Applying for an MBA after your business has gone bankrupt does not have to be a weakness. Business schools appreciate innovation and entrepreneurship. The experience of starting and running your own company can be an interesting perspective you can bring to enrich the MBA program. Even the lessons learned from the failed venture can be worthwhile as well. There are some key questions on the minds of the admission boards when evaluating an entrepreneur whose business has failed.
First, they will evaluate the scope of the business (is this someone tinkering with a hobby or is this a real venture?) Then they will assess what you achieved (did you create a product that is being patented/raise funds from investors to expand the business or did the business not take off in the first place?) And finally, they will investigate why the business failed and the lessons you learned from the bankruptcy (are there holes in your skill set that you need to strengthen or did you make glaring mistakes that raise questions about your judgment?)
In fact, you can make a strong case for the need for business school by communicating what skills you lacked and how business school can help prepare you for your next business venture. The other thing to keep in mind if you apply after your start up fails is that the admission board may be concerned that you will jump ship half way into the program to go start another business. They need to be assured that you will have the discipline to commit to completing the entire program.
Besides presenting a successful application as an entrepreneur, you need to consider MBA programs that are highly supportive of people wishing to start their own business. Selecting programs with a strong commitment to entrepreneurship will ensure that you get the right level of support to develop your business ideas for your next firm you plan to start.
Chioma Isiadinso is a former Harvard Business School admissions board member and a former director of admissions at Carnegie Mellon University. She is the CEO of EXPARTUS®, LLC, a global admission consulting company, and the author of The Best Business Schools’ Admissions Secrets. Follow EXPARTUS® Facebook LinkedIn Twitter
Sample Essays + Essay Writing, Review & Editing Tips + 15 School-Specific Tips = Winning MBA Essay Guide
"Pressed against the deadline, I ordered F1GMAT's Winning MBA Essay Guide as their blogs always had something interesting to say. It was by far one of the best decisions I have made in my life. Going through the Essay Guide, I learned the art of storytelling, using various ploys mentioned in the book. Most important one being the “W pattern,” a strategy of information sharing that creates a sense of excitement in the mind of the reader." - MIT Sloan MBA Candidate
Only 1 in 900 gains admission to Harvard MBA program. If you write your essay focused only on your achievements, post-MBA goals, and your pre-MBA experience, you will be among the 899 rejected applicants.
ATTENTION is the secret ingredient. How will you get the attention of the essay reviewer?
You know why parables shared 1000 years ago are still shared among us?
Yes, the art of storytelling has won presidency for Obama, transformed Apple from an unknown start-up to a brand synonymous with Quality, and gained admission for the average MBA Applicant.
F1GMAT's Winning MBA Essay guide will teach you how to transform your essay to an epic life journey with trials and tribulations that will move the admission team.
Who Should Buy The Winning MBA Essay Guide?
If your essay looks too bland, our Winning MBA Essay Guide will show you, with examples, on how to use the elements of Storytelling like Incorporating "The Struggle", Using Emotional connectors, narrating the Journey and the use of Chronology, Vividness and Active Verbs to transform your essays.
If you are stuck in the Writing process, our Winning MBA Essay Guide will show you how to silence the Analytic Mind and overcome mental blocks.
If you feel that the essays are not persuasive, our Winning MBA Essay Guide will teach you how to use the W-Pattern narrative, Contexts, Turning Points and "The Show Don't Tell Approach" to write a Winning MBA Essay.
If you don't have enough leadership experience, our Winning MBA Essay Guide will show you how to highlight non-obvious qualities like Trust, Focus, Listening Skills, Personal Responsibility, Humility, Self-Knowledge, and other secondary traits to prove your leadership.
If you don't know how to review your essays, our Winning MBA Essay Guide will demonstrate how to improve readability with the power of iteration, and maintain your original voice by removing review biases.
