We’re down to the wire now. Saturday, March 24, is the last day to turn in your entries for the 2012 Miami Herald Business Plan Challenge.
Whether you are entering the Community Track, open to all South Floridians, the High School Track open to grades 9-12, or the FIU Track, open to students and alumni of that university, we will help you through it. Here are some general questions I received last week.
Q. Are there any formatting rules or specified fonts?
A. We require the type size be no smaller than 10 point. We don’t have margin requirements or a required font, but think readability — think about those judges.
Remember, your plan can be three typed pages. In addition to that, you can include one supplemental page for a financial chart, photo, diagram or other visual.
Q. Will I present my plan in front of the judges?
A. In our contest, the judges evaluate the submitted business plans, and their ratings of the written plans determine the winners. However, the top six finalists in the Community and FIU Tracks will present their elevator pitches on video, for the online world to see and vote on, in our People’s Pick contest. The People’s Pick winners will be honored as well. Also, at least three finalists will be invited to present in front of the Miami Innovation Fund, an early-stage fund, in a shark tank-like event and could receive a term sheet. Both of these opportunities provide experience making your pitch in front of investors.
Q. I incorporated my web-based company in 2009 but we launched the business last year. Are we eligible?
A. In our contest, we consider the date you opened for business and began selling your product or service as the start date, rather than date of incorporation. You’re eligible.
Q. I’m a middle school student. May I enter the high school track?
A. How could we say no to that? Congratulations on getting an early start on your entrepreneurial dreams. Give those high school students a run for their money.
Q. I am still researching and formulating my business and have not incorporated yet. Am I eligible?
A. Yes. A business does not have to be incorporated to enter our contest. Even business plans still in the dream phase are welcome. Student and class projects are fine, as well.
Q. I submitted an entry but did not hear from you. What should I do?
A. You should get an email from me within a day or two confirming your entry was received. If you don’t, email me at ndahlberg@miamiherald.com so I can investigate. I’d hate for all your work to be held hostage by the spam folder.
Q. When’s that deadline again?
A. 11:59 p.m. March 24 — but that doesn’t mean you have to wait until the last minute to enter.
In fact, entering at least a day or two before the last day ensures I have a chance to check your entry and make sure everything came through and can open. If something is amiss, I can give you a chance to resubmit by the deadline. There are simply too many last-minute entries to do that the last day.
Last year, several people — including one of the winners — was glad they didn’t wait until the last minute because something did need resending.
Where to email your entries:
Community Track: challenge@miamiherald.com
FIU Track: fiuchallenge@miamiherald.com
High School Track: highschoolchallenge@miamiherald.com
Questions: ndahlberg@miamiherald.com
Good luck, everyone!
Follow me on Twitter @ndahlberg #mhbizplan