else has returned a pet they weren’t prepared to care for.

[Name] puts everything she has into her business to ensure it runs in a responsible, organized way, from caring for the animals, to managing staff and customers. She tackles problems head-on, and she is involved in every step of the process to see where we can make improvements. Every year, she organizes our Adoption Day event and fundraiser. She sets up pens for potential pet owners to interact with our animals safely, signs up new shelter volunteers and accepts donations. And then she is in charge of educational presentations and a thank you speech in front of the crowd of our supporters and donors. She truly makes being an organized professional an artform. As part of the team, she is our leader by example, showing our team how to organize and set up a safe, fun and successful event. She leads from the front and shows us how to properly care for animals and advocate on their behalf.

[Name] is not only dedicated to her position as the team leader and head of the organization, but personally takes the time to do the work around the shelter and can fill in for any position flawlessly. She proves the importance of being able to multi-task, and how crucial it is to know every part of the business, when she shows our shelter volunteers how to clean out cages, maintain our animals’ physical health with grooming or properly delivering necessary medications, and how to socialize our animals with structured play with other animals and humans. She uses her creative thinking and innovation to keep finding ways the team can work smarter, not harder, and brainstorm ways that we can improve the lives of our animals. When our resources aren’t enough, or a piece of equipment breaks down, there is always another solution. When we didn’t have enough proper feeding and water bowls for our pets, she took it upon herself to recycle pieces of PVC pipe and plastic storage bins from our storage room to create a feeding and watering system that saved us time in caring for our animals and provided space for everyone during busy feeding times.

My mentor will always be an inspiration to me in the world of business for her leadership qualities and the way she executes her vision. Not only is she a prime example of a not-for-profit business owner, but she also never lets herself forget why she’s there, and she always shows up for her business. Working in the not-for-profit sector requires a surplus of passion, patience, integrity and dedication. It also requires superb organization, knowing your business inside and out, creativity and innovation. She demonstrates these qualities every single day, and inspires others to develop these qualities within themselves, too. [Name] is the best example I can think of a leader, a not-for-profit business owner and someone who truly cares about their mission. I hope to emulate the qualities she has shown and instilled in me in my future professional life.

3. Describe a time you led a team and what challenges you faced, how you overcame them.

The bulk of my professional experience has been as a member of team. I have been fortunate to have experience both being a part of and leading a team of talented and dedicated individuals. Working at [Newspaper] as chief layout editor, I consistently lead a team of 5 layout editors in creating and publishing a weekly paper. Journalism is a fast-paced environment that requires focus and collaboration. My team edited, laid out and approved a large volume of pages each week, working under tight deadlines. Our work requires adaptation and perseverance, and a fair amount of commitment to see things through to their deadlines and complete a project to the best of one’s ability. In my role as chief layout editor, I had the invaluable opportunity to develop my leadership style, grow as a leader, and prove to myself and my team that I can lead.

Within a newsroom, there are multiple departments all operating with a degree of separation from one another, but all key parts of the overall team. Normally, the department heads are in contact with one another to fix problems quickly where they come up and stay in contact throughout the publication process. My team of layout editors would inevitably run into a roadblock or have a question they needed to pose to another department head about the copy. Communications between departments were usually streamlined by being communicated exclusively through department heads. If a team member had a request, it went through me and on to the appropriate department head. Since department heads were not always available at the time the issue arose, I took the initiative to make it easier for my team to get the answers they needed to work, even if myself or the other department heads were absent. Through a shared Slack message board, members of my layout team could post a request or question to the related department. All team members of that department would be able to see the request and respond. Or, messages could be sent directly to the individual to answer the request.

Another major hurdle was ensuring every page that came through our hands kept to our strict style and layout guidelines. As team leader, it was my responsibility to clearly communicate our style and layout guidelines to my team members, providing a comprehensive guide for them to follow. This guide became a staple in the office and part of the package prepared for new hires. The guide helped new hires onboard more quickly and increased the team’s self-sufficiency. All pages being worked on were also visible to the entire team, so everyone knew who was working on what and how projects were progressing in real time, without the need for constant meetings and updates.

Leading my team at [Company] was a challenging but rewarding experience. In my responsibilities as team leader, I learned valuable lessons about the importance of transparency, clarity and advocacy in the workplace. I learned the importance of fostering an environment where the entire team could excel and be self-sufficient. Being a leader is about much more than delegating, fixing problems and guiding team members. In an environment as dynamic and fast-paced as a newsroom, I learned how to use my creative skills to improve the work environment. By making these seemingly small changes to our communications and operations, the team was able to thrive. Through my time as leader, I believe my best accomplishments were removing the team’s hurdles to productivity and efficiency. Once I did, my team showed me how adept they were at leading themselves.

My greatest personal achievement was also the realization of a lifelong dream. This year myself and my water polo team won the gold medal for the Junior Olympics. It has been my dream to become an Olympian since I was young and being awarded a gold medal for competing in my sport has been by far my proudest moment. Not only was this a significant feat of athleticism, perseverance, and dedication, it was an affirming moment for me personally. It proved what I was capable of once I set my mind to something. It showed me what my passion and hard work could bring me.

