How to Become a Business Executive: 8 Tips for Leaders | Ohio University

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Executive leadership may seem glamorous, but it’s also challenging. Even the most experienced executives must commit to a lifetime of learning. New situations continuously demand that they put their skills — and assumptions — to the test. No matter how successful a leader has been in the past, each new problem is unique.

Luckily, strategic leadership skills are not confined to a chosen few. Anyone, at any stage in their career, can improve their leadership fundamentals: communication skills, management ability, and strategic vision. Cultivating leadership as a Master of Business Administration (MBA) student or young professional can give individuals immense advantages later in their career.

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Steps to Become a Business Executive

The path to becoming a business executive may seem long, especially if you’re still in school or in an entry-level position. There’s no single way into the executive suite — but these steps can help clarify your route.

Step 1: The Right Education

An MBA isn’t necessarily required to become a business executive, and people have become CEOs and company presidents without one. However, in the competitive field of business, candidates need every advantage they can get. A degree — particularly an MBA — is one of the biggest advantages a person can give themselves.

MBA programs impart essential knowledge and help students develop the business insight of a future executive. Employers know this, which is why they are keen on MBA graduates when considering candidates. They can be sure that MBA graduates have taken accounting for executives, managerial finance, and other related courses that the job requires.

An MBA also offers a salary advantage. According to PayScale, MBA graduates had a median annual salary of approximately $91,000 as of October 2021. By comparison, those with a bachelor’s in business administration had a median salary of around $69,000. From a return-on-investment perspective, the additional time and effort required to earn an MBA makes good financial sense.

Step 2: A Foot in the Door

Generally speaking, MBA graduates have an easier time finding their first job in business than their bachelor’s-only counterparts. The challenge for MBAs is finding the right role with the right company that will help them reach their ultimate goals.

When searching for that first position out of college, be sure to take advantage of your available resources. Most universities have job placement assistance for their graduates. Additionally, MBA graduates should reach out to contacts they’ve made during internships or at conferences. If you’re looking to beef up your resume, doing pro bono work and lining up a few well-written letters of recommendation can help capture employers’ attention.

Step 3: Gain Experience and Climb the Corporate Ladder

Education is the foundation that careers are built upon; however, anyone interested in how to become a business executive should know the experience that propels individuals to the top of the corporate ladder. Nobody becomes a CEO or other C-suite executive overnight. They need to continually learn and gain broad on-the-job experience until they’re sufficiently prepared for promotion. The following tips can help facilitate that process.

Tips for Future Business Leaders

No matter what point in your career or what industry you’re in, these best practices can help you rise through the ranks.

1. Communicate Clearly

Communication is the bedrock of effective leadership, and it should be no surprise that it is the number one soft skill companies look for at all levels. Develop your ability to make a clear, compelling, yet succinct point — both in person and in writing. Remember: Communication is a two-way process that includes listening. Actively listening to others not only helps your team succeed, but also wins you their respect.

2. Seek Mentors

Experience is a great teacher, but there’s simply not enough time to encounter all those successes and mistakes on your own. Develop a network of others who have walked the path before you. Ask them what they wish they had known when they were coming out of college and entering the business world. Many rising business leaders have a circle of experts they can leverage. Most have one, in particular, they can always turn to first when the going gets tough.

3. Sharpen Emotional Intelligence

Any successful business is built on relationships. To serve your customers and clients, you must understand their perspectives. To get the most from teams, you must understand what motivates them. Many good leaders are keen observers of the human condition. They also recognize their own emotions and avoid making reckless, ill-considered choices.

4. Always Look for Lessons Learned

Both successes and failures have root causes. When things go right, it’s easy to assume your own natural talent is the reason — but dig deeper. Widen your investigation to all the inputs that led to the success or failure, and then develop your thoughts to determine what really happened. This is the key to avoiding future mistakes and delivering repeatable successful results.

5. Lead by Example

Though it has been said many times, it remains true: Leaders should only expect of their employees what they are willing to do themselves. Leaders who do not follow this philosophy can ask for more, but they will rarely get it — and may be resented for asking. If you want people to be on time, be on time yourself (or early). If you want people to take pride in their professional appearance, be sure you do the same. And when it comes to how you treat your employees, always follow the golden rule.

6. Make Time to Sharpen the Saw

Every day will present you with a thousand opportunities — and a thousand demands. Amid all the small things that “absolutely must get done,” it’s easy to lose sight of how important your own development is. Reading, attending conferences or seminars, and spending time with experienced executives are all vital. Often, you must work hard at making time for these things.

7. Focus on Opportunities, Not Problems

This goes hand in hand with the above recommendation. To-do lists are full of problems that must be addressed, but if you focus on them exclusively, you’ll rarely improve the level of your business. Instead of struggling to conserve the value you’ve already developed, spend at least as much time looking for ways to add new value. When opportunities arise, strive to take the utmost advantage of them.

8. Think in Terms of We, Not I

As you advance in leadership, you will increasingly be called upon to make decisions that are right for the enterprise, not only for yourself. With experience comes the responsibility to recognize the impact of your choices. Honor others’ contributions, look deeply into the implications of each decision, and use shared values to make connections with peers, employees, and clients.

For aspiring professionals researching how to become a business executive, it’s important to recognize that business acumen is just one part of the equation. The fast-paced, interconnected world of today demands leaders who can develop clear visions for the future, translate them into action plans, and communicate them to different stakeholders. Knowledge of oneself and one’s enterprise now stands shoulder to shoulder with market knowledge. By cultivating and applying ethics, values, and purpose, an individual can develop into a well-rounded, effective leader.

Take Your First Step Toward Executive Leadership with an MBA

At Ohio University, we understand how important a Master of Business Administration can be to advancing your career. We also know that your MBA should be affordable, engaging, and academically-rigorous. That’s why we have designed an online MBA that is comprehensive and challenging, yet flexible to fit your lifestyle. A GMAT score is not required for admission, and you can study 100% online, which makes this program convenient for those who work or have family obligations.

When you earn your MBA online from Ohio University you are making a conscious decision to improve your professional value and position yourself for current and future business opportunities. The path to becoming an executive starts with education. Take your first step toward your career goals today with Ohio University.