how to start a personal statement for business management

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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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• Business Management Personal Statement Examples

Applying to business management school? You will need a strong personal statement to support your university application. Use our business management personal statement examples as a guidance to write your own. Also, make sure to check other personal statement examples for more inspiration.

Business Management Personal Statement Example

The key to any successful business is good management. In order to adapt to the constant shifts of the global economy, businesses must apply methodical reasoning to people, processes, and technology. I have demonstrated a similarly flexible, adaptable approach to achieving my goals as a mature student with strong academic achievement in Administration and IT and extensive employment experience.

As soon as I graduated from school, I began working. However, as my desire to return to study grew, I combined my work experience with study to earn HNC and HND qualifications in Administration and IT. The IT component of this course has particularly intrigued me because of my interest in how technological processes impact business. It has also been fascinating to learn the theory behind the administrative and organizational practices I have implemented and observed throughout the years.

My experience as a news agent’s kid has given me hands-on experience in both financial and personnel management, including customer service, stock management, and liaising with suppliers. Having always been involved with business and management within the industry, it was perhaps not surprising when I decided to gain more experience in retail. In order to allow my passions for both the technological and financial aspects of these roles to flourish, I sought out experiences that allowed these passions to flourish. I used my expertise in providing excellent customer service while working as a Telephone Banking Advisor for Porta Wealth Management to counsel clients on the best services, weighing the benefits and drawbacks of various products in relation to their needs. Additionally, I was in charge of looking after databases, working on banking policies, and implementing rules set forth by the FSA. Moving between small, local firms and multinationals has allowed me to study the differences in administration and management, as well as how technology affects these.

As an ambitious student with a keen interest in business and management, I am constantly seeking out new ways to further my understanding and skill set. In my spare time, I delve into a diverse array of management techniques and put them into practice in both my personal and professional life, allowing me to achieve my goals and aspirations. One of the most prominent examples of this is my leadership experience as the Treasurer, and later the Chairperson, of my local Women’s Power Business Group. In this role, I have been actively involved in a variety of volunteer and fundraising initiatives, as well as organizing workshops to support isolated or vulnerable women and their children in my community. Not only has this role given me the fulfilment of making a difference, but it has also provided me with invaluable experience in implementing leadership, teamwork and administration skills in a real-world setting. I have also been able to infuse my other passions, such as my love for walking, by initiating annual sponsored events like a 5K walk for Breast Cancer Research. This unique blend of my interests and skills has allowed me to develop a well-rounded perspective and provided me with a valuable learning experience.

Having a natural inclination toward the management of people and processes as a persistent self-starter with a drive for improvement. As a result of consistently reflecting on myself in my studies and work, I have been able to identify areas for improvement and think critically about my own performance. In my undergraduate studies, I have not only honed this natural tendency but also gained knowledge on technology integration, which I believe will be crucial in the business world of the future. After graduation, I hope to utilize this knowledge and ability to make a significant impact. I’m determined to make a real impact in the business world, whether I start my own company or take on a key role within a larger organization.

Management Personal Statement Example

Being a very determined and studious individual academically, I knew a university degree was an obvious next step. In spite of my broad interests, I am drawn toward a law or business management degree. As far as Business is concerned, I chose it because of its complexity and intrigue. Management blends so seamlessly with everyday issues that I particularly enjoy. In taking the subject at A-Level, my interest has grown and matured, and I can view many businesses analytically and make suggestions regarding improvements. Law is an area which has interested me from an early age. I am an avid reader and believe that this habit is crucial when it comes to pursuing a career in law. I feel that my attributes make me an ideal candidate for the field as I possess a keen attention to detail and am intrigued by work that deals with contemporary social issues and the need to analyze and present evidence effectively. Additionally, I believe that the psychology coursework I have completed has helped me understand how people’s perspectives and recollections can be influenced by various factors. This type of work demands a certain level of self-assurance, which I am confident that I possess and can leverage to excel in the competitive sphere of law.

Throughout my career, I’ve had the opportunity to work in a diverse range of roles and environments, and this has helped me develop a broad range of skills. However, among all the experiences, I’ve had the privilege to work for Royal Worcester in the Debenhams store which I believe has been the most formative of all. Being a sales advisor in such a high-end company has taught me to have a self-assured demeanour, and I have also had to cultivate a good memory to be able to provide customers with accurate product knowledge.

Additionally, I was assigned the duty of training a new employee, demonstrating the great level of confidence my employers have in me.

From holding the role of form captain in secondary school to helping with the planning of large-scale festivities in college, my educational experiences have been quite useful to me. These kinds of responsibilities have enabled me to grow up and take my roles seriously, earning the respect of my coworkers. As English Prefect in Year 11, I was responsible for supporting the entire English department, which took up a significant amount of my time. I also had a piece I wrote against the mistreatment of women on French television published in the daily “Paris Local News” as a result of my interest in the French language. I was pleased to have my opinions represented.

I have always been passionate about languages and during secondary school, I took evening French classes. My dedication and hard work were recognized when I received the ‘The Best Student of the Year’ award for my outstanding performance. These classes required me to manage my time effectively, so my schoolwork did not suffer. Furthermore, being raised by German and French parents has helped me to achieve fluency in the language.

Aside from languages, sports and leisure activities have always been an interest of mine. In college, I used this passion to do charity work and raise money for ZBIN. One of my accomplishments includes raising £1050 and abseiling 120ft down London University. 

Additionally, I played netball for the local Netball Team and competed in the OGI UK Games for the Wembley Stallions AFC team. My performance was recognized with several trophies, as well as a gold and bronze medal in the long jump and javelin respectively.

How to write specific paragraphs of your statement:

I have always been fascinated by business and the way that companies and large organisations work. From my first steps, I have been an entrepreneur at heart, always finding ways to make a little extra money selling lemonade at the promenade or starting school projects. With my personal development, my interest in business has only intensified, and I have come to realise that business management is something I want to study at school. Read more in management personal statement examples .

I believe that a business management degree will open many doors for me and provide me with the flexibility to pursue a wide range of career paths. Whether I decide to start my own business or join an established company, I know that the skills and knowledge I gain will be invaluable. 

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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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• Business Management Masters Personal Statement Sample

Written by Hannah Slack

This is an example personal statement for a Masters degree application in Business Management. See our guide for advice on writing your own postgraduate personal statement .

Businesses have been instrumental in building our modern way of living. The versatility and innovation of business quickly captured my attention when I started my first job, and my interest has only continued to grow. Having undertaken various work experience roles and achieved a 2.1 in my undergraduate degree, I intend to further my education through a Masters. My main interests lie in strategic management and marketing as I enjoy learning new methods for existing and succeeding in an increasingly globalised market.

I have always been a self-motivated worker who is not afraid of a challenge. I am particularly drawn to management and marketing roles as they are often fast paced environments, involving different tasks and decisions each day. They also allow for a healthy balance between both independent and group work, which I believe is vital to running a successful business with engaged staff. My undergraduate work placement in an international marketing company enabled me to first-hand experience the fast-paced and efficient work style of successfully competing companies. I was also able to understand more about how to plan and manage a large staff force to make sure the business can perform and compete at optimum levels. Furthermore, last year I had a part-time job in a small local business which enabled me to learn and develop valuable skills in growth and future planning which are vital during the early stages of a young business.

In addition to my qualifications and work experience, I am a keen basketball player and often represent my club at the local leagues. Both my successes and failures in sporting competitions demonstrate my constant desire to improve and my determination to continue even in times of failure. I have also had the opportunity of being a team captain and coaching younger league games. Both roles allowed me to develop my leadership and strategy planning skills.

