Preparing for Battle: The Top 20 Entrepreneurship Programs

Entrepreneurship is about turning challenges into opportunities and successes.

If you’re in Taiwan, and are considering applying to an American MBA program with a focus on entrepreneurship, you’ve got an important challenge ahead of you. You need to find the business school with the best possible entrepreneurship resources that can support you as you embark on the journey of founding your own business in the future. But how do you find the business school that is the ideal academic fit for your interests and passions from half a world away, and possibly without ever visiting the school you want to enroll in before matriculation? If you find yourself in this challenging situation, it’s important to mitigate your risks and. It’s important to learn as much about the “enemy” as you possibly can before “going into battle,” and today we’d like to help you accomplish that.

We’re going to be looking at the top ranked entrepreneurship programs in America, and help you understand all of the information you need to conquer the challenge of finding the right program for yourself.

The Top 20 Ranked Graduate Programs in Entrepreneurship in America*

1. Babson College, Arthur M. Blank Center for Entrepreneurship

2. University of Michigan, Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies

3. Bringham Young University, Rollins Center for Entrepreneurship & Technology

4. Rice University, Jones Graduate School Entrepreneurship Program

5. University of Texas at Austin, Herb Kelleher Center of Entrepreneurship

6. Washington University in St. Louis, Skandalaris Center for Entrepreneurial Studies

7. University of Chicago, Polsky Center for Entrepreneurship

8. University of Virginia, Center for Entrepreneurial Leadership

9. University of Arizona, McGuire Center for Entrepreneurship

10. University of Washington, Center for Innovation and Entrepreneurship

11. University of South Florida, USF Center for Entrepreneurship

12. University of North Carolina at Chapel Hill, Center for Entrepreneurial Studies

13. Temple University, Innovation and Entrepreneurship Institute

14. Oklahoma State University, School of Entrepreneurship

15. University of Utah, Pierre Lasonde Entrepreneur Center

16. Cornell University, Entrepreneurship and Innovation Institute (EII)

17. Depaul University, Entrepreneurship Program

18. Acton School of Business, Acton MBA in Entrepreneurship

19. University of Missouri-Kansas City, UMKC Institute for Entrepreneurship and Innovation

20. University of Louisville, Entrepreneurship MBA

*source: http://www.entrepreneur.com/topcolleges/grad/0.html

As an aspiring Entrepreneur, the task falls upon you to educate yourself as much as possible about the battle ahead. Since picking the right graduate program is one of the most important decisions you’ll have to make in your life, and sets a foundation for success or failure in your future career, it’s truly important to understand which graduate programs in entrepreneurship are the best. We’ve covered the top 20 ranked programs here, and hope that it will help you in your preparation in some small way.

If you would like help with other areas of preparation, or would like some personalized strategy coaching as you fill out your applications, never hesitate to drop me, David, a line at transcendadmissions@gmail.com.

When Grades & Test Scores are Similiar, How do Admissions Staff Choose?

Let’s examine a hypothetical situation. Two students from Taiwan are applying to MBA programs in the United States: Terry, and Sharon. Terry and Sharon both went to NTU and got top grades all through their undergraduate careers. They have both volunteered at the Red Cross and come from upper middle class families. Terry’s father is a professor, and Sharon’s father is an executive at a silicon chip manufacturing company.

Here’s a breakdown of Terry and Sharon’s grades, and scores.

Terry

GPA: 3.7

GMAT: 720

TOEFL: 100

Sharon

GPA: 3.54

GMAT: 730

TOEFL: 101

If Terry and Sharon, who are so similar on paper, are applying to the same school, how will the admissions officers decide between them?

Making the Decision

Admissions officers have a very difficult task. They need to understand the kind of person both Sharon, and Terry are by looking at their paper applications. Obviously, it’s impossible to completely understand the type of person that they are without meeting them in person, but admissions people have to inspect thousands and thousands of applications every year. It would be impossible to meet with everyone in person. So, it is your job to communicate the type of person you are as effectively as possible on paper to help make their decision easier.

Your Motivations

Admissions officers want to understand what motivates you. Why do you want to get an MBA, and will it really help you achieve your career goals? What drives you to get out of bed in the morning, and what would you spend your time doing for free on the weekends and late into the evenings? What passion do you bring to the MBA program? If Sharon is more passionate seeming on paper than Terry is, that will be a point in Sharon’s favor.

Your Character

Admissions officers need to understand how you make decisions, and that you are a moral and ethical person. Obviously, if Terry writes about the time where he made an questionable decision and made lots of money, and Sharon writes about how she choose to make an ethical decision even if it didn’t make her lots of money, this will be a point in Sharon’s favor. Admissions people need to see that you have a long-view of ethics, and that you will consistently make good decisions which will benefit their University brand, and the companies you work with down the road.

How Do You Work in Teams?

MBA programs heavily involve group work, and group projects. You want to be careful to structure your application to emphasize that you work well individually, but also in groups. If Sharon talks about how she prefers to work independently because she can get more work done faster than others, and Terry talks about a time where he lead a group to success by listening to everyone’s input an helping the group make an informed decision, that will be a point in Terry’s favor. It is absolutely important to play up your respect for the group process, and ideally communicate to admissions staff that you are a leader in groups who brings out the best in your team mates.

Conclusion

Admissions staff need to get to know you so that if you are on in front of them when they make a decision, and a Terry or Sharon is in front of them at the same time, they have a compelling reason to choose you. In order to help the staff get to know you, communicate about your passions, motivations, character, and attitude towards team work.

If you’d like to read more freely available content with strategies to optimize your MBA application, please refer to my blog. If you’d like more personalized attention and coaching through the application process, arguably one of the most important applications of your life, please feel free to reach out to me personally at transcendadmissions@gmail.com.

