Career break

As long as you were FT with the startup during those 3 years then it will not be viewed as an employment gap. I can't answer the question about where best to invest your money. Many entrepreneurs feel like an MBA is not necessary in launching a successful business and that the only way to prepare to run/launch a business is by actually doing it. I believe in the value of an MBA in this area but I would do some research and figure out what path makes more sense, especially from entrepreneurs and those who have received an MBA

I totally agree with Dozie that MBA is not a guarantee for success in startups. However, MBA is more likely to equip you skills you miss in management. The MBA experience will link your real life experience with other management basics and experiential learning. You may find what you did you wring and what you need to overcome the struggle. Also, it is an opportunity to expand your network and learn from success stories and connect with bright minds and fund raisers. On the other hand, MBA may shift your way of thinking and discover hidden careers.

To serve your dream, i advise you to search in entrepreneurship programs in 15-20 schools. Divide deeply in each program and find what suits (electives, labs, ..etc). Also you need to polish your essays and maybe your struggle story in your startup be a strengthen in your application.

good luck

Hi shobhalamba72,

I hold a different opinion on efficacy of MBA programs if one’s goal is entrepreneurship. These days you can get the knowledge or skill (with respect to entrepreneurial goal) you get from an MBA program by joining one of the accelerators, programs such as SLP, getting mentors, and so on. For argument sake, even if an MBA program offers more, it takes away something exceptionally huge if you want to be an entrepreneur. And that is the burden of loan, which will stop you from being an entrepreneur for several years. Moreover, you’ll spend nearly two years away from the project. Remember, the correlation between any program (MBA or less formal) and entrepreneurial success is weak, but the correlation between doing MBA program and postponing (which usually means giving up altogether) your idea is strong.

In case you decide to apply, you should show your startup experience in your resume. In your application, you can talk about what you learnt from the failures, which can make for strong essays if put properly.