Hi,
I have been self employed for a while. I applied to few schools and now waiting for final admit decision from 3 of them.
In last 1 month there has been a significant development at my business end. It was working in a partnership format and the partner has taken over the entire biz now (an hostile takeover - a pretty nasty one). I immediately started working on a new business setup (I can provide details of land acquisition, company formation, client acquisition etc).
I am not sure how to share this news with the adcom at this stage of the application. Do I need to share this information with them? Will it negatively impact my chances or simply add as a distraction from the original theme? Moreover, I am not even sure if the company will continue to exist because it is possible that the partner would move the entire operations his own company's account.
So, now I am in a situation where I have an important update to share and do not know how to go about it.
Further, I am also worried about the verification process if in case the company ceases to exist or my partner denies any involvement - though I am sure that suppliers & clients (big domestic names) would testify in favor of me.
I must also mention that this situation does not impact my motivation, my goals to do an MBA. In fact it only adds to the urgency now. Please advice what would be the best way to deal with this situation.
I have been self employed for a while. I applied to few schools and now waiting for final admit decision from 3 of them.
In last 1 month there has been a significant development at my business end. It was working in a partnership format and the partner has taken over the entire biz now (an hostile takeover - a pretty nasty one). I immediately started working on a new business setup (I can provide details of land acquisition, company formation, client acquisition etc).
I am not sure how to share this news with the adcom at this stage of the application. Do I need to share this information with them? Will it negatively impact my chances or simply add as a distraction from the original theme? Moreover, I am not even sure if the company will continue to exist because it is possible that the partner would move the entire operations his own company's account.
So, now I am in a situation where I have an important update to share and do not know how to go about it.
Further, I am also worried about the verification process if in case the company ceases to exist or my partner denies any involvement - though I am sure that suppliers & clients (big domestic names) would testify in favor of me.
I must also mention that this situation does not impact my motivation, my goals to do an MBA. In fact it only adds to the urgency now. Please advice what would be the best way to deal with this situation.
