Children & Family Resource Center to sponsor business plan competition

The Speak Out for Kids 2014  Business Plan Competition

Do you have an existing business in need of expansion assistance or do you have an emerging idea that needs a start? Do you want to make a positive impact on the kids in Henderson County?    Submit your great idea to the Promise Competition for a chance to win $10,000 for start-up or expansion of your business plan and a mentor to help you along the way.

The Children & Family Resource Center is looking for a few good ideas. To be exact, the local non-profit focused on the health and well-being of children, is looking for one really exceptional business idea that can positively impact the lives of kids living in Henderson County. Beginning January 1 - January 31, 2013, entrepreneurs and business owners are encouraged to submit a compelling business concept, along with a three minute or less YouTube video pitch, to the Promise Competition. A review board of local business owners, advisors and financial advisors will carefully comb through the big ideas, narrowing them down to five. The five finalists will receive notification by February 14, giving them two weeks to prepare for a final, live, pitch on March 1 at Speak Out 2014. A live vote on March 1, utilizing text voting, and review board comments, will determine the Promise Competition winner. To participate in the Promise Competition, applicants must be a resident of or have an existing business based in Henderson County. The contest is open to people who already have an existing business looking to expand, or to people who just have a great idea. The business plans must involve strategies that address 4 of the 5 promises shown to positively impact children.  Applications must include an executive summary of the business, including a description of the company or big idea, the five promises that the idea will address, competitive advantage, market analysis, financial highlights and management team. In addition, a written business plan with detailed information about the idea or product proposed, key financial data, customer definition, and an overview of how funds will be used is also required. Finally, all applicants must submit a three minute or less YouTube video that delivers their best pitch. "Video production should not be a cost-prohibitive barrier to entry: homemade, smart phone produced videos are encouraged," said Erica Allison, CEO of Allison Development Group, the marketing firm for the Promise Competition, the Five Promises campaign, and the March 1 Speak Out event. Overly produced videos will not be given special consideration. "Videos longer than three minutes will disqualify the applicant," said Allison. "We want people to deliver a highly focused pitch." Applications must be sent via email by January 31st, 2014 to: PromiseBiz@5promisesHC.org. Applicants should upload their videos to YouTube and send a public link along with their proposal, in order to be considered for the competition.