Alex

Like 90% of the posts I have seen you respond to I am interested in a profile evaluation.

I graduated from DePaul University,Chicago, in 2000 with a B.S. in Honors
Marketing and membership in Beta Gamma Sigma honor society.

My overall GPA was a 3.25 with my major GPA at 3.7.

Since graduating I joined an upstart company with a friend I met in
college. Our company is a wholesale provider and deployer of ATM
machines. I started as a sales rep and have risen to become a
principal in the company. Currently we operate over 2000 ATMs and
our company has grown in revenue to nearly $5 million annually, much
of which can directly be attributed to my efforts. Aside from my
job I am also actively involved in the National Foundation for
Teaching Entrepreneurship and the Muscular Distrophy Association.

Currently I am studying for the GMAT with hopes of attending in school full time in fall '09. I anticipate being able to
score just north or south of 650 on the test.

My question is what type of schools do I shoot for? Which of your categories do I fit into? I do not have the typical worked for a Fortune 1000 background, but more of an entrepreneurial. My goals are to sell my current business and go to school to learn and better myself for the next challenge. I hope that is looked favorably upon but wanted a real gut shot answer from you.

I hope to get into a top rated regional school, so one of the sweet 16, i.e. UT-Austin, UNC, Indiana, or Northwestern as a stretch.

Do you mind providing your thoughts?

Thanks

Isaac

Sorry, I did not realize this until after the post but I graduated in 2004 from college and am 2006.

In short, you're right -- you should be competitive for schools like Texas, UNC or Indiana, with Kellogg being a stretch.

The thing with top schools is that they say they like "entrepreneurs" but in reality, they only "sort of" do. They see it as a great thing if you also have some big company or "brand" on your resume as well (i.e. the Harvard/Princeton/Duke/MIT/etc. undergrad who started his/her own biz, or a state school undergrad who worked at a Microsoft or Deloitte for a while before venturing out on their own). Having only entrepreneurial experience on your resume from a b-school admissions standpoint can be an issue that you will need to overcome -- because you are more of an unknown quantity if you don't have the name of a big school or a well known company on your resume to validate your caliber so to speak. It's no different than trying to find a job right now with the resume you have - other than startups and small companies, most employers really want to see something in your resume that they can benchmark. For example, an ex-Goldman guy managing a shrimp farm will be viewed differently than some guy whose only job was managing his own shrimp farm. To be clear though, this doesn't mean you need names on your resume to succeed as an entrepreneur (in fact, it's irrelevant), but from a b-school admissions standpoint (or from a hiring standpoint at any established firm), it can put you in a position where you do have to climb uphill. A lot of this comes down to how well you execute your application - your essays, rec letters and interview.

Alex Chu
alex@mbaapply.com
www.mbaapply.com
http://mbaapply.blogspot.com

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Alex

In your experience is the "hill" typical only with top schools or with all b-schools in general? Like you stated, smaller firms looking to hire will appreciate results in place of pedigree, does the same hold true with b-schools?

My hope is that my background can differentiate myself and gain admission to a top 20-25 program, however, it does seem that my decision to try and build a company as opposed to join one with a reputation has hindered me more than helped. Fair statement?

Again, thanks for the help, you add a lot to this forum and Manhattan GMAT.

-Isaac

To be clear, your entrepreneurial experience doesn't hinder you. It's your lack of other experience at a well known firm that does. If you have both, it can be a great thing - depending on the nature of your experience and how you position it, it could be better than someone who only has big company experience.

Anyhow, don't start changing your life, selling your business, etc. for the sake of b-school. That's just silly. Focus on what's best for you, for your business and so forth first. Apply based on what you have and the choices you made, rather than trying to "game" your way into b-school with a set of choices or a resume that you think the adcom wants (because you may end up not getting in anyhow, and then you've made all these big decisions for naught).

B-school is a good experience. It's fun. You meet people. It helps you get jobs. But it's not the Promised Land. Consider it a pit stop in your life/career - if you have the chance to go, by all means go. If you don't have the opportunity, it's not that big a deal. Plenty of folks don't have MBAs and are doing just fine by any measure (financial, emotional, ego, spiritual, whatever).

If you are happy where you are right now, apply with what you've got, and let the chips fall where they may.

Alex Chu
alex@mbaapply.com
www.mbaapply.com
http://mbaapply.blogspot.com

Alex

Just to clarify, the sale of the company is a result of market conditions and my outlook on the industry's future. We are not selling just so that I can attend school, it just appears to me that if the sale goes through, b-school would be a great next step.

At this point in my life/career I know that it is time for change and I want to make myself as marketable to future employers, or position myself for a new venture as best I can. My hope is that a degree from a top 20 or 25 program helps accomplish both. Doors that I would like to be open are not based on my background, and my thought is that an mba may change that. Is that naive?

At this point I cannot change the past, nor would I even if I could. However, I do want to go into the application process with a realistic view of where I should apply and expect at least a competitive shot at gaining entrance.

Thanks again.

iwechtex

The MBA can certainly help with the transition, but you know that you'll still face the same concerns with employers. Even with MBA recruiting, they will still look at your prior experience pretty closely - an MBA won't do enough to erase their concerns or anything. You still have to convince them that after having spent most (or all?) your career working for yourself, you are able to transition into a role where you will have a boss (because the truth is, there are enough ex-entrepreneurs who can't work for someone else).

Alex Chu
alex@mbaapply.com
www.mbaapply.com
http://mbaapply.blogspot.com