By adjusting the team to join the business plan competition organized by the university. It is very clear in your mind about the dedication, persuasive and analytical skills that your team gets to the final with a lot of offers to take your business plan with a public offering (IPO). You feel that the whole team has matured and become more focused in an attempt to succeed. Now that you have decided that you want to create a business-plan competition as a way of giving back to the community. However, you begin to realize that it requires a lot of planning, strategy and focus for the business plan competition could also be the launch-pad from an unknown startup. It is a miracle to be part of the business plan competition. You feeling enormously from the huge achievement already.
Here are some tips that will help you along this path.
Even before you start to create your own business plan competition, you have to be very clear about what separates you and a number of other business plan competitions globally. How do you measure the success of your business plan competitions?
Gifts do not need all the cash. It can also include administrative support free or even looking for a venture capitalist.
Judging criteria should be clear and constructive participants so they know what to emphasize during the presentation of their group.
Start getting the initial sponsor. It is important that you have a detailed meeting with potential sponsors and understand how your business plan competitions can give their organizations more positive publicity and mileage.
The judging panel:
Make sure that you get a large pool of judges who considered a subject matter expert and have no interest in any of the teams and unbiased and fair in their assessments. Calling a meeting-up in which you can short all the judges on the assessment criteria and how they should comply with non-disclosure agreements and confidentiality.
The more experienced judges may be offered the opportunity to be a judge for the final and must have the ability to do a Q & A and articulate about what makes their offering certain points.
For a more hands-on professional group, you can offer them the opportunity to mentor the participating teams. This can give you judge the chance to continue to be part of a startup even after the end of the business plan competition.
Each startup participating in the competition you wish to get a lot of people know about your product or expertise. Thus you must ensure that your business plan competition awarded the most positive publicity possible.
It is very important for startups who may not have won the competition but was excited to get more potential customers to learn and use their products or services.
Forms of publicity can be exploited profitably.
Consider to select the finalists to become part of a book to recognize how they have gone beyond just being startups. This book can give them more credibility on a global platform.