Asking for help about application

[qianruS779]

Dear Mr or Ms consultant,

I am in a dilemma so I want to hear some opinions from you.

Last year I began to make some research because I want to become an entrepreneur, and finally I bought a licor store. I have to work after my main full-time work until now. The business has a market price 250000 dollars. Currently I want to design well the space, improve the inventory system, add more non-licor product and train well my staff, so I am pondering if I have to quit my job to do such things. At the same time, this year I want to apply to top MBA programs in the US and focus on topics such as social entrepreneurship and venture capital. Being an entrepreneur gives me a lot of ideas to help "older" people in their retirement and immigrants to settle them down (because I am an immigrant) in a new country.

Therefore I am facing with MBA preparation, business management and full-time work (financial sector) at the same time. I want to quit my job, and as a result i will lose a recommendation letter from my current workplace (it is hard to find a recommendation letter for an entrepreneur). However, if I continue to work I will miss my business and MBA preparation. My question is if quitting the job will hurt my MBA application, and If I quit the job I will ask who can write a recommendation letter for me?

I appreciate very much for any help.

Kindly, Song

[mbamissionjenK]

Hi Song,

Sounds like you are grappling with a lot of challenging, though exciting, decisions! I would say there is no 100% right or wrong choice, but it's hard to fully comment without knowing more about your full professional history, the business, your resume, other admissions factors etc. And when you are applying and how definite that is. Certainly it can be less ideal to quit a job shortly before the application process. But another option might be to wait a bit to apply and focus on your business in the meantime. Feel free to post more info here or to register for one of our free 30 min consultations which includes a look at the resume, at www.mbamission.com/consult, at any point. Good luck to you!

[qianruS779]

Hi Jennifer,

Thank you very much for your response.

I would like to add more personal info.

I lived in China until that I finished my high school. Because of my father`s job, I and my mom had to come to Chile. I majored in Economics with a minor in Business Administration for my undergraduate degree in the best university in Chile (the first place in the generation), and then got a Master degree in Economics in the same university. I worked in the Central bank and the best university in Chile as an economist (professor), and then I turned down to an offer for PhD. Economic in the US because I want to be a well-round person, and studying a MBA degree in a top school in the US makes me very excited. Currently I am working in a big Pension fund company in Chile as a strategist. I appreciate very much for my experience as an entrepreneur. In fact, I have worked for my business as least one year (my family had two businesses previously, and I worked actively with them), and now I want to dedicate myself more time for that. Moreover, I have helped other Chinese entrepreneurs start their businesses and settle them down in Chile, and also supported Chilean entrepreneurs to start their businesses in China. Therefore, I want to work on social entrepreneurship for immigrants, and venture capital.

I speak almost four languages (Chinese - mother tongue, Spanish-fluent, English -fluent and Portuguese-intermediate) and got a lot of scholarship (national and from the University). I think I am fine in my academic part. Furthermore, I have worked a lot of social projects related to exchange of culture since I was in the University.

Quitting my job before the application may be sensitive, because it is hard to explain the working gap, but what I will do is to develop my business with full dedication. According to my story, I want to ask you if you still think the decision will hurt my MBA application. Other question, If the business that the applicants are managing should be very technological, innovative and fashionable? I am managing a licor store with a high profitability.

Kindly, Song

[mbamissionjenK]

Hi Song,

Thanks for the updates! Couple of follow-up q's:

-how many years of full-time work experience, after undergrad, will you have by the time you apply?
-when are you interested in applying?
-what is the reason driving your interest in quitting, is it just solely the desire to focus on your business? For how long would you be doing so before b-school? What is the intent for the business after the MBA/longer-term?

Thanks!

[qianruS779]

Hi Jennifer,

Here are my answers:

1) I have 2-year full-time working experience before the application (I will apply this year 2016): 2 years in the University and Central Bank, and 2-years as a macro strategist in the pension fund company. Also I always worked during my study in the university as a research assistant, a guider, a translator/interpret and a volunteer
2) I will apply the MBA this year 2016 in order to enter to the 2017-class.
3) My reason to quit the job is mainly to develop my business (train well staffs, design space in the store, improve the inventory system and add another type of products); moreover I want to use more time to polish an academic paper with my tutor in order to publish it in a well-known journal (we have finished it, and received feedback from the Quarterly Economic Journal. Currently we do some robust analysis and send it again). Finally I am a mentor for some Chilean and Chinese entrepreneurs to build their businesses. Currently we are in the process that I am helping them investigate the market and orient them some legal procedural to start their businesses. In the past, I did some mentor-ship or volunteer activities in my spare time; However, every time I feel fulfilled when people get what they need through my help. so I want to dedicate myself doing these things. I still have a lot of things to do, but I think these things should have some priority. Before my MBA, I will have 2 or 3 years - experience in my current business, and the total entrepreneur experience should be at least 10 years (I have been working with my family, and because I can handle Spanish better than my parents, I almost managed the most stuffs.); After MBA, I want to focus on social entrepreneurship and venture capital. I am very interested in helping people, especially elders and immigrants, to build their businesses. As we know, technology makes us live more time, and some "elders" want to learn something new and connect themselves again with this society. regarding for immigrants, because of my experience, most of immigrants pay a lot to learn how to make a living in a new country. I want to help both types of group of people.

