Get Your MBA House In Order
In the next couple of weeks, I will be putting my house on the market for sale. The house isn’t very big, but of course we’ve managed to accumulate a lot of things over the years. So my dearest aunt is spending a week with us to clear out the clutter and spruce up the place. Day one was focused on sorting, shredding and filing papers, while day two was spent in the basement, cleaning up and determining what items I will keep and what I will discard. Later this morning I’m off to the city dump and goodwill to ditch the stuff I no longer need and then I’ll head to Home Depot to make some improvement on what I still have.
Applying to business school is a lot like selling a home. You must put your best product forward to get offers of admission. Before listing anything on the market or submitting your MBA applications, you have to get your house in order or else no one will buy.
1. Understand What a Typical Buyer Wants
I’ve owned a number of houses over the years and have found that while buyers are different, there are some standard expectations in the real estate market. The same holds true for business schools. They are unique and look for different qualities in candidates, but overall there are standard practices and expectations of applicants. Talk to admissions officers (buyers) and current students (previous sellers) to understand the application process.
2. Sort Through Your Stuff
When they decide to apply to business school, lots of candidates will just jump right in to the process. They might immediately sign-up for a GMAT prep class or register for a school’s admissions reception. That’s like buying new lamp for the den without first determining if you already have something in your house that will fit in that corner. Before you start updating and adding to your MBA application profile, take stock of where you currently are – know what you are working with. What are your strengths – what will the admissions committee be excited to see in your background? What are your areas of development? Are these items that you can shred or discard or will you have to convince the admissions committee to overlook those blemishes? Sorting through your life will allow you to make a thorough to-do list and an MBA application plan.
3. Address the Structural Issues First
Once you have a plan, address any structural issues first. You want to have a strong foundation and all of the major systems to be in good working order. This starts with your academic readiness for business school. You must show the buyer that you can handle the academic and quantitative rigor of business school – that your foundation is solid. The GMAT is one way to do that, and you may also need to take additional coursework. The major systems of your house include your career potential and your leadership potential. Does the plumbing work? And is it robust enough to accommodate an additional bathroom (new MBA relationships) and upgraded kitchen (new MBA skills and knowledge)?
4. Add Cosmetic Updates, If You Have Time
Some may disagree with me, but I think many candidates spend too much time on “cosmetic updates” in the MBA application process. If the roof leaks, I don’t care that the outside of the house is freshly painted. If you have not shown that you are academically prepared and that you have tremendous potential for future career and leadership success, it doesn’t really matter that you are personable and interesting. Focus on the GMAT and on excelling at work to get strong recommendations. You will have time later to build relationships with admissions officers and other school representatives and write eloquent essays – these are important cosmetic updates, but only matter if you’ve already got a strong foundation.
