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Entrepreneur problem

Launched April 26, 2006
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Entrepreneur problem

by thibaut_france » Tue Oct 02, 2007 2:03 pm
Dear Amy,

First fo all I would like to thank you for your help.

I would like to have your advise about a topic that is worrying me so much.

I’m a French guy working for a big enterprise, but at the same time I decided to start my own company in parallel two years ago.

Due to contractual and tax issues, it was preferably for me not to appear as CEO or administrator (in the legal papers there is only one title which is administrator of the company, one relative of mine) and I don’t have any legal position or title (only main stakeholder), although I own 80% of the stakes, and manage and run the company 100% with my team.

I would like to know if from your point of view an admission committee could pose some problem or request from me some proof of my CEO status, and if so, how I could prove it (notarial certificate of my stakes, some explanation about situation, etc.). I don’t know which is the legal status of this issue in the US.

I’m afraid that a good application could be spoilt by some suspicions about my real condition if I’m not able to give a contract or legal paper showing my title or real position. How could I explain my situation without hindering my application? Which do you think is the best approach to this issue?

Perhaps I'm getting a little paranoic, but this issue is really disturbing my sleep!!

Thank you very much in advance!

Thibaut
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by Amy » Wed Oct 03, 2007 11:51 am
Hi thibaut_france,

I don't think this will be a huge problem - if there is only one officer on the official papers, and you own all of the shares, it sounds like you are legitimately in charge.

You will probably want to explain all of this in the background check process, which happens after you are admitted. If you are really concerned, you could always contact your target schools directly to ask them what verification they require for your CEO title.

Good luck!

Amy
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Entrepreneur problem - General Aspects

by thibaut_france » Wed Oct 03, 2007 1:39 pm
Thanks, Amy.

I would like to deepen a little on this subject of background check process after being admitted.

For example, I could easily make a notarial document in my company nominating me as general manager, CEO or bell-boy, if neccessary. The question is, having this nomination during admission period, would not sound strange, like making it just for the sake of improving my admission chances?

If I had to change legal responsible of the company just for tax or my current employer contract, would it not be seen as low ethics?
I have the feeling that the high ethical standards which B Schools require could make that just a shadow of doubt could spoilt my admission offer.

I have some more concerns:

For example, if a I start collaborating with a volunteer's organization now, it could be regarded as just trying to trick admission committee? How deep go those background reviews?

Another doubt, I have almost all of my volunteering in little church or organisations. Shall I provide their contacts? This will be checked? How can I offer proofs of it?

Moreover, three years ago I had some distance courses on economics. I can provide certificate, but i honestly doubt that this distance university has ever heard of sending those kind of certifications directly to business schools. Obviously I want to show them, because I think they are a big asset in my academic experience, but I'm afraid that due to burocratic reasons in the french distance learning university, a BSchool could turn down their offer to me just for not being able to provide the strict procedural requirements.

I could sum up my doubts in one question: how deep and strict is the background checking process and how flexible are Adcoms to understand the special circumstances around you and your background?

I would like to present the true facts about my life and career, but I do not want to spoil my chances just showing something that afterwards could be difficult to check or which could pose some doubt about my integrity.

Please help me solving each one of these doubts. I will owe you a big favour if you can help me in how to present my application in this sense.

Thank you very much and best regards

Thibaut
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by Amy » Fri Oct 05, 2007 7:25 am
Hi Thibault,

If you are being honest about everything you report on your application you have nothing to worry about.

The background checks are provided by third party companies and each school hires different companies and performs different types of background checks, so I really can't answer as to the specifics you cite. The purpose of the background check is to make sure you went to the university you say you went to, you worked at the companies you say you worked at, etc.

I don't see anything problematic in the examples you cite, but if you are concerned about some specific issue, you should contact the school directly and ask.

Good luck!

Amy
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