Submitted by Paula from Pembroke Pines

Q: Is there a template to follow?

Answered 02/28/11 15:26:34 by Nancy Dahlberg

A: There is not a template, per se, as we try to make it easy to enter. We ask for a maximum of three pages because that way you can use your executive summary if you already have a business plan. If you have not written a business plan, writing one in three pages or less is a terrific way to get going. You can see some examples of winning plans in the community track on MiamiHerald.com/Challenge (left side)

Submitted by Jose from Miami

Q: When is the deadline?

Answered 02/28/11 15:24:00 by Nancy Dahlberg

A: The deadline is 11:59 p.m., March 25. You should get an automatic response that your entry was received. If you don't or have questions, email me at ndahlberg@MiamiHerald.com No reason to wait until the last minute however! If your entry comes in before the last two days, I will have a chance to double check that your entry is intact and will personally confirm that it is received (due to the high number of entries that come in the last 48 hours, I won't be able to personally look through them all). Also, if you need to update your plan before the deadline for some reason, you can do so. Good luck to you! Nancy

Submitted by Sarah from Miami Beach

Q: Hello, I want to enter the Challenge, but if I understand it right, my company's financial information will be published. I don't want that. Am I understanding the process correctly?

Answered 02/22/11 15:57:19 by Nancy Dahlberg

A: Not exactly. If you enter, we don't publish your plan, either online or in the paper, at all. If you are a winner we will feature you and your idea in a story about you -- great exposure for you -- but we won't include financial details you are not comfortable revealing. The year after the Challenge, we do like to post the winner's plan so others will have an example, but we do so only with permission. So please don't let that be a deterrent. However, all that said, the judges do want to see your financial plan -- highlights about where you intend to get startup costs, what you project they will be, projected operating expenses, revenues etc. So while we won't publish them, to be a winner you do need to include that section. Let me know if you have other questions! Nancy

Submitted by Alice from Fort Lauderdale

Q: Two partners and I just started a nonprofit. Can we enter the idea in the Business Plan Challenge? Alice

Answered 02/22/11 15:36:06 by Nancy Dahlberg

A: Congratulations, Alice, on your nonprofit. I am sorry to say that the Challenge is just for for-profit ideas at this time. However, in the past, nonprofits have submitted plans for for-profit ventures based on their business model. That would be allowed. You need not have an operating business to enter -- ideas are just fine too. Nancy

Submitted by Your Name from Your Location (City, State)

Q: Can I enter more than one idea?

Answered 02/22/11 15:33:17 by Nancy Dahlberg

A: Absolutely, as long as each idea is a separate entry.

Submitted by Sam from Miami

Q: I attend the University of Miami. Can college students from UM compete against students in the FIU track?

Answered 02/09/11 19:21:23 by Nancy Dahlberg

A: Sam, I'm happy that you are interested in entering. The FIU Track is open to students and alumni of FIU. If one person on your team is either an FIU student or alum, your team can enter that track if you wish. However, you and any college student can enter the Community Track. Last year we had about a dozen entries from UM and Miami Dade College in the community track, which is open to all South Floridians. We hope to have more college students in the Community Track this year -- I know you guys are very entrepreneurial! Please help me spread the word about the contest so college students have a great showing this year. Nancy

Submitted by Julie from Miami Beach

Q: I have a question. I incorporated in 2008 but didn't quit my day job and start selling my product until May 2009. Do I qualify?

Answered 02/09/11 17:28:43 by Nancy Dahlberg

A: Yep, you qualify. In our contest, we define the date as when you opened your doors or launched your site and started selling your product or service. We recognize that many entrepreneurs sometimes incorporate long before they open for business. Hope that answers your question, and good luck. Nancy

Submitted by Marcos from Miramar

Q: I have an idea for a great mobile technology business, but I am concerned about confidentiality. Will my idea be protected?

Answered 02/08/11 19:26:45 by Nancy Dahlberg

A: If you are one of the winners, we will write about you and your business idea, but we will write about it in a general way. Remember, the entry is only three pages long, at the max, so you don’t need to get into proprietary detail about exactly how your product will work or the technology behind it. We won't post or publish your actual business plan without your permission, only a general description. Entrepreneurship experts, including many of our judges, also say entrepreneurs should be proactive in seeking out feedback. “Don’t hesitate to enter the Challenge because you’re worried about ‘someone stealing your idea.’ The advantages that you will gain from having experts review and critique your business plan and idea are well worth the possible risk of ‘someone stealing your idea. Besides, an ‘idea’ alone, is not worth the paper it’s written on. What counts, and eventually has value, is the implementation, and YOUR plan,’’ said Ana Cela Harris, a judge in the FIU Track. “Besides, if it is an idea that is that simple to replicate, then that is one of the factors that you should consider — its feasibility, possible competition and imitators — and that’s better to know it up front.’’ All that said, of course, it is your decision. Nancy

Submitted by Bill Springer from Fort Lauderdale, FL

Q: Hi Nancy, I have a home based business which right now isn't doing so well and one of the major reasons is that I'm not doing what I should. In other words, I'm in a rut! Even though it is more then two years old, I would like to fire myself and start over. Would that count? Sincerely, Bill

Answered 02/08/11 18:55:28 by Nancy Dahlberg

A: Bill, If you are changing your business model enough, it would count. In other words, it couldn't be the same business, same name, etc., that you have been operating for more than two years. In this contest, you don't need to have a business up and running, so if you presented a plan for a home business with a different twist, it would certainly be considered. Nancy

Submitted by Paula from Pembroke Pines

Q: I am going to enter. But are there no prizes?

Answered 02/07/11 10:03:54 by Nancy Dahlberg

A: How perceptive of you, Paula. Our contest, now in its 13th year, has always been only about fun and education -- we don't offer cash prizes. Winners do get exposure in the Miami Herald -- we profile all the winners in a special section of Business Monday and we follow their progress for years to come. Winners also get feedback from the judges (who are listed on MiamiHerald.com/Challenge) and a chance to network with the judges at a winners' luncheon in their honor. Our sponsor, FIU's Pino Global Entrepreneurship Center, also invites and honors the winners to its Hall of fame reception in May. We also try to keep the entry requirements simple so that entrepreneurs who enter other contests (with, ahem, cash prizes) can also enter ours by using some of what they've already written. I hope you will enter -- and good luck! Nancy Dahlberg