The MBA application process isn't cheap. You should set aside almost $6,000 to prepare for the process. At the end of the day, the investment is small. In most cases, your salary will almost double after business school. Download this Excel document to craft your own budget.

As many of you already know, I've never drank alcohol. Some people very close to me have been affected by alcoholism and I see some of my friends exhibiting alcoholic patterns. Not good. Anyway, I've seen how Alcoholics Anonymous has helped some people dear to me recover and I believe that it is the best form of personal development to date. I can't think of another space where people of all different cultures, ages, and classes come together regularly to help each other achieve their goals.

Last week I attended my first Alcoholics Anonymous meeting. I don't think you have to be a drinker to be an alcoholic in the same way that a person who has cancer but doesn't know that they have cancer is still a cancer victim. Since it's an anonymous space, I won't say much expect that the combination of community, storytelling, and celebration is amazing.

One of my goals in life is to end the NEED for AA (not AA itself) for our generation by creating healthy spaces for millennials to find community, share their stories, celebrate life. Every month I host potlucks at my house and that's exactly what we do. It's so simple. I don't get why "happy hours" get celebrated but Alcoholics Anonymous get stigmatized when it's spaces like happy hour that lead people to AA. Happy hour doesn't live up to its name.

I also wanted to share that I found a non-alcoholic wine made by J. Lohrs called ARIEL. What's crazy is that Steve Lohrs, one of the owners, lived next door to me when I was in Palo Alto and we shared a bottle over dinner. As you can see from the label above, it "contains less than one half of one percent alcohol by volume" so I guess I can't say that I've never drank any more.

Ultimate Goal

To be admitted to a top-tier business school

18-Month Objectives

1. Increase work experience
2. Craft a future vision
3. Develop business school goals (intellectual, social, and financial)

Action Items

Programs for Minorities
[] Apply to MLT's MBA Prep Program
[] Research the Consortium
[] Research MBA Jump Start
[] Research the Riordan Program Fellows Program

GMAT
[] Buy a GMAT book
[] Find a GMAT course or instructor

Prepare
[] Find a partner for the process
[] Develop a budget for the business school application process
[] Revise your resume to reflect how you want it to look 2 years from now
[] Develop an 18-month calendar

Network
[] Arrange a campus and classroom visit at your local campus even if you know you don't want to go there
[] Interview 3 or more people who have been to business school

When it came to choosing a school for undergrad, I didn't do much research. The only schools I really knew of were the ones that were good in sports. Luckily, I enjoyed my undergraduate experience at UCLA, but when it came to choosing a business school, I took things more seriously.

I wanted to find a school that "fit" and would set me up to achieve my long-term goals through its curriculum, connections, and community. Stanford, UCLA, Michigan, and USC "fit" me and I ended up going to Stanford GSB.

Though useful, Businessweek.com doesn't organize its information in a way that makes it easy to compare schools. Click here to download a chart that compares MLT's Business School Partners on the following criteria so that you can find the schools that "fit" you.

Criteria:

• Demographics
• Diversity
• GMAT
• Work Experience
• Age
• Faculty
• Class Size
• Joint Programs
• Alumni
• Salary
• Cost

Click here to download the chart and get started on your business school research today!

When choosing between schools, a lot of people look at average GMAT scores, incoming class GPAs, and other statistics that can be found on the schools' websites. Most of that data is only correlative. It doesn't tell you the value add of the institution; it only tells you the type of candidate that the school attracts.

The best way to choose a school for fit is look at what its alumni are doing. This is the stuff that you can't find on the website. If I were you, I would recommend following this 3 step process:

1. Identify where you want to be post-business school and then find the top 5 leaders in that industry
2. Conduct research on each individual and map out their academic and professional paths
3. Look for common themes and trends in their paths and then choose your school accordingly

Alumni achievement is number one indicator of a school's value add. If business school is a launching pad for your next career move, then find out which school has launch leaders into the highest ranks of the industry that you want to excel in. Add this kind of research to your essays and you're sure to score points. Alumni achievement is perhaps the most compelling answer to 'why' you want to go to a particular school, but is the least used because it is the hardest information to find.

1. Using the Edit > Replace function

Don't use Microsoft Word's edit > replace function to replace the school name and try to use one school's essays for another school. Admission officers know each other's questions.

2. Not answering the essay question

Stanford's key essay is "What matters to you most AND why?" Make sure that you answer the 'why' part and not just the 'what matters to you most part'.

3. Embellishing

Don't use use vocabulary words that you've never used before in your essays. Also know that admissions officers do thorough background checks and will find out if you've exaggerated the truth too much.

4. Misspellings

Spell check is free. Use it! That may have been acceptable when typewriters were in style, but not in the year 2008. Whereas GMAT and GPA can be affected by a lot of external force (ie bad semester, sick on test day), essays are the portion of your application that you have the most control over and the most time to offer, therefore, they should be perfect.

5. Incomplete applications

Make sure that you answer every question. Though most application systems won't allow you submit an incomplete application, a lot of people don't read the questions correctly, therefore, they answer it incorrectly and thus the application is incomplete. An example is referencing your uploaded resume (ie "See my resume") on the online portion of the application when it specifically asks you to submit your top 3 achievements at your last job.

6. Underestimate the online application

All applications usually have 6 parts: GMAT scores, online application, essays, resume, transcripts, and letters of recommendation. The online application isn't just your name, address, and login information. It requires more time and thought than you think and is equally important to the rest of your application.

7. Submitting late

Don't even try it. Save yourself the fee and don't submit at all if you're going to submit late. (Exceptions are extremely rare.)

8. Leaving gaps

Don't leave the AO speculating. Fill in all the gaps in your story. They have great imaginations about 6 month gaps in resume. Use that additional essay to explain without writing another essay.

Also, if you are not choosing to use your current supervisor as a recommender, please let the Admissions Committee know. It is fairly common that prospective MBAs do not tell their current supervisors about MBA pursuits, because it may jeopardize a bonus or a promotion. If you don’t choose your supervisor and you don’t let the AO know, they may assume that you have a bad relationship with your supervisor.

9. Playing defense

Don't worry about who else may be applying during your round. You can't play defense in the application process. The MBA application process in a one-person offensive sport like bowling, pole vaulting, and weighlifting. Just put your best foot forward.

10. Uploading the wrong essays

Don't upload essays from the wrong school. Make sure you name your essays appropriately (ie Stanford GSB_Essay 1_v3.doc).