Too old to start a PhD at a top Business School?

I don't think you are too old at all. I don't know who these "admissions consultants" are that you are talking to, but I think they are full of manure. There are a wide variety of Ph.D. programs -- you may not get into Harvard, but there are a lot of other programs you could apply to. What major are you looking at? Most Ph.D. programs assume that you are going to major in a specific field such as finance, operations, marketing, management, etc. There are also DBA programs (Doctor of Business Admin.) that are more general in focus. You need to figure out what you want to specialize in in order to identify programs that you want to apply to.

A couple of key issues: One of the things you will need to do to apply to MBA or PhD programs is to take the GMAT (Graduate management admissions test). You need to score well on this test to get into Ph.D. programs. Even a good undergraduate record cannot necessarily compensate for a low GMAT score.

Another issue: DON'T go the online or directed study route. Most of those programs are very poorly regarded by universities, and if you want to teach, you really need to take your Ph.D. at a school that is AACSB accredited.

Finally, how do you plan to finance this endeavor? Most good Ph.D. programs will offer you an assistanceship, where you will teach or do research for a stipend. But you will be living at a poverty-level wage and there will be living expenses to cover, plus whatever costs you incur for doing the dissertation (printing and mailing of questionnaires, for example). So you need to look at the budgeting issue. And try to get in and out as quickly as you can. LOTS of doctoral students don't finish because they don't complete the dissertation and run out of time. If you are going to go for it, go for it with all your might and don't let things slide. Good luck!

You do not have to have an MBA in order to apply to a Ph.D. program.

You are in luck. One of the things schools want is diversity, another is excellence, and finally, they want successful alums who will donate money back to the school. You seem to be hitting all the marks. As a non-traditional student, ie one who is older, you can rightfully argue in your entrance application that you will bring a different perspective to your younger classmates. True, you are a published author and business owner. How many MBA candidates can say that? Too, the fact that you are already a consulting professional, you have a leg up on how business works. You can be an additional resource and mentor for your classmates. Finally, since you are already successful, you are more likely to be in the position of boosting your income to a level that will allow you to donate back to your school.

Phewey on admission consultants. Apply to Harvard and an assortment of their competitors and see who wants you the most. If Harvard turns you down, (and that is your first choice,) talk to people on the faculty to see what you can do to make yourself a more attractive candidate and re-apply next year. It might mean starting a non-profit on the sided or doing some pro bono work. It could be as simple as taking some leveling classes at an accredited other school.

Check out the publications of the faculty and become familiar with their research. Referencing their research in your entrance application and proposing their areas of study and them as the only people who can get you where you want to go may be your tipping point. Persistence is a good thing. Good-luck.

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