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.
Screening Round The Screening Round takes place online, and is the first major hurdle for students participating in the Business Plan Competition. Student teams submit their business plan executive summaries online. Over the course of a weekend, each business plan executive summary is read and scored by eight to ten judges who are encouraged to provide written feedback for students.
After the Screening Round, an announcement of teams advancing to the Investment Round is sent via email. Please also review the submission checklist. Scoring based on 1 lowest to 5 highestwith 3 being of the caliber to advance to the next round Overall Impression of the Executive Summary Does the summary adequately describe the idea — does the idea make sense?
Has the team adequately described the pain in the marketplace?
Do you believe the team has presented a feasible solution? Is the summary well written and succinct? Does the summary create excitement? Management team Does this management team have the skills required to execute the plan?
Does this team have the experience to lead a new venture? Market opportunity Have they adequately described the market and economic opportunity? Have they clearly stated their value proposition? Is it a viable model? Competitive strategy Has the team completely analyzed its competitive space?
Does the team have an adequate strategy for defending their market position? Go to market strategy Is it clear how the company will reach its initial customer?
Does the summary clearly identify a sales strategy? Is the distribution plan clearly defined and reasonable?
Has the company booked any revenue?
Financials Are the financials consistent with the overall plan? Are the assumptions realistic? Are contingencies and exit strategies addressed? At the end of the event, investment dollars are collected and tallied. We also tell them: Does this business seem well thought out?
Has the team demonstrated knowledge of the industry and potential customers?
Is there a real opportunity here? Has the team answered your questions?
Coaching Round The Coaching Round is a noncompetitive round in which no teams are eliminated. This round gives teams the opportunity to practice their presentations in front of a panel of coaches from the local entrepreneurial community.
This round is designed to provide teams with in-depth and constructive feedback that they can use to hone their business plans and pitches prior to the Sweet 16 and Final Rounds. Sweet 16 Round and Final Round After honing their presentations in the Coaching Round, each of the sixteen remaining teams is assigned to present to one of four panels of judges.Most Frequently Asked Questions Who is eligible for the student competition?
Business Track: Participating teams require at least one Harvard Business School MBA student who plays a primary role in the benjaminpohle.com HBS student should be a part of the founding team and a significant equity holder, if equity has been distributed.
A key part of any business plan is the market analysis. This section needs to demonstrate both your expertise in your particular market and the attractiveness of the market from a financial standpoint.
It may seem counterintuitive, but answering these questions isn’t a one-time process. Your business plan should be a living, changing document that evolves along with your company. What’s the right path for your business or organization? Before you finalize things like your brand’s messaging, content plan, and website design, get feedback from your target audience with .
Typical questions addressed by a business plan for a start up venture. What problem does the company's product or service solve? What niche will it fill? What is the company's solution to the problem? Who are the company's customers, and how will the company market and sell its products to them?
Thank you for your continued interest in the ELEVATE Business Plan competition. A Global Faith-Based Student Business Plan Competition. Competition. Vision. Our vision is to elevate and mobilize a generation of bright entrepreneurs, Frequently Asked Questions.