Miami Herald Business Plan Challenge: 11th Annual Business Plan Challenge Rules & Regulations
11th Annual Business Plan Challenge Rules & Regulations
RULES AND TERMS OF THE CONTEST
Entry deadline: Your entry must be postmarked by April 4 or e-mailed by midnight April 5.
Local ties: You must be a South Florida resident (Broward, Miami-Dade, Monroe and Palm
Beach counties).
No nonprofits: All Entries must be for proposed for-profit businesses or firms still
in the start-up phase (less than one year since opening).
No existing franchises: If you've come up with a franchise idea all by yourself, fine;
but if you're implementing someone else's franchise plan, it's not eligible.
Student contest: We are reintroducing the student contest this year. The same rules
apply, and it is open to grades 9-12. Please mark "student entry'' on your entry.
(If you're in college, you'll be competing against the adults).
Mail entries to: The Miami Herald Business Plan Challenge, Fifth Floor, The Miami
Herald, 1 Herald Plaza, Miami, FL 33132.
E-mail entries to: businesschallenge@MiamiHer
Prizes: The top three winners as well as the People's Pick winner will be the subjects
of a Business Monday cover story May 18. Winners will be invited to a luncheon in
their honor with The Miami Herald's business editors, reporters and judges.
PREPARING YOUR ENTRY
Keep it short: The plan must be no more than three typewritten pages, 8.5 x 11 paper;
type no smaller than 9 point, please!
You may include one more page of supporting material … a product picture or diagram, a spreadsheet or marketing materials. Think of your plan as an executive summary … just the highlights.
Use everyday language: Avoid technical or industry jargon.
Get personal: Tell us a little about yourself and the rest of your management or
proposed management team. What experience expertise do you have bring to the table?
Give specifics: Explain why the world really needs your product or service and what
sets it apart from the competition. Make sure you clearly define what your product or
service is. If you have a prototype of your product, make that clear, too. It's OK if
your idea exists only on paper.
Include the basics: When preparing your plan, add these details:
-How much money will you need to get going?
-What are your potential sources of funding? (This is important. In previous years,
some great ideas didn't make it to the winners' circle because entrants hadn't thought
through how they would finance their businesses.) We suggest including your revenue and expense projections for three years.
-When will the product or service be ready for market?
-How will you market it?
MORE TIPS
Follow the rules: If you send more than a three-page plan with one supplemental page,
your plan will be disqualified no matter how wonderful it is.
Questions? E-mail businesschallenge@MiamiHer
Make copies: We cannot return entries. Include a phone number and address so we can
contact you.
Get help: For tips on preparing entries and answers to commonly asked questions, watch and read issues of Business Monday where we'll cover such issues as financing and branding.
Lights, camera, action! Be prepared to do a brief video presentation if you are one of
our top six finalists. We'll bring you to The Miami Herald studio to record it, and it
will be posted on MiamiHerald.com and readers will vote on their favorite.
GOOD LUCK!
Entry deadline: Your entry must be postmarked by April 4 or e-mailed by midnight April 5.
Local ties: You must be a South Florida resident (Broward, Miami-Dade, Monroe and Palm
Beach counties).
No nonprofits: All Entries must be for proposed for-profit businesses or firms still
in the start-up phase (less than one year since opening).
No existing franchises: If you've come up with a franchise idea all by yourself, fine;
but if you're implementing someone else's franchise plan, it's not eligible.
Student contest: We are reintroducing the student contest this year. The same rules
apply, and it is open to grades 9-12. Please mark "student entry'' on your entry.
(If you're in college, you'll be competing against the adults).
Mail entries to: The Miami Herald Business Plan Challenge, Fifth Floor, The Miami
Herald, 1 Herald Plaza, Miami, FL 33132.
E-mail entries to: businesschallenge@MiamiHer
Prizes: The top three winners as well as the People's Pick winner will be the subjects
of a Business Monday cover story May 18. Winners will be invited to a luncheon in
their honor with The Miami Herald's business editors, reporters and judges.
PREPARING YOUR ENTRY
Keep it short: The plan must be no more than three typewritten pages, 8.5 x 11 paper;
type no smaller than 9 point, please!
You may include one more page of supporting material … a product picture or diagram, a spreadsheet or marketing materials. Think of your plan as an executive summary … just the highlights.
Use everyday language: Avoid technical or industry jargon.
Get personal: Tell us a little about yourself and the rest of your management or
proposed management team. What experience expertise do you have bring to the table?
Give specifics: Explain why the world really needs your product or service and what
sets it apart from the competition. Make sure you clearly define what your product or
service is. If you have a prototype of your product, make that clear, too. It's OK if
your idea exists only on paper.
Include the basics: When preparing your plan, add these details:
-How much money will you need to get going?
-What are your potential sources of funding? (This is important. In previous years,
some great ideas didn't make it to the winners' circle because entrants hadn't thought
through how they would finance their businesses.) We suggest including your revenue and expense projections for three years.
-When will the product or service be ready for market?
-How will you market it?
MORE TIPS
Follow the rules: If you send more than a three-page plan with one supplemental page,
your plan will be disqualified no matter how wonderful it is.
Questions? E-mail businesschallenge@MiamiHer
Make copies: We cannot return entries. Include a phone number and address so we can
contact you.
Get help: For tips on preparing entries and answers to commonly asked questions, watch and read issues of Business Monday where we'll cover such issues as financing and branding.
Lights, camera, action! Be prepared to do a brief video presentation if you are one of
our top six finalists. We'll bring you to The Miami Herald studio to record it, and it
will be posted on MiamiHerald.com and readers will vote on their favorite.
GOOD LUCK!