Would starting a business help me to get into management consulting ?
Hi, I was just wondering if starting my own ecommerce business would boost my chances of getting into a top tier management consulting firm assuming that I'm set on the case studies and other aspects of recruitment. I have asset management, investment banking and corporate strategy at a top tech firm experience on my resume. Also a good GPA. thanks so much.
No, although management consulting experience would help you start a business.
It shows initiative but at this point (since you already have work experience) it probably won't help a whole lot. The reason I say this is because it will take months to get something off the ground that's even worth sharing. If they're interested in that aspect of your application they're going to ask what you took away from it, challenges you faced, etc.
However, if you have a specific idea in mind that you're truly interested in, it's definitely worth pursuing in your free time. If you're trying to start an e-commerce business just to start one then I'd say it's not a good idea.
ya thanks. but what I can do beside school/work experience to stand out ?
Take on leadership positions at your business school. The biggest thing in your situation is going to be networking so reach out to people on LinkedIn from your school or attend some networking events in your area.
By all means, if you have a unique idea for an online business then go for it but you should have a unique message. Don't sell t-shirts or dropship.
Starting a business will give you insight about how to manage and run a business that will benefit you in near future. For a management consulting you need various consulting skillset to be successful in consulting.
It's interesting. Someone I know started about 2-3 startups whilst still being an undergrad, he was already an excellent student both academically and experience wise. His ideas were also pretty damn solid, nothing spectacular, but you knew he wasn't doing it simply for the sake of doing it. Anyway it rounded him as an applicant, as in his case it confirmed that he was a monster when it came to time management skills. He ended up landing offers at MBB, which he declined.
How was he able to manage time between startups and other activities ? I assume starting a startup is pretty time consuming.
The beauty of attending a target is that you're surrounded by equally if not more talented people. He simply shared the workload across a few individuals. Also, he was on an accounting/finance degree so although challenging, it didn't have the same workload as a hard science programme like say physics, and so he ended up having a bit more free time than someone like me. But make no mistakes, he worked his butt off.
As a business owner who's "been there and done that" , actually still doing that, you don't start a business to get to another job. You start a business to build a successful business. Once you do that, you'll likely find no desire to work for someone else or give up control of your time.
ya but I wanted to do it for the experience, I'm not even sure if my first couple of businesses would even become successful. lol
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