I am applying to your university because it offered the best array of modules for me to both improve my knowledge in my current interests and explore new areas of Business Management I am less familiar with. I was also particularly impressed by the wide array of connections the department has that will guarantee each student an invaluable work experience opportunity. I believe that your university will be the best institution to take my education to the next level and enable me to compete effectively as a strong candidate after graduation.

I think that I will be an excellent fit for your department as I enjoy involving myself in extracurricular activities. I am therefore excited to apply for leadership roles in the some of the postgraduate clubs and organisations the department offers. And, if the opportunity presents itself, I would be interested in creating and running my own project with my fellow peers.

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A Guide to Writing A Business Management Personal Statement

Table of Contents

Do you intend to apply for business management in any school of your choice? If yes, a personal statement will come in handy for your application. The personal statement example for business management in this article will guide you to write the perfect one.

A personal statement is almost always mandatory for university applications. Therefore, it’s important to create a statement that will let a school know why you are suitable for admission. This article details the steps for writing the perfect personal statement. You can also edit the provided samples to suit your requirements.

What Is A Business Management Personal Statement?

A personal statement is a document you write to introduce yourself to a potential educational institution . It will determine if you will be invited for an interview by the selection committee. What you include in your statement will clearly show your priority to the selecting committee.

Highlight your skills and experiences in business and why you are interested in pursuing a career in the field.

Why Is It Important to Write A Personal Statement?

The most critical part of the school application process is writing a personal statement . A business management statement will give you a higher chance than your fellow applicants.

The tone, structure, and grammar of your statement will be scrutinized. When you write, explain what sparked your interest in studying at that particular University. Avoid the usage of complex language, and be brief and concise.

How to Write the Business Management Personal Statement

There is no one formula for writing an excellent business management personal statement. However, here are some tips to guide you in writing a compelling and persuasive document. 

1. Start with an outline.

Begin by brainstorming what you want to say, and then organize your thoughts into a logical sequence. After establishing a goal, create an outline with essential points, and organize them in order of importance. Keep it brief, but include enough information to convey your experience and competencies. 

2. Start with a strong introduction

Start your personal statement with an introduction that captures the reader’s attention and makes them want to know more about you. Include information about why you are interested in studying business management. Also highlight the skills or experiences that make you considerable for a course in business management. 

3. Make your statement specific and relevant

When you write a business management personal statement, it is essential to remember that you need to be specific and relevant. You should highlight any skills or experiences related to business administration or management. Explain why you want to study the course and what experience makes you a suitable candidate.

4. Tailor your statement to the specific program you’re applying for.

Ensure that your writing is concise and error-free. Discuss any relevant work experience, highlighting specific skills and responsibilities you took on in those roles. Finally, express gratitude for an opportunity to share your story and reiterate your commitment to a successful career in business management.

Personal Statement Example for Business Management

• My name is Jason, and I am interested in pursuing a degree in business management. I am experienced with teamwork, and I am confident that my skills will be beneficial in this field. In addition to my work experience, I have taken business administration and accounting classes. This has given me a strong foundation for continued learning in this area. Finally, my personality traits, such as being organized and detail-oriented, would make me successful in any role within the business world.
• Through internships and various work experience placements, I have gained insight into the business world and its operations. Furthermore, I have worked on team projects both during my studies and outside of academia. And have developed excellent collaborative skills, which would benefit me if I get into this program. As someone who strives for excellence academically and professionally, with hard work and dedication, success will be inevitable within this field.
• There are several reasons why I am interested in pursuing a business management degree. Firstly, business is the foundation of our economy, and understanding how businesses work is essential to participating in the marketplace effectively. In addition, I enjoy working with people and leading teams, which are vital components of successful businesses. Finally, I appreciate the challenge and opportunities of running a business enterprise.
• Through my experiences as an employee and entrepreneur, I have learned that success requires hard work, creativity, and perseverance. These lessons will be invaluable as I continue my undergraduate and beyond education. Ultimately, I want to become a corporate executive or small-business owner who contributes positively to our local community and economy.

A good business management personal statement is straight to the point and concise, but a poorly written statement is usually unclear. If you want your application to stand out amongst many others, you’ll have to write an excellent personal statement.

The personal statement example for business management above will guide you into writing something good.

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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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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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.

Learn how BridgeU can help deliver better outcomes for your students and improved results for your school

• How to start a personal statement: The attention grabber

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The best statements tend to be genuine and specific from the very start. You'll be on the right track if you show your enthusiasm for the subject or course, your understanding of it, and what you want to achieve.

Admissions tutors – the people who read and score your personal statement – say don’t get stressed about trying to think of a ‘killer opening’. Discover the advice below and take your time to think about how best to introduce yourself.

Liz Bryan: HE Coordinator and Careers Advisor, Queen Elizabeth Sixth Form College

Preparing to write your personal statement.

Start by making some notes . The personal statement allows admissions tutors to form a picture of who you are. So, for the opener, think about writing down things, such as:

• why you’re a good candidate
• your motivations
• what brings you to this course

If you’re applying for multiple courses , think about how your skills, academic interests, and the way you think are relevant to all the courses you've chosen.

Top tips on how to write your statement opener

We spoke to admissions tutors at unis and colleges – read on for their tips.

1. Don't begin with the overkill opening

Try not to overthink the opening sentence. You need to engage the reader with your relevant thoughts and ideas, but not go overboard .

Tutors said: ‘The opening is your chance to introduce yourself, to explain your motivation for studying the course and to demonstrate your understanding of it. The best personal statements get to the point quickly. Go straight in. What excites you about the course and why do you want to learn about it more?’

Be succinct and draw the reader in, but not with a gimmick. This isn't the X Factor. Admissions tutor

2. Write about why you want to study that course

Think about why you want to study the course and how you can demonstrate this in your written statement :

’Your interest in the course is the biggest thing. Start with a short sentence that captures the reason why you’re interested in studying the area you’re applying for and that communicates your enthusiasm for it. Don't waffle or say you want to study something just because it's interesting. Explain what you find interesting about it.’

It's much better to engage us with something interesting, relevant, specific and current in your opening line… Start with what's inspiring you now, not what inspired you when you were six. Admissions tutor

3. Avoid cliches

Try to avoid cliches and the most obvious opening sentences so you stand out from the very first line . UCAS publishes a list of common opening lines each year. Here are just some overused phrases to avoid using in your personal statement:

• From a young age…      
• For as long as I can remember…
• I am applying for this course because…
• I have always been interested in…
• Throughout my life I have always enjoyed…

And try not to use quotes . Quotations are top of the list of admissions tutors' pet hates.

4. Maybe don't begin at the start?

’Concentrate on the main content of your statement and write the introduction last. I think the opening line is the hardest one to write, so I often say leave it until the end and just try and get something down on paper.’

It may be easier to get on with writing the main content of your statement and coming back to the introduction afterwards –that way you will also know what you’re introducing.

I often advise applicants to start with paragraph two, where you get into why you want to study the course. That's what we're really interested in. Admissions tutor

The personal statement tool image

Don’t be tempted to copy or share your statement.

UCAS scans all personal statements through a similarity detection system to compare them with previous statements.

Any similarity greater than 30% will be flagged and we'll inform the universities and colleges to which you have applied. 

Find out more

Joseph bolton: year 2 history& politics student, university of liverpool.

• Do talk about you and your enthusiasm for the subject from the very start.
• Do be specific. Explain what you want to study and why in the first two sentences.
• Do come back to the opening sentences if you can’t think what to write straightaway.
• Don’t waste time trying to think of a catchy opening.
• Don't waffle – simply explain what you find interesting about the subject and show that you know what you are applying for.
• Don't rely on someone else's words. It's your statement after all – they want to know what you think.

One final thought

Think about making a link between your opening sentence and closing paragraph – a technique sometimes called the 'necklace approach’.

