Start-up work helps getting top MBA course

Many of the top global MBA programmes are trying to diversify their class profiles, moving away from solely admitting students with traditional finance, banking and consulting backgrounds. Professional profiles that have start-up experience give admissions committees significant insight into the problems that you are truly passionate about solving, your creativity and penchant for risk-taking, and your gravitas in tough real-life situations.
The conversation around how beneficial start-up experience is for admission to a top MBA program has gained significant traction in public debate. Here are a few parameters to keep in mind while trying to choose whether the start-up route is best for you, and how to position the experience in your business school application:

1. What is your growth trajectory within your current role and organisation? 

If you are in a large company where there is little room for upward growth, and even lateral shifts are not on the horizon, taking a risk and switching to a leadership position in a start-up is probably a good idea. You are likely to have a young, diverse set of co-workers, and will be operating in much more collaborative and leaner working conditions. The environment is fast-paced and high-pressure, but promises a steeper learning curve and there is a chance for greater reward.

2. Does it matter which start-up I approach? 

Selecting the right opportunity is very important.  Do not look at your start-up experience as a stopgap until you begin B-School.  Do your homework.  Research the team – not only the founders but all the other members; within a smaller set-up, each employee makes a significant contribution towards the growth of the company.  If you are not convinced by the team or the value proposition, you will not be able to shine.

3. What is your impact at the start-up? 

Admissions committees want to know about how you have contributed to the organization, and how it has impacted the organization as well as your personal and professional growth. They gauge your management and leadership skills through the impact of your contributions. They gauge your management and leadership potential through your ability to articulate your decision-making processes, as well as learnings from your successes and failures.

4. Does your start-up experience align with your career goals?

 A start-up experience for the sake of getting start-up experience will not help with admission. You need to be able to clearly articulate how this experience influences your career goals and what you want to get out of the MBA programme. You should also be able to articulate how you will leverage this experience in and outside class, whether it is towards case discussions or through mentoring at the campus entrepreneurship lab. 
To build the best story arc, start thinking about your short- and long-term career goals at least two years before you think of applying to business school.

5. Does start-up experience help even if your start-up fails?

 Even a failed start-up experience can be a strength, as long as you can show how you learned from it. You must be able to articulate your maturity and heightened perspective gained through learning from your mistakes and the mistakes of others. Business schools realise that regardless of whether the start-ups failed or survived, you are rich in experience, knowledge and bring tremendous learnings to their classroom.

Start-up experience can add tremendous value to your MBA applications.  Working at a start-up allows you to wear many hats and build on a broad range of skill sets. Each applicant will have their own stories to share relating to funding, risk-taking, roadblocks, innovation, leadership, success, and failure.  However, it’s important that your experiences support your goals and aspirations and showcase your strengths. 

(The author is Founder and CEO, ReachIvy.)