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Summary of 2012 MBA Application Trends

Do you want to apply to an MBA program? You may know that MBA programs are becoming more and more competitive every year, but just how competitive were they in 2011-2012?

The Graduate Management Admission Council (GMAC) conducted a survey this year with 744 programs from 359 business schools in 46 countries. 527 of these were MBA programs, with 24 PhD/DBA Business Doctoral Programs, and 193 specialized Masters programs. The key findings clearly show a rise in applications to MBA programs across the board.

The GMAC's key findings include:

•   51 percent of all graduate management programs reported more applicants than last year, 39 percent reported fewer, and 9 percent reported no change.

•   Specialized master’s programs in fields such as management, accounting, and finance continue to enjoy robust growth. For the fifth straight year, majorities of each program type report more applications than the year before.

•   Fueled by application gains among online and distance offerings, 46 percent of all MBA programs saw improved volumes in 2012, 45 percent saw declines, and 10 percent reported no change. 

•   The trend toward greater internationalization in applicant pools continues, with most program types reporting increased or steady application volume from foreign citizens.

•   The quality of applicant pools remains strong. Some 90 percent of all MBA programs and 94 percent of specialized master’s programs reported that their 2012 applicant pool was more than or as qualified as last year’s applicant pool.

- Source: http://gmac.mediaroom.com/2012-Application-Trends-press-release

As an applicant from Taiwan to international MBA programs, what should be running through your mind when you see numbers like this?

A few things:

It's important to remember that MBA programs prize work experience, and well rounded personalities who will contribute unique value to their community, and student body. MBA programs receive a host of applications every single year from students with perfect scores and grades, all of which tend to blend together. Remember to be thinking about your own unique and global experience.

MBA programs prize diversity. As an international student applying to western MBA programs, you bring unique cultural and social perspective to bear on the program's coursework and social environment. Admissions officers see diversity as a unique point of differentiation which will be attractive to their domestic application pool. When you are applying to MBA programs, remember to emphasize your roots, your cultural background, and your enthusiasm and respect for western style business culture: in the eyes of admissions officers in the west - you are the diversity they prize.

The way you tell your story really matters. As mentioned above - grades and scores are not always the most important factor in the mind of the admissions officer. They want to understand your ethics, your values, your moral conscience. They want to understand that when you graduate and go into the world to become a successful management consultant or executive, that you will make decisions which will lead you to acheive great success, and increase the value of their University's brand. As an applicant from Taiwan, you can emphasize the role of family values and morality in your culture, and communicate to the admissions staff that these values directly translate into your personal philosophy on business, and management.

Conclusion:

Even though the volume of applications for MBA programs have increased this year, and even though all of the numbers indicate that this will be one of the most competitive years for MBA applications ever, you don’t have to despair. What’s most important is to focus on how you emphasize your unique points of differentiation, and how you will bring value to your target school’s community.

Please refer to the catalogue of freely available information and strategies written up on my blog to serve as a reference in your application process. If you would like more individualized help in optimizing your application and crafting your unique story, feel free to reach out to me, David, at transcendadmissions@gmail.com.

Reach, Match, and Safety Schools: Making Your Application Strategy

So, you're a high school student in Taiwan, and you’re applying to undergraduate university programs in the US. But there are so many schools! How do you strategically choose a good spread of schools, optimize your chances for admission, without applying to every school you hope will take you?

There’s a simple strategy. All you have to do is separate, or categorize your list of schools into three broad categories: 1) Reach Schools, 2) Match Schools, and 3) Safety Schools. When you choose one to three schools in each category, you diversify your risk, and ensure the best chance for admission into a school you will be happy at.

Reach Schools

A reach school for some might be the most prestigious schools – the Ivys. Harvard, Princeton, Yale, etc. Reach schools are called “reach” because you have to stretch high to get them, so what a reach school is for Student A might be different for Student B. If you have a high GPA and an SAT score above 2100, the Ivy League schools might be a reach for you. Someone with an SAT around 1900 might set UC Berkeley as their reach school, and a student with an SAT around 1500 might set University of Alabama as a reach school. Depending on your grades, GPA, TOEFL, and extracurriculars, you should apply to at least one reach school.

Match Schools

Match schools are schools that are well within your reach. If a school lists its average SAT scores as 1900 – 2250, and your SAT score is within that range or better, say 1950 – 2400, then that school is a “match school” for you. It means that the school is a good fit for you, and that your grades and scores “match up” well with the average grades and scores of the school. Usually these are good schools that aren’t quite at the Ivy caliber. Schools like Notre Dame, NYU, George Washington University etc.

Safety Schools

Safety schools are schools which are “safe” for you to apply to – schools which you are almost sure to get into. These are often bigger state schools, schools which have very high incentives for international applicants, or schools where your grades and test scores are at the top of, or higher than the average range. Safety schools can still be incredible schools, and give you an amazing higher education experience. Even though you may call a school a “safety school,” you should not think that it’s a sacrifice to attend one. Often times large state schools and smaller liberal arts colleges have amazing student life, and active student bodies, giving you the opportunity to meet with a relatively high number of new friends and future professional contacts.

Conclusion

Apply to at least one school from each category. One reach, match, and safety school each. If you want to apply to more schools than three, apply to two from each category, or two safety, three match, and one reach. By diversifying your risk over a broader portfolio of schools, you give yourself the highest possible chance at getting into an American undergraduate program.

If you have any questions about structuring your application strategy, or how to choose the best schools for you, if you would like guidance for picking out the right reach, match, and safety schools, then feel free to get in touch with me, David, at transcendadmissions@gmail.com.