How to Apply Your Business Degree to a Career in Hospitality

Business school training is one of the greatest launch pads for entrepreneurship in the hospitality industry, as well as a number of other marketplace sectors. Hospitality offers a unique entrepreneurial endeavor though that simply can’t be matched in excitement and fast paced growth. It’s no wonder then why so many MBA holders choose to leverage their business school education into opening and running a high quality hospitality sector brand.

MBA education provides a different approach to business administration.

MBA graduates are often some of the leanest managers in the game. The education granted through an MBA program offers students the ability to learn the lessons of the business world within the safe space of a business school classroom.

This allows MBA holders to go forth into the world with excellent instincts and a plan for success already in place. Whether you’re MBA years are spent learning how to manage a restaurant or something in the manufacturing space, MBA educational attainment is something that will stand to you as you progress into a fulfilling and successful career in your chosen field of expertise.

Many MBA students are opting to gain their Masters of Business Administration online rather than in a traditional classroom environment. In the age of Covid-19, this switch to online MBA learning is a welcome change that is helping more and more entrepreneurs get their start and take in the core courses that are essential to obtaining an MBA degree.

Entrepreneurship can be leveraged to foster additional solution matrices.

Finding solutions to problems is something that MBAs are adept at. The MBA program coursework helps graduates to diagnose and correct all manner of problems before they become severe, affecting the entirety of your business processes. From diagnosing internet connectivity problems and implementing CPE solutions that boost sales terminal uptime and efficiency to kitchen equipment issues that are holding back your kitchen staff, entrepreneurial experience is a catch-all panacea for business-related troubles.

CPE networking devices are a core component of the business practices within the hospitality sector, and indeed across small businesses of all types. These are functionally any type of device that assists in connecting your hardware to the internet. CPE, or customer-premises equipment, provides a dedicated line to telecommunications signals through these hard wired, on-site pieces. These are crucial for maintaining online ordering systems, mobile apps, and POS devices that will run your day to day operations.

Similarly, MBA graduates are often on the prowl for quality of life upgrades that will make the customer’s life easier when they set foot in the restaurant or business. In the hospitality sector, many owners opt for increased focus on the kitchen equipment such as sandwich prep tables, cooking ranges, and high quality cleaning equipment. These upgrades help kitchen staff get the food out faster so that customers are able to better enjoy their meals.

MBA education offers itself up to great fiscal responsibility.

Finally, there may be no benefit greater than that in the financial realm that is given over to entrepreneurs who have completed their MBA training. MBA programs often harp on about the importance of rock solid financials, and restaurant owners or other small business leaders with an MBA background take this to heart. While it’s a myth that 90% of restaurants fail in the first year, any business that you might have your heart set on opening won’t succeed over the long term (restaurants included) if you don’t make a strong commitment to the fundamentals from the very first day in operation.

Keeping your brand on course for long term success is crucial to making it in the hospitality industry. Without the help of business analytics and project management experience (that are offered up as core courses within the realm of online MBA programs), it can be difficult to understand where your long trending financials are heading. Heading toward success means you will have to commit to making adjustments throughout your tenure as a business leader and always keeping a careful eye on the balance between marketing and sales.

Master of Business Administration graduates are perfectly poised for success in the hospitality sector because they have been trained to spot problems before they begin to rock the boat. As well, MBA program graduates know the power of marketing and making the customer feel happy and heard. Taking on board the things that customers say and how they feel about your business can act as a uniquely powerful meter stick for measuring the direction of your business and brand.

Listening to customers, even when they are saying things you don’t like, is a hallmark of those who’ve completed business school. Don’t shy away from the things that will help you to become a success. Leverage your training and experience to make the most of any business venture you enter into.