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How to Handle Failed Startup?

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How to Handle Failed Startup?  [#permalink]

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New post 23 Feb 2018, 06:48
Hi all, I'm applying to business school late (round 3, racing to meet the deadlines) after my startup went bust. I'm not sure how to handle two parts:

1) The Essays:
After the startup didn't work, I realized I needed more business skills and training, especially marketing and business strategy, and so am applying to business school now. Is that a message that adcoms will accept and be eager to hear? I want to make sure I don't sound like I'm only applying because I don't have anything else to do.

2) Resume: Since the company shutdown, I've been doing a bit of part-time consulting work for a few other companies. Should I list that on my resume, even though it's only been a couple months? If so, is there a best way to list it?
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How to Handle Failed Startup?  [#permalink]

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New post 23 Feb 2018, 07:05
msrnyc wrote:
Hi all, I'm applying to business school late (round 3, racing to meet the deadlines) after my startup went bust. I'm not sure how to handle two parts:

1) The Essays:
After the startup didn't work, I realized I needed more business skills and training, especially marketing and business strategy, and so am applying to business school now. Is that a message that adcoms will accept and be eager to hear? I want to make sure I don't sound like I'm only applying because I don't have anything else to do.

Hell yeah! They will accept it. Nothing better than a failure story. :-) Just don't make it sound disingenuous. That can happen if you stretch it too far.

2) Resume: Since the company shutdown, I've been doing a bit of part-time consulting work for a few other companies. Should I list that on my resume, even though it's only been a couple months? If so, is there a best way to list it?

Offcourse you should :-)

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How to Handle Failed Startup?  [#permalink]

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New post 23 Feb 2018, 07:21
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Hi msrnyc,

1) Essays: start-up experience is really appreciated in MBA Admissions. Plus, it will give you lots of good stories to tell, including a failure story and what you learned from it. However, be careful how you explain it. It seems like your start-up just failed and therefore you are applying to b-school, right? This could be a bit to sudden. B-schools like applicants with a well-thought-out plan. You might want to explain that b-school was something you always had in mind but after the failure of your start-up you realized now is the right time to apply.

2) Resume: of course you should list your most recent part-time experience on your resume. As to how to list it, it depends on the type of consulting work you're doing and how much you can share on your resume.

I hope this helps.


Good luck!
Alex
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Re: How to Handle Failed Startup?  [#permalink]

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New post 25 Feb 2018, 14:47
Thanks for the tips!
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Re: How to Handle Failed Startup?  [#permalink]

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New post 26 Feb 2018, 10:38
msrnyc wrote:
Hi all, I'm applying to business school late (round 3, racing to meet the deadlines) after my startup went bust. I'm not sure how to handle two parts:

1) The Essays:
After the startup didn't work, I realized I needed more business skills and training, especially marketing and business strategy, and so am applying to business school now. Is that a message that adcoms will accept and be eager to hear? I want to make sure I don't sound like I'm only applying because I don't have anything else to do.
Adcom seeks honesty- and uniqueness-- and sincerity. If you can deliver this message keeping all this in mind-- then yes.

2) Resume: Since the company shutdown, I've been doing a bit of part-time consulting work for a few other companies. Should I list that on my resume, even though it's only been a couple months? If so, is there a best way to list it?

I would list it on resume -- both the company and the now consulting work. It verifies your story. If you want some quick advice on how to best construct your resume-- reach out to us here for a consult and information on how we can help you hourly to do that: https://stratusadmissionscounseling.com ... b-visitor/
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Re: How to Handle Failed Startup?  [#permalink]

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New post 27 Feb 2018, 15:09
One other note it is important to position your interest in business school as you running towards something (skills, professional development, future career opptys) as opposed to running away from something (failed startup). It's a small nuance but this can help your failed start up feel like a lesson learned and not just you being unsuccessful and a failure
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Re: How to Handle Failed Startup?  [#permalink]

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New post 27 Feb 2018, 23:48
msrnyc wrote:
Hi all, I'm applying to business school late (round 3, racing to meet the deadlines) after my startup went bust. I'm not sure how to handle two parts:

1) The Essays:
After the startup didn't work, I realized I needed more business skills and training, especially marketing and business strategy, and so am applying to business school now. Is that a message that adcoms will accept and be eager to hear? I want to make sure I don't sound like I'm only applying because I don't have anything else to do.

2) Resume: Since the company shutdown, I've been doing a bit of part-time consulting work for a few other companies. Should I list that on my resume, even though it's only been a couple months? If so, is there a best way to list it?


Hi msrnyc,

Thanks for your query.

Start-up experience is highly preferred by business schools. However, it needs to be presented in a way that it a) looks like a part of the larger plan and b) comes with a set of crucial learning (even if the start-up was a failure). Hence, you must focus on building a story, wherein the start-up fits in as a deliberate decision for you to get hold of skills that would be valuable at business school and in the future (in the pursuit of your career goals). Speak about the skills you garnered, the work you did, and the learning that came with failure. Let us ensure that the tone is a positive one :)

Yes, of course, you must speak about the consulting work, especially if there is relevant information to include such as tangible achievements, leadership experience, and hands-on exposure :)

Should you need to discuss either your essays, career goals, Resume or anything pertaining to the entire applications process in greater detail, feel free to reach out to us :)

Hope this helps!

All the best! :)
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Re: How to Handle Failed Startup? &nbs [#permalink] 27 Feb 2018, 23:48
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