Goals Essay and "Vision Statement"

Question

Alright, just read through a chapter of "88 tips for MBA Admission", and they said you need to have both a short-long term career goal AND a "vision statement" about how you plan to change (or what you see needs to be improved) in the chosen career field you're looking to do. For example, if you say you want to do some fund management in China, you talk about the specific type of work you want to do (that one we call know), and then tie it to a very specific trend in China, like "even though they are growing very fast, there is a lack of fund managers to ensure a healthy growth, thus I want to focus on X and Y skills in Fund management and leverage the skills I get from an MBA to ensure a healthy and fast economic growth in China blah blah blah" (I'm making this up, so bear with me

) Does anyone else have their "vision statements" done or will be including one in their essays? My long term goal is entrepreneurship in Asia... I really don't know what to say other than the standard and cliche "there are many opportunities in China to find a niche market and grow it, blah blah", maybe talk to a few entrepreneurs and see what they find to be good startup markets in China and do some research on that. Do you think that will be good enough, or is the vision statement too specific for most schools (because of the word limits)? Thanks!

lanter1 · Answer

I don't know if I have a vision statement, but I have very clear goals and a vision for the future. I like the vision statement idea. It shows that you know EXACTLY what you want and allows you to connect how the MBA and that specific program can help.

aviroop · Answer

You can also use the vision statement to integrate your personal goals and work goals together.

Your vision statement does not have to be simply a specific point in your goals. Tie it with some community service, personal goals, and work goals - makes a better approach.

my 2 cents.

kryzak · Answer

thanks aviroop and lanter1. 

I guess my problem is that I'm a candidate that *wants* to get into entrepreneurship, but have never done it before, so I don't really know what I want to "change" out there or what startup I want to make to "change the world", so to speak. I can speak about my experiences and how it logically comes together for an entrepreneur, but at this point I'm pretty clueless about what out there needs a startup or business plan to fill. 

It might be something I'll just need to learn as I talk to the Haas Entrepreneur clubs and see what they do, how they brainstorm, and things like that. Maybe I'll leave a paragraph for it in my essays to be filled out later... I have 2.5 months... =)

adcxaway · Answer

Would that be a risk? Because an entrepreneur doesn't really need an MBA? Entrepreneurs learn what they need to learn as and when it comes along... I've always wondered about why going to b/school would make somebody an entrepreneur after that. I know it would give you the whole range of skills, but you can learn all that on your own?

kryzak · Answer

good question adc. I believe that an entrepreneur can learn how to be an entrepreneur by himself, but it'll take longer, require you to have the right connections, and you won't really learn the comprehensive set of skills, just the ones you have to use to "survive".

There is a reason why so many schools these days (Chicago, Haas, Stanford, Andersen, Sloan, Columbia) tout their entrepreneur center and try to attract people to get the entrepreneur certificates. It sounds paradoxical, but I think the MBA version of "entrepreneur" is for people who either have done the stuff but want to learn the foundation later on, or people who want to get into entrepreneurship but didn't have the connections to do so. 

Just my thoughts...

adcxaway · Answer

I notice though, that quite a number of successful entrepreneurs seem to have technical skills. Those that only have general skills seem to be far and few...

bherronp · Answer

I think in some ways though, getting an MBA could actually discourage someone from becoming an entrepreneur, at least in the short term. I know that I would have a hard time being without a steady pay check if I were to end up with 100k in debt out of school.

mNeo · Answer

Maybe kryzak is hoping that by going to Stanford, he can ensure that he will meet other "entrepreneurial" people who are in similar situation as his (I am talking about you, mNeo :-D

). On a serious note, although I agree that it's tough to explain why someone would need an MBA for entrepreneurship and waste two years that she could spend on her entrepreneurial endeavors. But there are a lot of things that one can get from an MBA (There must be a reason why almost every schools claims to be and wants to be good at Entrepreneurship). Thinking strategically, evaluating markets and opportunities, grabbing opportunities at the right moment, finding funding, and finding right people around you who think about similar stuff - all these things (And more) can get a lot of help from MBA schools.

kryzak · Answer

personally I think the network is the #1 reason. If you need a good buddy to start something, who else better than your entrepreneur class mate from Stanford (you and me, mNeo!

) to help you out? Business Foundation is the #2 reason. Yes you can go out and start a company with a great idea, but without foundation, it's just a great idea with no legs. No good marketing, no good financials, no good business plan to success... just "hoping" some rich company like Google will come and buy you up... not the best business model for success.

adcxaway · Answer

I just reworked my goals essay and I feel like a rock star...

Yes, while it does help to have the network and such, and that schools place an emphasis on entrepreneurship; i don't really think that you can make somebody an entrepreneur in the sense that you can give him all the skills, but at the end of the day, it's up to him to take the risk and start something new. but then again, maybe we're looking at entrepreneurship = starting your own business, where as there's entrepreneurship in other ways, like implementing a new process, etc. I'm... not really a natural entrepreneur.

kryzak · Answer

I agree, you can't *make* someone an entrepreneur by just giving them a b-school education. You still have to take the risk.

And also, after talking to an entrepreneur, I learned that entrepreneurship is not about startups, but about being innovative and changing things for the better and filling a hole in business. You can be an "entrepreneur" in a large company or a startup.

helg · Answer

HBS specifically asks for the "vision statement" in one of the essays. So I kinda forced to do that. Also, I agree that it's always better to have a goal and a plan on how to achieve it, than just a goal.

kryzak · Answer

I still see the "plan to achieve your goal" as slightly different from the "vision statement". I have a plan to achieve my goal, but I don't know *what* I want to change in this world or what market "hole" I want to plug with my entrepreneur studies. I just want the foundations of business, how to lead, and how to get connections with VCs and things like that, and then seize opportunities as they come up. I wonder if that's too "vague" for the essays.

grad_mba · Answer

Kryzak, think of 'vision' as the 'what' of your long term career goal and the path to get there as the 'how'

U can explicate on the 'what' pretty easily. Say my long term ambition is to become a vegetable vendor - the 'what' comprises your deliverables as you chalk out as a vegetable vendor.

What will I do as a vegetable vendor ? <= vision

expand into the wholesale segment
establish tie ups with major suppliers
step into the manufacturing segment
and .. never having to 'buy' my own vegetables

The 'how' I will become a vegetable vendor will answer the usual - short term goal / why mba / why this school n all that blah

get the drift ?

The 'how' I will become a vegetable vendor will answer the usual - short term goal / why mba / why this school n all that blah get the drift ?

kryzak · Answer

thank you grad_mba... that was very insightful!

I get what you're saying, and now that I understand it a bit, I'll try to figure out how to write about the 'what' in my goals. That is something I don't have a specific answer for yet just because I don't know enough about entrepreneurs. I guess that's how research and talking to entrepreneurs will help!

Goals Essay and "Vision Statement"

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