Business Consulting San Diego

Linda asks…

Getting an MBA from a regular state university?

I am interested in earning an MBA from San Diego State or San Francisco State. The 25th-75th GMAT for SDSU is 570/650 and the average GPA is a 3.3. The 25th-75th GMAT for SFSU is 540/620 and the average GPA is a 3.4 according to Princeton Reviews. Both are rated “moderately difficult” to get into. I plan to either specialize in Finance or Accounting.

I graduated with a degree in Psychology (finished with a 3.36) and have found it so difficult to secure satisfying employment. There are virtually no professional jobs for Psychology graduates. Will an MBA be the pickup that I need to get a secure job?

AustinBusinessConsulting answers:

Some MBA programs accept students right out of college if they have good grades and a high GMAT score. Your GPA is just average for MBA applicants and you don’t give your GMAT score, but it should be well above 600 to qualify. Some MBA programs are designed specifically for new college graduates without work experience. But in those programs you don’t get the benefit of learning from other students who have work experience. A lot of valuable learning takes place through class interaction. Also when you graduate your job offers will be about the same as a business undergraduate gets because you have no work experience, and you’ve been two years out of your undergraduate field so it’s hard to get work in that area. You get a lot more value from a graduate degree if you have a few years of work experience before you start it.

MBA programs prefer students with 2-4 years work experience after the first degree. It does not have to be what you call “satisfying employment.” The job has to show that you can handle responsibilities, make decisions, satisfy your supervisors and customers, and in general understand the work environment. You should advance in the job and not remain at the same level after several years.

With a degree in psychology, you should be able to find work that uses your background. Have you looked for work as a car salesman, retail store employee, or retirement home assistant? There may be jobs in the service industry. Thousands of people are unemployed right now, but many businesses are looking for help. There is nothing shameful in working for a minimum wage. You need work experience for the MBA, so your goal should be to get some.

Consult the Official MBA Guide. It’s a comprehensive free public service with more than 2,000 MBA programs listed worldwide. It allows you to search for programs by location (US, Europe, Far East, etc.), by concentration (finance, marketing, aviation management, health management, accounting, etc.), by type of program (full-time, distance learning, part-time, executive, and accelerated), and by listing your own criteria and preferences to get a list of universities that satisfy your needs. Schools report their accreditation status, tuition cost, number of students, class sizes, program length, and a lot of other data. Schools provide data on entrance requirements, program costs, program characteristics, joint degrees, and much more. You can use the Guide to contact schools of your choice, examine their data, visit their web site, and send them pre applications. You can see lists of top 40 schools ranked by starting salaries of graduates, GMAT scores, and other criteria.

Helen asks…

Is there a loan I can apply as first-time business owner that offer from government or state of Calfironia?

Hi all,

I have question regarding to startup a business (maybe a fast food restaurant, around 100k – 150k). Since this is my first startup business, my first question is money. I wonder if there loan from government or state that I can qualify as the first-time business owner? If there is loan available for fist-time business owner, do I have to be solo owner to qualify or I can be partner with friends and still qualify for the loan? BTW, I plan to have business in southern California.

Thanks in advanced,

JL

AustinBusinessConsulting answers:

I have not heard of “first time business owner” loans, but SBA can lead you to low-cost loans that you can check

You can check with SBA http://www.sba.gov . Read SBA’s document “CREDIT FACTORS A POTENTIAL BORROWER SHOULD KNOW” http://www.sba.gov/financing/preparation/qualify.html

Given that this is your first foray into entrepreneurship, I suggest you consult with your local Small Business Development Center. Part of the assistance they can give you is to help you find low cost loans and financing for your business. In many cases, they even help in preparing the loan application documents.

SBDC Los Angeles
California – Los Angeles Region SBDC
Ms. Sheneui Sloan, Interim Lead Center Director
LONG BEACH COMMUNITY COLLEGE DISTRICT
3950 Paramount Boulevard, Ste 101
Lakewood, CA 90712
Phone: 562-938-5004
Fax: 562-938-5030
E-Mail: ssloan@lbcc.edu
Website: http://www.lasbdcnet.org

SBDC San Diego
California – San Diego SBDC
Ms. Debbie P. Trujillo, Regional Director
SOUTHWESTERN COMMUNITY COLLEGE DISTRICT
900 Otey Lakes Road
Chula Vista, CA 91910
Phone: 619-482-6388
Fax: 619-482-6402
E-Mail: dtrujillo@swc.cc.ca.us
Website: http://www.sbditc.org

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