This video provides a very simple framework for success.  Use it to improve your MBA interview skills.  Though the framework is simple and easy to understand, you must prepare by practicing your response.  The first answer you give sets the tone for the entire interview.  You want to be polished, comfortable, and confident as you express yourself.   Take the time to practice so you can express yourself well.

Feel free to post any comments or questions below.  The application season is in full swing and it is time to sharpen your MBA interview skills.  For most applicants, the interview is the only time you will be able to tell your entire story and have the admission officer’s complete attention.  You should do your best to make the most of the opportunity.

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On the other hand, the MBA job conference setting can be very intimidating.  There are SO many companies and they are all evaluating you at once.  When you approach a booth, you must have your “story” down cold.  If not, there is another highly qualified MBA standing right behind you waiting for their turn to speak.

In order to make the most of your MBA job conference experience, be prepared.  Do not think you can show up and “wing it”.  Know which companies you are targeting and know how to impress them.  Here are five tips to help you dominate at your next job conference. *

• Know your Goals. Target a select few companies to pursue. Are you trying to get an interview or a business card? Know what you want before your approach the booth.
• Know the Scene. Know the location of your target company’s booth. Look at a map of the conference center before you walk in. Be careful not to “wander” the conference floor.
• Be Early. Be one of the first people in the door at the conference center. Early in the day there are less people, the recruiters have more patience, and you can earn an interview for later in the day. If you get started late, you will be part of the mob and it will be more difficult to differentiate yourself.
• Be Energetic. It is difficult to smile in the face of people you don’t know, but give each conversation as much positive energy as you can. The longer you are in the conference center the less nerve you will have. Get in. Do your work. Get out.
• Be a Closer. No matter how good or bad the conversation goes, do not leave without a business card or contact number. Do NOT leave empty handed.

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Do you:

• Change your mind several times a day? Does your indecisiveness keep your employees “on their toes”?
• Ask your software technicians at work to do personal favors? Like help set up your satellite dish at home or repair your son’s PSP?
• Send emails at 2am? Because you are up working late night EVERYBODY should be just as dedicated…right? I mean the “Blackberry buzz” is always a sign of emergency…right?

Check the article out.
Worst Boss Ever

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Corporate Finance. This team is like the financial consulting arm of the bank. You will provide strategic advice in fund raising and merger situations. To do well on this team, you must have a good understanding of foreign exchange, economic trends, and specific financial strategies. As an MBA you will normally begin in the associate role with an opportunity to supervise some analysts.  You should plan to be in the associate role for about 3-4 years.

Sales/Trading. Corporate Finance comes up with a new proposal it is the job of the Sales/Trading team to sell this new item to the marketplace. As part of your role, you will have to interpret news, events, and market shifts to your clients. Your clients invest large sums of money with you and they do not like to hear about bad news in the market.  Your job is to keep bad news from creating a panic in your clients.  If you can move sales volume and grow assets the under your control, you will be rewarded well.

Research. This team is typically separated into fixed income (debt) and equity departments. If you work in this group you probably focus on a particular industry such as software, oil, or health care. Simply  put, your will need to consistently predict the direction of stocks in your given industry.  You are responsible for the buy, sell, and hold recommendations that guide investor decisions.  The best analyst is the person whose   predictions are closest to the real quarterly results of the companies in their focus group.

Investment banks come small (boutique), medium (regional), and large (bulge bracket). Depending on the kind of company you work for your particular experience may vary.  Still, it is important to say again that a successful investment banker understands more than number crunching.  Your clients depend on your financial knowledge and judgment.  Understand your role as best you can and provide your clients top notch advice.

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Raise money for a company. In industry terms this is called “pricing a securities offering”. This is the first important element to understanding investment banking. If a company is trying to borrow money it will use an investment bank to sell bonds on the open market. If a company is trying to go public it will use an investment bank to sell shares of stock for its initial public offering (IPO). In both cases, the investment bank will work hard to make sure there are investors committed to purchasing the issue of stocks or bonds before they enter the marketplace.

Set the value of a company. In industry terms this is called “valuing a merger or acquisition”. This is the second important element to understanding investment banking. One company may be buying another, or two companies may be coming together to create one larger company. In either case, much analysis is necessary to set a proper value for the companies involved. The investment bank looks at past performance, current assets, and future projections in order to determine what the appropriate pricing should be.

For MBAs an experience in investment banking can be very potent. If you are finance oriented, it is clear to see why you are interested in understanding investment banking. To dig deeper, look into the operations of the larger, full service investment banks such as Goldman Sachs, Lehman Brothers, and Merrill Lynch. A position at these esteemed firms will be extremely valuable no matter where you decide to take your career in finance.

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So then what should you do? First understand that leadership is much more of an art than it is a science. It isn’t so much about what you do, but instead how you do it. The good news about this is you can use your own characteristics of effective leadership in almost any way you like. The bad news is this still leaves the question open to lots of interpretation. Here is some help to be sure you are most effective in your leadership role.

One of the main characteristics of effective leadership is clarity around the impact you want to make. If you are going to lead any group in any direction you must have your own picture of where you are going. Take the time to understand how your strengths will positively impact the situation you are in. Below are 6 simple questions to help you think through your leadership thoughts.

