Are you interested in starting a business after completing your MBA program? Then below are 20 small business ideas for MBA graduates in 2020.
Most people who attend MBA schools go there with the hope of landing a high-paying job possibly with a fortune 500 company upon graduation. That’s a very good ambition but let’s face it, how many MBA graduates actually land these jobs as hoped?
The economy has really made a mess of things and it is now difficult for people to decide on a career path and actually get what they want. It’s not uncommon these days to see an MBA graduate who is still jobless after spending thousands to earn a degree.
As an MBA graduate, one of the skills you must have learnt is how to be a proactive and analytical thinker. If your dream job isn’t looking like it’s going to fall into your laps soon, why not create it? You could start your own business and before you know it, you will become an employer of labor yourself.
With all the knowledge and skills you must have acquired, I doubt you will have a problem with starting and growing your own business. Having an MBA is not a prerequisite for starting a business but because of the educational background of an MBA graduate, it would be easier to manage a successful business. Without wasting your time, below are 20 small business ideas for MBA graduates.
20 Small Business ideas & Opportunities for MBA Graduates in 2020
1. E-commerce-: This is the general name used to refer to buying and selling buying and selling items on the internet. Every Johnny or Thomas out there can run an online buying and selling business but an MBA graduate has the required business acumen and skills to survive in this increasingly competitive field.
2. SEO specialist-: SEO means search engine optimization and an SEO specialist is saddled with the responsibility of helping website owners increase their page rankings, so that when related keywords are searched by internet users, their websites can appear high up in the list. This is a business which requires a high level of commitment, tenacity and intelligence; qualities which an MBA graduate would most likely possess.
3. Green consultant-: With the whole world going green, there is space for MBA graduates to offer their services as green consultants and show business owners how to incorporate the green revolution into their businesses.
4. Financial Advisor-: Financial advisory business involves a lot of things. An I.T professional who decides to set up his own cloud computing business may be well versed with happenings in the information technology industry but may be a complete novice when it comes to issues like investment, taxes, insurance and interest rates. Such people usually require the services of financial advisors to help them out with the financial aspects of their business.
5. Life Coach-: MBA graduates are not only intelligent but knowledgeable on a variety of subjects and would be able to perform well as a life coach.
6. Tutoring-: The education industry is one that continues to grow and defy any form of recession or economic downturn. This is because the quest for learning continues to increase, even when there is a recession, people still want to advance their knowledge and learn new ways to rise above the recession.
7. Market researcher-: Every company out there requires some form of market research from time to time. They need to know what their consumers need and how to satisfy these needs, they need to know the latest trends in the market, and they need to know what their competitors are up to and how to stay ahead of the competition.
8. Recruitment consultant-: The process of finding the most suitable candidates to fill up a vacant position can be very tedious. The conducting of tests, interviews, negotiation and eventually training, could take a lot of time; company time that would have been spent on revenue-generating activities. This is why most companies outsource their recruitment services to recruitment consultants.
9. Event planner-: A successful event planner needs to have great time management skills, organizational skills and of course, strategic and analytical skills. As an MBA graduate who loves planning, you could put these skills to use in the corporate world by organizing annual general meetings, product launches, business exhibitions and several other related businesses.
10. Management consultant-: A management consultant is like the manager’s manager. As no human is an island of knowledge and ideas, the management of most organizations employ other people to give them advice, support and information that would improve their performance as well as that of their business.
11. Debt Management and Recovery-: Debt recovery and management is a two-way kind of business. There are so many people out there who are unfortunately suffering from bad credit reports, you could start a business to help such people negotiate with their creditors and get more favorable interest rates and payment patterns. On another note, you could help businesses recover debts from their debtors and earn commission from offering such services.
12. E-mail Marketing-: E-mail marketing is a growing form of advertisement. It involves sending persuasive e-mails in form of newsletters to potential or existing clients in other to persuade them to purchase certain goods or services. This letters require a whole lot of skills to write because they can either piss off your customers or encourage them to patronize you. This is why most business owners prefer to hire experts to help them draft kick-ass marketing copies.
13. Public Relations Consultant-: Public relations consultants are responsible for writing press releases, attending to enquiries about the business from the public and generally painting the business in a good light in the eyes of the public.
14. Business financing expert-: A lot of people have smart business ideas but they do not have the required capital to follow their ideas through. You can help direct their path through the complex world of small business financing.
15. Business plan and proposal writer-: When seeking for business loans or investment for your business, the first thing a potential investor would ask for is your business plan. You can bridge the gap by offering business plan writing services to startup entrepreneurs.
16. Book Author-: You could transfer the knowledge you acquired to others by writing books that would help business owners with business growth and increase in performance.
17. Crowdfunding consultant-: This is another business which focuses on helping people secure funding for their business ideas.
18. Business School-: There are lots of people out there who need to learn methods and ideas of improving their businesses. You can share your ideas and knowledge with them through a learning platform or center.
19. Business brokerage-: Companies and organizations are always in need of some goods and services, as a business broker, your job would be to link both parties’ together-buyer and seller and earn commission for it.
20. Corporate training-: Organizations always have the need to train their staff and equip them with the right skills and knowledge to be able to handle new challenges on the job. You can take on such tasks if you are up for it.