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Intern
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Joined: 01 Mar 2014
Posts: 14
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Location: United States
Concentration: Entrepreneurship, International Business
GMAT 1: 620 Q37 V39
GMAT 2: 720 Q47 V42
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Joined: 04 Dec 2002
Posts: 37408
Own Kudos [?]: 73140 [1]
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Location: United States (WA)
GMAT 1: 750 Q49 V42
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Intern
Intern
Joined: 01 Mar 2014
Posts: 14
Own Kudos [?]: 6 [0]
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Location: United States
Concentration: Entrepreneurship, International Business
GMAT 1: 620 Q37 V39
GMAT 2: 720 Q47 V42
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MBA Admissions Consultant
Joined: 18 Apr 2013
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Re: Applying r3, need some advice [#permalink]
Hey there,

I agree with what BB has said so I'll jump in on your follow up question. That's an interesting position to be in. On one hand, leading the transition can be great. On the other, suspending your salary isn't. Coupled with what seems a shakier than average story, and you put yourself in a slightly tough position. The direct answer is does leading the transition help? Yes. How much? Well, that's harder to say.

Now - the other thing you haven't really mentioned is...then what? If you apply R1 next fall, the transition will take you through fall. If you get in at that point, you'll still have another year. What's the plan then?

Also, when you say you want a school that has entrepreneurial resources and VC access - why? What are you trying to acccomplish with your MBA?

You seem to have a lot of moving pieces and it's a little difficult to figure out exactly which is moving where. If you'd like to chat about the process, your profile, and what lies ahead, don't hesitate to reach out. We're happy to help!

Bhavik
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Intern
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Joined: 01 Mar 2014
Posts: 14
Own Kudos [?]: 6 [0]
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Location: United States
Concentration: Entrepreneurship, International Business
GMAT 1: 620 Q37 V39
GMAT 2: 720 Q47 V42
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Re: Applying r3, need some advice [#permalink]
Specific need would be a lot of the core cirriculum at most schools. Accounting, Human capital management, organizational structures and strategies. I have experience, and raw talent, but what I want out of an MBA is more polish and structure. The idea of going through the start up process under professorial supervision or advice, while developing my fundamental business knowledge seems like a useful way of spending the next few years. If I set out to start a new business now, I may make some of the mistakes or inefficient decisions that I have made (knowingly or not) in the past.
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Re: Applying r3, need some advice [#permalink]
Hi David,

I'm sorry it took me so long to get back to this thread - totally on me! I think what you've listed as your "why MBA" is both a) logical and b) probably a little too...structured. I agree that a strong foundation is great and core curriculum can be a great way to do that BUT...a lot of that can be learned outside of the classroom too. So I'd recommend a little more introspection and caution using this part of your reasoning. Figure out exactly what you're trying to say here.

The far more valuable components are the resources on the periphery. The mentorship, networking, and guidance will be invaluable. Also, just having a couple of years to focus on your venture will be a mini-accelerator in and of itself. However, keep in mind, you're still going to make mistakes. They might not be the same mistakes as you would have made on your own, but they'll be just as frequent and just as significant. It's important you're honest with yourself and the adcom about that. Think about it this way - if getting an MBA meant you didn't make start up mistakes, well, then you'd have the top programs just churning out new companies, right?

Let me know your thoughts!

Bhavik
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Intern
Intern
Joined: 01 Mar 2014
Posts: 14
Own Kudos [?]: 6 [0]
Given Kudos: 0
Location: United States
Concentration: Entrepreneurship, International Business
GMAT 1: 620 Q37 V39
GMAT 2: 720 Q47 V42
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Re: Applying r3, need some advice [#permalink]
All very good points.

So far in my essays, I have hit on everything you have said. Core curriculum/foundation, networking, mentors, inspiration from cohorts etc. All of which is true. I also mention that if I had to apply in the fall, in the interim I would start another business, but would rather get the MBA first to eliminate the foundation-type mistakes. Of course mistakes will happen, but eliminating the basic ones is still important.

So far I got invited to interview at Ross and Kenan-Flagler. Though UNC is open interview, so that isn't too indicative! VERY happy about Ross though.
MBA Admissions Consultant
Joined: 18 Apr 2013
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Re: Applying r3, need some advice [#permalink]
That's fantastic and congrats on the Ross interview!! Let us know how the Ross interview goes and, if you need help with the prep, let us know. Communicating your reasoning will be pretty important and we're happy to help you with that!

Bhavik
GMAT Club Bot
Re: Applying r3, need some advice [#permalink]

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