You can reinforce what you said at the start or add an extra dimension. For example, if you started with an interesting line about what’s currently motivating you to study your chosen degree course, you could link back to it at the end, perhaps with something about why you’d love to study this further at uni.

Need more advice?

• Struggling with the conclusion to your personal statement? Read our guide on how to finish your statement the right way .
• Read more dos and don’ts when writing your personal statement . 
• Discover what to include in your personal statement .
• Start your opening sentences with our personal statement builder now.

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Marketing and business management personal statement example 1.

Ever since an early stage in my life, I have always worked hard to overcome challenges. This in turn influenced my passion for business. Business can be a risky and competitive industry, but having considered my most desired skills and interests, I know that I am ready to step into the world of business.

My passion for business has reinforced my decision and motivation to study business at a degree level. I am a creative, alert and hard working individual who can work intuitively with a pragmatic approach to studying, and for this reason I believe I can succeed in this course. I am keen to develop my knowledge in marketing as this is an interesting area of work for me. I also like to carry out my own research, and find out new points about business that I haven't come across yet.

I understand that marketing demands a fair degree of scientific thinking. And that it is a complex profession, requiring a broad understanding of technology, an awareness of how to analyse and understand data, plus a good grounding in a variety of other scientific and mathematical principles which I personally believe I have and this would enable me to progress and establish a good understanding.

Some of the modules that I have covered include Finance, Human Resources, Strategic Management and Marketing. With excellent understanding in these subjects that I have covered and an enthusiasm for knowledge, I am confident in my ability to progress further in business as I am keen to further my own skills in education.

I undertook a school-led work experience scheme at a business firm called Bridge Park in Wembley. Being an office-based job, I was able to further my organisational and interpersonal skills as I learnt the importance of professionalism in the work area and the day-to-day pressures of deadlines. During my time at Bridge Park, I recognised how businesses work with one another to gain profit.

During my secondary school life, I captained my football team from year 7-11. This improved my leadership abilities as I learnt how to organise the team, and understood the importance of teamwork, encouraging the players and improving team morale and spirit.

Being a successful captain, I always believed in a democratic team who could interact with each other, giving individual input from each of the members, and my role was to bring their ideas together and make final decisions. Being captain made me gain the understanding of commitment to the team and helping the team to a winning form.

I have been on various trips, one of which was a school trip to Egypt. It was an amazing experience, where I interacted with people from a different background. I was able to acknowledge and understand the values and norms of other cultures. This was thoroughly rewarding and I now have a deeper appreciation of diversity.

I am a believer of pro-actively trying to make a difference to world poverty and even in the current climates of recession I strongly believe that the developed countries have a duty to developing countries today. I'm currently donating monthly to Oxfam and have previously undertaken some volunteer work for the charity organisation, which provides domestic aid to developing countries.

During this time, I was able to help raise money to give aid to the children in Somalia. I found this experience very rewarding as I know that however little my efforts may seen, they have surely provided at least one child a better life. These efforts only strengthened my determination to work hard and achieve to the highest of my ability.

Making full use of the facilities we have in London, I am a regular attendee at my local gym and am a fanatic of sport, from hockey to basketball, but favouring football.

Having read a lot of media reviews on health and fitness and assessed the new approaches to health over the last few years, I am much more aware of the need to be positive about my health and understand the physical importance of taking care of your body and its effect on the mind, than ever before.

I intend to study at university and achieve a high class degree that will greatly help me to pursue my career plans in Business.

Profile info

This personal statement was written by bad_boy_g for application in 2009.

bad_boy_g's Comments

I'm coming to end of my personal statement i just wanted some thought from other people what they think and what i could improve!

Related Personal Statements

Tue, 09/12/2008 - 16:33

im applying for a marketing/advertising degree for 09 entry...still working on a new PS, thought they dont have anything on Advertising and only 3 Marketing statements > not really a gr8 amount of help from any of those...so Ive been reading through some of the Business ones.

So far, urs has really stood out Great statement :) in terms of covering all areas from academic achievements, work exp. extra cirricualar activities etc. while still showing u have a life!/are a well rounded person & without being too big-headed/waffling on/boring or using fancy words which look out of place n dnt rel8.. G00dluck, where have u applied so far?...

Wed, 10/12/2008 - 11:10

I've applied to Kent, nottingham trent, reading, brighton and worcester.! i havent yet sent my statement off going to send it off by today or tomorow what abt u where u applied?

yeh im just finishing up on

Thu, 11/12/2008 - 17:52

yeh im just finishing up on myne and hoping to send it off by tommorrow. I've summed it down to just 2 main unis that i want to go to - Hertfordshire and Northampton, but will probz add another thats in/around the london area maybe..

Very good! Affirmative,

Thu, 11/12/2008 - 21:53

Very good! Affirmative, confident and assertive!

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Personal statement example business, management and marketing.

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Business, Management and Marketing

Business a pivotal part of society. Everyone is influenced by business’ in their daily lives, but most people are oblivious the vast amount of work that goes on behind them. I would like to learn about every aspect that goes into the creation of business. I want to know why a certain brand name makes consumers buy the same product for five times the price. My long term goal from this degree is to pursue a career in Brand Management or Public relations. The most compelling part of management for me, is the prospect of challenging myself and overcoming obstacles that will face a business. Throughout my life I have strived to challenge myself and go above and beyond what is expected on me. I feel this is crucial for success in this field.

Currently, I have put upon myself the challenge of A-level maths. Despite being told I was naturally more gifted at English, I wanted to push myself out of my comfort zone and chose to take maths instead. This was the right decision as it has given me a capacity for logical thought, and an ability to understand financial statistics and accounting. I have also very much enjoyed maths, finding it difficult makes my success’ more rewarding. As a manager I will feel the same way about overcoming problems. History A level has given me all-important skills of analysis and the ability to craft a balanced argument. In a business situation I will be able to translate these skills to get my points across clearly. My coursework has given me the capacity to research effectively, which I will be able to translate into market research. This year I plan to do the EPQ, I plan to write a 5000-word essay on a business-related question, ‘Why have supermarkets monopolised food shopping in the UK?’ By exploring this question, I hope to gain a deeper insight into marketing methods used by industry and how brands become recognisable and successful. My EPQ will require consumer research and analysis, which I can directly apply to the course.

I recently read ‘Play Bigger’, to gain a further insight into the course. The book explained business strategy in an informative and spirited way. Through case studies, it illustrated how business’ create and dominate a category. The authors left me wanting to learn more and have a chance to input some of their strategies as a Manager.

I am a member of my College’s debating society. I’ve had peers praise my ability to construct a well-reasoned argument, particularly after a debate discussing the impact of social media on modern society. The persuasive nature of debate will aid me in marketing. I have completed silver D of E, from which I developed my managerial skills. I found myself taking a leading role in planning the route. For 6 months, I volunteered at my local guides. The leaders set me the task of managing several activities for the group on my own. The girls respected my authority and all the activities were a success. I have been a waitress at a Cafe for 18 months. From observing different managers, I gained an insight into what makes a competent manager. Managers that encouraged teamwork, made the running of the business far more efficient. I manage my wages efficiently, so I can afford to pursue my hobbies of travelling and going to concerts. This paired with my mathematics A level will help me excel in the business economics and accounting modules of the course.

I am looking forward to the prospects of learning more about international business environments. My observations of business’ in Europe, seeing German LIDL’s extensive recycling scheme, has left me wanting to know more about the different methods used in business’ nationally. A placement year, although not essential, will be an invaluable experience. I intend to fully immerse myself into the opportunities and experience that a placement year offers. I am confident his degree will give me the tools to achieve and refine my career goals.

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How to Write a Personal Statement Destined to Standout

Crafting an exceptional personal statement requires a blend of introspection and strategic storytelling. Start by reflecting deeply on the experiences that have shaped your aspirations and character. Whether it's an academic achievement, a volunteer project, or a personal challenge, these anecdotes can serve as the backbone of your narrative. Ensure each story you share reveals something significant about your values and motivations.

