The Prep

Before you plunge into any major endeavor, whether it is painting a room, obtaining an auto loan or applying to an MBA program, a certain amount of prep work must be done.  Same with entering a team in a business plan competition.

For the Donald W. Reynolds Governor’s Cup, the place to start is the Who Wants to Be an Entrepreneur workshop.  Designed for college students, this is a no-cost, one-day course on all the essentials of entrepreneurship, from researching a concept, writing a business plan to making financial projections and pitching your concept.  Who Wants to Be an Entrepreneur is held each fall.

Next, you need to determine an innovative product, process or service around which to build a business plan, then carefully select up to six team members from diverse academic disciplines and find a faculty advisor or mentor who can guide you.  You will also want to take advantage of an opportunity to have your idea reviewed by venture development professionals.

This website offers resources and examples of business plans, presentations, pitches and deal summaries that can serve as a template for your team as you begin to research and write your plan.

Useful Links:
Forms, Scorecards and Applications The Paulsen Award Application
Guidelines Sample Business Plan
Sample Deal Summary Resources
The Entrepreneur’s Handbook