Oprah Winfrey. Meg Whitman. Indra Nooyi. Carly Fiorina. It's no longer difficult to name influential women at the pinnacle of the business world.
Learn to Earn
What's the secret to their success? Few women were born with a silver nameplate on their office door. They reached their positions by taking advantage of every opportunity to learn and prove themselves--both in school and on the job.
Marnie Walker, Founder of Student Express, explains: "If you want to be an entrepreneur and run you own business, learn as much about business as you can, practice in the business world, and then when you find an opportunity, start your business." MTV CEO Judy McGrath offers the same advice for succeeding in the corporate sphere, counseling women to "take on things that are outside your responsibility and learn" from them.
Profiles of Success
Education is a common thread in success story after success story. Here are some profiles of women just like you who parlayed educational resources and business experience into a dream career.
Erika Mangrum, Iatria Day Spas and Health Centers
Erika Mangrum struck on her idea of an upscale chain of health-centered day spas while getting a massage. She floated the idea to friends and family, who all responded with enthusiasm. But before taking the leap, Mangrum decided to develop her business skills with an MBA degree. Iatria Day Spas became the focus of her master's thesis--she researched the market and potential competitors, studied the legal and medical issues of operating a health center, and evaluated different pricing structures. By the time she graduated, she had not only the credentials and business perspective to succeed, but also a detailed, well-researched business plan vetted by professionals and business school peers. The success of her enterprise was all but sealed before she began.
Marnie Walker, Student Express
Toronto entrepreneur Marnie Walker defied an unsupportive family and life-threatening illness to become one of the first ten women to receive an MBA at York University. The business skills she sharpened in the course of her education laid the foundation for her professional success. She identified a niche in the transportation industry--transporting students with special needs to regional schools--and built a multimillion-dollar school bus company servicing this population. Walker felt a personal commitment to the disabled community, having struggled with the same challenges during her illness. But like Mangrum, she didn't proceed until she had confirmed the profitability and growth potential of the project. In this way she was able to translate her passion into a profit.
Rhona Silver, Huntington Townhouse Catering
Rhona Silver's business education began in the family business, continued with law and business degrees at Hofstra Law School and Lehman College, and culminated in Huntington Townhouse, the largest catering facility in the United States. Silver's unique vision and aggressive expansion helped propel Huntington to international renown almost instantly. Besides accommodating large events, the company distinguished itself through its flawless presentation. A comprehensive event planning service, Huntington Townhouse was a hit.
MBAs All Around
Each of these women entrepreneurs built their success on vision and a solid business education. The same formula applies to women corporate executives. "MBA programs get you thinking like a CEO," explains Jennifer Daniels, founder of the marketing and design agency Visient Partners. "You may be an acknowledged expert in your field, but when you step out on your own, you need to understand how to run a business. An MBA provides an introduction, so you can at least ask the correct questions." The degree is no substitute for experience, but it serves as a crucial compass for navigating the uncharted territory of business.
The MBA degree is especially crucial in the management sector--not only for developing business skills but also for establishing solid credentials. The Financial Times reports that women increasingly "view the MBA as a critical stepping stone in an executive career." Kasi Westendorf, a marketing manager at Reynolds & Reynolds Co., observes that most women in upper management have their MBAs. "At a certain level, an MBA becomes almost an expectation," Westendorf says. "If you truly want to climb the corporate ladder, then it's a must." A recruiter for a London bank confirms, "The holy grail is a woman with an MBA."
If your holy grail is a high profile business career, make education your first priority. The MBA is the first stop for many women entrepreneurs and most woman execs. But business education doesn't stop there. Your peers, your mentors, your coworkers, business partners, and your employees will mold you into the successful businesswoman you will become. Get started by researching business degrees. >>>