Lesson 7: Acceptance

Acceptance can feel so liberating. This Spring, thousands of students found out they were accepted to business school this spring. Many of these applicants were accepted to more than one program. However, for every acceptance letter, there are many more rejections. I received both rejection letters and acceptance letters this year, which caused more mixed emotions than I expected. 

Applying to business school will not be my last time dealing with rejection. Entrepreneurship Through Acquisition will require me to talk to dozens, if not hundreds, of business owners and investors. This week, I had lunch with someone who graduated with his MBA and acquired a business in 2021. I learned that I will need to convince a lot of people why I can run a business. How will I convince people I can be a CEO if I have never been a CEO in the first place? 

Many MBAs have the same question. In the article “Why MBA Students Do Not Pursue Entrepreneurship through Acquisition,” A.J. Wasserstein and his colleagues discuss the most common deterrents to this path. After surveying 369 MBA students, the most common deterrent to pursuing ETA was feeling they needed more experience first. However, the authors say: “There is no way to have CEO experience before being a CEO.” All CEOs learn on the job and bring their skills and experience to the role.

As I wrote applications to business school, I felt confident about my ability to do whatever I chose to pursue because I knew I would grow into the role. I have decided that my role will be CEO of a trade school. The question is not will I convince others but rather have I convinced myself? I have, and I simply need to begin inviting others to join me. 

My vision is to leverage my influence as a Black business leader to pursue economic justice. Leading a trade school will empower graduates with the means for sustainable employment. Self-acceptance is critical to realizing this vision. 

Acceptance is Lesson 7. Next week, I will share Lesson 8: Feedback.