The purpose of this project is to see how well the entrepreneur understands and operates his or her business, not just how (or whether) it is profitable. How well does he or she present it in the entry?
Completeness, organization, and clarity will be considered.
Vision and Originality 20%
Financial Viability 15%
Marketing Plan (competitive analysis) 15%
Resources (HR, Team, Talent) 15%
Product/Service Research & Development 15%
Business Result 20%
1. Prepare a hard copy notebook describing your venture. Include the following in the order you think is best:
a. Describe your product or service.
b. Tell how you got into this business.
c. Describe your background, interests, and experience relative to your business idea.
d.Tell who is doing what to make the business operate.
e. How many hours per month or week do you spend on this business?
f. Who are your targeted customers?
g. Tell how you get your customers. Include samples of ads, coupons, flyers, business cards, or other things you use to attract customers.
h. Who are your competitors? (e.g. big companies, other students, small businesses)
i. Describe your financial experience.
2. What is your income and expense – for a typical month? – for a one-year period?
3. What is your profit (or loss) over this period?
4. How did you decide what to charge?
5. How did you get any money needed to start the business or buy equipment, supplies, or inventory (if any) e.g., loans, savings, gift, trade, other?
6. You may include pictures, a sample, or a display of your product or service.
7. Include recommendations from customers, if possible.