The Clarity Of An Entrepreneurial Mindset: Career Development & Personal Branding

The Clarity Of An Entrepreneurial Mindset: Career Development & Personal Branding

Viewpoint by Andrew Scharf, Head of the WCW Group

Few areas of business attract as much attention and creativity as launching new ventures. Do you see yourself as the new Apple or Google? Or do you prefer launching the latest in concept store zeitgeist "a la Colette" in Paris on the rue St. Honore? Luxury Brand Management also has its acolytes; it is sexy and offers a romantic allure to business. Do you prefer to see yourself as a tycoon, starting your own hedge fund or real estate portfolio? Then again, perhaps you spot an opportunity: the new hula hoop? Famous Amos Chocolate Chip cookies? The "next Dean 'n Deluca?

One thing is absolutely clear. Business must be a passion in the real meaning of the term. You must want to wake up in the morning like when you see the glorious sunlight on an island off the coast in Maine and say, "Wow! Today is glorious!"

It should not be a day of dread, worry, or drudgery. The power to Now is in your own hands. Use it. Want to be inspired? Then watch Ang Lee's cult movie, "Hotel Woodstock". It is a film about entrepreneurship in action, overcoming the odds, and the story of how a generation lived a "dream". The positive attitudes of the 1960s & 1970s of "we can make the world a better place" was not just a wisp of smoke and idealism. It was real as long as people had the "right" attitude on making it real. Dreams die when people cease to dream what is good and worth living for.



At the root of all dreaming is the "entrepreneurial mindset". This has become an ubiquitous term in business today. However, like in most things, there is a genuine currency of the realm. It is spawned from positive action and thinking. Believe and you become. There is a light this morning shinning through the treetops here in Paris, which is absolutely magical. If you could only see it now. The birds are singing and it is gold. The air is dry and cool. OK, it is only 7h30, but the day is fresh. There are infinite possibilities. A dove coos and I pour myself another espresso.

If you are planning to instigate changes in your career, this is the best time to start: When your mind is fresh and your limbs feel the spring of energy, which can only come from the light. All entrepreneurs know the value of coherent business planning.

How To Plan & Avoid Confusion

However, how many MBA applicants recognise that career planning and change require the same insight when tackling the quirkiness of the MBA essays? I have already previewed this years upcoming MBA essays. Some of the questions are well conceived, some rather classic, and others are "special" in the French meaning of the term.

There are countless books and articles published on the subject in the media, attempting to dissect the subject, offer pointers, and of course, try to sell you something you really don't need. Firms have sprung up out of the ground like weeds in a garden. They distract and cajole with magical promises like soothsayers at a country fair.

Increasingly, MBA applicants are more confused and bewildered by the onslaught of contradictory advice. Judging by all the hoopla, you would think that only a magician could help. Secondly, many MBA candidates feel that the only thing standing between themselves and admittance to a top MBA is a sleek set of essays, charts, CV, and when possible, meticulous spreadsheets.

Nothing could be farther from the truth.

What is demanded is thoughtful, well-constructed ideas based on fact, accomplishment and a precise reason for your career path.

This is the question, which shoots down most MBA applications:

Tell us about your career aspirations and why now?

Answer:
First, there is no no ONE answer. The question can take into account short term as well as long term career goals. The answer should not be vague or float. It needs to be well thought out. Concrete but not drown the reader in too much detail. Even though you can completely change what you are doing, there must be established a clear thread of feasibility and practicality.

On the basis of what we have seen at Whitefield Consulting Worldwide (WCW), many would be MBA candidates rank the importance of the MBA essays on a scale of 1-10 at a "2". Little if any foresight is given to the essay content. Many cannot fathom why certain past professional experiences are of less interest to the Admissions Committees than others. Some dig deep back into the distant past. Others, neglect the points which could help their profiles stand out of the pack.

Answers cannot be generic; they must be up front and "personal" but with a clear professional voice and vision. In essence they require an entrepreneurial mindset with innovation, pragmatism, and determination.

In many regards, the MBA application process is a ringer. It is an endurance marathon, and the competition for attention is steep. To make your venture-career change a success your "uniqueness quotient" must shine like the nose of Rudolf the Red-Nose Reindeer.

I said "shine", not exaggerated or worse "lie".

An MBA application will flop if you can not grab the attention of the AC in a distinctive way. Despite the hype of the business school promo tours on taking "only" exceptional professionals, most people have the "right" credentials and experience. What they cannot do effectively is sell their "distinctiveness". They are too close to the "product" and fail to see the power of "branding".

How can it be that so many MBA applications flounder, when the people in question really do have the potential and talent to succeed in business school, and more importantly, in their post-MBA career life?

The answer is relatively straightforward.

Most MBA applicants waste too much ink on numbers and dead-in-the-water descriptions of themselves and events. Events and projects must be brought alive to demonstrate your passion and commitment. The business schools are not just filling seats, they are actively shopping for their future alumni network.

They want to know in no uncertain terms that you will be an active member of their international network and community. Failure to make this point on what really matters to the AC, and you receive the proverbial "pink slip".

In finance, investors pore over projections for a new company. In business schools, they pore over the feasibility of your career plans on the basis of past achievements, team work, and personal character. They look for key suitability traits which match the character and culture of their academic institutions.

The AC knows when MBA applicants pad their files with wild assumptions, which are overly optimistic. They can identity who will really serve the community in NGO activities and who is just sounding off because it sounds good in an essay.

Do not make the mistake of creating a vicious cycle of inaccuracy of spelling mistakes that benefit no one. Don't misunderstand the task at hand, which is to sell a product which bears your name. The product can not be lifeless; it must breathe. Think of the essays as a business plan in entrepreneurial terms. The drivers of your success depend on this.

Your business model should show more than just a 'break even point'. It must make an impact.

Key Points To Consider

It is all well and good to talk about leadership. How many people really have held true and measurable leadership roles?

What about the international dimension?

The leading MBAs all pride themselves on an international student body. More importantly, they want to see cultural sensitivity and real overseas experience. Holidays in Bali do not count. Ever ride across the plains of Mongolia and help the inhabitants by setting up village schools or bringing in fresh sustainable water supplies free from bacteria and disease?

Maybe you should this summer before you apply in the Fall 2010.

The Road Map

In addition to the details, it is advisable to construct a road map before embarking on the MBA essays.

You need to identify: The People, The Opportunity, The Context, and The Risk & Reward.

The MBA is going to be either one or two intense years of catalytic change in your work, mindset, outlook, and even the way you perform. It is an excellent investment in career enhancement.

Why jeopardize the benefits, which can be yours by submitting an MBA application and essay package which does not do you justice either as a professional or person?

Now is the best time to exercise the clarity of an entrepreneurial mindset!


For Further Information

If you are seeking help with your MBA prep, "prepa", career, law, undergrad business or non-business school selection, send us an email. We can counsel you on how to best choose and plan for your career development.

Visit:
http://www.whitefieldconsuting.com
or send an email with your CV as an attached word document to: enquiries@whitefieldconsulting.com

About The Author

Andrew Scharf is a regular contributor to WCW inSIGHT on leadership and Business Education Trends. He is also the head of the MBA Coaching & Career Development division of Whitefield Consulting Worldwide, whose unique coaching methodologies have helped countless professionals harmonise their professional aspirations with their developmental needs at levels from "Prepa" to Executive education.



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