When you write it, be specific and authentic—admissions officers can easily spot generic, cookie-cutter essays. By thoughtfully choosing words and providing vivid details, you can paint a compelling picture that captures your essence. Remember, the ultimate goal is to present a nuanced, multifaceted view of who you are, making your application not just another file in the pile but a memorable and intriguing read.

Four Key Attributes to Include in Your Personal Statement

Writing a captivating personal statement that will catch the eye of admissions committees at schools requires a strategic approach. Here are four key attributes to incorporate:

1. New Information:

Admissions officers have access to your transcripts, test scores, and other documents, so it's crucial to share something new in your personal statement. Highlight aspects of your life and experiences that are not evident in the rest of your application. This could be a unique hobby, an emotional turning point, or a meaningful relationship that has influenced your path. Providing this exclusive insight can help paint a fuller picture of who you are.

2. Memorability:

In a sea of applicants with stellar academic achievements, it's essential to stand out. Your personal statement should be memorable; it needs to leave a lasting impression on the admissions committee. Use illustrative examples and vivid storytelling to make your narrative come alive. A memorable personal statement lingers in the minds of readers, increasing your chances of standing out among the competition.

3. Engaging Content:

Capturing the reader's attention from the very beginning is fundamental. Start with a compelling hook—a powerful quote, an intriguing question, or a vivid description of a significant moment in your life. Maintaining engagement throughout your essay with well-paced, insightful content will hold the reader's interest and showcase your writing skills.

4. Uniqueness:

Your personal statement is your opportunity to showcase your individual story and voice. Avoid clichés and generic themes; instead, delve into your genuine experiences, perspectives, and aspirations. By emphasizing what makes you unique, you provide a distinctive narrative that sets you apart from other applicants. Let your authenticity and passion shine through in every sentence.

Discovering Your Most Compelling Story

Pinpointing the most compelling story to tell in your personal statement can feel daunting, especially when you worry about being boring or uninteresting. However, everyone has a unique narrative to share, and uncovering yours can be an enlightening and empowering process. Here's how you can discover your compelling story that incorporates the four key attributes—New Information, Memorability, Engaging Content, and Uniqueness:

1. Trigger Memories:

Start by revisiting your past to spark memories that showcase unique aspects of your life and personality. Look through old photos, scrapbooks, social media feeds, or diaries. These sources can remind you of forgotten experiences, hobbies, or milestones that reveal your passions and character.

2. Interview Friends and Family:

Sometimes, others can see what we overlook in ourselves. Talk to friends, family, and teachers who know you well. Ask them about moments they found memorable or traits they admire in you. These conversations can unearth stories and qualities you might not have considered worth mentioning.

3. Reflect on Challenges and Growth:

Think about times you faced challenges or had significant personal growth. These experiences, whether big or small, often provide deep insights into your resilience, adaptability, and values. Admissions officers will be interested in your personal journey and how it has shaped you.

4. Evaluate Everyday Activities:

Often, it's the everyday activities that can be the most revealing. Consider hobbies, volunteer work, or part-time jobs that have influenced your perspective or skills. Whether it's leading a project, mentoring a younger student, or even a personal hobby that you're passionate about, these activities can be compelling when presented with authenticity and reflection.

5. Be Genuine and Clear:

You don't need a sensational or spectacular achievement to write a successful personal statement. Genuine storytelling about what truly matters to you can be incredibly impactful. Focus on clearly communicating your thoughts and sharing something meaningful in your life. Authenticity resonates deeply; admissions officers can sense when a story is heartfelt and thoughtful.

By utilizing these suggestions, you'll discover that you have a wealth of interesting stories and insights to share. Trust in your experiences, reflect on what has genuinely shaped you, and present your narrative with confidence and authenticity. Your unique journey is, without a doubt, worth telling.

Writing Tips for Success

Writing a compelling personal statement requires specific attention to your writing style. By focusing on the following four key elements you are sure to ensure your essay is not only engaging but also effective:

1. Active Voice:

Writing in an active voice is crucial for keeping your content dynamic and engaging. Active voice constructs stronger, clearer sentences by making the subject of the sentence perform the action. For instance, instead of writing "The project was completed by me," say "I completed the project." This tweak makes your writing more direct and energetic, helping maintain the reader’s interest throughout your statement.

2. Simple Language:

Simplicity in language is a hallmark of effective communication. Avoid overly complex words and intricate sentence structures that may obscure your message. Clear and accessible language ensures that your reader can easily follow your narrative. The goal is to showcase your story and character, not to impress with vocabulary. Simplicity in expression reflects clarity in thought.

3. Direct Communication:

Being clear and concise in your writing eliminates confusion and ensures your key points stand out. Admissions officers read a vast number of essays, so getting straight to the point is essential. Avoid unnecessary fluff and filler words; every sentence should add value to your personal statement. Direct communication underscores your ability to convey important information efficiently, a critical skill both academically and professionally.

4. Specific Language:

Detailed and accurate information strengthens your narrative and provides credibility to your experiences. Specific language helps to vividly illustrate your points, making your story more relatable and memorable. Instead of saying "I had a challenging experience," describe the specific challenge you faced, how you addressed it, and what you learned from it. Specificity adds depth to your narrative and allows the reader to connect more intimately with your journey.

Structuring Your Personal Statement

Creating a well-organized personal statement is essential for making a lasting impression, especially for schools you are really hoping to get in to. Here’s how to structure your personal statement to ensure it’s coherent, impactful, and reflective of your unique narrative:

1. Introduction: Captivating Hook and Introduction to Your Main Theme

To make a powerful first impression, start with an engaging hook that captures the reader's attention immediately. This could be an intriguing anecdote, a surprising fact, or a reflective question. The introduction should also clearly present the main theme or central idea of your essay. This sets the stage for the detailed experiences and reflections that will follow, giving the reader an understanding of what to expect.

2. Body Paragraphs: Detailed Experiences and Reflections

In the body of your personal statement, dive into specific experiences that reflect the main theme you've introduced. Focus on structuring your body paragraphs around key experiences:

Experience One: Describe a significant event or achievement, detailing what happened, your role in it, and the outcome. Reflect on what you learned from this experience and how it has shaped your perspective or character.

Experience Two: Introduce another critical moment or series of related events that further illustrate your main theme. Provide vivid descriptions and personal reflections to connect the reader emotionally to your journey.

Experience Three: Continue with a third significant experience, making sure to link it back to the central theme. This could be a pivotal challenge you overcame, a leadership role you undertook, or a unique aspect of your background that informs who you are today.

3. Conclusion: Reinforcing Your Main Points and Ending on a Strong Note

In the conclusion, revisit the main points you've highlighted in your body paragraphs, reinforcing how these experiences collectively represent your attributes and readiness for the academic journey ahead. End with a strong, memorable statement that leaves a lasting impression. This could be a statement of purpose, a reflection on your future aspirations, or a summarizing thought that ties back to your introduction, providing a sense of closure and completeness to your narrative.

Finalizing Your Personal Statement

As you approach the final stages of crafting your personal statement, meticulous editing is crucial. Here are some key tips to ensure your essay is polished and impactful:

1. Importance of Proofreading:

Proofreading is an essential step in the editing process. Errors in grammar, spelling, or punctuation can detract from the professionalism of your statement and shift the focus away from your narrative. Carefully review your essay multiple times, each with a different focus, such as checking for typos on one read-through and evaluating sentence structure on another. Reading your essay out loud can also help catch errors you might miss when reading silently.

