Between May 15, 2009 and June 30, 2009, submit a well written entry on your business. Entries must not exceed five hundred (500) words and must include the following:
1. a description of your business
2. a discussion of your business model
3. capitalization – how is your business funded?
4. differentiators – how is your business different from your competition?
5. years of relevant experience
6. your plan for using the prize to “boost your business”
In order to qualify businesses must:
1. have at least one salaried employee, aside from the owner
2. be incorporated for five (5) years or less at the time of entry
3. be a for-profit entity
4. have annual revenues between $0 and $5,000,000
$50,000 in cash and $50,000 worth of advertisement
According to Brett Nelson Entrepreneurs Editor of Forbes Magazine, “Forbes wants to celebrate gutsy small companies navigating this recession. Buoyed by a panel of experts, our contest aims to identify sound businesses with the most promise for growth–and to educate millions of other entrepreneurs on the hunt for capital.”
See official rules and entry information at www.forbes.com/byb.
These principles keep me on course and facilitate every business and social interaction I have. This week’s principle is below.
Principle 2: Make Partners
If you don’t share, no one can help you. It’s that simple. If you don’t enlist your colleagues, business associates, family and friends in your goals, they can’t support you in your mission.
In any interaction, there are always two sides: a buyer and a seller. All parties are there because at some level they want the transaction to occur. Find the common ground and engage the others in seeing the mutual benefit. Once all parties have ownership of the outcome, they will want a positive result. From that common ground, you can all work toward the same outcome – if you make them your partners.
If you missed my preview posts, get caught up here, Principle 1: Tell the Truth.