My journey as an athlete has taught me many important skills applicable to every area of my life. Water polo is a team sport, and I could not have succeeded in this personal victory without the hard work, encouragement, and help of my teammates. The team’s strengths and weaknesses must complement each other to form the best unit it can. And thinking and functioning as a team helps keep us sharp and focused. Being a part of a team also inspired me to push myself and constantly improve upon my own performance. During training with my team, I often had doubts about myself and my performance. I never viewed myself as the strongest link, and saw only how I fell short compared to my teammates in speed, strength or maneuverability in the water. My teammate, [Name], noticed how hard I was pushing myself and encouraged me to share my self-doubt with her. I carried her following pep talk with me to the gold medal match. She told me that our teammates all relied upon one another, but that we were also there to support each other. To complement each other’s strengths and weaknesses. And she reminded me that my strengths were knowing who was the quickest, who was the strongest, and who was the best teammate for any given situation in a match. She pointed out that I had a knack for analyzing a situation quickly and immediately moving into position to support the teammate that needed it to maximize our chance of success in the round. Having the team’s expectations of me, knowing they were relying on me, but also supporting me, inspired me to be my best. To challenge myself and expand the limits of what I thought I was capable of.

Water polo is also a physically demanding sport, and my long hours of training and practice have taught me diligence, patience and perseverance, especially when there is a goal I am striving for. But frustration bubbles up in you when you don’t see results or even a shred of improvement. Self-doubt might creep in, because you know that even your best might just not be good enough. Not to mention, when you’re in the arena and all eyes are on you, it’s easy to get distracted. My self-doubt was keeping me from seeing my personal strengths, and the improvements I had made. The mix of frustration at lack of progress and determination to do better pushed me too hard. After my teammate’s inspiring talk, I started to focus on my strengths, playing out different match scenarios in my head and in the pool and practicing drills with my teammates to improve my reaction times.

I remember walking out and trying to tune out the noise and distractions. You run through the mental checklist, and you’re so focused you almost forget what’s coming next. It feels a bit like sleepwalking, because you’re not aware of what’s happening around you, but you don’t miss a thing. Everything you have practiced comes rushing back to you and you’re waiting for everything to start. When it does, there’s the snap to action. All your training is remembered in a single instant, and suddenly you’re ready for everything. Your team is with you, all of them connected to you, sharing the same thoughts. You don’t need to tune anyone out anymore, because the only thing that exists in your world is your team and the game. It’s almost hard to believe when the game is over and you come back to the real world. It’s a surreal feeling. And then you realize: we won.

Although I have achieved this personal goal through hard work and dedication to my sport, it has opened my eyes to the other possibilities still ahead of me. In achieving this milestone, it has made me strive to reach for the next rung on the ladder and keep improving myself in my sport and in my personal development. In achieving something I wasn’t always sure I could, I’ve shown myself what I’m capable of, and taught myself the value of challenging myself and growing myself.

Want to learn more about MBA courses? Check out this video:

5. How will you contribute to school’s diversity?

As a female entrepreneur, I know the unique perspectives and value I can bring to the table. Growing up with a grandmother who started her own business had a huge impact on me, as it taught me what women in business are capable of. Now, as a proud business owner myself, I can see how my personal journey affects my approach to business. My grandmother owned a small hardware store, and hers was the only store around for miles in a rural area. She knew each of her customers by name, and took the time to chat with each one, providing advice or recommendations on their home improvement projects. As a child, I was astounded by her depth of knowledge and how she always seemed to have an answer for everything. It inspired me to follow her and soak up the information she had. As we worked, she also provided me with gems like ‘if they come back with a smile on their face, you’ve done your job’.

When I built my business, I was focused on one mission: to help empower my fellow female entrepreneurs and business owners. Now that I have been in business for a few years, it still amazes me how often my clients share stories with me that echo my own. We share so much of our struggles, triumphs and experiences, and yet we each have our own story to tell. We all have different reasons for going into business for ourselves. Some of the best interactions I’ve had are when my clients share their stories with me. When I was still working with my grandmother in her shop, I was helping a young girl with a school project. She wanted to construct a birdhouse and needed some help finding the right materials. Unlike her classmates, she wanted to construct the most unique birdhouse possible. Something the most colourful birds would call home. Together, we went through the store picking out flashiest glitter, buttons and faux feathers we could find. The following week, she returned to proudly show off her birdhouse, the most colourful I have seen yet. Seeing the proud smile on her face and seeing the result of what I had helped to build, ignited the spark that has never left me. Knowing I was a part of her passion project, of helping it become a reality, fills me with the same pride I feel now helping other women to succeed in their business. Whenever a client tells me that I’ve given them the tools they never thought they’d have access to or given them the advice they never knew they needed to succeed, I know I’ve done my job.

As a female business owner, I bring my own special brand to my business. My business was built on my personal passions and values, and it shows in every interaction with my stakeholders, my employees and my clients. My motivation to pursue my MBA comes back to my grandmother’s words of wisdom in doing my job. Doing the best job I possibly can for my clients. And I know I can’t continue to grow, and provide my clients with my best work, without continuing to develop myself professionally. In pursuing my MBA, I am filling myself up with even more knowledge, even more skills, that I can pass onto those who need my help.

