Entrepreneur - Is it worth the MBA?

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Entrepreneur - Is it worth the MBA?

by tooconfidential » Mon Nov 20, 2006 10:06 am
I really appreciate your effort in helping us find where we stand in the admissions process. Thank you, Stacy!

My life has been taking entrepreneur path and now I am exhausted after my diligent work so far. Results have been appalling but with lot of innovation through out the career. I just feel that I am still learning the trade and not too far from glory.

I have my bachelors from the top school in India and a masters from states. My first job was under a gentleman with excellent track record and whose work is a case study at MIT Sloan. I did learn a lot under his leadership and then worked as a Director in one of the startups in the Bay Area. Entrepreneur blood was just rising then and I decided to call it a day and start something on my own with zero investment. We did manage to come up with a product which earned my unit to bootstrap and then with two more products (one of a kind). I have been thinking out of the box and came up with a cool service which we will start offering in Q1 of 2007. We are 20 now but need to get VCs at this point. I really detest VCs as my first boss did. I will turn 28 early next year (though my hair has already turned grey :D ) and want to pursue MBA from top school in UK or US. I am tempted for schools in UK as they have one year program and I do not see any ROI with two years program.

I just registered for GMAT test in first week of Dec and found BTG.

My questions to you, Stacy.

a) What is a good score to get into top schools in UK or US? I know there isn't any cutoff but I feel I may get somewhere between 650-730 depending upon the time I put in. Would it suffice or lest I should cancel and worry next year if I get time.
b) Is MBA worth the stroll for Entrepreneurs? My reason for doing is for VCs, a good alumni, reasonable exposure to Sales and Marketing cycles and sharpening leadershipskills.
c) Would my profile be relevant for top schools?

Thank you and God bless you!

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by Stacy Blackman » Tue Nov 21, 2006 10:19 pm
a) 650-730 is a good range. 680 would be nice and upwards of 700 very strong. No matter what, do not cancel. You need to see how you do on the first run so you have a benchmark and you may surprise yoruself. The schools will accept your highest score.
b) You named many of the reasons that I also believe an MBA can be very useful for an entrepreneur.
c) It sounds like you have some very interesting experience! Depending on your numbers, I think you should be a good candidate for a top school.
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by tooconfidential » Wed Dec 06, 2006 8:04 am
Stacy Blackman wrote:a) 650-730 is a good range. 680 would be nice and upwards of 700 very strong. No matter what, do not cancel. You need to see how you do on the first run so you have a benchmark and you may surprise yoruself. The schools will accept your highest score.
b) You named many of the reasons that I also believe an MBA can be very useful for an entrepreneur.
c) It sounds like you have some very interesting experience! Depending on your numbers, I think you should be a good candidate for a top school.
Thanks Stacy. Gave the test today. Scored 720.

Could you suggest some entrepreneurial oriented schools? Thanks.

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by Stacy Blackman » Wed Dec 06, 2006 10:36 am
An entrepreneur really needs a general management education, as what you will essentially be doing is running a business and managing your team. Really most if not all of the top 20 schools are strong in general management. You should think about what you want out of a program - location, teaching style, size, etc... and do some research on these programs.
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