MBACrystalBall wrote:
...an exclusive veg/non veg restaurant, a gaming arena for kids, a ice cream/juice shop and 2 party halls making an overall revenue of 3.5 crore a year.
Ek sher arz hai.
Aap aaye hamare thread par, khuda ki kudrat hai,
Kabhi hum aapko, kabhi aapke bank balance ko dekhte hain!
Damn! And you want to leave that to pursue a regular job that won't pay you even a fraction of what you can expect in 2 more years?
I don't know hindi but I fairly understood what you said Sameer
As I said earlier, its just the revenue, a family business and I am not the sole proprietor
So I cannot take it up for another 5 years till other second generation people are ready
There are lot of other factors to be considered as well. I can use the opportunity now to learn something.
MBACrystalBall wrote:
My work involves resource allocation of 70+ employees, supervision, inventory management and organizing parties. Apart from that I try to look over the finances and had come with some new ideas/improvisations to boost our revenue.
You seem to have done far more interesting work in the last 1 year, than you did in the first 2. Lucky you.
Yes, I agree with you and this is what lead me to think about MBA very seriously.
MBACrystalBall wrote:Goals:MBA - Entrepreneurship & Consulting.
This is where it starts getting juuuust a little murky. We have 2 yrs of IT, then 2 years in the (broadly categorised) hospitality industry....and then WHAM...consulting. Important question for you to ponder about - when your fingers start hurting from counting 3.5 crores (you can see how much that number has distracted me) - How are you planning to connec the dots, sirji?
In the past one year, I had provided many ideas and suggestions and some of them delivered the expected results. There are few problems which I faced in these two years. I have adequate leadership experience and managerial skills, but I lack in planning and organization. Most of my ideas could have turned out much better if I had better knowledge in planning/organization/marketing. An MBA focused on entrepreneurship and marketing/growth strategy would help me scale our own business to the next level, concentrating more on entertainment apart from food services and establishing ourselves in different areas. During this 1+ year of working in the family business, I met a lot of small time entrepreneurs who are managing different business, but they were lacking the similar skills mentioned above. In the internet age, majority of the marketing is through word of mouth and known trusted contacts. Even the top players in non major cities lack emarketing/telemarketing because of which it becomes difficult to scale up their businesses though they have the potential and instead diversify their businesses. So apart from the family business, I would like to start my own consulting firm, which will specifically focus on startups in execution of BPs and SMEs in scaling up their businesses to the next level concentrating more on marketing/growth and branding their products. Since I have around 5 years turn around time to return to my family business, a consulting job post MBA would equip me with necessary skills to work towards both of my goals, gain industry experience and the processes followed in the consulting industry, diversify my areas of expertise, get new contacts and meet like minded people, who share similar ideas and working along with them might be of immense help.
MBACrystallBall wrote:Target schools:...All these schools are good for entrepreneurship and will help me land in consulting job that's why I came up with this list.
A word of caution. Just because a school has a strong reputation in consulting doesn't mean every student has an equal shot at getting into those firms.
Yes, I get it. But 25% chances is better than 10%
MBACrystalBall wrote:Since I have almost two months time for apps what are the odds in going for a retake, how much should I target?
If polishing some specific weak areas can help you get a decent spike, then sure, take it. Don't ignore your application storyline (specially focussing on your transition and your post-MBA plans).
I guess I have done at least a decent job in explaining it above. If its not convincing enough then I would come after you to help me frame it soon after my GMAT retake
MBACrystalBall wrote:How will the adcoms consider the number of GMAT attempts ?
They won't care. They'll take the highest score.
Thanks Sameer, I will do my best to improve it as of now