6. Talk about a personal failure and what you learned from it.

Even as a child, I was never good at accepting failure. Whatever I did, I wanted to excel. And I quickly grew disinterested in activities I didn’t have a natural talent for. While in life it is inevitable to experience failures, there is one incident in my personal life that stands out. A few years ago, I was training for a national track and field competition. Track and field was something I was effortlessly good at, and I knew I would have no trouble competing when I qualified for the race. I would be racing in the 100 m sprint, a category in which I excelled and was sure to win first place. Even though I was assured of my victory, I devoted myself to my training. It was important to me that I show my best efforts and impress.

Before my defining race, I was warming myself up, preparing myself for the feat of athleticism. I also sized up the competition, taking note of the strongest runners, as I usually did. It became a pre-race ritual for me, to mentally catalog my opponents and consider how their strengths and weaknesses matched up to mine. There was one runner I noticed and dismissed immediately for being the smallest and weakest-looking of the group. Unlike the rest of us, he wasn’t warming up for the upcoming race. He was sitting quietly on his own, concentrating only on himself and whatever mental pep talk he was running through his head. Thinking nothing of it, I approached the starting line and waited for the gun blast. As soon as it fired, I took off, digging my toes in and launching myself ahead of the pack. I was pushing my body to its limits to reach that finish line. I could see my opponents falling back, on my heels but unable to catch me as I sprinted with confident strides. But to my surprise, the small runner I had dismissed so easily was a pace ahead of me in my sightline. Determined to beat him, I poured everything I had into my sprint, feeling the effort burn through me. But it wasn’t enough. The runner effortlessly flew over the finish line before me, nabbing the first-place prize I had worked so hard for.

While my defeat in an arena I excelled in could have brought bitter disappointment, it was also a good reminder for me that we all fail. Competition is inevitable, and we should never grow complacent in the areas where we excel. If we stop growing, our competition will catch up to us quickly and unexpectedly. If we want to stay ahead of the game, it’s important to keep improving. Because even the best athletes continue to train to stay at the top. My fellow runner didn’t care about their competition, and they weren’t concerned about comparing themselves to others. They were solely focused on their goal, as any top athlete should and will be. This is a lesson I took to heart.

During this race, I did also beat my personal best time, so it showed me that even if I excel at something, there’s always room for improvement. It taught me that complacency is the enemy of my success. I was so satisfied with what I thought to be my peak performance. I had thought I was at the top of my game. But this experience showed me how wrong that was, and how important it is to keep growing and developing myself. I’ve learned that even with our best efforts, we can sometimes still fall behind. Sometimes, someone’s strategy will be better. Or they’ll be better prepared. But mostly, it showed me that instead of focusing on how I measure up to others, I need to shift my perspective and ask how I measure up to who I want to be. My goal now shouldn’t be to be the best, my aspiration should be to become the best version of myself I can possibly be.

7. What are your career aspirations?

Brewing has been my family’s calling for generations, from my father brewing backyard beer to my ancestors’ colourful history of distilling illegal spirits. Recipes have been passed down through the family, and we each have our own favourites and specialties. Some of us add unexpected flavours to our home brews. Others swear by old or superstitious techniques. Still other members of the family have kept their ‘secret ingredient’ close to the vest. Something I want to change is the fact that the family hobby has never quite grown out of the backyard. Because the other family tradition is in the sharing of a cup, and I think with the growing popularity of micro-breweries and micro-distilleries, other families might enjoy a taste of our traditions, too. In applying for this MBA program, I believe it will help me to achieve my dream of opening a micro-distillery. It has long been my goal to own my own business and incorporate my passion for brewing. Being a small business owner requires supreme organizational and management skills, which [School’s] program will provide me.

In opening my own micro-distillery, I will be able to share my passion with my customers. The area in which I grew up has a unique history of locally made spirits, and the ingredients that grow in the area cannot easily be found anywhere else. They provide an inimitable flavour profile and a taste of the local land that cannot be matched. It is my goal to carry on the proud traditions of my hometown region by opening my own micro-distillery, to share our unique regional flavours with the world. Although my dad has taught me his home-brewing techniques, I also have experience working for [Beer Brand] as a brewer. Learning the modern techniques of brewing has definitely expanded my skillset, although brewing the same brand of beer, using the standard recipe, doesn’t have the same passion in it. My work experience has rounded out my technical skill as a brewer, and it has also given me some insight into the operations of a business. I’ve seen firsthand what it takes to operate a small business, and I know I have more to learn in this area. I know if I want to succeed in turning my family tradition into a real business, I need to build up my business sense. 

To achieve my goal of owning my own micro-distillery, it is important to have a strong business sense behind the passion and big idea. I believe with this program I will add the leadership, management and operational skills I need to see my micro-distillery off the ground. My business will need a team, and I will need to develop myself as a leader to be able to choose and develop my employees. I know I will also need to learn the management skills that will allow me to help them be successful. It is my belief that this program will instill in me the soft skills I need to become the leader and teammate I need to become to see this venture succeed.

Writing an MBA personal statement is tricky, but it is a must for any business school application. By following the above tips or studying the examples we’ve provided in this guide, you’ll be well on your way to writing an awesome personal statement. Finally, if you are looking for more inspiration, check out our Harvard MBA personal statement examples . This renowned institution is well-known for its standards. If you can write a personal statement like this, you can get into any MBA program out there!

