EARLY AGE MBA ?? ! Is having Family business a downside?

Question

HOWDIEEEE.. to anyone who reads this...!!

Now I have a very specific situation (thats what i think ) so i am submitting my info to which i would love to hear from anyone who has the adequate knowledge to address my concerns
Heres my BACKGROUND

10th grade=> 73%
12th grade => 74% (a science student)

Then i took an year off as i did not get into the a decent engineering college..Trust me here- i got into many colleges but all of them were Pretty much CRAP (sorry for the curse but i am being bluntly honest here)
In the mean time I assisted my father during the day and studied during night..I am not sure that experience will count for business schools nevertheless i am very proud that i did that as at an early age i got to understand as to how someone who runs an industry actually functions..
The Gap year proved fruitful as i got into GGSIPU Delhi plus i got a pretty good and a decorated college in the Capital city..
Engineering was Good in fact great ..

Aggregate=> 71%(B.Tech In Information tech)
Now to be honest with you guys i was working with my father during my engineering years as well ..I would literally pick up documents and do other chores for him (Yes He Paid Me too)

Here is the real problem why i wrote this piece =>
My age is 23 years and 330 days
I will be 24 next month..!!

I graduated in June 2015..
And from DAY 1 i have been working with my father in our Family business..
Initially i was hesitant to join him as i was an IT engineer and my family is into Footwear business. Then I started to love my job [Common we make shoes and other footwear's for a living. Who would not love that right

]
Now almost an year later i feel like i need to grow my business outreach..
Trust me when i say this - Work is Fine..But the glitch is => "i want to take my family Business to places" Actually i want that to be Awesome instead of just Fine (sorry for the choice of words )
Hence i need an MBA..
And to much of my surprise my father stands right by me in this decision..! In fact He told me that its a very mature move..!!

I know most of you might think its too early for an MBA
But honestly guys Waiting for another 2 or 3 years will not take my business anywhere .It will be in a stand still.

Plus i think i have the added advantage of working with my father in my initial GAP year where i assisted him if it counts.

So it goes without saying => I DON'T ONLY WANT AN MBA ; I NEED AN MBA..!!

secondly i am a bit confused about this work experience thing ..!!
Most of the business schools require 2 years of work experience in there applicants ..
What does 2 years mean?
till the program actually starts or till the time you fill out your application
If i apply in 2016 for fall 2017 admissions then by the time i actually start my school in September i will be having 2 years and 2 months of experience.. I guess that would do..???

WHAT ARE THE SCHOOLS I CAN TARGET ???

Top 20 can i get in ?
Okay Top30?
Top40?
i am flexible as long as it in the Top 40-45
Common Guys Help me get into top 40 at-least..!!!! I don't want to wait ..!!
I am into manufacturing shoes and other footwear so anything related to marketing and advertising would be Fabulous ..Plus i like Advertising.
Now if (only if) i wait another year( which probably would not do any good to my industry ) then will it increase my chances of getting admitted..

GMAT => Appearing this October..I think i can get a good score..i will try for 700 maybe ..I will Dig that (i have started preparing)

now to the most important part=>

Community services => I am an active part of an Organisation which rescues street dogs and treats them until they are healthy..I have been a part of this organisation from my engineering days ..the reason i do it it i honestly believe in the work we do..We organise dog shows too..

Positions held => "I am not given any designations actually .. I am responsible for marketing and supply ..Plus sometimes manufacturing too. Family business comes with several added responsibilities too

The Post MBA goals => " I WOULD LIKE TO RETURN TO MY HOME COUNTRY THE DAY AFTER I GET AN MBA . Off course i would like to do an internship however..But apart from that i have one any only one vision that is to Do Justice to my family business and take it to a level it deserves"

ANYONE WHO READS THIS Please Feel free TO POST any suggestions You guys Have for me... It will be really helpful..

