Most ofthe people don’t know how ultimately powerful the MBA experience is in shaping a new business concept and getting it successfully off the ground. Those who have studied MBA use their educational experience to incubate new companies, and most of the business schools are adding professors and entrepreneurship centers to effectively turn themselves into launch pads for new businesses. At Stanford’s Graduate School of Business, 18% of 2018 year’s class chose to do a start-up. That’s significantly higher than the rate from the days of the late 1990s, when 12% of the class went the entrepreneurial route. Entrepreneurship is not only alive and well at business schools but all over the globe. It is also becoming a thing of interest, pulling freshly minted graduates away from the consulting, finance, and marketing jobs that have long been the mainstay of the traditional MBA. Below are some Business Start-up Ideas for MBA Students which will help them to kick-start their business.
1. Advertising Consultant - An advertising consultant can be either engaged by a consulting firm or may be self-employed as an advisor with his own firm. As an Advertising Consultant the roles that are needed to perform are: Meetings with prospective clients, market research about target market demographics and streamlined and custom advertising campaigns. Social media can be used properly for an online lead generation. One can also start the business taking office with computer, printer, designers etc. all. If starting up business as an advertising consultant is the motive then this business plan will get you off to a good start.
2. Asset Management Company - Establishing an asset management company is a perfect business opportunity for the MBA infinance students. In Assets management, you will need to provide the advice and guidance to your clients about proper fund investments and buying securities. And as you deal with other’s finance, you must be highly responsible.
3. Business School - Building a business school is definitely a big business. It requires intensive market research, effective planning, and mainly start-up investment. However, it is an interesting and self-rewarding business for the MBA graduates. Basically, business schools are university-level study centers that offer degree courses in business administration and management.
4. Corporate Training Service - Corporate training is a million dollar industry throughout the globe. It offers different types of training to the employees across different organizations. Also, the corporate training companies help freshers to be prepared for the job. However, it is a specialized segment. And depending on your expertise and skill, you can provide corporate training service in exchange for fees.
5. Debt Management Consulting - As an MBA graduate in the finance stream, one can consider starting a debt management consulting company. Companies dealing with financial products and manufacturing products often look for this type of services.Debt collection and debt recovery are the primary responsibility of a debt management company.Debt recovery and management are the two sides of the same business. There are so many people out there who are suffering from bad credit reports, you could start a business to help such people negotiate with their creditors and get more favourable interest rates and payment patterns. On another note, you could help businesses recover debts from their debtors and earn commission from offering such services.
6. Financial Advisor - Financial advising is a challenging and responsible career path for any individual. With an MBA degree in the finance, you can start a financial advising consulting company with minimum investment. You can also start the business as the part-time. Some of the prominent areas are investment, debt, funding, break even, ROI etc. An I.T professional who sets up his own cloud computing business is a complete novice when it comes to issues like investment, taxes, insurance and interest rates. Such people require the services of financial advisors to help them out with the financial aspects of their business.