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5 Tips to Win Business Plan Competitions



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my name is Gustav and one of the

cofounders of student competitions and

I'm gonna give you some advice on how

you can do to win business plan

competitions so the first thing that you

should think about is to read the

instructions very carefully all business

plan competitions are different and all

business plan competitions have a

different purpose and they're looking

for different types of ideas so make

sure that your idea is in line with the

ideas that they are looking for in the

business plan competition and be very

specific about the details if they're

asking for ten pages with a font size of

12 and that is what you're gonna send

the second thing to think about is to

look at really good examples there are

many examples on the Internet of

business plans that have already worn

business plan competitions and you can

download these and you can study them

carefully to see which sections should

you include in your business plan and

which sections are perhaps less

important it's also nice to look a bit

about how other people have structured

their business plans like what what kind

of diagrams do they have what kind of

pictures do they have any good

infographics that you can use in our in

your in your business plan so study the

examples very very carefully

and another thing this is important to

realize is that all business plan

competitions have judges and these

judges will be the only people deciding

on who's gonna win the competition or

not and if you are going to be rewarded

for something else so take your time

I've studied the jury and very carefully

you know take your time to look very

closely at their profile or their

venture capitalists or the professors or

the entrepreneurs you know read a bit

about the jury and see what do these

people like and when you write the

business plan you write it for that

audience to make sure that the business

plan is aligned with the audience that

is in the jury

and once you have finished your business

plan and I feel that you are content

with it make sure that you run it

through a couple of other people ask

some mentors for advice maybe some

professor at the University maybe

somebody you know somebody's parents I

don't know you know find somebody who

can read through your plan and get

feedback on it because it's much better

that you get this feedback before you

sending the plan that you get it then

you get it from the final jury so make

sure that somebody goes through and give

feedback on your business plan before

insanity

last but not least remember to check all

the details of your business plan indeed

that before Sunday we do what they're

looking for read the application the

application details and legibility

criteria again make sure that you answer

all the questions that they're asking

for the competition check your business

model make sure that your business model

is really really working make sure that

you have all the numbers in in in order

and also make sure that the application

looks nice because an application that

looks nice in most pictures and diagrams

that will stand out and now we make sure

that you will be the winner of the

business plan competition at your file

good luck