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Webinar 1 Dec 2009 High School Business Plan Competition 2010 Northern Michigan University

Webinar 1 Dec 2009 High School Business Plan Competition 2010 Northern Michigan University. ramtmann@nmu.edu. Competition Important Dates. January 8: Top four (4) Regional BPA competition winners identified and invited. January 8: Non-BPA school participants submit initial plan to NMU.

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Webinar 1 Dec 2009 High School Business Plan Competition 2010 Northern Michigan University

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  1. Webinar 1 Dec 2009High School Business Plan Competition 2010Northern Michigan University ramtmann@nmu.edu

  2. Competition Important Dates • January 8: Top four (4) Regional BPA competition winners identified and invited. • January 8: Non-BPA school participants submit initial plan to NMU. • January 18: Top two (2) Non-BPA school winners identified and invited. • March 26: Final written plan due to NMU Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  3. Competition Day • April 8 (morning): Students attend competition at NMU. • 10 minute oral presentation • Judges get 5 minutes for questions • Lunch provided for students and teachers • Winners Announced • Prizes awarded • All invited to observe college competition in the afternoon. Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  4. Prizes • 1st Place $500 • 2nd Place $250 • 3rd Place $100 Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  5. Rules for Participation • BPA Entrepreneurship competition rules will be observed • Students will develop a written Business Plan • Identify and utilize internal and external resources • Identify customer base including • Consumer and organizational markets • Demographics • Identify customer relations or markets • Identify successful price selection including • Reasoning • Methods used in determining price Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  6. Rules cont. • Present an analysis of the financial data required for starting the business • The plan will be for a start-up business in your local community • Franchises or existing businesses do not qualify Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  7. Written plan must • Not exceed 15 pages • Excluding • Title page • Table of contents • Supporting Documentation • Signed Statement of Originality • Follow the Business Plan Format in the Style & Reference Manual Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  8. Plan Must Include • Title Page • Table of Contents • Executive Summary • Description of proposed business • Objectives of the business • Proposed business strategies • Product(s) and or Service(s) to be provided Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  9. Plan components cont. • Management and ownership of the business • Marketing analysis • Financial analysis • Loan amount if required • Income statement • Balance sheet • Cash flow statement • Other analyses as necessary • Support Documents • Statement of Originality Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  10. How do you succeed • Consider yourself to be a potential investor in the business being proposed • What information would you need to make you willing to invest in this business? • What information would convince you that the potential business owner has the competence to succeed in this new venture? • Has the potential business owner proven there is a viable market for their product or service and that there are customers who will pay for that product or service? Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  11. What support is available? • You may utilize two hours of mentorship support provided by either • NMU faculty or skilled Entrepreneurship students • Who to contact for this support • Mr. Ray Amtmann • 906-227-2647 • ramtmann@nmu.edu • Support is available during February or March Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  12. Online resources • http://cob.nmu.edu/amtmann/High_School_Competition/How%20to%20write%20a%20Business%20Plan/How%20to%20write%20a%20Business%20Plan.html • Presentation on “How to write a Business Plan” • http://mediasite.nmu.edu/NMUMediasite/Catalog/pages/catalog.aspx?catalogId=d74b5546-4377-4d2a-8da2-61d037ede8f1 • Media site live presentations of this and future Webinars on this competition Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

  13. Online resources cont. • These sites are available 24-7 and can be played, stopped, and replayed as often as you choose • Webinars • Tuesday 2 Feb 10:00 AM • Tuesday 23 Feb 10:00 AM Mr. Ray Amtmann 906-227-2647 ramtmann@nmu.edu

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