Maybe I have one question: based on what you said to you, which universities (top 10) are suitable for me?

Let me know if you have more questions

Thank you!

Kindly, Song

[mbamissionjenK]

Thanks for the updates and info Song!

It sounds like you have some excellent entrepreneurial experience and exposure to bring to the class which will be a huge plus.

I don't believe you've shared your GMAT and academic performance unless I missed that?? That is obviously important with regard to admission to top 10 schools. But schools that are strong in entrepreneurship include most of the top 10!! but particularly Stanford, Harvard, MIT, Wharton, Kellogg, and then also schools like Ross, McCombs, Kelley, Haas, Marshall, Babson. There are many factors to consider with regard to choosing a school; For more on choosing schools, check out our free download at: http://info.mbamission.com/Selecting-Yo ... ram-E-Book.

I would still have to advise that quitting your job NOW, a handful of months before application time, is likely a slight detriment.... just in that you have a lot more to explain and it could raise questions. Your experiences outside of work that you describe are all great and will add a lot to your app, but it sounds as though you could still include those even with your full-time role. One idea might be just waiting to quit 6 more months, until after you apply, but still having that time before starting b-school to focus on your business. It's up to you and not impossible if you do quit, but that's just my take on your current situation!

[qianruS779]

Hi Jennifer,

Thank you for your answer, in deed I was looking forward to seeing your updated info five days ago.

I mentioned my academic performance in some part of the previous emails. I went to Chile without knowing any Spanish, but I graduated the first place (main major – Economics and minor major: business administration, the final score: Aprox. 3.6 GPA for the US education system) in my undergraduate study in the best University in Chile – Universidad de Chile, then I did a master in Economics in the same University (Aprox. 3.5 GPA for the US education system). I got several scholarship and awards (in a national level and from university). As for GMAT what I am studying now, because of less time, I am not able to concentrate 100% on the preparation, and I did several times but I am not able to ace more than 700 points. I know that GMAT is a very important factor in the application process, but I have a full-time work, a business, some social projects and GMAT which dispute my time, all which make me very stressed and exhausted.

Your answer makes a lot of sense, but I face several challenges: successful application (starting from GMAT) in the first round, full-time work and business in a good condition. I have had some healthy problem – three disc hernias in my back which make me unable to sit for a while. I am almost sure if the healthy problem is related to those things. I do not see that I have a poor capacity to manage time, because I have been in such situation since I started my study in the University. Currently every day I have to think about those stuffs and come out some good ideas or solutions for problems. Life has been unbalanced absolutely, no sparing time for me or for family and friends. I am scared that I will suffer from a deep depression some day. Therefore, that is the reason why I do not want to bear this situation for more months. Among all things: MBA application is the most important , and then I want to finish all stuffs before my leave which get involved into the commitment with myself, family and friends, and people who trust me. So I have to quit the job which does not provide as much pleasure and fulfillment as other things do.

So if I can present some convincing evidence in my personal statement or in an additional essay, will I avoid the questions – quitting the job before application - raised by the admission according to your experience? As I am pretty sure that my boss will not write well the recommendation letter for me if I decide to quit the job, who may be an adequate person? My academic tutor will provide a letter as I have been worked in an academic area, and the another letter is from a senior economist from the Central Bank. I am thinking about a letter from people whom I have assisted.

Just any case, I am a woman and 30 years old. Song is only my surname.

Best regards, Song

[mbamissionjenK]

Hi there,

It sounds like you are in a very tough life position currently!! Sorry to hear of your challenges and I hope no matter what, that you are able to find a bit more balance and of course your health is the most important thing! There is no absolute right or wrong, and even the admissions process can be fairly subjective, so you'll have to assess your options and decide what makes the most sense for you. Keep in mind there are just 4 months to many R1 deadlines at present, so it's not very long and you're going to be working on essays and recommendations and GMAT prep as you described during those months. IF there's an option that is still do-able to keep the job for those months I would personally lean towards that to maintain that consistency as well as letters of rec etc; if it's just not feasible for you then that is your answer! In terms of 'convincing evidence', well that is the main question right; depends upon how well you explain your story and choices and career path etc.
Schools do tend to prefer letters of rec from professionals who have supervised your work or at least worked closely with you; academic letters are not very common. Sounds like you have solid academic ability, and just need to nail that GMAT and continue doing solid preparation for that, in order to ensure your best possible chances.
Feel free to register for our free consultation option or even hours of consulting time if you think it would be useful at any point! Hoping all goes well ultimately for you!