2. Seeking Feedback:

Seeking feedback from others is invaluable. Share your draft with trusted individuals, such as teachers, mentors, or family members, who can provide constructive criticism. They can offer fresh perspectives and highlight areas that might be confusing or underdeveloped. However, ensure that the final essay remains authentically yours; use feedback to refine your voice rather than altering it entirely.

Common Mistakes to Avoid

1. avoiding clichés:.

Clichés are overused expressions that can make your writing seem generic. Phrases like "from a young age," "I have always been passionate about," or "to make a long story short" should be avoided. Instead, aim for originality in your descriptions and reflections, presenting your unique viewpoint and experiences.

2. Reducing Redundancy:

Redundancy occurs when you repeat information or ideas unnecessarily, which can make your essay less concise and engaging. Ensure each sentence serves a specific purpose and contributes new information or insight. Eliminate repetitive statements to maintain the reader’s interest and keep your narrative moving forward.

3. Overcoming Vagueness:

Vagueness can weaken your message and leave readers with an unclear understanding of your experiences and qualities. Be specific in your descriptions and reflections. Use concrete examples and precise language to paint a vivid picture of your journey. Specificity helps create a memorable and relatable narrative that stands out to admissions officers.

By finalizing your draft with thorough proofreading, seeking meaningful feedback, and avoiding common writing mistakes, you'll ensure your personal statement is polished, engaging, and reflective of your true self, maximizing your chances of making a lasting impression on admissions committees.

Penny Redlin

Penny is the Content Marketing Manager for Edvisors.  She is tasked with optimizing website content and managing SEO performance.  A seasoned marketer with a diverse background in brand management, e-commerce and digital marketing, Penny brings an array of experience with her. An MBA from the University of Chicago, entrepreneur and author, Penny's experience offers a unique view to content creation and curating.

Find  Penny Redlin on LinkedIn .

If you would like to schedule an interview with Penny, please reach out to us at  [email protected]

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What Are Professional Development Goals? 10 Examples + How to Set Them

Professional development goals can help you achieve your short- and long-term objectives in your career.

Professional development goals are objectives you can set for yourself to help further your career. These might include taking steps to learn relevant skills, expand your professional network, or find more satisfaction at work.

Why set professional development goals?

Setting professional development goals can have many benefits. They can help you stay up-to-date on industry trends, increase engagement and job satisfaction, and align you with what you want out of your career and life.

Setting goals that are SMART—specific, measurable, achievable, relevant, and time-bound —can clarify what you need to achieve in the short-term to arrive at your long-term goals. Read more about setting SMART goals below.

10 examples of professional development goals

Here are ten examples of professional development goals to inspire your own:

1. Develop a new skill set.

Growing professionally often means expanding the arsenal of things you’re able to do. What skill you choose to develop can depend on your industry, job, and personal preferences. In-demand skills across the job sector in 2022 included cloud computing, data analysis skills like artificial intelligence and SQL, management, and UX design [ 1 ].

Don’t know where to start? Approach your manager and see if they have suggestions. You can also browse job descriptions of positions you’d be interested in pursuing; the common skills listed will help you get a sense of what’s in-demand in your field. Do some research to get a sense of what you want to learn and what will be useful to your work.

Develop skills by taking online or in-person courses, shadowing a coworker, or going back to school, among other ways. Think about what fits your schedule and the level of expertise you’re aiming for to see what works best for you.

2. Develop your workplace skills.

Workplace skills are the tools and practices that help people in a workplace connect and interact smoothly with one another. Sometimes referred to as human or soft skills, workplace skills can be crucial for advancing to higher-level positions. Workplace skills include verbal and nonverbal communication, empathy, self-awareness, and leadership.

Specific goals might include:

Complete an online course on communication, negotiation, or psychology

Join a social public speaking club, such as a local Toastmasters chapter

Read more: Hard Skills vs. Soft Skills: What’s the Difference?

3. Take up leadership responsibilities.

Actively seeking out leadership opportunities will allow you to develop leadership skills , and show others that you are striving to grow. Approach your manager to see how you might be able to put your leadership skills into practice. Have a few suggestions at the ready. Here are some examples to get your started:

Lead two team meetings this quarter

Plan and lead a team initiative to collectively learn a new tool or skill

Plan the next team offsite or activity

4. Expand your professional network.

Expanding your professional network can expose you to new ideas, build your profile, keep you informed of new job opportunities, and help you learn continuously. 

Sign up for events to attend in your field, join professional groups in person or through social media platforms like Facebook or LinkedIn, or find opportunities to volunteer your skills through volunteer databases like VolunteerMatch . 

Some concrete goals you can set include:

Attend five in-person or virtual professional events

Find and join three professional groups on LinkedIn

Read more: 9 Networking Tips to Expand and Strengthen Your Network

5. Level-up your credentials.

Beefing up your credentials can open up new career opportunities or clear a path to a promotion. Credentials can include certifications, professional certificates , and degrees. See what makes the most sense for both your short- and long-term career goals . Once you get your credential, don’t forget to inform your manager and list it in relevant places like your resume and LinkedIn profile .

Relevant goals might look like the following:

Earn a certification in your field in the next quarter or year

Complete a professional certificate

Find five degree programs to begin applying to

Read more: Upskilling: What It Means and How It Can Help Your Career

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6. Consume media in your field.

Learning more about your field through various media—like books, podcasts, and news publications, to name a few—can enrich your understanding of the context around your work and inform you of ways to improve. Plus, as passive ways of absorbing information, you’ll be able to learn as you, say, go on a walk or wait for the bus.

Ask coworkers or professionals in your network about recommendations. Otherwise, a quick online search should yield plenty of ideas, whether you’re looking for marketing podcasts , books on project management , or something else.

Here are some concrete goals you might aspire to:

Read two books in your field in a quarter

Listen to one podcast on a relevant topic a week

Find 10 experts in your field on Twitter to follow

7. Find other ways to deepen job satisfaction.

Being satisfied as a professional doesn’t necessarily mean striving for constant achievement and earning promotions. Job satisfaction is tied to many factors besides enjoying the work itself—including forming fulfilling relationships with coworkers, achieving work-life balance , and keeping your mental and physical health in check. Plus, there’s evidence that links job satisfaction to higher productivity and less turnover in workplaces—being a happy worker is likely going to benefit your company too [ 2 ].

Here are some goals you might set to improve your workday:

Schedule lunch or coffee chats with coworkers 

Join or start a workplace interest group

Create a plan to prepare healthy meals for lunch

Set reminders to take intermittent breaks throughout the day

Clarify boundaries on work expectations outside of working hours

8. Take a relevant course.

Courses can help you develop skills, learn about issues relevant to your work, and flex new parts of your brain. Courses can be directly related to your work responsibilities, but this might be an opportunity to challenge yourself to develop in new ways. Data analysis , project management , or UX design courses may give you the skills you need—but consider other fields like creative writing, public speaking, or foreign languages that can deepen your work in more unexpected ways.

Specific goals for coursework might look like the following:

Complete a course on XYZ topic in a quarter 

Map out a plan for coursework you’ll take throughout the year

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You can start enrolling in hundreds of free courses after you sign up for Coursera. Join our global community and start learning today .

9. Shadow another department.

Shadowing another department can have myriad positives: it can encourage communication and cooperation across siloed teams, inspire ways to improve your own team, and leave you with a better understanding of how your organization works. 

You can set goals such as:

Ask three people from different departments to lunch

Create a program in your workplace to encourage cross-team shadowing

10. Find a mentor.

A mentor can help you navigate challenges in the workplace and help you progress in your career. 

Finding a mentor might sound like a daunting task, but be assured that many have done it before. Some workplaces have mentoring programs in place that make it easy for people to connect with a more experienced professional. You might also find that your professional network will come in handy here. You can start by finding people who have had careers you find close to your aspirations in professional groups or alumni communities. Or if it makes sense, reach out to somebody in your workplace that you think you’ll be able to learn from.

