Hi Eli,
Thanks for writing in, and kudos to you for thinking about how to frame your application so far in advance.
If you were to apply now your lack of work experience would be a weakness, potentially a significant one since I don't know the context of your post-MBA goals. Your essays would have to clearly address why you need to get an MBA now, as opposed to waiting a few years.
A 710 is in the competitive range at those schools, but of course those are among the top schools in the country. If you can turn your GMAT into a strength it may be worth retaking one time. Only your highest score counts, so the risk is minimal, and you're not racing against a deadline right now. I suggest concentrating on where you can improve your score and if practice tests show your score can go up, consider retaking the GMAT.
Your last question is a great one -- and something all current candidates probably wish they had asked two years ago.
For one, seek out leadership opportunities both in the workplace and in the community. Try and find a local cause that excites you and dedicate a certain part of your time to it. Even 5 hours/month over the course of two years will show the schools that you take that commitment seriously.
Another suggestion is to keep a journal of your experiences that may be good essay material in the future. For example, when you wrap up a project at work, write down the challenges you overcame, what you learned, and how you would do things differently if you had another chance.
Lastly, I recommend staying on top of the latest news and research in the MBA community, specifically as it relates to your target schools. For example, if you read that School X has hired three professors over the past two years with a microfinance specialty -- and you want to pursue microfinance -- then you can speak to that in your application.
Best of luck!
Daniel Richards
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