Winning MBA Essay Guide Includes
+Harvard MBA Essay Tips (2019 Entering Class)
Sample MBA Essay – Gratitude & Giving Back (319 Words)
Sample MBA Essay – Entrepreneurship (Influence of Childhood) (401 Words)
Sample Harvard MBA Essay - Volunteering (Mental Health Awareness) (774 Words)
+ Stanford MBA Essay Tips (2019 Entering Class)
Sample Why Stanford MBA Essay (Consulting)(399 words)
Sample Why Stanford MBA Essay (Tech Entrepreneur) (390 words)
Sample Booth MBA Essay #2: Leadership experience (Teach for America)(640 Words)
Sample Columbia MBA Essay 2: New York for Marketing Professionals (244 Words)
Sample Columbia MBA Essay #3 - Team Failure (Marketing Lead) (242 Words)
Sample Columbia MBA Essay #3 - Team Failure (Technology) (248 Words)
Sample Columbia MBA Essay #3 - Team Failure (Pharma) (244 Words)
+ MIT Sloan MBA Essay Tips (2019 Entering Class)
Personality Type (Accepted MIT Sloan Students)
Cover Letter Checklist
Sample Essay 3: Extra-Curricular and How enriched you are
+ Haas MBA Essay Tips (2018 Entering Class)
Sample MBA Essay: Non-Profit
Sample MBA Essay: Technology
Sample MBA Essay: Marketing
Sample MBA Essay: Getting Fired
Sample MBA Essay: Diverse and Inclusive Culture
Sample MBA Essay: Leadership
Sample MBA Essay: Post-MBA Goal & How Pre-MBA Experience will help
+ Yale SOM MBA Essay Tips (2019 Entering Class)
Sample Yale SOM MBA Essay: Business Development (Mobile Start-Up)(486 Words)
Sample Yale SOM MBA Essay: Investment Banking (IB)(404 Words)
Sample Yale SOM MBA Essay: Consulting (442 Words)
Sample Yale SOM MBA Essay: Technology (452 Words)
Sample Yale SOM MBA Essay: Marketing (492 Words)
Sample Yale SOM MBA Essay: Entrepreneurship (497 Words)
+ Ross MBA Essay Tips (2019 Entering Class)
Sample MBA Essay: Finance Professional who was a former member of a rock band (96 Words)
Sample MBA Essay: Marketing Professional with a hidden talent to do Impression (100 Words)
Sample MBA Essay: Life Philosophy through the prism of an Entrepreneurial failure (94 Words)
Sample MBA Essay: Consulting for a Pharma Giant (Made a Difference) (91 Words)
Sample MBA Essay: Three-Level Sanitation Campaign (100 Words)
Sample MBA Essay: Water Conservation Kit (99 Words)
Sample MBA Essay: Losing client (100 Words)
Sample MBA Essay: Misreading Market Conditions (93 Words)
Sample MBA Essay: Strategic Planning vs. Tactical Dominance in Chess (97 Words)
Sample MBA Essay: Out of my comfort zone(extra-curricular) (93 Words)
Sample MBA Essay: Out of my comfort zone (Daily Science Show) (99 Words)
Sample MBA Essay: Simplifying Operations for Manufacturing (extra-curricular) (90 Words)
Sample MBA Essay: I am aware that I am different (Leadership and Culture) (98 Words)
Sample MBA Essay: I am aware that I am different (Technology Project and Last-minute change) (98 Words)
Sample MBA Essay: I am aware that I am different (Making Business metrics relevant to a Creative team) (91 Words)
Sample MBA Essay: I find it Challenging when People (Timidity)(98 Words)
Sample MBA Essay: I find it Challenging when People (Laziness)(100 Words)
Sample MBA Essay: I find it Challenging when People (Pessimism) (96 Words)
Sample Essay – Short-term Goals and why the goal is the right choice for you (Technology to Marketing)(299 Words)
+ London Business School MBA Essay Tips (2019 Entering Class)
London as the Financial Hub
London as the Technology Hub
London as the Consulting Hub
Sample LBS MBA Essay (A Career Switcher from Hospitality to Consulting) (499 Words)
Sample Short-term Goals Essay – Technology to Consulting (100 Words)
Sample Long-term Goals Essay – Consulting for Government (100 Words)
Sample Long-term Goals Essay – Plan B (89 Words)
Framework for Answering the Duke Fuqua 25 Random Things
Sample Duke Fuqua Essay: The Fuqua community and you (Max 2 Pages)
+ NYU Stern MBA Essay Tips (2019 Entering Class)
Sample NYU Stern Essay 1: Goals (498 Words) (Finance)
5 Examples with Images
7 Professional Gains
Sample Wharton MBA Essay 1: Gain professionally from the Wharton MBA? (473 words)
Sample Wharton MBA Essay #2: Math Tutoring and Experimental music’s value (388 Words)
+ The Art of Storytelling
+ Leadership Narratives
+ Review Tips
+ Persuasion Strategies
+ The Secret to "unleashing" your unique voice
+ How to write about your Strengths
+ How to write about your Weaknesses