You could be attempting to determine the way to contact Mark Cuban. Effectively, I’ve a narrative which will provide help to. Again in late 2011, I obtained 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 — referred to as My School Hustle, a bartering platform for faculty 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 suppose the competitors’s organizers have been on to one thing).
And whereas my staff didn’t win the highest prize, we did get to satisfy Cuban — the results of making it to the semi-finals of a faculty business-plan competitors sponsored by MTV.
That’s the purpose I need to make: Should you by no means considered business-plan competitions as a supply of funding for your corporation, assume once more. These competitions can afford you a number of distinctive alternatives.
3 explanation why you need to begin competing at present
- You’ll be able to win startup capital and publicity.
- It’s an ideal networking alternative.
- Winnings are often awarded with none lack of enterprise fairness.
Now, right here is the data it is advisable to get began.
1. How do you discover competitions?
Take a look at websites like StudentCompetitions.com. You may as well search on Google utilizing a variation of key phrases equivalent to “pitch competitions,” “Bplan competitions,” “School entrepreneur competitions” and “Problem competitions.” Combine and match key phrases to drag up totally different outcomes.
Not a school pupil? No worries; there are different competitions for you, too. Strive looking out company-based key phrases, like “Dell pitch competitors,” “Microsoft pitch competitors,” and many others. Kind in any random tech firm you possibly can 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 maintain your eyes peeled, and all the time be looking out.
2. What likelihood do you may have 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 would possibly shock you that most individuals aren’t keen to place within the work and that rather a lot fewer folks apply than you would possibly anticipate. Additionally, keep in mind that you simply don’t must win each competitors.
One “sure” could make an enormous distinction in your corporation. Throughout faculty, I gained over $20,000 simply from competing in 5 marketing strategy competitions.
The essential factor is that, if you happen to’re a younger entrepreneur, it’s essential you benefit from each alternative you need to community. And these competitions are a good way to try this.
I stress this as a result of I competed in a contest a number of years in the past, and ended up successful second place. I then saved in contact with the winners, and some years later, once I reapplied, guess who the choose was? The man who had crushed me within the competitors a number of 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 it is advisable to know?
That story brings me to my subsequent level: networking. Crucial folks it is advisable to meet are the judges. After the competitors, go and discuss to them and get their contact info. Study extra about them; they’re judges for a purpose, proper? These might be potential buyers 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, you’ll want to take part in any pre-competition actions provided, as a result of the occasions’ organizers usually have optionally available coaching classes or on-line seminars to raised put together you.
Talking of coaching, do not forget that competitions are a good way to apply public talking expertise. You’ll all the time have a possibility to be in entrance of a crowd. If you’re not presenting, and there’s down time, you’re always speaking and assembly folks, which forces you to condense your thought right into a 30 second elevator pitch. You be taught to talk extra confidently and concisely.
5. How do you write your marketing strategy?
Drafting an in depth marketing strategy is crucial. An govt abstract could also be required for just some competitions, but it surely’s finest to only chunk the bullet and write a full plan. Your plan must be prepared, so you possibly can constantly apply for the varied contests.
Have some traction in your thought; earlier than the judges make investments, they should see validation. How have you learnt you’re fixing an actual downside?
My secret to crafting an excellent marketing strategy is straightforward: Be artistic! Make it stand out; maybe do an interactive marketing strategy, the place the judges can scan a QR code and be taken to a dwell 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 ideal expertise.
Associated Publish: The way to Win a Enterprise Plan Competitors