Significant Life Crossroads...

[jackangel]

dupe.

 

[jnevin]

I'm facing a major life decision soon and I always appreciate the input from (certain) peeps here.

I'm about to graduate and I basically have a choice between two major commitments. I can either go get my MBA (1 year if i stay at UF, 2 year if i go somewhere else) or I can start the business I have been sitting on for 3 years, but only now have the partners/accessible capital resources and investors to start.

Given my GPA, undergrad school,work history, and practice GMAT scores (obviously i need to get the real GMAT done before anything), I feel pretty confident in being able to get into a top 10 MBA program.

On the other hand, me and my good friend (who is now my partner in this venture) sat down last summer and discussed this business.
We basically launched the first phase/entity of this and it's about to open in the next week or two. He spearheaded almost all of this project because i was in school and have been busy as hell, and we agreed that when i graduated we'd launch the 2nd phase (which is our primary way we're going to make income).
I don't want to divulge the business this prematurely,although a few of you already know, but the first entity opening now is to create an initial buzz and brand.

The business idea and model is rock solid, and it's really an under served market. We'd probably need 3-4 locations throughout florida to really make serious bank, but i think that'd be feasible within a few years. This is something that we could eventually launch in dozens of different markets once we grow. We'd be bootstrapping at first to an extent to make the most of our capital, but once we get things going we'll be able to focus more on business development.



So i'm not sure what to do. Obviously i need to take my GMATs first, but i'm very confident i can land in a top 10 program. I'm thinking my scores will be good for 5 years,so i could take them now while i'm still in study mode. If this business doesn't work for some reason, i could still have those scores and go to grad school. But if harvard/stanford grad school came knocking now for example, it might be pretty hard to turn down.

But realistically, this business will mean cutting back personal expenses BIG time and working 14-15 hours a day for awhile. There's also a bunch of stuff i've had to learn that we're using outside people for, and eventually need to be able to do/teach ourselves. The amount of work it would take is almost overwhelming, but if we stuck with it for a few years it could blow up into something huge.


I'm at a stalemate, but fortunately i have some time to think about it, and both are good options. i'll know more when i take my GMATs, but this is all stuff i need to think about now.

School first. i can't stress that enough. Life could be cruising along just fine, or even a little rocky, and you could be one ambien away from scrambling to keep things together for the rest of your life. I think your business idea/ plan is solid as fuck. Just take care of your business first.

 

[chris302001]

where's ariel when you need him

 

[ceo]

IF you don't do the business now, your partner may move on and do it without you. If he succeeded you would forever be "what if'ing" yourself. If it flops you can go do the MBA. MBA probably won't help you much at the business. Business may help you with MBA (as samoth said). Even if business succeeds you can go back and get MBA later. That may actually help you with expansion.

Business, then MBA.

 

[jnevin]

By school first I mean GMAT, just to clarify. But focus on that shit.

 

[shirlene29]

right...school will always be there...ivys and otherwise arent going out of business anytime soon

 

[calveless wonder]

Thanks guys, I appreciate. You really helped me achieve some clarity on this and validated my initial instincts.

Seeing nan's post (which was disagreeing with everyone else and not really valid reasoning) made me also see the reasons I WOULDN'T do the MBA first. That type of safety net afraid to take on challenges thinking is not for me.

PMs coming to the few who requested about the business once I get on my laptop. Replying from my iPhone at the moment.

 

[calveless wonder]

By school first I mean GMAT, just to clarify. But focus on that shit.

You confused me big time. Def GMATs first.

 

[ceo]

PM me about your taco stands rob.

 

[Wulfgar]

PM me about your taco stands rob.

PM me abuout CPK or other eatery bro