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what to talk about your startup companies in your mba app? [#permalink]
 20 Sep 2012, 02:56
Hi there,
I just wrote my gmat and got a half decent score (690 Q:47, V:38)..in fact still not sure if I should rewrite it since I dont have a high gpa (2.9), but that's an arg for a different time lol
nevertheless I just got started with the application process and was wondering what the key information are that the adcom would like to know about one's entrepreneurship experience..
In short, I've founded a tech company with two other friends, which unfortunately I had to abandon after 2 years due to a family misfortune..ps. it's doing amazing now
I can think of certain things for instance, the vision one started the company with, business plan in short, the story (where it started n how it turned out) however, I was looking for some professional advice!
your help's much appreciated!
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Manager
Joined: 23 May 2008
Posts: 120
Location: United States
Concentration: Entrepreneurship, Social Entrepreneurship
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Re: what to talk about your startup companies in your mba app? [#permalink]
20 Sep 2012, 13:17
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i founded a startup three years ago with a friend and we eventually sold it earlier this year.
I would highlight all your contributions. for me i broke it down by:
Product Development, Business Development, Seeding Capital, Divestment.
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Admissionado
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Re: what to talk about your startup companies in your mba app? [#permalink]
21 Sep 2012, 03:38
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Very cool! Entrepreneurial stories can be really good, because you get sooooo much experience for them. and if the business is doing well (even if you left) all the more so. The most impressive things are of course results - success and size of the company, whether you got seed funding, incubator support, etc. etc. But even without that, you can still get a LOT out of your ACTIONS and EFFORTS.. I mean lots of times you have negotiate, convince, build partnerships, set short and long term strategy, hire people, review them, inspire them, collaborate will aaaaaaaall sorts of folks, set up an office, do the marketing... sooo much better than "I coded for three years waiting to get promoted" 
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Re: what to talk about your startup companies in your mba app? [#permalink]
23 Sep 2012, 10:17
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hurdle7 wrote: Hi there,
I just wrote my gmat and got a half decent score (690 Q:47, V:38)..in fact still not sure if I should rewrite it since I dont have a high gpa (2.9), but that's an arg for a different time lol
nevertheless I just got started with the application process and was wondering what the key information are that the adcom would like to know about one's entrepreneurship experience..
In short, I've founded a tech company with two other friends, which unfortunately I had to abandon after 2 years due to a family misfortune..ps. it's doing amazing now
I can think of certain things for instance, the vision one started the company with, business plan in short, the story (where it started n how it turned out) however, I was looking for some professional advice!
your help's much appreciated! I also had a startup before bschool. I'd focus most of your effort on using your "story" to portray your entrepreneurial drive, your willingness to take risks, your comfort with ambiguity, the broad professional skills you developed during the process, your ability to learn on the fly, the multitude of failures you've likely experienced while starting a company, your creativity, your leadership, etc. I could go on and on. When telling your story, focus less on your business plan and your initial "vision," and instead ingrain your story with anecdotes that show how you evolved during the process.
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Re: what to talk about your startup companies in your mba app? [#permalink]
24 Sep 2012, 10:36
MDF wrote: hurdle7 wrote: Hi there,
I just wrote my gmat and got a half decent score (690 Q:47, V:38)..in fact still not sure if I should rewrite it since I dont have a high gpa (2.9), but that's an arg for a different time lol
nevertheless I just got started with the application process and was wondering what the key information are that the adcom would like to know about one's entrepreneurship experience..
In short, I've founded a tech company with two other friends, which unfortunately I had to abandon after 2 years due to a family misfortune..ps. it's doing amazing now
I can think of certain things for instance, the vision one started the company with, business plan in short, the story (where it started n how it turned out) however, I was looking for some professional advice!
your help's much appreciated! I also had a startup before bschool. I'd focus most of your effort on using your "story" to portray your entrepreneurial drive, your willingness to take risks, your comfort with ambiguity, the broad professional skills you developed during the process, your ability to learn on the fly, the multitude of failures you've likely experienced while starting a company, your creativity, your leadership, etc. I could go on and on. When telling your story, focus less on your business plan and your initial "vision," and instead ingrain your story with anecdotes that show how you evolved during the process. Thanks MDF! Excellent points! but may I ask you why you suggest to focus more on the story rather than the business plan and initial vision? I thought they were equally important? Would you please elaborate? Thanks again!
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Manager
Joined: 23 May 2008
Posts: 120
Location: United States
Concentration: Entrepreneurship, Social Entrepreneurship
GMAT 1: 740 Q49 V42
WE: Business Development (Consulting)
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Re: what to talk about your startup companies in your mba app? [#permalink]
24 Sep 2012, 10:48
This is the feedback I received from bschool grads on my app essays. Focus on your personal development rather than outlining the business plan. 10% milestones/failures 90% how that experienced affected you. Adcoms would rather know how that entrepreneurial experience shaped you personally
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Re: what to talk about your startup companies in your mba app?
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24 Sep 2012, 10:48
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