MBA personal statements are typically between 750 and 1,000 words.

An MBA personal statement is almost like a cover letter for a job application. It is written in essay form and should explain why you are the right choice for an MBA program. Your MBA personal statement should also highlight why you wish to attend the schools you're applying to and what you hope to do with your MBA.

Yes. Most MBA programs will ask for a personal statement as part of their application process.

A general rule of thumb is to include a strong personal narrative, compelling arguments for your candidacy and qualities or strengths you will bring to the program you’re applying for.

Yes. Usually, schools will change the essay question each application cycle. Though this may vary depending on the program.

Some of the most common personal statement essay questions relate to personal achievements, motivations for applying to business school or how you will contribute to the school’s MBA program.

Yes. Admissions committees will be expecting your personal statement to be in short essay format. If it’s not, it may lead your application to the rejection pile.

The simplest way is to study the short essay format, read the essay question, reflect on your personal experiences, and answer the question being asked!

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Business management & entrepreneurship personal statement example.

Lithuania is a frantic country. It is notorious for hefty suicidal rates, ludicrous per capita alcohol consumption, far and wide emigration — all of which are supported by the empirical data. That being said, Lithuania is where I derive from. In lieu of buckling under, constant prejudice hankered me to confute both me and my skeptics, thus I started my venture into the world of enterprise.

I was introduced to commerce 3 years ago, when my schoolmate gifted me an online racing video game with a trading system integrated into it. I promptly got fascinated by the idealistic scheme — a voluntary exchange of goods, that benefits both parties. Mere days later I commenced trading.

After earning the pivotal capital from trading, I ached to advance. Market observations coaxed to a discernible choice — eBay. Subsequently, I launched an eBay store, in which I sold digital goods. Throughout the 8 months of transacting, my store has accrued over 700 positive feedback from divergent consumers worldwide, without a single negative review. Achieving “Top Rated Seller” and “Power Seller” badges made my sales skyrocket. I made approximately $6000 solely from commerce, which I later yielded into investments. I have learned a plethora of enterprise-related necessities from my eBay experience, foremostly — organization and time management. The delivery of virtual assets required both parties online simultaneously, hence I had to arrange the precise juncture for the transaction. It was a liability that I am proud I managed with responsibility. eBay took 10% fees from each sale I made, what urged me to develop an independent online store. Thereupon I formed my own website. I learned a great deal about web design, and how to gather information pertaining to a specific sphere.

When the prodigious upsurge of cryptocurrencies began to occur, I started deliberating on how to make revenue off it. Incentivized by the theory of the decentralized peer-to-peer ledger known as 'Blockchain', I invested in bitcoin. It was my latest contribution and a dip of the toe in the uncharted waters contemporaneously. Such experience made me comprehend the endless corporate realm opportunities, and that there is no reason to shun digital innovation, other than AI's humankind extirpation.

I am an avid basketball devotee and have won a city's championship with my high school team. I finished a 7-year music school, playing a Lithuanian national instrument Birbynė and performing in Vilnius city centre. I am also captivated by international politics and observe discrete debates about controversial topics such as 'Will there ever be a rapport between the political left and right?'.

There are several preeminent aspects I love about the university's proposed programme. Elaboration in business research entails the analysis of both quantitative and qualitative data, whose contrast comprehension is essential for any business endeavor. Likewise, marketing modules capture an immense enthusiasm of mine, as they encompass fundamental concepts used in today's advertising.

I aspire to master deliberate risk-taking, and yearn to be a successful entrepreneur. University's conveniences and like–minded undergraduates would assist my ambition altogether. I am eager to start the course.

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Sample Personal Statement Business Analytics

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In personal statement samples by field.

Here is the personal statement of an applicant who got admitted to top Master’s in Business Analytics programs, including CMU, and MIT. For personal statement, the programs posed several questions to applicant, which the admissions committee expects to be answered in an essay form. The universities provide these personal statement prompts to encourage students to self-reflect and then to share their insights with the program.

The following essays are an example of a compelling story and reflect the original voice and personality of the applicant. Get inspiration from them and try to incorporate their strengths into your own personal statement.

Related Personal Statements 1) Sample Personal Statement in Advanced Analytics (admitted to NCSU) 2) Sample Personal Statement in Analytics (admitted to Georgia Tech) 3) Sample Personal Statement in Data Science and Analytics (admitted to CMU and Vanderbilt) 4) Sample Personal Statement in Management and Analytics (admitted to LBS)

In this Article

Personal Statement Prompt 1

Personal statement prompt 2, personal statement prompt 3, personal statement prompt 4.

Please attach to the application a brief narrative outlining your academic interests. Include any current or long-range interests in research, teaching or other professional objectives. Please describe these if you have progressed far enough in your career to have publications or other evidence of scholarly endeavour.

I want to play the critical role of a business strategist and capitalize on the most useful of the sophisticated technologies flooding modern businesses. In the short run, I want to set up a consulting firm which provides analytics-driven marketing solutions to large firms operating to deliver a consistent and easy buying experience for their customers. I would ideally like to leverage recent shifts in the marketing industry towards data, expand my consulting services across countries, and become a global leader in revolutionizing customer experience through data analytics.