• Who will benefit from your impact? Who are your major stakeholders? Are they defined by race, gender, or social status? Your impact has a target audience and you must know who they are.
• What is your impact? What positive change is going to take place? Be specific on the difference you will make in the world of business.
• When will your impact happen? How will you make the world a better place today? Don’t “wait for the right opportunity”. Instead, use your business savvy to affect positive change as quickly as possible.
• Where will your impact occur? Is your focus local, regional, national, or global? Be clear about where your impact will occur and seek out the resources you need to enable it.
• Why does this impact matter? Why should people prioritize your cause? How will you positively affect them? Make sure you can show people why they should be interested in the impact you are trying to make.
• How are you going to deliver? What special skills do you bring to the table? Why should you be the one to lead the charge? Have confidence in your skills and show your competence daily.

Once you have clarity around the who, what, when, where, why, and how…execution is much easier. Now you can quickly explain to your team the direction you are taking them in. Your team will see the value of their efforts and this builds trust in the event challenges occur. This may seem simple, but give this a try and you will soon see why clarity is one of the most crucial and difficult characteristics of effective leadership.

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But that coin has another side…

An MBA degree can also “spoon feed” you information that is best appreciated through hard work. Sometimes, MBAs enter new work environments with a clear under appreciation for the hard work that goes on around them. Some MBAs assume deep understanding in a certain topic when they may have only done a project, written a case, or completed a summer internship. This attitude is not only improper, but also challenges the relationships you need to be most successful in the workplace.

Here are three things you can do to be sure that you enter the workplace in the right spirit:

• Touch the product - You need an intimate understanding of the product, not just a high-level understanding of it. Get a product sample, break it, and put it back together. Then go talk to an engineer and see if you got it right.  Let them teach you the ins and outs of what you sell everyday.
• Talk to the customer - Does your customer use the product for the same reasons for which you sell it? Are you sure? Call a customer up and ask them. Ask if they like it the product. Ask if a competitor offers a better version. See what they say.
• Take a walk - Get from behind your desk and interact with people in other parts of the business.  Get out in the field and talk to your sales reps.  Ask your call center what the most common questions are. Ask the old-timer about the “good times” the company used to have.  Interact with the people and processes that surround your product.  See what you learn.

There is nothing wrong with having an MBA degree, but there is always a little more to learn.  Feel confident that everyone around you has something to offer that makes the business better.  Find out what it is and make the most of your work environment.

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• Do you feel angry? - Are you “proving yourself” to all of those that doubted you early in your career?
• Do you feel compelled? - Do you feel a responsibility to the world at large?
• Do you feel obligated? - Does your family require you to work to maintain your standard of living?

Clearly, you are motivated to do great things.  Your motivations took you back to school to pursue professional advancement. But does your motivation come from the right place?  Are you fueled by negative or positive ambitions?

Do you work because you want to or do you work because you have to?  Do you work solely for the money or is there another benefit to the amount of time you spend at work?

I’m sure you have heard the point of work/life balance.  There is nothing original about that.  We all nod our heads when someone talks about it, but do you have it?  Did you invest in an MBA degree just to get another “job”?  Did you choose that “job” because you wanted it or because you felt like you had to have it?

Why did you go back to MBA school?  Did you want to:

• Have a greater effect on a certain cause?
• Expand your network?
• Make over 100K/year?

What was the impact you were looking to have?  Is that impact happening?  Or are you allowing something else to impact you?  What drives you to work the way you do?  Are you driven by positive or negative ambitions?

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Do you really need an MBA to work in the entertainment industry? Which schools should you target? What kind of job should you look forward to? Here are three big things to think about as you consider your next career step.

• MBAs are business people…not entertainers. Be 100% honest with yourself on your intentions for being an MBA in entertainment. Understand that MBAs are highly trained business people that specialize in the traditional functions of business. You will most likely work in marketing, strategy, finance, supply-chain management, or a similar function. If your passion is to produce music with the latest music mogul, an MBA is probably not the best path. However, if your passion is to start your own record label and control all distribution…now you are thinking more like an MBA.
• Jobs will come from networking…not on-campus recruiting. With only a few exceptions, entertainment companies do not recruit at MBA schools. Most entertainment companies hire “industry insiders” with relevant experience and contacts. Your main mission during business school will be to become an “industry insider”. This is easiest if you choose an MBA program in a strong media market. Los Angeles and New York are two great places to start looking. These schools will have the most targeted classes and the most connected professors. Still, your success will come from your ability to gain experience, exposure, and new contacts. Leave no stone unturned.
• Opportunities may not come as quickly…but they are there. Companies like Citigroup, Kraft, and Accenture typically have fast track programs to accelerate an MBA’s growth within the company. Companies like Arista Records, Warner Brothers Pictures, and Vibe Magazine typically do not. Your MBA degree alone will not catapult you into the executive ranks. As a matter of fact, you are probably going to have to make a lateral career move in terms of salary and responsibility. Your career will accelerate once you establish your unique niche in the new culture. Be patient, and know that opportunities are everywhere.

I want an MBA and I want to work in entertainment…how do I get started? Each year there is a pool of MBA students with aspirations very similar to yours. Know that there is support for you not only at your school, but also across the country. There are multiple conferences held each year where industry executives meet and discuss new business trends. For example, http://www.mbamec.com/ is a good place to start. Another tactic is to work for a more traditional company and focus on the entertainment sector. Think about how many companies leverage entertainment to build their brand and pursue some of them.

Most importantly, know that this can be done. Quality companies need quality people and entertainment companies are no different. Be clear about your ambitions, meet plenty of new people, and learn as much as you can. Good luck to you!

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Here is a very simple and powerful framework to help you clearly express your unique value proposition and IMPRESS employers.

Be Qualified, Be Different, Be Relevant is a guiding philosophy for EBC that helps our clients clearly express and pursue their career path. If you can express these three things clearly in own unique voice you are bound to be IMPRESSIVE.  Watch the video and tell me what you think.

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