{"id":33081,"date":"2016-05-16T01:58:23","date_gmt":"2016-05-16T08:58:23","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=33081"},"modified":"2016-07-27T15:36:58","modified_gmt":"2016-07-27T22:36:58","slug":"goal-setting-as-an-entrepreneur-2","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/goal-setting-as-an-entrepreneur-2\/","title":{"rendered":"Goal Setting as an Entrepreneur"},"content":{"rendered":"

\"Check<\/a>I always ask my clients to state their long and short-term goals for me on our first meeting.\u00a0 Eighty percent of the time I hear the response, \u201cI want to be an entrepreneur<\/a>.\u201d\u00a0 So I begin to peel away at the onion.<\/p>\n

\u2022\u00a0What problem is your business going to solve?<\/p>\n

\u2022\u00a0\u00a0Why is it different than a solution that exists today?<\/p>\n

\u2022\u00a0Is there a market for the goods or services you plan to sell?<\/p>\n

\u2022\u00a0\u00a0How big is that market?<\/p>\n

\u2022\u00a0\u00a0Who is your competition?<\/p>\n

\u2022\u00a0\u00a0Can you patent your solution?<\/p>\n

\u2022\u00a0\u00a0What will your margins be?<\/p>\n

\u2022\u00a0\u00a0How will you finance this business?<\/p>\n

\u2022\u00a0\u00a0What is your expected return on investment?<\/p>\n

\u2022\u00a0\u00a0What is the\u00a0exit strategy?<\/p>\n

You can't just say, \u201cI want to be an entrepreneur\u201d and leave it at that.\u00a0<\/strong> You also can't just have an idea or concept.\u00a0 You need to have the skeleton of an actual business plan if you want to credibly declare yourself an entrepreneur in your MBA application<\/a>.<\/p>\n

\"Read<\/a><\/p>\n

\"Natalie<\/a> By Natalie Grinblatt Epstein<\/a>, an accomplished Accepted.com consultant\/editor (since 2008) and entrepreneur. Natalie is a former MBA Admissions Dean and Director at Ross, Johnson, and Carey.<\/em><\/em><\/p>\n

 <\/p>\n

 <\/p>\n

Related Resources:<\/strong><\/p>\n

\u2022\u00a0Leadership in Admissions<\/a>, free guide
\n\u2022\u00a0Your MBA Goals Essay: Get Ready, Get Set, THINK!<\/a>
\n\u2022\u00a0Jon Medved And OurCrowd: The Remarkable Story Of An Entrepreneur<\/a>, podcast<\/p>\n

This article<\/a> originally appeared on\u00a0<\/em>blog.accepted.com<\/a>.<\/em><\/p>\n

Applying to a top b-school? The talented folks at Accepted have helped hundreds of applicants get accepted to their dream programs. Whether you are figuring out where apply, writing your application essays, or prepping for your interviews, we are just a call (or click) away.<\/p>\n

Contact us, and get matched up with the consultant who will help\u00a0you\u00a0<\/em>get accepted<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

I always ask my clients to state their long and short-term goals for me on our first meeting.\u00a0 Eighty percent of the time I hear the response, \u201cI want to…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,1,939,775,243],"tags":[7,1005],"class_list":["post-33081","post","type-post","status-publish","format-standard","hentry","category-mba","category-uncategorized","category-accepted","category-admission-consultants","category-blog","tag-entrepreneurship","tag-mba-entrepreneurs","entry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\n\t\t\n