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Entrepreneurship Guidelines

Refers to owning, organizing, and managing your own business by providing a necessary product or service.

Requirements:

 

1. The contestant is required to make a verbal and visual presentation, not to exceed five (5) minutes, explaining their business plan.

     a. Product demonstrations are not required but can be offered at the requests of the judges. 

     b. Demonstrations should not exceed a second set of five (5) minutes, inclusive of questions and answers. 

 

2. A Visual presentation in the form of a Canva/Keynote/PowerPoint presentation, or physical display. 

 

3.  Familiarity with their business/brand's industry and general business terms related to their product/service. 

     a. General business understanding including, but not limited to marketing, product development process, financials, target market,               etc. are required. 

4. One, typed 8-1/2-inch by 11 inch double spaced business plan must accompany the entry. 

     The business plan:

             a. should be a minimum of ten (10) pages and not to exceed twenty (20) pages

             b. should include a cover page, executive summary, company description, a marketing plan

             c. also should include a management plan and a financial plan

             d. also include any supporting documents (i.e. graphs, photographs, statistical data)

5. The contestant's name, page number and Branch (Coraopolis NAACP #26AB-B) must be at the top of  each page. 

     The plan must be submitted on or before the specified deadline for judges' pre (March 25, 2024 deadline)

6. Contestants are required to have personally written the business plan and have been involved with the production of 

    any prototype product or service trials.

 

7. A statement of Competitor integrity must be signed.

 

8. One point will be deducted from the contestants overall score for each second over the presentation and/or demonstration time. 

 

 

Contestants Will Be Judged By The Following Criteria:

• Written Business Plan including: (75 points)

   1. Marketing Plan (including where you plan to market/promote your product/service, (15 points)

   2. Management Plan/Personnel Profiles (10 Points)

   3. Financial Plan (including cash profit & loss statement, budget, financial projects for the next 2 years) (15 points)

   4. Market Research & Analysis (including target customer/audience industry research/data, product/service/data) (10 points)

   5. Government Requirements (5 points)

   6. Product/Service Knowledge (including pricing, product functionality/service description) (10 points)

   7. Customer Service Plan (including how you will handle returns, customer complaints, and general customer outreach) (5 points)

   8. Creativity/Originality (5 points)

• Oral Presentation (20)

    1. Comfort Level of Product/Service Knowledge (10 pts)

    2. Social Responsibility/Contribution to the Community (5 pts)

    3. Presentation Style (5 pts)

• Visual Presentation (5 pts)

  

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