Love and respect to everyone
Stone Cold

The Post MBA goals => " I WOULD LIKE TO RETURN TO MY HOME COUNTRY THE DAY AFTER I GET AN MBA . Off course i would like to do an internship however..But apart from that i have one any only one vision that is to Do Justice to my family business and take it to a level it deserves" ANYONE WHO READS THIS Please Feel free TO POST any suggestions You guys Have for me... It will be really helpful.. Love and respect to everyone Stone Cold

CriticalSquare · Answer

Hi there,

Thanks for sharing your background. The biggest key for you will be demonstrating your leadership and maturity. It's rather difficult to do this since most of your experience is in a family business and your references are family members, but that doesn't mean it's not doable - you just have to recognize this up-hilll climb and focus your application on demonstrating these attributes through concrete anecdotes. You'll have to get a bit creative with your LORs. Top 40-50 is realistic for you, but there is a lot of work to be done between now and your application deadline - specifically on your story development. Getting the GMAT out of the way early will only benefit you - you'll want to be sure to apply in R1. Any chance you can achieve that this year?

stonecold · Answer

Thank you for such a wonderful insight . I am aiming for only US based schools and I am flexible in ranking. And any school in top 30 would do

And i have another question for you => I have very much made up my mind to fill the applications this year. But if i wait another year and decide to apply the next one Will it increase my chances ? i cannot delay it more than that . Also how about applying this year and if i don't get in i apply next year too. I am not sure how will the B schools compare me with the other ""Working in Multinationals organization"" type of candidates. Thats what is worrying me the most. AND YES I will be appearing for the GMAT this September fully prepared. Now as you said 40-50 is a realistic choice for me; can i achieve that this year or you are taking about the next one. Any Chances of ANY kind of scholarships? Thanks and regards Stone Cold

CriticalSquare · Answer

Hi there,

If your applications don't turn out the way you'd like them to this year, you can always reapply. There is no real correlation for re-applicants - it really depends on the level of improvement made in the subsequent year after your ding. As far as scholarships go, you'll have better chances at these at the less competitive programs and it will depend on the merits of your total application. I would enter the application process with the goal of competing for scholarships and submitting the best story you can about your candidacy.

Hope this information helps. Feel free to check out  our free resources  to get you started for your R1 preparation. Best of luck this season!

stonecold · Answer

Hey sir 
Apologies for troubling you again but i have a specific query now =>
Is my profile good enough for notre dame ? 
and additionally if not should i skip applying this year in R2 and apply in early round next year so that my work ex will be more than 2 years and 4 months?
i want to get into notre dame or georgetown..!
Actually Notre dame is my top priority.

P.S => I realize my post was a bit amateur given that i didn't do any research back then .
have done my research now ..!

Cheers
Stone Cold

CriticalSquare · Answer

Hi there,

Thanks for reaching back out to us. I think you're better off waiting until next year, boosting your profile (focusing on the areas mentioned above) and applying in the early rounds next year. Out of curiosity, why the focus on ND?

stonecold · Answer

Hi sir 
I so want to go to ND.

The reasons i find ND as the best fit for me are as follows=>
1) Very strong Alumni Network.
2) Small program yet its a fairly big university 
3)Lots of things going on in campus (Extracurriculars).
4)School's Strong community involvement
5) School is rated pretty high in india and across the globe.
6) Its general management,marketing and entrepreneurship are extremely structured,personalised and well put together.

Now whether they choose me or not thats the different story all together.

Can you give me a list of target schools that i should focus on from the beginning ?
I have 3 schools in mind => ND, Georgetown and Kelley 
Will they still be stretch next year too?
ND is ranked 25.

CriticalSquare · Answer

Hi there,

I think your target programs are worth applying to. ND and Georgetown will still be on the fringe for you where Kelley is more aligned. In looking at your reasons why ND is your top choice, these are generally (repeat...generally) true at many schools. The AdComm is going to want more specifics that demonstrate your research and interest in their school. Best of luck!

stonecold · Answer

Thank you so much sir for sharing your thoughts.
Just to point out one more reason regarding my obsession with ND =>Providing The amalgamation of business Studies with the core centred around its moral fibre/ethics is what has really got me. ("Asking more from business")

Would you like to suggest anything in particular that i can do in order to align my profile with ND.
Given that i still will be having more than an year i would definitely work on them.

Looking forward to hearing from you

Regards
S.C

CriticalSquare · Answer

First and foremost, you need to develop your leadership capacity. Your experience from your family business is a good start, but you need to develop some credentials elsewhere. I don't see much involvement or community give back - these are areas to get involved. Further, I'm not sold on your story. To be frank, I don't see any connection between the ethics of business and your experience. This doesn't mean it isn't a genuine driver for you, it just means that I'm not following your argument - and on a forum it's quite tough. I encourage you to think through the details of your motivation behind an MBA and what you hope to gain come graduation a few years from now. Connecting these dots is quite crucial! Best of luck!

EARLY AGE MBA ?? ! Is having Family business a downside?

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