NYU – Stern School of Business Sample MBA Essay
Prompt: Think about the decisions you have made that led to your current position. Past: What choices have you made that led to your current position Present: why is a stern mba necessary at this point in your life?
I have always desired a career that requires innovation, educated risk, and foresight. I learned to respect these qualities from my father, a Lebanese immigrant who worked for years to create his own business. Through his example, I have seen firsthand the advantages and challenges of self-employment–the rewards to be gained and the total commitment required. My goal is to create a business based on my own ideas and efforts, and have made decisions aimed at bringing this dream into fruition.
After graduating from college, I accepted a position as the manager of an established German restaurant in San Francisco. I had been the evening manager there for nearly two years while attending college, and knew that the restaurant was struggling. For several years, high overhead costs and poor marketing had brought revenue to a minimum. I saw the position as an intriguing challenge; I knew I could dramatically increase the restaurants profitability. Immediately after accepting the position in July of 1995,I addressed the most significant problem: high overhead from overstaffing, food waste, and unnecessary purchases of supplies. I lowered each of these expenses while maintaining the restaurants quality and efficiency. My next target was marketing. Inexpensive advertisement in local newspapers, attractive signage, and Internet postings brought in many new customers. In the meantime, I took control of the accounting, eliminating the need for independent help. The increased revenue and decreased spending had an immediate effect. At the end of 1996,the restaurant reported a profit for the first time in six years. I remained with the business until it was sold in 1997,monitoring these changes in order to provide lasting improvement.
Although the position made me realize that the restaurant business did not appeal to me, those two years reaffirmed my desire to operate my own business. I had not abandoned my education during that time; while working at the restaurant, I had taken real estate courses in the evening and passed the California State Broker exam in 1996. My brother and I launched our own property management company in April of 1996,and it quickly grew. We currently have seven commercial properties under management. Our responsibilities include leasing, accounting, and property maintenance. In 1997,I began working as a broker with a commercial real estate company, largely to gain the knowledge of retail to improve the leasing and sales division of my company.
I am currently employed in a sales position with a private business bank in San Francisco. I was hired to bring business into the bank, which rarely advertises, preferring to attract business primarily from referrals. My responsibilities include interacting with potential clients, selling loans and deposits, and account maintenance. This job has given me better understanding of sales and finance, which is crucial to the success of any business.
Although my ultimate goal is to grow our property management company into a full time business, these positions in other industries have been invaluable learning aids. Property management requires an extensive knowledge of real estate, banking, accounting and sales. I now feel confident that I have gained valuable experience with my work. However, I know that earning a graduate degree will further enhance the skills I need to develop a viable company.
The Leonard N. Stern School of Business at New York University will allow me to learn from the finest teachers, interact with the brightest students, and experience one of the top graduate programs in the United States. I can only anticipate the invaluable knowledge and training I will gain from being a part of this program. Although my work experience has been extremely important, the NYU Stern School of Business will be equally as educational. It will allow me to incorporate my experiences with other equally ambitious students, and to broaden my goals, ideas and perspectives.
A graduate degree in Management and Organizational Behavior is a significant asset to any business owner. The first year curriculum of accounting, management, finance, marketing, and economics will enhance my knowledge of the basic foundations of business and management. During my second semester, I will enroll in the track courses of Entrepreneurial Studies. These classes will teach me advanced business techniques and their successful implementation. In addition, Stern-sponsored, non-academic entrepreneurial organizations will be both educational and enjoyable. I view these as an opportunity to meet students who share similar goals. They will expand my awareness of new business concepts within our quickly evolving economy–which I hope to incorporate into my own company. The experiences available at NYU are myriad, and a degree from the Stern School will propel me toward the realization of my professional goals.