You is perhaps making an attempt to determine how you can contact Mark Cuban. Nicely, I’ve a narrative that will provide help to. Again in late 2011, I bought the chance to pitch Mark Cuban. I used to be only a pupil on the time, at Howard College, and cofounder of an organization — not existent — known as My School Hustle, a bartering platform for school college students.
Hoping to seize a $25,000 prize, my enterprise associate Edward Lyles and I participated in a Shark Tank-style competitors, in New York, that really predated the TV present (I assume the competitors’s organizers have been on to one thing).
And whereas my workforce didn’t win the highest prize, we did get to satisfy Cuban — the results of making it to the semi-finals of a school business-plan competitors sponsored by MTV.
That’s the purpose I wish to make: Should you by no means considered business-plan competitions as a supply of funding for your small business, assume once more. These competitions can afford you numerous distinctive alternatives.
3 explanation why you need to begin competing right now
- You possibly can win startup capital and publicity.
- It’s an amazing networking alternative.
- Winnings are normally awarded with none lack of enterprise fairness.
Now, right here is the data you have to get began.
1. How do you discover competitions?
Try websites like StudentCompetitions.com. You may also search on Google utilizing a variation of key phrases similar to “pitch competitions,” “Bplan competitions,” “School entrepreneur competitions” and “Problem competitions.” Combine and match key phrases to tug up totally different outcomes.
Not a school pupil? No worries; there are different competitions for you, too. Strive looking company-based key phrases, like “Dell pitch competitors,” “Microsoft pitch competitors,” and so forth. Sort in any random tech firm you may consider, and pair it with the phrase “competitors” and see what comes up.
Typically, tech firms run competitions to advertise and encourage innovation. There are tons of those competitions occurring all year long, so preserve your eyes peeled, and all the time be looking out.
2. What likelihood do you’ve gotten of successful?
I do know what you’re considering: There are tons of individuals making use of; what likelihood do I’ve of successful? Nevertheless it may shock you that most individuals aren’t keen to place within the work and that lots fewer individuals apply than you may anticipate. Additionally, keep in mind that you simply don’t have to win each competitors.
One “sure” could make an enormous distinction in your small business. Throughout faculty, I gained over $20,000 simply from competing in 5 marketing strategy competitions.
The vital factor is that, in the event you’re a younger entrepreneur, it’s essential you reap the benefits of each alternative you need to community. And these competitions are a good way to do this.
I stress this as a result of I competed in a contest just a few years in the past, and ended up successful second place. I then stored in contact with the winners, and some years later, after I reapplied, guess who the choose was? The man who had crushed me within the competitors just a few years earlier than! I had no concept that was going to occur, and it was comforting to know we had somebody in our nook from the beginning.
3. Whom do you have to know?
That story brings me to my subsequent level: networking. Crucial individuals you have to meet are the judges. After the competitors, go and speak to them and get their contact data. Study extra about them; they’re judges for a motive, proper? These might be potential traders or mentors. Community!
4. How do you prepare for this?
As a finalist for a earlier competitors, I used to be assigned a private coach in my metropolis and obtained free coaching up till presentation day. So, be sure you take part in any pre-competition actions supplied, as a result of the occasions’ organizers typically have optionally available coaching classes or on-line seminars to raised put together you.
Talking of coaching, keep in mind that competitions are a good way to apply public talking abilities. You’ll all the time have a possibility to be in entrance of a crowd. Whenever you’re not presenting, and there’s down time, you might be always speaking and assembly individuals, which forces you to condense your concept right into a 30 second elevator pitch. You study to talk extra confidently and concisely.
5. How do you write your marketing strategy?
Drafting an in depth marketing strategy is important. An govt abstract could also be required for just some competitions, however it’s finest to only chew the bullet and write a full plan. Your plan must be prepared, so you may constantly apply for the assorted contests.
Have some traction in your concept; earlier than the judges make investments, they should see validation. How are you aware you’re fixing an actual drawback?
My secret to crafting marketing strategy is easy: Be inventive! Make it stand out; maybe do an interactive marketing strategy, the place the judges can scan a QR code and be taken to a reside demo or video of your product. Get particular; clarify intimately how you propose to attain sure benchmarks.
Oh, and assembly Mark Cuban? He was extraordinarily pleasant and gave us motivational recommendation about pursuing our enterprise. It was an amazing expertise.
Associated Publish: The right way to Win a Enterprise Plan Competitors