Goals that will help you land a mentor include:

Create a pitch that you can use to contact potential mentors

Arrange a meeting with potential mentors to see if they’re a fit

Map out your short- or long-term goals (or both) of having a mentor

How to set professional development goals

1. know what you’re working towards..

Start by taking some time to consider what you want out of your career, now or in the future. Goal-setting is a useful exercise because it can clarify what you really want out of your career, and identify tangible steps to achieve it.

Don’t know what you want to do in five or 10 years yet? Start smaller, and identify your interests. If you’ve always admired your manager who can speak eloquently in front of others, consider a public speaking course. If you find yourself fascinated by your coworker’s ability to analyze data sets, try learning Python or another programming language.

2. Set SMART goals.

SMART goals are goals that are specific, measurable, achievable, relevant, and time-bound. Here’s what each of those components mean:

Specific: Goals should be well-defined and unambiguous so that you know exactly what you’re aspiring to.

Measurable: Goals should have a clear way of identifying whether you’ve achieved them, or if not, how close you came to them. For example, saying Finish three modules of my online course is more measurable than a goal like Work on my online course.

Achievable: Setting a goal that you can realistically achieve is key to actually achieving them. Plus, thinking in the back of your mind that a goal is impossible may be demotivating. Keep yourself motivated by setting reasonable goals.

Relevant: Your goals should be relevant to you—that is, they should align with your long-term aspirations and values. Think of this as the “why” of your goal.

Time-bound: Set a deadline for your goals so you can stay on track and motivated. 

Getting started on professional development goals

Professional development goals can help identify what you want your career to look like in the short and long term, and what steps you need to take to get where you want to be. Ready to get started? Learn from world-class institutions with over 7,000 courses, certificates, and degrees on Coursera .

Article sources

1. Coursera. " Global Skills Report , https://pages.coursera-for-business.org/rs/748-MIV-116/images/Coursera-Global-Skills-Report-2022.pdf." Accessed May 18, 2023.

2. Harvard Business Review. " Proof That Positive Work Cultures Are More Productive , https://hbr.org/2015/12/proof-that-positive-work-cultures-are-more-productive." Accessed May 18, 2023.

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This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

How To Start A Business In 11 Steps (2024 Guide)

Updated: Apr 7, 2024, 1:44pm

Table of Contents

Before you begin: get in the right mindset, 1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, what are the best states to start a business, bottom line, frequently asked questions (faqs).

Starting a business is one of the most exciting and rewarding experiences you can have. But where do you begin? There are several ways to approach creating a business, along with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering, launching and growing your business .

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The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s.

Consistency Is Key

New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.

Take the Next Step

Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.

Most business advice tells you to monetize what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your small town that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby stores.

If you don’t have a firm idea of what your business will entail, ask yourself the following questions:

• What do you love to do?
• What do you hate to do?
• Can you think of something that would make those things easier?
• What are you good at?
• What do others come to you for advice about?
• If you were given ten minutes to give a five-minute speech on any topic, what would it be?
• What’s something you’ve always wanted to do, but lacked resources for?

These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.

Your business idea also doesn’t have to be the next Scrub Daddy or Squatty Potty. Instead, you can take an existing product and improve upon it. You can also sell a digital product so there’s little overhead.

What Kind of Business Should You Start?

Before you choose the type of business to start, there are some key things to consider:

• What type of funding do you have?
• How much time do you have to invest in your business?
• Do you prefer to work from home or at an office or workshop?
• What interests and passions do you have?
• Can you sell information (such as a course), rather than a product?
• What skills or expertise do you have?
• How fast do you need to scale your business?
• What kind of support do you have to start your business?
• Are you partnering with someone else?
• Does the franchise model make more sense to you?

Consider Popular Business Ideas

Not sure what business to start? Consider one of these popular business ideas:

• Start a Franchise
• Start a Blog
• Start an Online Store
• Start a Dropshipping Business
• Start a Cleaning Business
• Start a Bookkeeping Business
• Start a Clothing Business
• Start a Landscaping Business
• Start a Consulting Business
• Start a Photography Business
• Start a Vending Machine Business

Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialize in homes with pets or focus on garage cleanups.

Primary Research

The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d buy.

Secondary Research

Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.

Conduct a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.

Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.

A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:

• Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
• Company description: The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
• Market analysis: This section of the business plan analyzes how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
• Organization and structure: Write about the type of business organization you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member limited liability company (LLC) or a corporation ?
• Mission and goals: This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
• Products or services: This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
• Background summary: This portion of the business plan is the most time-consuming to write. Compile and summarize any data, articles and research studies on trends that could positively and negatively affect your business or industry.
• Marketing plan: The marketing plan identifies the characteristics of your product or service, summarizes the SWOT analysis and analyzes competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
• Financial plan: The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.

Learn more: Download our free simple business plan template .

Come Up With an Exit Strategy

An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.

The most common exit strategies are:

• Selling the business to another party
• Passing the business down to family members
• Liquidating the business assets
• Closing the doors and walking away

Develop a Scalable Business Model

As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.

Some common scalable business models are:

• Subscription-based businesses
• Businesses that sell digital products
• Franchise businesses
• Network marketing businesses

Start Planning for Taxes

One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may be liable for, including income tax, self-employment tax, sales tax and property tax. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax or unemployment tax.

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When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.

An LLC limits your personal liability for business debts. LLCs can be owned by one or more people or companies and must include a registered agent . These owners are referred to as members.

• LLCs offer liability protection for the owners
• They’re one of the easiest business entities to set up
• You can have a single-member LLC
• You may be required to file additional paperwork with your state on a regular basis
• LLCs can’t issue stock
• You’ll need to pay annual filing fees to your state

Limited Liability Partnership (LLP)

An LLP is similar to an LLC but is typically used for licensed business professionals such as an attorney or accountant. These arrangements require a partnership agreement.

• Partners have limited liability for the debts and actions of the LLP
• LLPs are easy to form and don’t require much paperwork
• There’s no limit to the number of partners in an LLP
• Partners are required to actively take part in the business
• LLPs can’t issue stock
• All partners are personally liable for any malpractice claims against the business

Sole Proprietorship

If you start a solo business, you might consider a sole proprietorship . The company and the owner, for legal and tax purposes, are considered the same. The business owner assumes liability for the business. So, if the business fails, the owner is personally and financially responsible for all business debts.

• Sole proprietorships are easy to form
• There’s no need to file additional paperwork with your state
• You’re in complete control of the business
• You’re personally liable for all business debts
• It can be difficult to raise money for a sole proprietorship
• The business may have a limited lifespan

Corporation

A corporation limits your personal liability for business debts just as an LLC does. A corporation can be taxed as a C corporation (C-corp) or an S corporation (S-corp). S-corp status offers pass-through taxation to small corporations that meet certain IRS requirements. Larger companies and startups hoping to attract venture capital are usually taxed as C-corps.

• Corporations offer liability protection for the owners
• The life span of a corporation is not limited
• A corporation can have an unlimited number of shareholders
• Corporations are subject to double taxation
• They’re more expensive and complicated to set up than other business structures
• The shareholders may have limited liability

Before you decide on a business structure, discuss your situation with a small business accountant and possibly an attorney, as each business type has different tax treatments that could affect your bottom line.

Helpful Resources

• How To Set Up an LLC in 7 Steps
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There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:

Choose Your Business Name

Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company in your state, nor can it infringe on another trademark or service mark that is already registered with the United States Patent and Trademark Office (USPTO).

Business Name vs. DBA

There are business names, and then there are fictitious business names known as “Doing Business As” or DBA. You may need to file a DBA if you’re operating under a name that’s different from the legal name of your business. For example, “Mike’s Bike Shop” is doing business as “Mike’s Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s Bikes” is the DBA.

