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Home of the home-based business
BYU Home Based Business Plan Competition
Background
BYU is nationally recognized for its Business Plan Competitions. The main competition is very rigorous and attracts hundreds of students to the events and forums. Typically a field of over 40 very competitive teams (made up of inventors, financial experts and marketers), submit business plans in hopes of reaching the final round where they can present and challenge for over $100,000 in cash and prizes.
New Opportunity
In 2007 the Rollins Center for Entrepreneurship and Technology launched a new competition specifically for home based businesses. The BYU Home-Based Business Plan Competition (HBBPC) is thought to be the first of its kind in the nation.
The $5,000 prize money is funded by donation from spouses of Founders of the Rollins Center for Entrepreneurship and Technology.
Our goal is to encourage entrepreneurs who have a business idea that they can pursue from home. This competition broadens the participation of female students who often are not looking to launch a multi-million dollar venture, or form a team of partners, but who want a home business which allows them to balance career and family.
How do I get involved?
Come to the Kick Off event and attend any of the forums or clinics in support of this event. Details and a schedule are available at BPC.BYU.EDU. Watch for special announcements related to "HBBPC" where you will find support from others with home-based interests. Events run throughout fall and winter semester to help you find resources and get mentoring for your idea. Prepare your business plan and refine your concept and prepare it to be submitted in February. YOU COULD WIN $5000 FOR YOUR BUSINESS
I'm not a business student, do I have a chance?
So far, none of our winners have been business students. You do not have to be a business student to participate. Come to the workshops and events, and you will learn everything you need to know to participate.
Do I need a million dollar idea?
In the past judges have been more persuaded by those ideas that show they can provide a good living by working a few hours a day from home. When judges see a business plan that projects millions of dollars in revenue two or three years out, they are sometimes skeptical that it can really be run as a home business.
Do I need to participate in the Idea Pitch Competition or the Speed Pitch Competition to enter the HBBPC?
The Idea Pitch Competition and the Speed Pitch event are preliminary competitions that provide a wonderful idea for mentoring and feedback. If you miss these competitions, you are still eligible to submit an entry in the HBBPC. Those who participate in the preliminary competitions will benefit from valuable feedback designed to help them be more competitive.
Does my business need to be established to win?
No. A business idea is sufficient, but judges are often more impressed by a business that has established a basic website and perhaps a few sales (though you are not eligible to compete if you have sales revenue before September 1st). The more immediate and detailed the plans to launch the business the stronger the chances of winning. Mentoring and clinics will help you get to where you need to be.
BYU is nationally recognized for its Business Plan Competitions. The main competition is very rigorous and attracts hundreds of students to the events and forums. Typically a field of over 40 very competitive teams (made up of inventors, financial experts and marketers), submit business plans in hopes of reaching the final round where they can present and challenge for over $100,000 in cash and prizes.
New Opportunity
In 2007 the Rollins Center for Entrepreneurship and Technology launched a new competition specifically for home based businesses. The BYU Home-Based Business Plan Competition (HBBPC) is thought to be the first of its kind in the nation.
The $5,000 prize money is funded by donation from spouses of Founders of the Rollins Center for Entrepreneurship and Technology.
Our goal is to encourage entrepreneurs who have a business idea that they can pursue from home. This competition broadens the participation of female students who often are not looking to launch a multi-million dollar venture, or form a team of partners, but who want a home business which allows them to balance career and family.
How do I get involved?
Come to the Kick Off event and attend any of the forums or clinics in support of this event. Details and a schedule are available at BPC.BYU.EDU. Watch for special announcements related to "HBBPC" where you will find support from others with home-based interests. Events run throughout fall and winter semester to help you find resources and get mentoring for your idea. Prepare your business plan and refine your concept and prepare it to be submitted in February. YOU COULD WIN $5000 FOR YOUR BUSINESS
I'm not a business student, do I have a chance?
So far, none of our winners have been business students. You do not have to be a business student to participate. Come to the workshops and events, and you will learn everything you need to know to participate.
Do I need a million dollar idea?
In the past judges have been more persuaded by those ideas that show they can provide a good living by working a few hours a day from home. When judges see a business plan that projects millions of dollars in revenue two or three years out, they are sometimes skeptical that it can really be run as a home business.
Do I need to participate in the Idea Pitch Competition or the Speed Pitch Competition to enter the HBBPC?
The Idea Pitch Competition and the Speed Pitch event are preliminary competitions that provide a wonderful idea for mentoring and feedback. If you miss these competitions, you are still eligible to submit an entry in the HBBPC. Those who participate in the preliminary competitions will benefit from valuable feedback designed to help them be more competitive.
Does my business need to be established to win?
No. A business idea is sufficient, but judges are often more impressed by a business that has established a basic website and perhaps a few sales (though you are not eligible to compete if you have sales revenue before September 1st). The more immediate and detailed the plans to launch the business the stronger the chances of winning. Mentoring and clinics will help you get to where you need to be.
