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2009-2010 UD Business Plan Competition udbpc

2009-2010 UD Business Plan Competition www.udbpc.com. Department of Management & Marketing, School of Business Administration. A special thanks to our sponsors. UD National Alumni Association. Overview of today’s presentation. What is a Business Plan competition? Elevator pitch

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2009-2010 UD Business Plan Competition udbpc

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  1. 2009-2010UD Business Plan Competitionwww.udbpc.com Department of Management & Marketing, School of Business Administration

  2. A special thanks to our sponsors UD National Alumni Association

  3. Overview of today’s presentation • What is a Business Plan competition? • Elevator pitch • Finalist round • Prize money • Key dates • Support • Q & A/Drawing for prizes

  4. What is a Business Plan Competition? • Investigate a new business opportunity • Markets • Competition • Costs and benefits • Write 11-part business plan in common format • Present your plan

  5. UD BPC: A 2-stage competition • Stage 1: Elevator Pitch • One page entry form with information about your product/service • Deliver 1 minute elevator pitch • Judges select five finalists and top ten elevator pitches • Stage 2: Finalists • Finalists write a full business plan during the spring term • Present their plans to judges in March (20 minute presentation)

  6. Finalist Round 1st Place $20,000.00 2nd Place $10,000.00 3rd Place $ 5,000.00 4th Place $ 3,000.00 5th Place $ 3,000.00 Elevator Pitch 1st Place $ 1,500.00 2nd Place $ 1,250.00 3rd Place $ 1,000.00 4th Place $ 500.00 5th Place $ 500.00 6th-10th $250.00 UD BPC prize money: $50,000 overall

  7. Stage 1: How the competition works • Entries can be solo or team (8 person maximum) • Open to everyone-two entries per person • Finalist teams must include UD students or alums

  8. More on how Stage 1 works • First stage is easy to enter: 1 page, 1 minute • Can withdraw if you can’t do the full plan • Five finalists selected from the first stage… • Write a full business plan • Are guaranteed to win at least $3,000

  9. What is an Elevator Pitch? • In a one minute presentation you… • Present your idea • Cover six general areas • Judges ask no questions…you simply present

  10. What are the 6 areas of an Elevator Pitch? • Introduction • Problem Statement • Opportunity • Resources Required • Returns to Investor • Tag line and closing

  11. What do the EP judges look for? • Novelty/Cleverness/Usefulness • Quality of Benefits provided • Competitiveness • Growth Potential • Ability to Execute • Quality of presentation

  12. Stage 1: Application process • 1 page application • Opens 14 September, 2009 • Closes 11 November, 2009 • What we ask you to tell us • Demographic information • 6 areas of elevator pitch

  13. Elevator Pitch stage:Key dates • Sept.14th: Online system opens • Sept. 25th-Nov. 6th: Five open coaching sessions • Nov. 11th : Application deadline • Nov. 6th, & 13th: Dress rehearsals • Nov. 21st: Elevator pitch • Dec. 2nd : Finalists announced

  14. Stage 2: Finalist process • Finalist teams… • Are notified of their status on 2 December, 2009 • Are paired with Mentors (15 hours of Mentor time per team) • Are provided free training sessions • During Spring 2010 term… • Teams develop Business Plans • Create presentation slides for judges

  15. Stage 2: Final presentations • Each finalist team… • Has 20 minutes to present to judges • Will take questions from judges for ten minutes • Can use props, multi-media in presentation • Other rules… • 0rder of presentations is random and not announced in advance • Entire team must be present, but not all team members have to speak

  16. What do finalist judges look for? • Quality of the idea • Quality of the written plan • Quality of the oral presentation • Quality of the financial analysis • Quality of the team

  17. Stage 2 key dates • Dec. 2nd: Five Finalist teams announced • Dec. 11th: Team membership finalized • Mar. 12th: Business Plan due (electronic PDF) • Mar. 15-16th: Dress Rehearsal • Mar. 27th: Presentations Occur • Apr. 8th: Winners announced

  18. Why enter the UD business plan competition? • Entrepreneurship courses focus on… • Spotting opportunities • Planning to seize those opportunities • Executing the plans • Our goal is to make these steps easier/simpler

  19. Why is this a good resume line? • It’s a competition, so you outperformed others • Great ideas suggest leadership and creativity • Great presentations suggest great communication skills • A Business Plan shows you grasp the “big picture”

  20. Eligibility:Plan parameters • Work must be original--plans checked for plagiarism. • Start-ups acceptable up to one year old. • Non-profits are acceptable, but judged the same as others • Plans cannot violate Marianist values or conflict with UD mission • Plans must be legal • Plans cannot have a liquor license • Anyone may enter up to two plans, but can only be a finalist once. • Students can’t be serving a university suspension during the competition

  21. Support for entrants • Five coaching sessions during the fall, 2009 • Optional rehearsals for elevator pitch • Coaching sessions for all finalist teams • Business mentor assigned to each finalist team • Access to market research, planning tools, etc.

  22. Coaching sessions and rehearsals Sept. 25th Opportunity Recognition Oct. 2nd Adding Wow! Oct. 23rd From a Product to a business Oct. 30thFinancials Nov. 6th Adding growth to your plan Nov. 13th Dress Rehearsal Nov. 20th Dress Rehearsal

  23. What if you don’t have an idea yet? • We’ll help you generate many good ideas • We’ll help facilitate partnerships with people who do have ideas • Any other questions?

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