You may need to file a DBA with your state, county or city government offices. The benefits of a DBA include:

• It can help you open a business bank account under your business name
• A DBA can be used as a “trade name” to brand your products or services
• A DBA can be used to get a business license

Register Your Business and Obtain an EIN

You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.

Next, apply for an employer identification number (EIN) . All businesses, other than sole proprietorships with no employees, must have a federal employer identification number. Submit your application to the IRS and you’ll typically receive your number in minutes.

Get Appropriate Licenses and Permits

Legal requirements are determined by your industry and jurisdiction. Most businesses need a mixture of local, state and federal licenses to operate. Check with your local government office (and even an attorney) for licensing information tailored to your area.

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Open a Business Bank Account

Keep your business and personal finances separate. Here’s how to choose a business checking account —and why separate business accounts are essential. When you open a business bank account, you’ll need to provide your business name and your business tax identification number (EIN). This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account to issue a business loan or line of credit.

Hire a Bookkeeper or Get Accounting Software

If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.

Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.

There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as bank reconciliation and invoicing. Check out the best accounting software for small business, or see if you want to handle the bookkeeping yourself.

Determine Your Break-Even Point

Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.

Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.

When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.

In contrast, the contribution margin = total sales revenue – cost to make product

For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.

Let’s write these out so it’s easy to follow:

This means that you need to sell at least 456 units just to cover your costs. If you can sell more than 456 units in your first month, you will make a profit.

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There are many different ways to fund your business—some require considerable effort, while others are easier to obtain. Two categories of funding exist: internal and external.

Internal funding includes:

• Personal savings
• Credit cards
• Funds from friends and family

If you finance the business with your own funds or with credit cards, you have to pay the debt on the credit cards and you’ve lost a chunk of your wealth if the business fails. By allowing your family members or friends to invest in your business, you are risking hard feelings and strained relationships if the company goes under. Business owners who want to minimize these risks may consider external funding.

External funding includes:

• Small business loans
• Small business grants
• Angel investors
• Venture capital
• Crowdfunding

Small businesses may have to use a combination of several sources of capital. Consider how much money is needed, how long it will take before the company can repay it and how risk-tolerant you are. No matter which source you use, plan for profit. It’s far better to take home six figures than make seven figures and only keep $80,000 of it.

Funding ideas include:

• Invoice factoring: With invoice factoring , you can sell your unpaid invoices to a third party at a discount.
• Business lines of credit: Apply for a business line of credit , which is similar to a personal line of credit. The credit limit and interest rate will be based on your business’s revenue, credit score and financial history.
• Equipment financing: If you need to purchase expensive equipment for your business, you can finance it with a loan or lease.
• Small Business Administration (SBA) microloans: Microloans are up to $50,000 loans that can be used for working capital, inventory or supplies and machinery or equipment.
• Grants: The federal government offers grants for businesses that promote innovation, export growth or are located in historically disadvantaged areas. You can also find grants through local and regional organizations.
• Crowdfunding: With crowdfunding , you can raise money from a large group of people by soliciting donations or selling equity in your company.

Choose the right funding source for your business by considering the amount of money you need, the time frame for repayment and your tolerance for risk.

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You need to have insurance for your business , even if it’s a home-based business or you don’t have any employees. The type of insurance you need depends on your business model and what risks you face. You might need more than one type of policy, and you might need additional coverage as your business grows. In most states, workers’ compensation insurance is required by law if you have employees.

Work With an Agent To Get Insured

An insurance agent can help determine what coverages are appropriate for your business and find policies from insurers that offer the best rates. An independent insurance agent represents several different insurers, so they can shop around for the best rates and coverage options.

Basic Types of Business Insurance Coverage

• Liability insurance protects your business against third-party claims of bodily injury, property damage and personal injury such as defamation or false advertising.
• Property insurance covers the physical assets of your business, including your office space, equipment and inventory.
• Business interruption insurance pays for the loss of income if your business is forced to close temporarily due to a covered event such as a natural disaster.
• Product liability insurance protects against claims that your products caused bodily injury or property damage.
• Employee practices liability insurance covers claims from employees alleging discrimination, sexual harassment or other wrongful termination.
• Workers’ compensation insurance covers medical expenses and income replacement for employees who are injured on the job.
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Business tools can help make your life easier and make your business run more smoothly. The right tools can help you save time, automate tasks and make better decisions.

Consider the following tools in your arsenal:

• Accounting software : Track your business income and expenses, prepare financial statements and file taxes. Examples include QuickBooks and FreshBooks.
• Customer relationship management (CRM) software : This will help you manage your customer relationships, track sales and marketing data and automate tasks like customer service and follow-ups. Examples include Zoho CRM and monday.com.
• Project management software : Plan, execute and track projects. It can also be used to manage employee tasks and allocate resources. Examples include Airtable and ClickUp.
• Credit card processor : This will allow you to accept credit card payments from customers. Examples include Stripe and PayPal.
• Point of sale (POS) : A system that allows you to process customer payments. Some accounting software and CRM software have POS features built-in. Examples include Clover and Lightspeed.
• Virtual private network (VPN) : Provides a secure, private connection between your computer and the internet. This is important for businesses that handle sensitive data. Examples include NordVPN and ExpressVPN.
• Merchant services : When customers make a purchase, the money is deposited into your business account. You can also use merchant services to set up recurring billing or subscription payments. Examples include Square and Stripe.
• Email hosting : This allows you to create a professional email address with your own domain name. Examples include G Suite and Microsoft Office 365.

Many business owners spend so much money creating their products that there isn’t a marketing budget by the time they’ve launched. Alternatively, they’ve spent so much time developing the product that marketing is an afterthought.

Create a Website

Even if you’re a brick-and-mortar business, a web presence is essential. Creating a website doesn’t take long, either—you can have one done in as little as a weekend. You can make a standard informational website or an e-commerce site where you sell products online. If you sell products or services offline, include a page on your site where customers can find your locations and hours. Other pages to add include an “About Us” page, product or service pages, frequently asked questions (FAQs), a blog and contact information.

Optimize Your Site for SEO

After getting a website or e-commerce store, focus on optimizing it for search engines (SEO). This way, when a potential customer searches for specific keywords for your products, the search engine can point them to your site. SEO is a long-term strategy, so don’t expect a ton of traffic from search engines initially—even if you’re using all the right keywords.

Create Relevant Content

Provide quality digital content on your site that makes it easy for customers to find the correct answers to their questions. Content marketing ideas include videos, customer testimonials, blog posts and demos. Consider content marketing one of the most critical tasks on your daily to-do list. This is used in conjunction with posting on social media.

Get Listed in Online Directories

Customers use online directories like Yelp, Google My Business and Facebook to find local businesses. Some city halls and chambers of commerce have business directories too. Include your business in as many relevant directories as possible. You can also create listings for your business on specific directories that focus on your industry.

Develop a Social Media Strategy

Your potential customers are using social media every day—you need to be there too. Post content that’s interesting and relevant to your audience. Use social media to drive traffic back to your website where customers can learn more about what you do and buy your products or services.

You don’t necessarily need to be on every social media platform available. However, you should have a presence on Facebook and Instagram because they offer e-commerce features that allow you to sell directly from your social media accounts. Both of these platforms have free ad training to help you market your business.

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To scale your business, you need to grow your customer base and revenue. This can be done by expanding your marketing efforts, improving your product or service, collaborating with other creators or adding new products or services that complement what you already offer.

Think about ways you can automate or outsource certain tasks so you can focus on scaling the business. For example, if social media marketing is taking up too much of your time, consider using a platform such as Hootsuite to help you manage your accounts more efficiently. You can also consider outsourcing the time-consumer completely.

