Find all School-related info fast with the new School-Specific MBA Forum

It is currently 25 Oct 2014, 21:14

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

New Startups with BSchool Candidates, Does it happen

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Senior Manager
Senior Manager
avatar
Joined: 12 Apr 2010
Posts: 447
GMAT 1: Q V
Followers: 11

Kudos [?]: 80 [0], given: 157

New Startups with BSchool Candidates, Does it happen [#permalink] New post 01 May 2010, 08:42
I was wondering do any of the BSchool candiates team up, brainstorm and setup their own Enterprise even a startup, Does it happen at all or does everyone just look to get recruited by an IB and fill excel sheets in GS which is great but i was wondering.

Because many BSchool applicants have diverse backgrounds and experiences which are often very valuable in the market, if that knowledge could be used to set up a partnership then it might be really fetching, but again it takes time for the concept to sell and you need clients( but if you have a really good network then that shouldnt be much of a problem ) so i think that will scare off many from doing that, expecially after spending so much on the admissions.

Its better to start up a Jedi Academy if you ask me. Future Academy lol.
_________________

If you found the reply to be helpful, give kudos.

2 KUDOS received
Director
Director
User avatar
Status: Badgerine!
Joined: 04 Oct 2008
Posts: 894
Location: United States (CA)
Concentration: Entrepreneurship, Strategy
Schools: Michigan (Ross) - Class of 2013
GMAT 1: 770 Q50 V44
GPA: 3.3
WE: Project Management (Aerospace and Defense)
Followers: 61

Kudos [?]: 264 [2] , given: 86

Reviews Badge
Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 01 May 2010, 13:42
2
This post received
KUDOS
It happens at most of the top schools every year. Of course, some schools attract more entrepreneurs than others, but almost all of the top 15 schools provide some level of support for new start-ups.

Here's some sample data from employment reports for a few of the top schools for entrepreneurship. I don't have numbers for all of the top 15 schools - sorry.

*Percentage of students not seeking employment because they've started a new business*
Stanford - 12%
MIT - 5%
UCLA - 4.3%
Booth - 3.3%
_________________

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Senior Manager
Senior Manager
avatar
Joined: 12 Apr 2010
Posts: 447
GMAT 1: Q V
Followers: 11

Kudos [?]: 80 [0], given: 157

Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 01 May 2010, 23:40
Thanks for the reply, i was under the false impression that people seeking Entrepreneurship usually go back and mamange their already established family business.

You got kudos.
_________________

If you found the reply to be helpful, give kudos.

4 KUDOS received
GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 10 Apr 2007
Posts: 4320
Location: Back in Chicago, IL
Schools: Kellogg Alum: Class of 2010
Followers: 78

Kudos [?]: 702 [4] , given: 5

Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 02 May 2010, 20:19
4
This post received
KUDOS
Advice I got from a lot of alums is you are better off spending a few years working post grad...many business ventures fail and few are profitable immediately so not many grads can pull it off and those who get a lot of outside funding give up much more of their companies than they otherwise would. There are a lot of benefits to waiting several years: build up your resume w/ post mba work, continue to develop your network, save up a nest egg to get you by, pay off some school loans...an interesting one I wouldnt really have thought about that thinking about it is very good, you will find more friends/classmates willing to help in a few years (very few folks have the resources to not take a decent job when graduating) and your friends who might be potential investors whether angle or working for VC companies will be further along and in a much better position to help you.

I know a few people who want to launch businesses, and a few people who will do that as a backup plan if they dont find a job at graduation. Some friends are working on part-time ventures together, if they make headway they can then quit their job and make a go of it.
_________________

Kellogg Class of 2010...still active and willing to help. However, I do not do profile reviews, don't offer predictions on chances and am far to busy to review essays, so save the energy of writing me a PM seeking help for these. If I don't respond to a PM that is not one of the previously mentioned trash can destined messages, please don't take it personally I get so many messages I have a hard to responding to most. The more interesting, compelling, or humorous you message the more likely I am to respond.
Get the best GMAT Prep Resources with GMAT Club Premium Membership

Director
Director
User avatar
Status: Badgerine!
Joined: 04 Oct 2008
Posts: 894
Location: United States (CA)
Concentration: Entrepreneurship, Strategy
Schools: Michigan (Ross) - Class of 2013
GMAT 1: 770 Q50 V44
GPA: 3.3
WE: Project Management (Aerospace and Defense)
Followers: 61

Kudos [?]: 264 [0], given: 86

Reviews Badge
Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 02 May 2010, 20:29
riverripper wrote:
Advice I got from a lot of alums is you are better off spending a few years working post grad...many business ventures fail and few are profitable immediately so not many grads can pull it off and those who get a lot of outside funding give up much more of their companies than they otherwise would. There are a lot of benefits to waiting several years: build up your resume w/ post mba work, continue to develop your network, save up a nest egg to get you by, pay off some school loans...an interesting one I wouldnt really have thought about that thinking about it is very good, you will find more friends/classmates willing to help in a few years (very few folks have the resources to not take a decent job when graduating) and your friends who might be potential investors whether angle or working for VC companies will be further along and in a much better position to help you.

