F1GMAT: Babson MBA is known for its entrepreneurship. Do you really think you need an MBA to be an entrepreneur? Can an entrepreneur learn entrepreneurship on the job rather than spending 2 years in a program like Babson MBA?
Naveen: My short answer to the question is: No, you don't need an MBA to become an entrepreneur. And if you have a burning desire to start something along with the money to do it, do it now. The money you save by not attending Babson can be immediately invested into your business.
My longer answer would be to consider the Babson MBA and compare it with going to engineering school to become an engineer or to film school to learn filmmaking. Can you learn the without attending these courses? Of course, you can. A great engineer will be a great engineer no matter what his education; so with a filmmaker. But engineering school or film school definitely hone your talent and help you grasp a variety of technical skills in a short course. These skills that you learn will help you a lot in later life and career.
Similar to this model, consider the Babson MBA and its teachings.
Academics
The first year at Babson is divided in to four modules, each lasting between 6 to 10 weeks.
Mod 1 covers creative management in organizations with emphasis on understanding the process of creativity and team work through group activities and exercises within and outside the classroom.
Mod 2 sets the groundwork for assessment of business opportunities by teaching you the regular business frameworks and cross-linking them so that you learn to look at a business case from all angles. For example, you will have a joint marketing and finance class to analyze the potential market and cost for a medical production business or a transport operations business.
Mod 3 is about designing and managing the delivery system to implement the ideas that you developed in Mod 1 and filtered through Mod 2. This period allows you to think effectively about the organizational structure of your proposed business, the technology and operational strategy that you will consider adopting and how you will finance your venture.
Mod 4 (shortest mod at 4 weeks) is about learning to grow the business through a changing global market. Here, you learn to take the business concept you developed through Mods 1 through 3 and factor in conditions from across markets.
Second Year Electives are focused on understanding critical issues related to the setup, growth and scaling of small businesses. They also cover the buying of other businesses and marketing for startups. There are further specialized courses that deal with family businesses, setting up sales teams etc. Basically, all aspects of concern for a businessman are addressed.
Outside class
There are competitions including the Rocket Pitch, business plan competitions, programs including Venture Accelerator and Summer Venture Program that run at Babson and encourage students to pitch ideas, provide office space, mentoring and a very small amount of seed money.
Network
Plenty of students come from business families, some have started their own independent businesses and there are students who come in from the industry as well. Babson has a strong international class (41% international this year) and you are building an understanding of business opportunities and challenges (business structure, regulatory, funding, labor) from around the world. Whether you want to share your next big idea or seek sources of funding or you feel down due to a failed deal, your classmates are of such nature and backgrounds that they constantly coax you to stay positive and guide you to seek the next step. Unlike many other schools, wanting to work for a startup or starting a business isn't considered crazy. It is actively encouraged and helped.
As I mentioned, being in the vicinity of global powerhouses like MIT also provides you an opportunity to network with their engineering students and see what cutting edge technology ideas are being commercialized in transportation, life sciences, logistics and just about any other sphere; perhaps even partner with them on commercializing those ideas.
As you see, Babson provides a student with a combination of academic and professional activities during their time in school. You could easily bypass all these experiences and jump straight in, but the education and experience helps you in many valuable ways. You learn to qualify your decisions with data, explore alternative opportunities or markets you might not have considered and equips you with a strong network of entrepreneurs, investors and mentors for life.
Worth it? You decide :)
F1GMAT: Do you want to break any myth about Babson MBA programs?
Naveen: Yes. I want to break the myth that Babson is a school meant ONLY for entrepreneurs. I would like to do that by pointing out some internship placement scenarios to clear the air and give a real-time perspective:
1. I am an Indian citizen and as of January, I have received an unpaid internship in a career changing industry (transport consulting) with a firm based out of Vienna, Austria. I got it through my own networking efforts (not first or second level, but further out). I will be performing transport research and working to develop partnerships with government agencies to secure funding for the business. The project will go on through the duration of my first year, summer and second year. I am doing this to build industry experience.
