Uncertain Startup Co-Founder Looking at top schools
Hello,
White/Male/LGBTQ if that matters.
I'm a senior graduating next fall at a top 50 university with a degree in economics. The economics program is ranked in the top 20 of the US. I will be graduating with a GPA around 3.6-3.7 probably closer to the 3.6 side. I want to apply to some top programs in 3-5 years particularly 1)GSB, 2)HBS, 3)Haas and 4)Sloan in that order. My end goal is general partner at a top VC firm ($1+ Billion funds).
Why am I interested in an MBA?
I want to keep my doors open to earning a stable six figure salary after graduation and help applications to top VC funds. I particularly want to build a network in high tech. Which is why the GSB is my first choice.
If I have a successful exit I will not be pursing an MBA as I will be financially stable and will have a large network of VCs to get a job.
In addition to school I have been working at a tech startup for the last 6 months as a man of many hats (head of finance, legal and operations). I work with 3 other co-founders a CTO, CEO, CInfomationO; and a development team of 6 people. I am most likely going to raise VC funding in the next 6-8 months. I am very scared due to the high amount of uncertainty that the startup environment entails. My business could go under as soon as we run out of cash meaning my job has a finite lifeline if I do not raise more funds. My startup has been very successful in the state level startup competitions which is how we are currently funding our operations. We also got accepted to a decent accelerator.
The reason I mention this finite lifeline for my job is that it is my understanding that MBA admissions look at work experience. Typically you need to have quality work experience. I am worried that in the case the startup fails (which is high due to the nature of the industry; I am a realist and understand what I got myself into) I will be unable to get a quality job as I do not know how hirable someone with my work experience has or what roles to even look at. This could happen 3 months after graduation or 2 years after graduation or I could make millions of dollars with an exit.
As for the GMAT I have no clue what I will score, however I will be aiming at the top and will spare no expense in preparation for it.
Some extracurriculars include disc golf, coaching children's soccer, running, hiking, chess, and reading.
What am I asking from you?
What does a failed founder of a startup look like for MBA applications?
Are there any roles that ex-entrepreneurs should look at in case of failure? Could I look at VC firms this early?
How can I improve my application?
Lol you won’t raise any money for a startup if you’re planning to go to B-School in 3-5 years.
Eh, there's plenty of founders out there that know there's a high chance their startup fails eventually, and that's ok. Not every startup is going to change the world and from what I've seen, people in the VC/Tech world see startup failure as a badge of honor.
"If I have a successful exit I will not be pursing an MBA as I will be financially stable and will have a large network of VCs to get a job."
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