I am an ideal candidate for the Business Analytics program due to my strong academic record as I graduated in Electrical Engineering with a cum laude GPA. My undergraduate has equipped me with extensive quantitative knowledge and technical experience around different themes in engineering. I’ve focused most of my studies on parametric analysis using different software like C++, VB, MySQL, Python and MATLAB. This was further honed when I joined Facebook’s Meta as an Analyst Software Engineer and, using MySQL, predicted patterns of interpersonal behaviour to optimally pair customers with an agent. Solving demand-related issues of customers from all around the globe, I have become aware of the mismatches between marketing outreach and customers’ buying needs. Therefore, I aspire to influence global customers’ marketing experience by investigating ways in which customer needs can be well aligned with the sales strategies of firms supplying goods online.

To materialize my aspirations into a successful reality, I want to glean more information on predicting customer behaviours and matching it with the right promotion offers since it ideally dovetails with my professional expertise in using MySQL to predict patterns of interpersonal behaviour to optimally pair customers with an agent. While I developed a strong skillset in matching commercially available information to determine successful behavioural interaction patterns, I plan to extend my research pursuits by exploring the right mix of traditional and digital marketing vehicles.

Beyond the classroom, I would greatly appreciate the opportunity to learn from and collaborate with the influential faculty and the Center and Laboratory for Behavioral Operations and Economics’ endeavours to solve critical IT-related decisions that advance company performance. In particular, the techniques of Professor Gary Bolton in experimenting with real-world trading markets within laboratory settings are foundational for my current work. Moreover, they will equip me with experimenting tools through which I can excel in my future career. Moreover, my future aspirations require strong leadership qualities recognized in a data-driven world. For this purpose, I would greatly benefit from The Leadership Center’s four dynamic offerings to mould my personality into a global leader’s persona.

Lastly, I will exploit the strong placement services and gain access to leading consulting companies where I can seek pro bono consulting opportunities and enhance my problem-solving acumen. I am also confident in acquiring the necessary communication skills to present solutions to Product Managers, Sales Associates, Engineers, and Marketing Teams for effective decision-making.

Thus, to sum up, owing to my strong academic credentials and professional expertise in applying artificial intelligence, I am confident of fully utilizing vibrant opportunities at Master in Business Analytics and converting it into an ideal segue for my future career aspirations.

Introduce yourself to your future classmates in 100 words or less.  

I have a passion for entrepreneurship, and during my sophomore year, I laid the foundations of the “ pay as you play”  console gaming platform and earned $4,000 a month. I have strong interpersonal skills and have won five national debating championships and represented at various national and international competitions. I am a fighter and showed great resolve in fighting acute liver failure, which I suffered in my junior year. I am a risk taker and quit my high-paying job at Unilever to start my venture of connecting home-cooked food suppliers with potential buyers.

What professional experiences have made you determine that business school is the right next step? (150 words)  

I pitched a business idea named Homestove – a food sharing application based on the B2C model. The business idea was successful as it won a substantial seed funding. Encouraged by its traction, I spearheaded its execution of supplying home-cooked food to potential buyers. However, the main factor I overlooked was doing intensive data analytics based on the market’s demographics. The locus I initially defined was 8 km, which was far from optimal. As a result, it created a mismatch between the area from where demand was being generated and where the chef was supplying the home-cooked food. Consequently, we incurred a considerable loss and customer dissatisfaction because of extended delivery times. Therefore, to avoid such losses, I strongly need a degree based on data management, technology, and analytics to create an ideal operations model for my business.

What career do you plan to pursue after business school and why? (150 words)

In the short run, I would restructure my business model by carefully analyzing the individual-level micro-data. Ideally, I aim to optimize my operations, mitigate the mismatch of distances between chefs and potential buyers, and reclaim the currently lost market share. If successful, I would like to expand my business to other metropolitan cities of US.

In the long run, alongside my business, I would like to provide consulting services to other tech-based startups suffering from a lack of operational optimization of their business. Unfortunately, despite having a lot of potential, most tech-based startups fail because of a lack of proper training in operational research. Consequently, they are unable to sustain themselves and run out of funding. I want to provide such firms consulting based on data analytics, business insights and marketing so they can harness themselves and become profitable.

Is there anything not addressed elsewhere in the application that you would like the Admissions Committee to know about you to evaluate your candidacy? (300-word maximum)

During my senior year, I got recruited by British American Tobacco after winning their battle of mental challenges. They had devised stringent criteria based on a rigorous aptitude test. Additionally, they assigned a group-based project related to any issue in public policy. I was the team lead and submitted a basic blueprint idea for using solar panels for domestic power needs. The basic plan was that the cost of these solar panels, being the main hindrance, would be offset once the government provided low-interest loans to homeowners to power their own houses. The savings on electricity bills would then be used to pay off the loans. It was an innovative idea that was well crafted after hundreds of hours of hard work. For example, my team and I conducted a rigorous field activity and accumulated over 400 bills from different homes in Frederick, Maryland to prove that using solar panels would not cost anything extra to these houses. We won the competition based on our innovative idea, and I was later called for an interview. Later, I was selected as MT and five other candidates out of 7000 applicants. I worked there for two years and eventually moved to Unilever. However, I always wanted to create social value and impact the lives of others, so after a brief stint at Unilever, I started my venture.