I also have had an interview for a major US consortium (EDF Climate Corps - What Fellows Say - EDF Climate Corps - Environmental Defense Fund) which places graduates with firms to determine the value of energy efficiency projects in roles that combine financial analysis and consulting. I received this opportunity through the school (the Babson Energy club brought in this organization; our club President interned with them last year). The career services helped me prepare for the mock interview, helped me craft my message and identified key areas of improvement leading up to the interview.
2. Amazon.com came in for the first time this year. They were brought in by a second year student who interned with them in a very senior role (Sr. Financial Analyst) and received a full-time placement offer at the end of the internship. They were so impressed by the quality of the student (he was part of a team that prepared the results for an earning call that Jeff Bezos himself took) that they have approached Babson students with opportunities for internships in Operations, Finance, General Management.
3. Hasbro interviewed between 12 - 15 students last week. That is 10% of our class! Three have received second round interviews that were completed this week. This was arranged by the school.
4. Endeavor (High-Impact Entrepreneurship | Endeavor Global) interviewed 15 applicants from Babson for international positions. Endeavor connects students with international entrepreneurs and you get to work closely on small scale businesses; skills that you will find helpful if you have entrepreneurial ambitions. Students who interviewed were not only Americans, but also from Chile, Pakistan, India, New Zealand etc.
5. Last week, several (~25) Babson students visited a MIT European career fair and I know some of my friends who interviewed with companies in France, Spain et al.
6. There are second year students who have interned with the Boston Harbor Angels, with venture capital firms and investment banks. Every position depends on what key skills you bring to the table and how well you prepare.
I can add companies including Staples, Ocean Spray, Johnson & Johnson, Fidelity, Athena Health, Liberty Mutual and several others that have interviewed my classmates this year. You will find the school's resources helpful if you do your homework.
As you see, there are enough people (Two year MBA, One year MBA, Evening MBA and Fast Track MBA) who are industry job seekers and Babson provides active support to these people IN ADDITION TO the already existing world-class entrepreneurial environment.
So, if you are thinking "I am not a startup person or I don't have entrepreneurial dreams and I want an industry job", you still have many solid reasons to consider Babson.
Winning MBA Essay Guide - A Complete Guide for M7 and Top 15 MBA Application Essays
F1GMAT's Winning MBA Essay guide will teach you how to transform your essay into a life journey with trials and tribulations that will move the admission team.
+ Over 245 Sample Essays (Read Previews of F1GMAT's Winning MBA Essay Guide Sample Essays here)
+ Top 15 MBA Programs (Harvard, Stanford, Wharton, Columbia, Booth, MIT, Kellogg, Yale, Haas, Darden, INSEAD, LBS, NYU Stern, Tuck, Duke Fuqua, Ross)
+ The Art of Storytelling
+ Leadership Narratives
+ Review Tips
+ Persuasion Strategies
+ The Secret to "unleashing" your unique voice
+ How to prepare and present for the Video Essay
+ How to write about your Strengths
+ How to write about your Weaknesses
+ Leadership Narratives
+ Review Tips
+ Persuasion Strategies
+ The Secret to "unleashing" your unique voice
+ How to prepare and present for the Video Essay
+ How to write about your Strengths
+ How to write about your Weaknesses
Want to try the individual school Essay Guides before upgrading to the Winning MBA Essay Guide? Try below.
F1GMAT's Essay Guides
Harvard MBA Essay Guide (20 Sample Essays)
Growth-Oriented Essay: Curiosity can be seen in many ways. Please share an example of how you have demonstrated curiosity and how that has influenced your growth. (up to 250 words)Example #1: Persistence Narrative
Background Information: The applicant – a design and music talent, shares her journey through several setbacks. She attributes curiosity to her growth.
Curiosity: Philosophy
Curiosity (Explained): Curiosity as a philosophy is tough to translate into a narrative unless you are from the creative industry or your contributions had an influence on a solution or an initiative.
