I am 26 with 4 years of work experience. However I have spent my last 2 year starting an Internet startup, which is not venture capital funded and not successful at all. I have been thinking on ending the startup and work full time again. However, given my profile I think it's pretty hard to get the job I wanted, a job at a recongized consulting firm. So I think doing a MBA may help me get a fresh start on my career.

Yet I think it may be very hard for me to get into a Top MBA program given I only have 2 year working experience. I have spent half year working as an IBM sales trainee, and around 1.5 as a IBM strategy & change consultant. The most important thing is I have already lost contact with my previous bosses at IBM, it is quite awkward for me to ask them to write a reference letter. I think they liked me as they said they would offer me to return to IBM if my startup failed. (I don't want to return as a loser anyway!)

I guess I can achieve a GMAT score around 700-740. Actually I am even more interested in doing a PhD in business than doing a MBA, but given my research experience I know no PhD program will accept me so I probably will have to do a MBA/Master first anyway.

If you were me, will you suggest me to work for a few years, or apply to MBA right away?