Describe a situation in your life where you failed to achieve a goal. What did you learn from this experience? (Max. 400 words)

I pitched a business idea named Homestove – a food sharing application based on the B2C model. The app’s primary purpose was to create local clusters where domestic chefs and homemakers market and sell their food to potential buyers within a particular locus. The business idea was successful as it was selected at top incubators and won a substantial seed funding award. Encouraged by its traction, I spearheaded its execution  to become a pioneer in supplying home-cooked food to potential buyers . The main factor I overlooked was doing intensive market research based on the market’s demographics. Due to a lack of in-depth data analysis, the locus I initially defined was an 8km radius, which was far from optimal. As a result, it created a mismatch between the area from where demand was being generated and where the chef was supplying the home-cooked food. Consequently, we levied a considerable cost of transportation and customer dissatisfaction because of extended delivery timings. The  goal of becoming a pioneer not only failed severely , but the loss’s extent was so much that it even eroded our initial seed funding. 

Although I failed in my initial ambition, my failure taught me deep insights into this business. Therefore, I am not let down by this experience. Instead, it has given me a direction leading me to future success. I realize that I conceded this partly because I didn’t discount some factors but, more importantly, because I lacked the necessary skill set. I realized that had I had better analysis skills in synthesizing microeconomic data, I would have developed a better spatial model of the business. I also felt that I needed to hone my skills in optimizing the operations of this business so that the mismatch between consumer and food supplier localities is mitigated. 

My more profound understanding of my failure and firm resolve to stand up again only point in one direction. And that is to pursue a Master’s degree in Business Analytics, where I can bolster my quantitative research skills and get international exposure to similar business models. I am therefore confident that a Master’s degree in Business Analytics will go a long way in pursuing my career goals and ambitions.

You just entered the elevator with a member of the Applicant Review Committee for the MS in Business Analytics. You can only speak to this person on the elevator for a short time. What would you say to this individual so that they would look favorably upon your application? (Max. 250 words)

During my senior year, I was inducted as Management Trainee by British American Tobacco after aced their “Battle of Minds” challenge. I was among the top 5 candidates out of other 7,000 aspirants. I worked there for almost two years, and after a very brief stint at Unilever, one of the leading multinationals, I decided to start my business venture. I looked for seed funding programs and pitched them my idea of supplying home-cooked food to potential buyers. The business idea won a substantial seed funding award. The idea was unique and covered on the local news channels during their prime-time transmission. After initial success, I experienced a downturn in my business. I realized the need to hone my quantitative analysis skills, particularly focusing on the operational optimization of business ventures. While searching for programs, I was excited by the curriculum. The vibrant community and home to more than 400 businesses, is an ideal place to learn and build new experiences. Additionally, the business analytics research centre is a perfect platform where I can test new quantitative research methods to calibrate the optimal spatial model of my business. In short, my strong credentials and desire to learn more align with the core values of the program in Business Analytics and will be ideal for fulfilling my career ambitions. 

One of our core values is Integrity. What does academic integrity mean to you? (250 words or less)

Academic integrity to me means being honest first and foremost to myself and anyone else. For me, it’s a way of life beyond just being honest in academic writing and following rules and regulations. I have stood up for academic sanctity, even against my friends and peers and have never tolerated slight slip-ups. I clearly remember how I had to take a firm stand against my group fellows in a Finance course when they were inclined to plagiarize a business idea. Additionally, when I started my undergraduate, I had many problems with citing during my writing courses. I wanted to learn and uphold academic integrity, so I took an additional paid online course to understand and master the art of referencing and citations. I have ensured that I take academic integrity beyond my university. As an entrepreneur, I have created a platform where cooks from around the city supply food to various customers. Dealing with almost 40 such cooks, I have ensured everyone is treated equally and honestly. For this purpose, I have developed systems where my employees’ names and background details are encrypted against an identification number so that my judgment remains impartial towards them. These are just some notable instances. Still, throughout my life, I have not let my moral guard down and confidently say that my ethical code of conduct strongly resonated with the core value of integrity.

Describe your experience using Excel, Databases or Software Tools. How has this influenced your decision to pursue a career in analytics? (250 words or less)

During my undergraduate studies, I worked with advanced Excel and basic STATA for various courses involving small and medium datasets. However, I realized a massive handicap of advanced data analytics when I started my business venture. I started a business named Homestove – a food sharing application based on the B2C model. Due to a lack of in-depth data analysis, the locus I initially defined was an 8 km radius, which was far from optimal. As a result, it created a mismatch between the area from where demand was being generated and where the chef was supplying the home-cooked food. I realized that had I had better analysis skills in synthesizing microeconomic data, I would have developed a better spatial model of the business. I also felt that I needed to hone my skills in optimizing the operations of this business so that the mismatch of consumer and food suppliers’ localities is mitigated. My deeper understanding of my failure and firm resolve to stand up again only point in one direction: to pursue a Master’s degree in Business Analytics. Through this, I can bolster my quantitative research skills and get international exposure to similar business models.