MBA Essay Strategy: I wanted to capture the humanity of the applicant and her influence in music instead of just highlighting how she overcame multiple roadblocks to gain attention as a designer.
Theme: Persistence
Read: Harvard MBA Curiosity Essay – Life Starts at NO (Growth-Oriented HBS MBA Essay Example)Example #2: International Community Building
Background Information: The applicant, a Machine Learning (ML) entrepreneur specializing in healthcare diagnostics, shares how his curiosity to learn other ML algorithms’ evolution in diagnosing Alzheimer’s, cancer, and heart disease transformed his platform into a global community.
MBA Essay Strategy: I wanted to show the applicant’s contributions in diagnostic from 2020 to 2024 by citing two events. Such examples build credibility instead of engagements that were recent. The evolution of the platform from an AI development community to a community for discussing the application of AI in diagnostics is captured through a ‘curiosity’ angle.
Read: Harvard MBA Curiosity Essay – Growth through Collaboration (AI in Healthcare) (Growth-Oriented HBS MBA Essay Example)Example #3: Culture
Background Information: The applicant, an Entrepreneur from India narrates his first entrepreneurial experience – facilitating exchange of stamps in the late 1990s.
Theme: Culture
MBA Essay Strategy: Instead of addressing the biases in the investor community that could turn preachy, I wanted to focus on the applicant and his entrepreneurial journey by citing two entrepreneurial experiences – a platform(club) for stamp collection and his Grocery delivery App.
Read: Harvard MBA Curiosity Essay – The American Dream (Growth-Oriented HBS MBA Essay Example)Example #4: Addiction
Background Information: The applicant – a beneficiary of the foster home system, captures the sacrifice his adopted grandparents made to save him from a path of addiction. Paying it back through early intervention among teenagers and community engagement is the curiosity narrative.
Theme: Addiction
MBA Essay Strategy: My strategy is to capture a gratitude narrative in the first one-third of the essay to demonstrate motivation for starting the venture and dedicate the latter part of the essay to the unique solution
Read: Harvard MBA Curiosity Essay – Drug Addiction and Gaming (Growth-Oriented HBS MBA Essay Example)Example #5: Scarcity
Background Information: The applicant, an education major, recognizes that 70% of all students in Kenya don’t have a computer. The curiosity that drives him to pivot from one solution to another is the growth narrative.
Theme: Innovation
MBA Essay Strategy: Often, innovation is captured with a ‘hero’ narrative where the applicant is the sole originator of an idea. I wanted to break that cliché and include a person from whom the applicant learned to use a concept called ‘scaffolding.’
Read: Harvard MBA Curiosity Essay – Scarcity (Growth-Oriented HBS Essay Example)Example #6: FinTech
Background Information: The applicant captures a vulnerable moment of a beneficiary to compare his journey of side hustle before a technology giant noticed his talent. Although cryptocurrency is not a flavor for the year, capture niches where innovation is still happening.
Theme: Education, Child Welfare
MBA Essay Strategy: Empathizing with a techno solution is tough without a strong backstory around the beneficiary. For the essay, I wanted to clearly establish the beneficiary – Rami, before the applicant narrates the similarities to his journey and finally shares the solution that emerged from his curiosity.
Read: Harvard MBA Curiosity Essay – FinTech as a Tool for Good (Growth-Oriented HBS MBA Essay Example)Example #7: Learning from the best
Background Information: The applicant – a Remote Engineer in the Oil and Gas industry, reflects on a value that has helped her learn from the best regardless of her geographical limitations.
Theme: Learning
MBA Essay Strategy: The effectiveness of the case-study method depends on the assumption that peers in a Harvard MBA class will help elevate your learning experience. For the essay, I have highlighted the applicant’s recognition of this value proposition with three examples.
