The fact that you are self-aware and self-critical is a huge bonus here. The low GPA will be a hurdle on your path to attending a Top 50 program, though it won't be impossible. With that low of a GPA, it likely also won't matter what field of study it was in, and I wouldn't rest many hopes on your grad GPA statistically compensating either--the most it will likely do is help tell your story of self-improvement and maturation. Since the GPA is out of your control, you need to focus on bolstering those things that are within your control. The GMAT, of course, is the most obvious--study hard, score strong, and your prospects will likely improve significantly. Also focus on your professional and extracurricular improvements. It's not enough to start a business--what did you do to lead and manage that business? And what were the results? And what have you done to show not only that you are proactive but that you have professionally developed to a degree where you're prepared for an MBA program. And finally, execution of your application will be critical to carefully craft all of these pieces into a picture that communicates to admissions committees just the right story. So, while you are in the process of networking through other professional communities, be on the lookout for mentors who might be assets for letters of recommendation (it's best if you had enough high-quality recommenders now though), craft your resume to show continued and significant advancement along with achievement in your professional life, and give yourself enough time to craft and revise your essays as well as fully develop your answer to "why an MBA? Why now? Why here?" that will help influence your essay writing.
A Top 50 program is certainly within reach. It is just going to take some extra effort and careful execution. But you're already in a better position than many candidates since you're willing to admit areas of weakness and correct them. That's a trait that MBA programs certainly respect and are happy to see.
Jason, WyseGyde
https://www.wysegyde.com