I know a few people who want to launch businesses, and a few people who will do that as a backup plan if they dont find a job at graduation. Some friends are working on part-time ventures together, if they make headway they can then quit their job and make a go of it.


Great perspective!
_________________

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Senior Manager
Senior Manager
avatar
Joined: 12 Apr 2010
Posts: 447
GMAT 1: Q V
Followers: 11

Kudos [?]: 80 [0], given: 157

Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 03 May 2010, 03:09
Thanks river, i think i see your point. Thanks for the perspective.

You got kudos.
_________________

If you found the reply to be helpful, give kudos.

Intern
Intern
avatar
Joined: 02 Jul 2009
Posts: 47
Followers: 0

Kudos [?]: 1 [0], given: 0

Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 05 May 2010, 22:39
riverripper - Great perspective indeed.
'Waiting to pay off the debt' is the most compelling of them all. Many people do wait for a few years before starting off, and spend time preparing for the same or working part-time. Good strategy. And explains why most people do not plunge straight out of b-school.
_________________

My Blog - http://followingmydream.wordpress.com/
My GMAT story - done-with-gmat-finally-scored-81966.html

Intern
Intern
avatar
Joined: 26 Apr 2010
Posts: 2
Followers: 0

Kudos [?]: 0 [0], given: 0

Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 13 May 2010, 04:14
waiwai wrote:
riverripper - Great perspective indeed.
'Waiting to pay off the debt' is the most compelling of them all. Many people do wait for a few years before starting off, and spend time preparing for the same or working part-time. Good strategy. And explains why most people do not plunge straight out of b-school.


Well I was in 1st year at Booth when I decided to take "time off" and work on my startup. The problem is that as you advance up in your post MBA career the opportunity cost keeps getting higher.

Saying NO to six/seven figure salaries becomes very difficult. Plus if you decide to get married and start a family - then having a salary becomes even more important.

The point it that if you want to start a business - do it when you don't have as many responsibilities.
1 KUDOS received
GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 10 Apr 2007
Posts: 4320
Location: Back in Chicago, IL
Schools: Kellogg Alum: Class of 2010
Followers: 78

Kudos [?]: 702 [1] , given: 5

Re: New Startups with BSchool Candidates, Does it happen [#permalink] New post 13 May 2010, 13:02
1
This post received
KUDOS
dewaans wrote:
Well I was in 1st year at Booth when I decided to take "time off" and work on my startup. The problem is that as you advance up in your post MBA career the opportunity cost keeps getting higher.

Saying NO to six/seven figure salaries becomes very difficult. Plus if you decide to get married and start a family - then having a salary becomes even more important.

The point it that if you want to start a business - do it when you don't have as many responsibilities.

Considering a lot of students are already married or engaged when they graduate, and most people have lots of debt when they graduate, salary is pretty important to most people. Outside of banking it will take a long time to get up to seven figure salaries and people with that level of income probably wont be starting a business from scratch except for maybe some partners from consutling companies...if you have that much experience you probably are going to be buying an existing company or joining a start up as a C-level executive and getting a lot of equity with very little investment. Seven figures means you are a SVP or EVP of a large company or a partner at a consulting company or are in banking.

I think the vast majority of my classmates have lots of responsbilities when they graduate...almost everyone unless they come from wealthy families who are paying for school have 100k worth of debt they need to pay off or if they are lucky maybe a few years servitude to their sponsor. Then lots of folks are married, engaged, live-in significant others and if they just supported you for two years they may not be too excited about doing it for several more.

Plus you need to support yourself beyond that. If you have 100k worth of loans and live in a city like Chicago, NYC, Boston, San Fran you are talking at least 3k+ just in rent and loans and then add things such as food and toilet paper and you see why even students with few "responsibilities" need 100k job and can't afford to work for free or for very little. Unless you live with your folks or had a fullride life is going to require a decent and guaranteed income.
_________________

Kellogg Class of 2010...still active and willing to help. However, I do not do profile reviews, don't offer predictions on chances and am far to busy to review essays, so save the energy of writing me a PM seeking help for these. If I don't respond to a PM that is not one of the previously mentioned trash can destined messages, please don't take it personally I get so many messages I have a hard to responding to most. The more interesting, compelling, or humorous you message the more likely I am to respond.
Get the best GMAT Prep Resources with GMAT Club Premium Membership

Re: New Startups with BSchool Candidates, Does it happen   [#permalink] 13 May 2010, 13:02
    Similar topics Author Replies Last post
Similar
Topics:
Big Brand or Startup - Which is a better BSchool launch pad? AskAnshul 0 03 Jul 2013, 23:29
Experts publish their posts in the topic How Are Start-Ups Viewed by B-School run4run 2 14 Sep 2011, 19:52
5 Experts publish their posts in the topic New tech start-up helps MBA applicants stay on track ApplyintheSky 24 28 Oct 2010, 15:18
Experts publish their posts in the topic international candidate to top b-schools stalite 1 23 Apr 2005, 20:16
1 A burnout.. Does this happen to you? jsplitter 10 25 Sep 2005, 15:29
Display posts from previous: Sort by

New Startups with BSchool Candidates, Does it happen

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.