Read: Harvard MBA Curiosity Essay – Learning from the Best (Growth-Oriented HBS MBA Essay Example)Example #8: Military & Search for IMPACT
Background Information: The most common narrative for US military applicants is to quote 9/11 and the reaction your immediate family had while watching the events unfold. The horrifying moment is captured as a motivation to join the Military. On digging deeper, most applicants would share that their motivations were diverse.
Theme: Career Choice
MBA Essay Strategy: I wanted to quickly highlight that the applicant had the choice of entering any industry. One achievement to demonstrate his curiosity that I shared in the first half is the invention of a game. Since the game is mentioned in the resume and verifiable through search, I didn’t quote the name. By clearly highlighting the person’s curiosity and career options, the family legacy is used as a factor in joining the military.
Read: Harvard MBA Curiosity Essay – Career Choice after a Military Career (Growth-Oriented HBS MBA Essay Example)
Leadership-Focused Essay: What experiences have shaped who you are, how you invest in others, and what kind of leader you want to become? (up to 250 words)Example #9: Small Business Values
Background Information: The applicant - a second-generation Asian American, is familiar with the values of fiscal conservatism, building relationships, and understanding the daily struggles of the community through his family’s department store.
Theme: Customer-Centric
MBA Essay Strategy: The applicant’s role in developing an App for the store is highlighted in the essay at a crucial part of the narrative so that the essay is not all about his father. I have also humanized the journey – by sharing how upset the father was when the revenues fell by 40%. The essay is about the transformation in the applicant’s value from a person chasing productivity and optimization technique to someone who is truly thinking about the customers.
Read: Harvard MBA Leadership Essay – Small Business Values (Leadership-Focused HBS MBA Essay Example)Example #10: Breaking Away from Family Business
Background Information: A unique challenge that applicants whose parents are public figures or CXOs of businesses or entrepreneurs are the pressure to live up to the parent’s standards or milestones. For the leadership narrative, the burden of legacy is established before the narrative addresses his leadership principles.
Theme: Authenticity
MBA Essay Strategy: For the essay, I want to capture an entrepreneur’s journey to rise above his entrepreneur father’s image. But I didn’t want to make the entire essay about this complex dynamics. The narrative is around the applicant’s focus on customers and surrounding with teams who keeps him grounded.
Read: Harvard MBA Leadership Essay – Breaking Away from Family Business(Leadership-Focused HBS MBA Essay Example)Example #11: Creativity and Communication
Background Information: When the overall percentage of users with internet access is 62% in South Africa and the inequality accentuated by the rural and urban divide, the applicant endured the lack of digital infrastructure, and spending close to 22% of the family income on gaining relevant information on schools, global exams, and financial assistance.
Theme: Creativity, Communication
MBA Essay Strategy: The strategy is to share why the applicant values no distraction in a child’s home for optimum education experience. Then I highlight the many roadblocks the applicant’s non-profit faced in receiving fee waiver for their cooperative run ISP.
Read: Harvard MBA Leadership Essay – Non-Profit (Telecom) (Leadership-Focused HBS MBA Essay Example)Example #12: Mental Health
Background Information: The applicant like most didn’t pay much attention to the mental health epidemic until tragedy hit home.
Theme: Communication, Innovation
MBA Essay Strategy: A question we frequently get from applicants is whether they should cite tragedy in the family as a motivation for a venture or a non-profit initiative. As long as you don’t linger too much on the tragedy and offer a balanced narrative, there are no restrictions on leveraging unique stories from your life.
Read: Harvard MBA Leadership Essay – Mental Health (Leadership-Focused HBS MBA Essay Example)Example #13: Trauma, Healing & Finding Authentic Self
Background Information: The applicant narrates the absurdity of war in the narrative about the duties in Kabul, and the trauma. Instead of wallowing in on the horror, the applicant takes what makes military applicants strong and guides unprivileged children build life and leadership skills.
Theme: Resilience
MBA Essay Strategy: Capturing PTSD in an essay, the healing process, and the cues that helped the applicant are too sacred to be shared in a Harvard MBA application essay. However, with the right motivation and narrative arcs, you can capture the essence of your journey without sharing the darkest secrets. That is what I did by merging two stories – the horrors of the war with a non-profit engagement.
