The Competitive Analysis section of your business plan is devoted to analyzing your competition--both your current competition and potential competitors who might enter your market. Every business has competition. Understanding the strengths and weaknesses of your competition--or potential competition--is critical to making sure your business survives and grows. In fact, small businesses can be especially vulnerable to competition, especially when new companies enter a marketplace.
Editor, Wharton Magazine The first thing you realize when you sit in on a pitch session in the Wharton Business Plan Competition Semi-Finals is how quickly five minutes pass. That is all the time each team had to present to the judges. After the formal pitch, the judges ask questions and throw out advice in staccato succession for seven minutes, barely giving presenters time to find their footing and respond.
Lisa Lovallo, Hemishare I had the privilege of watching how three teams out of 26 fared against the judges during Semi-Finalist presentations on March Still, she managed to sell her business plan in five minutes and field questions from the few dozen judges in the room.
Another benefit was the automatic networking within the Wharton community. They have also already experienced the benefits of the network; one of the judges mentioned in his feedback that he wants to connect SkylBridge with a recruiting firm. Sadly, despite the overwhelming positive experience for all, only one team out of the three I witnessed got voted to move to the Finals.
Of course, it is happy days for them and their startup ZenKars, an online platform that allows consumers to buy used cars directly from corporate sellers.
Insights from the first round, for instance, helped ZenKars to double the size of their business plan. Chabas reports that ZenKars has also participated in a Dreamit Ventures incubator, pitched to the Dorm Room Fund, applied for grants, and planned a West Coast trek in June to find angel and seed round investors.
They have shown what they can do, said Chabas, and now they just need more funding to go out and do it. Yet, do not fret too much for them.
Both teams will be the first to tell you that the experience was a positive one, and that they planned to move their startups forward no matter what. Want to find out how the Wharton Business Plan Competition turned out?
1 Business Plan Competition Presentation Rubric Total Points_____/50 points possible Score based on 1 (lowest) to 5 (highest) Team. Frequently asked questions about the Rhode Island Business Plan Competition. The competition section of the business plan aims to show who you are competing with, and why the benefits your product provides to customers are better then those of the competition; why customers will choose your product over your competitors.
Student Entrepreneurs Day in the Life.Business Plan Competition > Clarity, completeness, and persuasiveness of the written business plan and oral presentation.
The usefulness and quality of the business plan concept (e.g., product, technology, service). The quality of the team members’ responses to questions from the judges.
The decisions of the judging panel are final. The Turner College of Business will host the Business Plan Competition.
The competition will award prize money in the amount of $3, (1st), $2, (2nd), $1, (3rd). All CSU students are eligible to compete. Fore more information on the Business Plan Competition view our Frequently Asked Questions. FAQ page contains basic information about the competition.
Aug 22, · Business Plan Competition organized by The Embassy of Indonesia in Washington DC and Mekar Entrepreneur Network. Detail of the Competition will be available at plombier-nemours.com or www. Aug 06, · Top 10 Questions Every Business Plan Should Answer Newtek - Your Business Solutions Company Contributor i Opinions expressed by Forbes .
If you want to successfully pitch investors, you need to make sure that your pitch deck, executive summary, and business plan answer ten critical questions.
Ten Questions Every Business Plan Must Answer. and how you intend to stay one step ahead of the competition (say, in the form of patents or other sources of competitive advantage).