Unique Profile Evaluation - Entrepreneurship - HBS?

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Hi Everyone,

Planning early for MBA applications this fall and hoping for HBS.

My background is incredibly unique - hopefully in a good way - and I wondered if anyone had any feedback about my chances.

My Profile

26 / Male / Canadian

Education

Undergrad - Richard Ivey School of Business HBA

* Ivey's HBA is modelled after Harvard's program, and (I'd like to think?) the two schools have a good relationship. We are the second largest producer of cases in the world (next to Harvard) - I am hoping Ivey helps my application?

GMAT:

* I have not taken the actual test yet, but based on numerous practice tests I believe approximately 700 is realistic - slightly below the Harvard average. Does 20-30 points matter that much (eg. if I scored, say, 680?) given my unique experiences?

GPA:

"Good to Great"? Ivey's marking scheme is unusual but I assume HBS is familiar with it. Basically the equivalent of an A/high A- overall.

Work Experience:

It's difficult to tell the whole story concisely in an online forum, but here goes...

Throughout high school I operated an internet retail sales business, offering sports video tapes and DVD's to customers around the world. I made good (although not life changing) money while going to school.

I used the profits from my first business to begin investing in real estate, which I did while I went to Ivey. After graduation, I sold my properties and closed the internet business.

I purchased my first franchise of an up and coming retail ice cream shop in 2007. Over the last four years, I have expanded incredibly quickly. At this point:

* I secured financing for, and as a result opened, seven different locations in just two and a half years
* My stores generate nearly $3,000,000 in revenue
* Employee over 100 (mostly part-time) employees (have some great leadership stories for this portion)
* I've had lots of rewarding experiences (leadership - growth - financing) and lots of bad experiences (partnerships gone wrong - cash flow challenges - relationship with head office) that I think would lend themselves well to a business school application

I speak to an entrepreneurship class every year about "how entrepreneurial" my adventures in franchising have been - with the systemization, rapid growth, and creative financing I've been through, I generally manage to convince everyone that I didn't just "buy a job" - but will HBS see "franchise" and think something different?

I should point out that a deal is on the table for the stores to be sold and I would not be owning them while going to HBS (and this would be made clear in the application).

Extracurriculars

* Pubic Speaking - I speak at universities and high schools about my adventures in entrepreneurship approximately 10 times per year
* Junior Achievement - I deliver programs to grade school children about business and entrepreneurship
* Marathon Running, Volleyball, Soccer, Ultimate Frisbee
* Misc University clubs

Reference Letters

1. Entrepreneurship Professor from Ivey that I've stayed in contact with
2. Representative from Franchise head office
3. Suggestions for #3? Employee? Bookkeeper? Investor?

Specific Questions

1. How does Harvard look at entrepreneurship? Should I worry about any potential stigma of being a franchise?
2. Does being Canadian help? Going to Ivey?
3. Do 20-30 points really matter for the GMAT for "unique applicants"? (assuming I am one?)

Appreciate any advice!

Rob
Source: — Ask an MBA Admissions Consultant |

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by Tani » Mon Apr 18, 2011 4:31 pm
Your entrepreneurship background will look great. HBS, like all other top schools is looking to bring a variety of experiences to the classroom and successfully working within a major franchise organization will give you a perspective few, if any, of your competitors will match. however, if you are serious about entrepreneurship, don't overlook Babson. It is generally considered the best entrepreneurship program in the country, if not the world.

Being Canadian probably doesn't have a lot of impact. Most top schools take a third international students each year and there are many Canadian applicants, although not as high a proportion as they see from the Pacific Rim. Ivey should help, not because of the business aspect, but simply because it is a challenging school that produces good graduates.

Generally being 30 points below the average can hurt your application and being 30 points above can help. It would be great if you could get within that range.

For your third recommendation, look for someone who can really comment in depth on your work and your potential. If your investor is involved enough to know how you deal with the business then that would be great. If he/she just hands over the money and vanishes, probably not. The issue is what your recommenders will say about you, not who they are.

Overall you have a great profile and should do well. Nevertheless, I always caution people that every school turns down many more qualified applicants than they can accept. That means there are no guarantees and anyone determined to go "now" should include a safety school on the list.

Good luck,
Tani Wolff