Want to enter the Business Plan Challenge but have questions? Challenge coordinator Nancy Dahlberg has the answers.
Business Plan Challenge
Most Recently Answered Questions
Questions 11 - 20 of 26 (Page 2 of 3)Submitted by E-mailed question from South Florida
Q: I am a teacher and want to challenge my class to enter the contest. Where are the rules for the student contest?
Answered 03/19/09 15:08:48 by Nancy Dahlberg
A: The rules are generally the same as the adult contest, but I've trimmed down what doesn't apply to them and posted a version of the student rules on MiamiHerald.com/challenge The contest is open to grades 9-12 in South Florida (Miami-Dade, Broward, Monroe and Palm Beach counties). Students must put "student entry" on their submitted plan. There is a separate panel of judges, too. The student winner will be featured in a Business Monday cover story May 18 and in a video on MiamiHerald.com. He or she will also be invited to the winners' luncheon and receive a plaque. I am glad you are encouraging your class, and I hope other teachers will also. The student contest has been a favorite in the past -- what creativity the students have! -- NANCY DAHLBERGSubmitted by A reader from Fort Lauderdale
Q: I couldn't find a clear description of the prize. Is it a story in the paper and attendance at a luncheon?
Answered 03/19/09 15:07:39 by Nancy Dahlberg
A: Winners will be featured in a Business Monday cover story May 18 and again next year when the 2010 contest opens. The winners -- first-, second- and third-place finishers, the People's Pick and the student winner -- will also be invited to a luncheon with contest judges, Herald editors and reporters and will receive plaques. There is no cash award.Submitted by Reader's emaile from Miami Shores
Q: I read your article about the Business Plan Challenge. How do I find out more about it? When are the entries due?
Answered 03/19/09 15:06:44 by Nancy Dahlberg
A: The rules of the contest will be in most Business Mondays And you can also find them on MiamiHerald.com/challenge. The entry deadline is April 4 for entries sent through the mail and April 5 for e-mailed entries. Submit your entry to businesschallenge@MiamiHerald.comSubmitted by E-mailed question from Coral Gables
Q: I'm concerned about confidentiality. If I win, does everyone see my business plan?
Answered 03/19/09 15:04:59 by Nancy Dahlberg
A: No. We won't publish your business plan, either in the paper or online, unless we have your permission. But if you are a winner, we will feature you and your business idea in a cover story and probably include some details of your plan in the story. I received several questions on this topic, and have told everyone this is something you will need to weigh for yourself. However, because the entry is so short, it may be that you can enter without giving away all your secrets. Just give us a good idea about how your product or service will work without getting into the technical or organizational details that you want to keep from the competition. Also, past winners have said the publicity they got from winning was worth sacrificing some secrecy.Submitted by E-mailed question from Miami
Q: I understand that if you are one of the top six finalists you will be asked to present in front of the judges and that this will be videotaped and posted on MiamiHerald.com for readers to view and vote. But will the business plans be published anywhere?
Answered 03/19/09 14:44:27 by Nancy Dahlberg
A: You won't have to present in front of the judges, but if you are one of the top six finalists, we will videotape your pitch. Readers will choose their favorite for a People's Pick award. As to your question, no, we won't publish your business plan without your permission. If you are a winner, we will feature you and your business idea in a cover story without posting the actual plan, unless you would like us to post it.Submitted by Reader's questi from South Florida
Q: We are currently preparing our entry and would like clarification on the length requirements. We understand that the actual business plan can be 2-3 pages, with a 1-page supporting document. Does the 2-3 page limit include include a cover page? Can a cover letter be included with the submission?
Answered 03/19/09 14:42:48 by Nancy Dahlberg
A: You should not include a cover page unless you want it counted in your 3-page limit, and I assume you don't. Put your contact info on the first page of your plan. What we send to our seven judges is the executive summary-style business plan -- a maximum of three pages -- and the one-page supporting document, if one is included.Submitted by E-mailer from Miami
Q: Can you send me a copy of a sample business plan?
Answered 03/19/09 14:40:51 by Nancy Dahlberg
A: I can do better than that. Last year's winning plan from last year is posted on www.MiamiHerald.com/challenge … the link is on the right. So get going, everyone … time is running out. Good luck with your submissions.Submitted by Your Name from Your Location (City, State)
Q: Does the business have to be quirky or unusual to win?
Answered 03/19/09 11:52:53 by Nancy Dahlberg
A: t's true that unusual businesses may seem like they have the edge. But that's not necessary to win. A winning business will solve a problem in the marketplace. It will fill a void. If you make a good case on why the marketplace needs your business and what your business will do to fix the problem or fill the void, as well as why you are the person to run it and why, I think you have a good chance at winning. And don't forget to include how you will fund your business. What will it cost to start up your business and where will the money come from? That's an area that has been lacking in plans the last couple of years.Submitted by A reader from South Florida
Q: What is used to evaluate the People's Pick award? And is this an additional award?
Answered 03/19/09 11:49:51 by Nancy Dahlberg
A: The People's Pick, now in its third year, will be chosen by MiamiHerald.com readers. Each of the top six finalists will be the subjects of short videos -- think elevator pitches --made in the Miami Herald studio. The videos will be posted in late April on MiamiHerald.com/challenge and readers will have one week to cast their ballots for their favorite. The past two years it has been an additional prize, but it could also end up being one of the judge's picks, too. Watch for more details next month.Submitted by E-mailed question from South Florida
Q: Do I send my entry to you?
Answered 03/19/09 11:47:30 by Nancy Dahlberg
A: No. E-mail your entry to: businesschallenge@MiamiHerald.com Or mail your entry to: The Miami Herald Business Plan Challenge, Fifth Floor, The Miami Herald, 1 Herald Plaza, Miami, FL 33132. Remember: The deadline is April 4 for post or midnight April 5 for e-mail.



Previous
My Yahoo