Read: Harvard MBA Leadership Essay – Military & PTSD (Leadership-Focused HBS MBA Essay Example)Example #14: Addiction, Setback and Leadership Mantra
Background Information: In this narrative, the applicant captures Peru’s Silver mining boom of 2006. The growth experienced in her father’s business shifted the family’s economic status to a new stratosphere. Through the changing economic and family dynamics, the applicant finds her voice in a unique way, initially to record her unheard voice but later as one of the youngest subject matter experts in mining and commodities.
Theme: Failure
MBA Essay Strategy: For the essay, the strategy is to show how life’s unpredictability is a blessing. By narrating two setback events, the essay demonstrates the applicant’s resilience and her acknowledgment of people who made a comeback possible.
Read: Harvard MBA Leadership Essay – Addiction, Setback and Leadership Mantra (Leadership-Focused HBS MBA Essay Example)Example #15: War, Immigration and Starting Over Again
Background Information: Despite a raging war in Syria, the family of the applicant was unblemished by the chaos. The strategic government assets near the applicant’s house would have made the region an easy target, but it was not. The calmness of her journey is shattered in one event. From the privileges of a cocooned life, the applicant is forced to think about survival, her sister’s future, and her future in the US. The second half of the narrative captures the change that was forced on her.
Theme: Gratitude, Resilience
MBA Essay Strategy: I consciously chose not to start the essay with a dialogue or trauma. Two lines are allocated to set up the narrative before the trauma event.
Read: Harvard MBA Leadership Essay – War, Immigration and Starting Over Again (Leadership-Focused HBS MBA Essay Example)Harvard MBA Business-Minded Essay: Please reflect on how your experiences have influenced your career choices and aspirations and the impact you will have on the businesses, organizations, and communities you plan to serve. (up to 300 words)
Example #16: Creative or Finance
Background Information: The applicant starts the narrative with the origin of her talents. The unbridled enthusiasm receives a reality check when in high school, the applicant’s father has a conversation with her about academics. While the applicant picked up her quant skills, she was reaching over 50,000 loyal fans, and her videos captured 1 million views.
Theme: Passion, Talent
MBA Essay Strategy: Capturing vulnerability is the toughest part for Harvard MBA applicants. For this essay example, I have captured the applicant’s uncertainty about career choice throughout the essay. Here the goal is to show vulnerability in the career choice essay while for leadership and growth essay, I could capture one example each from creative and PE industry respectively to balance the narrative. So don’t follow this example without a strategy.
Read: Harvard MBA Business-Minded Essay – Creative or Finance (Business-Minded HBS MBA Essay Example)- Stanford MBA Essay Guide (24 Sample Essays)
- Columbia MBA Essay Guide (21 Sample Essays)
- Wharton MBA Essay Guide (15 Sample Essays)
- INSEAD MBA Essay Guide (19 Sample Essays)
- Darden MBA Essay Guide (21 Sample Essays)
- Yale SOM MBA Essay Guide (15 Sample Essays)
- Tuck MBA Essay Guide (15 Sample Essays)
- Haas MBA Essay Guide (18 Sample Essays)
- NYU Stern MBA Essay Guide (15 Sample Essays + 6 Examples - Visual Essay)
- LBS MBA Essay Guide (6 Sample Essays)
- MIT Sloan MBA Essay Guide (6 Sample Cover Letters + 3 Sample Video Statement Scripts + 3 Sample Optional Essays)
- Kellogg MBA Essay Guide (11 Sample Essays)
- Chicago Booth MBA Essay Guide (12 Sample Essays)
- Ross MBA Essay Guide (31 Sample Essays)
- Duke Fuqua MBA Essay Guide (10 Sample Essays + Two 25 Random Things Samples)
- Cambridge MBA Essay Guide (12 Sample Essays)
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