Plan B?

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Plan B?

by meanjonathan » Fri May 25, 2012 10:11 am
I find myself at a crossroads. Here's my story (and questions) in a nutshell:

I remember when I graduated High School, my "life plan" consisted of kicking a** in college, getting into HBS, and becoming a Wall Street star. This was back in 2000 when the .coms were still hot. I had already done a research project on portfolio management and another on IPO selection, and I had just completed a yearlong internship at Morgan Stanley. I thought I had it all figured out.

Then college: Early on, a death in the family derailed my focus, which became much more about soul searching and much less about academic excellence. Prior to my mom's death, I had been accepted into two selective entrepreneurship programs at the University of Maryland's Smith School as well as the University's flagship acapella group. Ultimately, I dropped the extra-curricular stuff and opted for travel and exploration. I studied in Spain for a semester and spent three weeks backpacking across Europe, an eye opening experience.

Upon my return, I had a short-lived resurgence of scholastic zeal and I spent my toughest semester junior year earning straight As. I probably would have finished college with a strong and conspicuous upwards trajectory, but instead, I was dealt an opportunity. A twist of fate led me to conceive a business idea, which eventually snowballed into the undertaking of my young life. While still in school, and with the help of a major scientific research firm, I began the development of a world-class, cutting-edge sports beverage, the first of its kind. Using my own savings, and raising money from friends, family, and my former mentor, I produced my first batch of my "ready-to-drink" and began selling it to a niche market in 2005/6. For context, back then Vitaminwater was still a little-known specialty drink sold mostly in NYC and California, and in retrospect, my timing was (almost) impeccable. (I graduated college with multiple distractions and a GPA of only 3.43).

Fast forward a couple of years. I had successfully sold into a major NCAA sports program and was being looked at by several VCs and angel groups for a first round of financing. That was 2008. Then the credit bubble burst, the economy tanked, and my erstwhile investors stopped returning my calls. I depleted the last of my cash and, burnt out, sought employment.

At first I worked for a colleague's beverage distributorship, but even they closed their doors after a few months. Out of desperation, in a tough economic climate with very few prestigious employers ready to take a chance on an entrepreneur, I took a job at the federal government. (I happen to I live in the DC area and they were hiring.)
Now I've been at the government for 2 years and, reminded of my original vision, I took the GMAT last year and scored 700. I'm taking it again this June and plan on scoring at 750-760.

I admit I'm a tough case. My unique experiences make me a bit of a diamond in the rough. On one hand, I'm 999% positive that (in practice) I'd be a huge asset to any of the top five b-school programs. I'm totally driven, now more than ever-having tasted success only to wipe out in the end, there's no way I'm going to let a little setback stop me. I'm an idea machine, I read between the lines, and (so I've been told) my questions are astute and provocative. In the classroom, my real-world insights would lend discussions a healthy dose of perspective. To some extent, I'm my own case study.

On the other hand, government experience? A failed entrepreneurial experiment? I routinely regale and impress my Columbia MBA friends with my warstories, but on paper, I'm afraid, the Technicolor won't shine through. Plus, (I'm loathe to even pose this, but I need to hear different perspectives) at this point, is it possible I have too much real world experience? Am I too old? It's been 7 years since college and I've been working ever since.

In sum,
1) I have a lots of experience, lots of value, and lots of drive. How do I figure out which career path would be best for me (and in the eyes of admissions committees)?
2) How does one put it all together in a brilliantly attractive package, sell it to Harvard, Stanford, and Wharton, and make it all happen?
Source: — Ask an MBA Admissions Consultant |

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by MBAApply » Mon May 28, 2012 3:52 pm
You know the answer to your question, based on what you wrote already.