What is your target industry post-graduation? What impact do you want to make in your industry using analytics? (250 words or less)

In the short run, I would like to restructure my business model by carefully analyzing the individual data. Ideally, I aim to optimize my operations and mitigate the mismatch of the distance between chefs and potential buyers and reclaim the currently lost market share. If successful, I would like to expand my business to other metropolitan cities. In the long run, alongside my business, I would like to provide consulting services to other tech-based startups suffering from a lack of operational optimization of their business. Unfortunately, despite having a lot of potential, most tech-based startups fail because of a lack of proper training in operational research. As a result, they cannot sustain themselves and run out of funding. I would like to provide such firms with the necessary training based on data analytics, business insights and marketing to harness themselves and become profitable.

Please provide any additional information you would like to bring to the admissions committee’s attention. (250 words or less)

I have a keen sense of developing businesses from simple ideas of human needs. During my sophomore year, I developed a passion for console gaming. However, I soon realized my limited options as each game cost around $50. It was my handicap that I started my first business. I formed a virtual club initially with only 17 of my friends who could play up to 17 other games by only paying an additional fee of $20 per day. By the following year, my club had 123 members across various cohorts. Just by renting the games I bought from the initial deposits; I earned as much as $4,000 per month. 

When I joined Unilever, I had many problems having lunch at the office. So, I searched for cooks nearby my office and found a lady who was ready to supply it. Her food was tasty, and soon she had five customers from our office. This gave me an idea to lay down the foundations of Homestore – a food-sharing B2C modelled application. The application’s primary purpose was to create local clusters where domestic chefs and housewives marketed and sold their food to potential buyers within a particular locus. The idea was well received as it won seed funding and got promoted on local news channels’ prime-time transmission. Currently, I am running this business, but I need a data analytics degree to smoothen operations so that I can increase the impact of my venture. 

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Writing the Personal Statement

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The personal statement, your opportunity to sell yourself in the application process, generally falls into one of two categories:

1. The general, comprehensive personal statement:

This allows you maximum freedom in terms of what you write and is the type of statement often prepared for standard medical or law school application forms.

2. The response to very specific questions:

Often, business and graduate school applications ask specific questions, and your statement should respond specifically to the question being asked. Some business school applications favor multiple essays, typically asking for responses to three or more questions.

Questions to ask yourself before you write:

• What's special, unique, distinctive, and/or impressive about you or your life story?
• What details of your life (personal or family problems, history, people or events that have shaped you or influenced your goals) might help the committee better understand you or help set you apart from other applicants?
• When did you become interested in this field and what have you learned about it (and about yourself) that has further stimulated your interest and reinforced your conviction that you are well suited to this field? What insights have you gained?
• How have you learned about this field—through classes, readings, seminars, work or other experiences, or conversations with people already in the field?
• If you have worked a lot during your college years, what have you learned (leadership or managerial skills, for example), and how has that work contributed to your growth?
• What are your career goals?
• Are there any gaps or discrepancies in your academic record that you should explain (great grades but mediocre LSAT or GRE scores, for example, or a distinct upward pattern to your GPA if it was only average in the beginning)?
• Have you had to overcome any unusual obstacles or hardships (for example, economic, familial, or physical) in your life?
• What personal characteristics (for example, integrity, compassion, and/or persistence) do you possess that would improve your prospects for success in the field or profession? Is there a way to demonstrate or document that you have these characteristics?
• What skills (for example, leadership, communicative, analytical) do you possess?
• Why might you be a stronger candidate for graduate school—and more successful and effective in the profession or field than other applicants?
• What are the most compelling reasons you can give for the admissions committee to be interested in you?

General advice

Answer the questions that are asked

• If you are applying to several schools, you may find questions in each application that are somewhat similar.
• Don't be tempted to use the same statement for all applications. It is important to answer each question being asked, and if slightly different answers are needed, you should write separate statements. In every case, be sure your answer fits the question being asked.

Tell a story

• Think in terms of showing or demonstrating through concrete experience. One of the worst things you can do is to bore the admissions committee. If your statement is fresh, lively, and different, you'll be putting yourself ahead of the pack. If you distinguish yourself through your story, you will make yourself memorable.

Be specific

• Don't, for example, state that you would make an excellent doctor unless you can back it up with specific reasons. Your desire to become a lawyer, engineer, or whatever should be logical, the result of specific experience that is described in your statement. Your application should emerge as the logical conclusion to your story.

Find an angle

• If you're like most people, your life story lacks drama, so figuring out a way to make it interesting becomes the big challenge. Finding an angle or a "hook" is vital.

Concentrate on your opening paragraph

• The lead or opening paragraph is generally the most important. It is here that you grab the reader's attention or lose it. This paragraph becomes the framework for the rest of the statement.

Tell what you know

• The middle section of your essay might detail your interest and experience in your particular field, as well as some of your knowledge of the field. Too many people graduate with little or no knowledge of the nuts and bolts of the profession or field they hope to enter. Be as specific as you can in relating what you know about the field and use the language professionals use in conveying this information. Refer to experiences (work, research, etc.), classes, conversations with people in the field, books you've read, seminars you've attended, or any other source of specific information about the career you want and why you're suited to it. Since you will have to select what you include in your statement, the choices you make are often an indication of your judgment.

