Forbes.com $100K Business Plan Contest

What would you do to grow your business with $100,000? It's not just an idle question. Forbes.com is offering that as the grand prize in its Boost Your Business In 2008 business plan contest.

Applications are being accepted now, and through the end of May.

And here's a challenge for you: the first round is no more than 500 words, which must include (quoting):

• Description Of The Business: Specifically, what product or service is being sold and to what type of customer? What is the estimated size of the addressable market?
• Discussion Of The Business Model: How, specifically, does the company earn a profit? (Examples: retail sales, consulting fees, advertising.)
• Capitalization: How is the business funded? (Examples: loans from family and friends, venture capital, bank loans, cash flow from operations.)
• Differentiators: How is the business different from--or better than--the competition? Why do people want or need this product or service? What is the company's sustainable competitive advantage? If the business is technology-based, has a relevant patent or license been secured?
• Years Of Relevant Experience: For how long, and in what capacity, have you and your management team been involved in the industry?
• Your Plan For Using The $100,000 Prize Money: This is critical! Briefly but specifically describe how you would invest the largesse to take your business to the next level. (Examples: new equipment, new people, more marketing, etc.)

For more information, visit the Forbes.com website.

-- Tim Berry
President
Palo Alto Software

Comments

[Tanya Middleton]

I love these contests, they are motivating and inspire growth and development. Sometimes, reflecting on these key questions are enough to inspire even the smallest advancement of best practices.I actually work with Microsoft, and right now I’m really excited to spread the word about the “Vision to Venture” tour they’re having between April and May, which will consist of five live events. Featured speaker, John Jantsch is a marketing and digital technology coach, award-winning social media publisher, and author of Duct Tape Marketing: The World's Most Practical Small Business Marketing Guide.as well as many other speakers offering industry tips. Our first event was momentous and we hope to continue on with our success. You can see more and register at http://smallbusiness.officelive.com/v2v/ so let me know what you think! And if you have any questions, I’d be more than happy to answer them 

[pavan]

Very nice article. It’s really help full. I bookmark this site for updates
I completely agree this model is germaine to enterprise sales.
Sales Forecasting Software

[dax]

Great post! hope to read more from you. thanks!

[Government Accounting Software]

Great post, I wish I could win $100k. Thanks for the info, keep up the good work!