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Should I build a startup? what else can be done?

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Manager
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Joined: 22 Jul 2017
Posts: 56
Location: Hong Kong
GPA: 3.85
WE: Corporate Finance (Investment Banking)
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New post 26 Dec 2018, 23:47
I m 28, planning to submit my MBA application in 3Q/ 4Q 2019.

I work in corporate finance and equity capital markets in a boutique investment bank in Hong Kong. I have been in investment banking for 4 years. I got promoted early this year to assistant vice president. There are 5 analysts and associate working under me and the other AVPs. I would consider my promotion to be a fast track promotion compared to the others as I m the youngest AVP, while the others are at least 3 years older than me. What differentiates me with the other AVPs is that I can do not only corporate finance execution, but also deal underwriting as I have good connections with the institutional investors.

I didn’t come from a strong education background. I graduated with a B.S. Psychology degree in a low-mid tier non-target school. With luck and a bit of networking, I had the opportunity to set foot in investment banking, something I never dreamed of doing while growing up.

At 27-28, I think its about time for me to get an MBA from a prestigious university to put myself in an equal playing field with others in the same industry. I believe that not having a degree from a top uni might have limited my opportunities to get into top positions/ bulge bracket firms.

Also, I have always thought of working outside of HK to gain more international exposure. I believe an MBA degree from a top US business school would give me that golden chance.

Despite my determination (like everyone else), I think much needs to be done to strengthen my profile on top of my career achievements. I m planning to set up a startup that is involved in connecting certain service providers to their clients.

I have some concerns/ questions though:
1) Having a side business would be a breach to my employment contract, unless I ask my Company for permission; however, I do not wish my Company to know that I have such side business and the chance of getting such permission is slim; I could use someone’s name (such as Family member) as the Director of the Company, but can I still put in my profile that I m actually the Director?
2) Running a startup and making it succeed means burning a lot of money, which I don’t have right now; so I just want to set up a Company and build a website; would that still add points to my resume? I can only think of actually running the business later when I get some funding. Again, this would be difficult due to conflict of interest to my existing job.
3) What else can I do outside my hectic work schedule to strengthen my profile?


Please feel free to evaluate my profile and offer some suggestions.

Much appreciated.

Regards,
Gem
_________________
Winning isn’t everything, but wanting to win is. –Vince Lombardi

It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all- In which case, you fail by default. -J.K. Rowling

Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. -Steve Jobs

"The difference between successful people and others is how long they spend time feeling sorry for themselves."
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Farrell D Hehn: MBA
Re: Should I build a startup? what else can be done?  [#permalink]

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New post 27 Dec 2018, 00:07
Congratulations on having such a successful career in a very competitive field. That's a major accomplishment, and it will offset your undergrad in part.

What is your GMAT and grade situation?

I'm curious as to why you think the answer to the problem is to start a side business.

The question is especially because you would be jeopardizing your job by gaming the rules and that sounds stressful to me to be honest.

There's a lot of other other ways that you can improve your profile, and I think taking leadership positions in work and outside of work is key to that.

Toastmasters, joining a board of directors. Maybe starting a nonprofit if it makes sense organically with your background. And of course having great scores.

You will want to take on things that you can scale back a little bit when you are in the middle of applications and starting a business sounds like something you would be ramping up around the time you will be doing applications if you were doing it right..

I might be missing something but these are my reflections. By the way I love your nickname. Very catchy.


http://mbaprepcoach.com
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Farrell Dyan
http://MBAPrepCoach.com
"You don't often come across people so perceptive and empathetic." - EM, NYC
Manager
Manager
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Joined: 22 Jul 2017
Posts: 56
Location: Hong Kong
GPA: 3.85
WE: Corporate Finance (Investment Banking)
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Should I build a startup? what else can be done?  [#permalink]

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New post 27 Dec 2018, 02:16
MBAPrepCoach wrote:
Congratulations on having such a successful career in a very competitive field. That's a major accomplishment, and it will offset your undergrad in part.

What is your GMAT and grade situation?

I'm curious as to why you think the answer to the problem is to start a side business.

The question is especially because you would be jeopardizing your job by gaming the rules and that sounds stressful to me to be honest.

There's a lot of other other ways that you can improve your profile, and I think taking leadership positions in work and outside of work is key to that.

Toastmasters, joining a board of directors. Maybe starting a nonprofit if it makes sense organically with your background. And of course having great scores.

You will want to take on things that you can scale back a little bit when you are in the middle of applications and starting a business sounds like something you would be ramping up around the time you will be doing applications if you were doing it right..

I might be missing something but these are my reflections. By the way I love your nickname. Very catchy.


http://mbaprepcoach.com




yes, your points are valid...I really dont have much time for a new business and its too risky. I just m worried that there are many people who apply MBA with similar background then there's not much i can say to stand out.
_________________
Winning isn’t everything, but wanting to win is. –Vince Lombardi

It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all- In which case, you fail by default. -J.K. Rowling

Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. -Steve Jobs

"The difference between successful people and others is how long they spend time feeling sorry for themselves."
GMAT Club Bot
Should I build a startup? what else can be done?   [#permalink] 27 Dec 2018, 02:16
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