Don't include some subjects

• There are certain things best left out of personal statements. For example, references to experiences or accomplishments in high school or earlier are generally not a good idea. Don't mention potentially controversial subjects (for example, controversial religious or political issues).

Do some research, if needed

• If a school wants to know why you're applying to it rather than another school, do some research to find out what sets your choice apart from other universities or programs. If the school setting would provide an important geographical or cultural change for you, this might be a factor to mention.

Write well and correctly

• Be meticulous. Type and proofread your essay very carefully. Many admissions officers say that good written skills and command of correct use of language are important to them as they read these statements. Express yourself clearly and concisely. Adhere to stated word limits.

Avoid clichés

• A medical school applicant who writes that he is good at science and wants to help other people is not exactly expressing an original thought. Stay away from often-repeated or tired statements.

For more information on writing a personal statement, see the personal statement vidcast .

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Biden announces a fresh round of $7.5 billion in student loans canceled

Income-driven repayment plan faces legal challenges.

The Biden administration announced ]more student loans are eligible for cancellation.  ( iStock )

President Joe Biden is keeping the ball rolling on student loan forgiveness, canceling a new round of loans as his administration crafts a new plan to target even more outstanding student debt.

The latest round of cancelations targets $7.4 billion in student loans for 277,000 borrowers, the Department of Education said in a  statement . This brings the total debt forgiven over Biden's presidency to $153 billion. The discharges are part of the Saving on a Valuable Education (SAVE) Plan, which offers a faster route to forgiveness.  

"Today we are helping 277,000 borrowers who have been making payments on their student loans for at least a decade," U.S. Under Secretary of Education James Kvaal said. "They have paid what they can afford, and they have earned loan forgiveness for the balance of their loan."

More people are becoming eligible for student loan cancelation as they hit 10 years of payments. Since the launch of SAVE, nearly 8 million borrowers have received relief, including 4.5 million with a $0 monthly payment. Student loan forgiveness has reached millions even as the  Supreme Court blocked Biden's original debt forgiveness plan  last June.  

The Biden Administration has also  released initial details  of a new set of plans that would provide student debt relief to over 30 million borrowers, including the 4 million who have already been approved for debt cancelation over the past three years. The new plan also proposes to eliminate accrued interest for 23 million borrowers and automatically discharge debt for borrowers eligible for loan forgiveness under SAVE, closed school discharge, or other forgiveness programs, even if not enrolled. Additionally, student debt for borrowers who entered repayment for 20 or more years would be discharged.

Private student loan borrowers can't benefit from federal loan relief. But you could lower your monthly payments by refinancing to a lower interest rate. Visit Credible to speak with an expert and get your questions answered. 

BUY A HOME IN THESE STATES TO GET STUDENT LOAN DEBT RELIEF

Some borrowers miss out on SAVE

Biden's SAVE plan could lower borrowers' monthly payments to zero dollars, reduce monthly costs in half and save those who make payments at least $1,000 yearly. Yet roughly three out of four borrowers who make $75,000 or less annually and would benefit from the SAVE plan still need to be enrolled, according to a recent Student Debt Crisis Center (SDCC)  survey .

Part of the problem is the lack of communication between student loan servicers and borrowers, according to the survey. Every student loan borrower is assigned a loan servicer to help them navigate repayment options, including income-driven repayment (IDR), which can make payments more affordable. 

More than half of borrowers who contacted their student loan servicers with questions about resuming payments were left with unanswered questions. Moreover, a quarter of borrowers don't trust the information they get from their servicer, and 75% said the information they got was inaccurate or incomplete.

"As a student loan borrower myself, I know firsthand how frustrating and harmful these communication errors can be, "SDCC Managing Director Sabrina Calazans said. " Borrowers need more communications coming directly from the Department of Education, given their lack of trust in their respective service providers."

If you're having trouble making payments on your private student loans, you won't benefit from federal relief. You could consider refinancing your loans for a lower interest rate to lower your monthly payments. Visit Credible to get your personalized rate in minutes without affecting your credit score.

HOMEOWNERS COULD SAVE TENS OF THOUSANDS IN DAMAGES BY USING SMART DEVICES

Legal challenges to student loan forgiveness mount

Republican-led states  filed suit  against President Joe Biden and the U.S. Department of Education to stop the SAVE Plan. 

The lawsuit seeks to halt the SAVE plan immediately, arguing that the U.S. Department of Education has no authority to alter student loan repayment plans. This would essentially cancel more than $156 billion in student loan debt. The attorneys general from Alabama, Alaska, Idaho, Iowa, Louisiana, Montana, Nebraska, South Carolina, Texas and Utah joined the suit.

The lawsuit also argues that the U.S. Supreme Court ruled that Biden's original forgiveness program violated federal law and that only Congress can authorize the forgiveness of student loans, which requires spending taxpayer money. 

A  statement from the Education Department  said Congress gave the agency the authority to define the terms of income-driven repayment plans.

If you hold private student loans, you won't be enrolled in a federal income-driven repayment plan, but you could refinance your loans to a lower rate. Visit Credible to compare options from different lenders without affecting your credit score.

MORTGAGE LOAN LIMIT RISES ABOVE $1.1M AS HOME PRICES SURGE

Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at  [email protected]  and your question might be answered by Credible in our Money Expert column.