Don’t Worry, Rejection Is Not the End of Your B School Dream

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Dan Bauer July 28, 2014

Here are the 6 key questions to ask so you can achieve admissions success next time.

In this course, participants learn core principles, concepts, and methods of continuous improvement and explore the history of continuous improvement efforts. In a series of lectures, Master Black Belt in Six Sigma Shane Wentz, Ph.D., enables learners to enhance, optimize, and stabilize business processes and to augment quality control through varied methodologies. Participants gain the skills and knowledge to reimagine internal processes, engage in advanced problem-solving, and empower employees. The course covers high-level foundational principles of Lean, Six Sigma, and DMAIC processes before diving deep into Lean Six Sigma methods. Learners will analyze the tools of process mapping, Kaizen (a continuous improvement method/tool deemed a prerequisite for Lean transformation success), Lean (a continuous improvement philosophy that emphasizes streamlined workflows and reducing waste), and the process improvement methodology driving DMAIC: Define, Measure, Analyze, Improve, and Control.

Entrepreneurs fostering new ventures outside of well-developed entrepreneurial ecosystems like Silicon Valley face significant challenges. These markets are unlike Silicon Valley, and they will likely remain so. That doesn't mean they can't nurture and sustain new businesses. In transitioning markets that lack abundant private sector financing, creative approaches from government officials, donors, and business leaders can fill the void to support entrepreneurial activity. Northeast Ohio (where Cleveland and Case Western Reserve University are located) has become a laboratory for such innovative solutions. During our time together in this course, we will explore some of these creative approaches to promoting regional entrepreneurship. Northeast Ohio has seen a massive infusion of government and donor resources for over ten years. In that time, Northeast Ohio has promoted regional development (including job creation and follow-on funding) through alternative methods of financing startups. It has not been easy. The region has made progress, but it remains to be seen whether it has struck upon an enduring formula. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government policymakers and donors typically seek quicker returns on their support programs, which makes long-term support for entrepreneurship challenging. This course includes case studies and first-person testimonials from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs discovered and procured resources from various programs and intermediary organizations. You will hear from business people still in the process of developing their companies as well as those whose ventures have flourished. Our focus will extend beyond Cleveland to selected markets around the world, including Greece, Vietnam, Tunisia, Argentina, Rwanda and China. You will learn about international incentives and other supports available to developing startups and small businesses across the globe. This course examines how different communities around the world approach implementing strategies and methods to support businesses. I will ask you to reflect on how to apply the principles we learn to growing entrepreneurship where you live. The social interactive features of the online platform will enable students from around the world to share ideas and learn from one another. Most MOOCs rebroadcast professors’ lectures; this course is different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length. They have more of the feel of an engaging documentary than a static classroom setting. ## __What type of person takes the *Beyond Silicon Valley* course?__ - Active and aspiring businesspeople in communities looking to initiate new startup ecosystems or bolster existing ones - Current and prospective entrepreneurs who want to learn about funding sources, risk management, and the lifecycle of startups - Professionals who work in government agencies, nongovernmental organizations, philanthropic institutions, and various private funds that fund startups - Anyone curious about how to create and grow startup ecosystems outside the major tech hubs - The principles Beyond Silicon Valley teaches have been drawn from and applied to startups worldwide, from small villages to megalopolises. You'll study success stories spanning the globe from Vietnam to Kosovo to Botswana. ## __What will you learn in *Beyond Silicon Valley*?__ - How and where startups can find funding to get their businesses off the ground - What role government can play in encouraging startups and a healthy startup ecosystem - How anchor institutions such as universities and healthcare systems participate in startup ecosystems - How nongovernmental organizations support startups - How to raise funds from venture capitalists, angel investors, and accelerators - How to navigate challenging periods in the startup lifecycle - The importance of mentoring in successful startups

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There are only two possible outcomes for MBA applicants: admission or rejection. (If you’re waitlisted, that’s an interim phase to be addressed. But more on that later.)

The good news is that the latter of those two outcomes need not be permanent.

It’s important to not let rejection set you back. Use it as a learning experience rather than letting it ruin your confidence. Meredith Ruble, CFO of The Noodle Companies.

Within months of being rejected, you can be right back in the game with a reapplication to the same school and/or a fresh app to another program. However, it’s essential to do some analysis to make sure that you’re maximizing your chances for admission the next time.

An immediate obstacle and frustration is that rejected applicants rarely receive any feedback from the admissions committee. The “official" reason is that there is not enough time for the adcom to debrief every disappointed applicant, so they don’t do it for anyone. However, the unstated reason is that the schools are reluctant to provide specific insights that would reveal too much about their overall decision process or imply that if the rejected applicant does “X" then he or she will be admitted the next time. No one is ever told “don’t reapply."

So, most rejected applicants are left to ponder the following six questions on their own:

Was I realistic in targeting the schools to which I applied?
Did I showcase my strengths and mitigate my weaknesses?
Did I apply before my candidacy was truly competitive?
Did I explain what the school and other students would gain by admitting me this year?
Did I convince them I would accept their offer and enroll if offered admission?
What more or different could I have done to improve my chances?

Since most applicants are not experienced in the admissions process, those questions can be very difficult to answer with certainty. Even speaking with current students and alumni is of little value since their understanding of what it takes to gain admission is very limited. The fact is that they really don’t know why they were admitted to some schools and not to others.

That’s why The MBA Exchange has developed a comprehensive “ding analysis" that thoroughly examines rejected applications and considers the results of our 3,500 past clients over 18 years. They know which profiles have been admitted and which have been rejected at each of the leading schools. They use this background to address all of the key questions that can help reapplicants improve their chances for success the second time around.

So, if your first attempts at achieving MBA admission resulted in rejection, there’s no need to assume that you can’t or won’t achieve a better outcome. Understanding exactly what you did right, what you did wrong, and what you can do to improve your candidacy is the next move.