You can also use technology to automate certain business processes, including accounting, email marketing and lead generation. Doing this will give you more time to focus on other aspects of your business.

When scaling your business, it’s important to keep an eye on your finances and make sure you’re still profitable. If you’re not making enough money to cover your costs, you need to either reduce your expenses or find ways to increase your revenue.

Build a Team

As your business grows, you’ll need to delegate tasks and put together a team of people who can help you run the day-to-day operations. This might include hiring additional staff, contractors or freelancers.

Resources for building a team include:

• Hiring platforms: To find the right candidates, hiring platforms, such as Indeed and Glassdoor, can help you post job descriptions, screen résumés and conduct video interviews.
• Job boards: Job boards such as Craigslist and Indeed allow you to post open positions for free.
• Social media: You can also use social media platforms such as LinkedIn and Facebook to find potential employees.
• Freelance platforms: Using Upwork, Freelancer and Fiverr can help you find talented freelancers for one-time or short-term projects. You can also outsource certain tasks, such as customer service, social media marketing or bookkeeping.

You might also consider partnering with other businesses in your industry. For example, if you’re a wedding planner, you could partner with a florist, photographer, catering company or venue. This way, you can offer your customers a one-stop shop for all their wedding needs. Another example is an e-commerce store that partners with a fulfillment center. This type of partnership can help you save money on shipping and storage costs, and it can also help you get your products to your customers faster.

To find potential partnerships, search for businesses in your industry that complement what you do. For example, if you’re a web designer, you could partner with a digital marketing agency.

You can also search for businesses that serve the same target market as you but offer different products or services. For example, if you sell women’s clothing, you could partner with a jewelry store or a hair salon.

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To rank the best states to start a business in 2024, Forbes Advisor analyzed 18 key metrics across five categories to determine which states are the best and worst to start a business in. Our ranking takes into consideration factors that impact businesses and their ability to succeed, such as business costs, business climate, economy, workforce and financial accessibility in each state. Check out the full report .

Starting a small business takes time, effort and perseverance. But if you’re willing to put in the work, it can be a great way to achieve your dreams and goals. Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organized so you can continue to grow your business.

How do I start a small business with no money?

There are several funding sources for brand-new businesses and most require a business plan to secure it. These include the SBA , private grants, angel investors, crowdfunding and venture capital.

What is the best business structure?

The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish. But any successful business structure will be one that will help your company set realistic goals and follow through on set tasks.

Do I need a business credit card?

You don’t need one, but a business credit card can be helpful for new small businesses. It allows you to start building business credit, which can help you down the road when you need to take out a loan or line of credit. Additionally, business credit cards often come with rewards and perks that can save you money on business expenses.

Do I need a special license or permit to start a small business?

The answer to this question will depend on the type of business you want to start and where you’re located. Some businesses, such as restaurants, will require a special permit or license to operate. Others, such as home daycare providers, may need to register with the state.

How much does it cost to create a business?

The cost of starting a business will vary depending on the size and type of company you want to create. For example, a home-based business will be less expensive to start than a brick-and-mortar store. Additionally, the cost of starting a business will increase if you need to rent or buy commercial space, hire employees or purchase inventory. You could potentially get started for free by dropshipping or selling digital goods.

How do I get a loan for a new business?

The best way to get a loan for a new business is to approach banks or other financial institutions and provide them with a business plan and your financial history. You can also look into government-backed loans, such as those offered by the SBA. Startups may also be able to get loans from alternative lenders, including online platforms such as Kiva.

Do I need a business degree to start a business?

No, you don’t need a business degree to start a business. However, acquiring a degree in business or a related field can provide you with the understanding and ability to run an effective company. Additionally, you may want to consider taking some business courses if you don’t have a degree to learn more about starting and running a business. You can find these online and at your local Small Business Administration office.

What are some easy businesses to start?

One of the easiest businesses to start also has the lowest overhead: selling digital goods. This can include items such as e-books, online courses, audio files or software. If you have expertise in a particular area or niche, this is a great option for you. Dropshipping is also a great option because you don’t have to keep inventory. You could also buy wholesale products or create your own. Once you create your product, you can sell it through your own website or third-party platforms such as Amazon or Etsy.

What is the most profitable type of business?

There is no one answer to this question because the most profitable type of business will vary depending on a number of factors, such as your industry, location, target market and business model. However, some businesses tend to be more profitable than others, such as luxury goods, high-end services, business-to-business companies and subscription-based businesses. If you’re not sure what type of business to start, consider your strengths and interests, as well as the needs of your target market, to help you choose a profitable business idea.

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Katherine Haan is a small business owner with nearly two decades of experience helping other business owners increase their incomes.

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Free Business Plan Template for Small Businesses (2024)

Use this free business plan template to write your business plan quickly and efficiently.

A good business plan is essential to successfully starting your business —  and the easiest way to simplify the work of writing a business plan is to start with a business plan template.

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other  entrepreneurs and startups. 

Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today. 

What this free business plan template includes

• Executive summary
• Company overview
• Products or services offered
• Market analysis
• Marketing plan
• Logistics and operations plan
• Financial plan

This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.

Our free business plan template includes seven key elements typically found in the traditional business plan format:

1. Executive summary

This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. 

2. Company overview

This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.

3. Products or services offered

What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.

4. Market analysis

This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.

6. Logistics and operations plan

Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.

7. Financial plan

It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.

Business plan examples

What do financial projections look like on paper? How do you write an executive summary? What should your company description include?  Business plan examples  can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business . 

The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires. 

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

• Company description
• Key members of your team
• Customer segments

💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .

Benefits of writing a solid business plan

It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

• Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market. 
• Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
• Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
• Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
• Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
• Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.

Why you should you use a template for a business plan

A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.

No blank-page paralysis

A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.

Guidance on what to include in each section

If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.

Knowing you’ve considered every section

In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.

Understand the audience for your plan

If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.

Maximize your business planning efforts

Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.

To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.

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Business plan template FAQ

What is the purpose of a business plan.

The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.

How do I write a simple business plan?

• Choose a business plan format, such as a traditional or a one-page business plan. 
• Find a business plan template.
• Read through a business plan sample.
• Fill in the sections of your business plan.

What is the best business plan template?

If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.

What are the 5 essential parts of a business plan?

The five essential parts of a traditional business plan include:

• Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
• Business description: This section outlines the business concept and how it will be executed.
• Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
• Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
• Management and organization: This section describes the management team and the organizational structure of the business.

Are there any free business plan templates?

There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.

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Business and management degree personal statement example (1v)

I am very interested in studying a business management course with the addition of legal and financial studies. From a young age I have always had a keen interest in monetary matters and have also been intrigued by legal systems and how they work. I feel that combining one or both of these interests with business management will give me a sound footing to launch a career from in either legal or financial business sectors

I am confident within myself and find communication with others easy

I want to study at university to deepen my understanding of the knowledge and skills I already have

I am currently on a gap year scheme called 'Year in Industry' in which I have a years work placement with Centrax, an aerospace company based in Newton Abbot. This placement is giving me invaluable knowledge as to how industry really works, and has enabled me to learn how to work properly as part of a team and how to reach a common goal. I have been given a project to make the company paperless. This involves studying workflow and analyzing current systems of work. There is a good chance that I will gain sponsorship from my company for university

In my spare time I enjoy keeping fit. I go to the gym and play sports including tennis and football. I am keen on all aspects of modern technology and can program fluently in Delphi

Whilst at school I had percussion lessons and I reached grade 4 standard, I was also on the student council. However towards the end of school I suffered a serious illness which forced me to miss a large amount of my final 2 years. Despite missing much of those final 2 years I still achieved more than enough GCSE A to C grades to get into the college course I desired. I have now made a full recovery

In the future I would like to see my self working in such area's as the stock exchange or a business focusing on legal issues, such as contracts as this would interest me a great deal.

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