What is more important from a practical perspective is looking at other schools. Resist putting H/S/W on such a pedestal that it can make you feel the other schools are beneath you - because they are not, and just as important, there isn't as much of a difference as applicants make it out to be. The only people who make such a huge distinction are applicants and prospective applicants. Students are too preoccupied with their own MBA experience to really get hung up on it, alums are too busy with their own careers, and recruiters don't care as much as you think: they more or less recruit at the same schools, and the moment you walk in the interview room, it's all on you. Remember that the name of your school is just one line item on your resume, and they are looking at you more holistically than you might (i.e. the name of your school isn't some glass slipper that will render everything you've done in your past irrelevant).

Apply to NYU, Cornell, Yale, Booth, Kellogg, Tuck and the like. These are great schools where you will have an amazing experience and still reach whatever goals you want (and if you want to do private equity or VC which is what I suspect most people who put H/S/W on a pedestal -- it has nothing to do with whether you go to H/S/W or not, and everything to do with your pre-MBA background. Don't be fooled into thinking that all of a sudden an MBA will cause these otherwise astute investors in the PE or VC world to suddenly see you differently - because many of them have top MBAs and work with them regularly to know that the degree alone doesn't separate the knuckleheads from the Mensches).

And remember: drive without goals doesn't mean anything. Also, keep in mind that b-schools care less and less about career goals now in the applications (HBS doesn't ask them this year, Wharton has continued to whittle down the goals essay, Stanford never cared all that much in the first place, Columbia only cares that you don't have some whack goal and that you can get a job, Sloan doesn't ask for goals, and so forth). The days when career goals was paramount for the applications are gone.

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by meanjonathan » Tue May 29, 2012 4:57 am
@MBAApply,

Thanks for the thoughtful response. A few follow-ups if you don't mind:

1) With regard to goals, my goal now is something like, "find happiness doing what I love every day." I mean it's as simple as that. Money is secondary.

From what I understand, admissions committees are generally not that excited about applicants looking to "re-discover" themselves. Yet, isn't anyone looking at an MBA doing so because he hopes to rediscover himself?

Thinking aloud about what my goals might be:

Maybe strategy consultant, specializing in cost optimization. Years of bootstrapping have given me something of a sixth sense when it comes to costs and cash flows. And maybe one day after paying my dues, I open my own shop.

Alternatively, maybe it's the challenge and competitive aspect of working at a hedge fund that I'd most enjoy. And maybe one day I start my own fund, hire a couple of MBAs, and work out of my downtown apartment office with a laptop.

Speaking candidly, a soft landing in business school, to see what's out there, gain fresh perspective, and reboot, is the essential first step; however, I realize that admissions officers might be skeptical. What's the best way to approach this when writing admissions essays?

2) With regard to school selection, I see your point. From your list, Stern, Kellogg, and Booth sound attractive. What about Sloan and Columbia? (Notice the urban theme.) How many do you suggest one apply to? Is your recommendation to forget H/W/S all together?

Thanks again.

--M

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by MBAApply » Tue May 29, 2012 8:24 am
I strongly suggest you go visit a few of the schools in the fall once they're in session (and apply R2) if you haven't already.

As for the essays, that's not something that can be summed up in a few sentences. A strong set of essays is usually a culmination of many weeks of draft after draft - it's a discovery process, not some "plug and play" formula.

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by meanjonathan » Tue May 29, 2012 9:30 am
What specifically constitutes a 'visit'? Sitting in on classes? What else should I do that I might not have thought of?

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by MBAApply » Tue May 29, 2012 10:10 am
Sit in on classes, and after classes, actually talk to the students off-the-record. Have coffee or lunch with them. Get a sense for what it's like to be an MBA student at these top schools. Because based on what you've written so far, it seems like you don't really know what you're getting yourself into, and no amount of Internet chatter will replace face-to-face interaction with those who are actually in school (and at various schools).

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by meanjonathan » Tue May 29, 2012 11:58 am
Please do not mistake my inquisitiveness for ineptitude. Quite the opposite. I am information gathering, and my inclination is to ask a lot of questions.

Thanks for your perspective.

If you have anything you'd like to add, please let me know. Thanks again.

--M