<p>I read that most people who applied to Wharton had started their own businesses and such. It sounds pretty interesting… what kinds of businesses do you guys have? How did you start them?</p>
<p>No. You don't have to start a business...I didn't have a business, and I know plenty of kids that have gotten in without starting their own businesses. You just have to show you are dedicated to something that could be expanded to be a life long committement to a business career.</p>
<p>Planning on starting a fund. Have my own cash in the fund and also take part of profits. My friend and I are also thinking about starting a film reel business but i cannot give more insight on this. </p>
<p>You should NEVER start a business with the idea of just getting into Wharton. Primary objective of a business is to make cash and not to put something on your college resume. You need to make plans, have innovative ideas, and of course make money which should be your primary objective. Putting in on a college app is just a side benefit.</p>
<p>Making a business is the easiest thing in the world, but making a real profit is not so easy.</p>
<p>i second that. One of my friends thought he could start a profitable business just by reading about it online. He created a hosting company for webpages. Didn't market, didnt have connections ready before hand, didn't ask for my help or anyone else for that matter, and spent too much on irrelevant stuff. Badly beaten. Loss amounted to about 5000 bucks. However, my friend and I started three Counterstrike clans, started four servers, had 106 clan members at the peak paying 20 bucks a month. The servers were old computers I upgraded using 500 bucks and ran it from home, plus had 200 bucks for internet a month. Total profit amounted about 1700-1800 a month. Kept business up for 5 months and then stopped. I think he still runs a server and makes a couple of hundred change a month. </p>
<p>So lessons of the story is:</p>
<p>A. Dont rush into a business and have a solid plan.
B. Ask for help from people who have knowledge on the subject.
C. Choose your partners carefully.
D. If you fail stop crying and try again. Business skills take time to develop and you are bound to have a few hiccups along the way.</p>
<p>nice mahras....i made websites...that was my business....i didnt do too many though cuz im lazy...i had no operating costs, so every site i made was for 100% profit....it wasnt hard, but i would NOT recommend starting a business just to get in - itll be fairly obvious....anyone can start a business (takes 2 hrs to fill out gov stuff and webhosting stuff if u want a site), so dont make yourself look like a fool by only starting it for college</p>
<p>I had a (very) small business, but I guess I'm still sort of the exception to the rule because the adcoms didn't know about it.
Some people think its unethical, so I didn't talk about it on my app...
I did ticket scalping on the side for 3+ years. I've been pretty lucky. Made $150 (on average) off each pair I bought, sold maybe 20-30 pairs in that time.
The goal was never to make a huge profit. I just needed to pay for all the tickets I bought/buy for my own use (which was/has been/will be a LOT).</p>
<p>Well scalping is illegal I think... anyway I didn't have a business nor really ever thought of starting one (accepted @ wharton & college) anyway I don't think you need one. There's a lot more important stuff to concentrate on in HS.</p>
<p>actually why not talk about business? My trading, past businesses, and hopefully the fund is an extra curricular. I spend quite bit of my day on business so why not include it. There is nothing at all unethical about it.<br>
Start a business with the goal of making money. Think about incorporating college later.</p>
<p>It's not illegal in MOST states, actually. </p>
<p>I didn't talk about it because (a) the legality is not commonly understood and (b) people have different views on it regardless. I was advised (by my college counselor) that it wasn't a risk worth taking. Instead, I alluded to it in the short answer question.</p>
<p>In PA there are resale prices at like percentage limitations.</p>
<p>Thanks guys!</p>