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Business Idea Competition |
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TutoringZone Business Idea Competition
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When you own your own business, every day is a learning experience...
When you own your own business, every day presents opportunities to grow and to learn and to manifest your own destiny...
Not a day goes by that every one of us here at TutoringZone says "They never told us about THIS in business school!!"
Not a day goes by that we all say (with sarcasm) "This must be the glamorous side of owning your own business!"
Most importantly, not a day goes by when we aren't grateful that we followed our own path...that we took the road less traveled...that we have the chance to nurture and develop OUR DREAM and to work for the hardest boss we will ever know...ourselves!
At every review session, we meet students with ideas for their own business. Why don't students develop more of these ideas and turn them into businesses? There are lots of reasons... Some of the ideas stink. But other ideas are really good, yet they never receive any attention. Sometimes this is because the individual is afraid or does not have the resources to take the idea and turn it into a reality. That's where we saw an opportunity to help.
In an effort to promote the entrepreneurial spirit at UF, we have created a Business Idea Competition. The rules are simple and the competition is open to any and all undergraduates at the University of Florida.
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The first step in developing your idea is to write a business plan. If you will be seeking financing (whether from a bank, your parents, the government or private investors), you will need to provide prospective investors with a business plan. Even if you will not be seeking financing, it is a GOOD IDEA to write a business plan. Why? Well, a business plan helps you think through all of the issues and helps to solidify your action plan. The exercise of writing a business plan often highlights strengths and weaknesses before it involves real money! |
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Now, telling someone to write a business plan is kind of like telling a beginner to swing away at a golf ball. Easier said than done! Writing a business plan can be a daunting task, even for a seasoned professional. That's why we developed the Business Idea Competition. We don't want you to write 30 pages, with financial projections and such...in fact, we won't read that much! We want to hear about your idea...five pages max. (For all of you lawyer types out there, the competition will include appropriate safeguards for your intellectual property. The idea belongs to you and you alone...we are here to help if we can!) |
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This competition is being done in association with UF's Center for Entrepreneurship and Innovation (CEI). The CEI runs a Business PLAN Competition each year and awards prizes totaling $25,000. The CEI provides free workshops, a 'Schmoozefest,' with the chance to talk with venture capitalists and other influential people, and many other resources for those that would like to prepare a serious business plan for their competition. Professor Bill Rossi, the Associate Director of the CEI and one of the judges for the TutoringZone Business Idea Competition, teaches a class called 'GEB4905: Principles of Entrepreneurship'. We have been told by MANY students that this class is a wonderful experience while fulfilling a 4000-level elective requirement. For more information on the CEI and their Business Plan Competition, click here. |
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We have worked with the CEI so that our Business Idea Competition can serve as a prelude to the Business Plan Competition. The timing works perfectly. Write up your idea...then, the winners of our competition will have plenty of time, along with a great number of resources, to turn the idea into a plan. Then they can compete for some big money and the chance to turn the plan into a viable business. |
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2007
| First Place: The Nighttime Navigator Taxi |
| Second Place: Kook Wear |
| Third Place: HIKE |
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First Place: One team (of 1 or more students) will receive $500 cash. Also, this team will be matched up by the CEI with a 'Coach' to help them prepare for the CEI's Business Plan Competition. Finally, the team will receive a free copy of the New Venture Creation textbook by Timmons and Spinelli ($130 value) from the CEI. It's the best textbook for preparing a business plan. |
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Second Place: One team will receive $250 cash. Also, this team will be matched up by the CEI with a 'Coach' to help them prepare for the CEI's Business Plan Competition. Finally, the team will receive a free copy of the New Venture Creation textbook by Timmons and Spinelli ($130 value) from the CEI. It's the best textbook for preparing a business plan. |
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Third Place: One team will be matched up by the CEI with a 'Coach' to help them prepare for the CEI's Business Plan Competition. The team will also receive a free copy of the New Venture Creation textbook by Timmons and Spinelli ($130 value) from the CEI. It's the best textbook for preparing a business plan. |
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All entrants will be evaluated based on 3-5 page explanation of their Business Idea (in the format required). |
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Make sure that you have:
- Plenty of information about the idea
- Specifics about the idea
- Well organized idea
- Proper format click here. |
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The submissions will be judged based on:
- The overall feasibility and profitability of the idea. |
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The competition is open to any and all undergraduates enrolled part-time or full-time at the University of Florida. |
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Complete the Application |
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E-mail your completed Business Idea to
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
before December 1st, 2009. The subject of the e-mail must be "[your team name] Business Idea" The Business Idea may be included in the body of the e-mail OR attached as a Microsoft Word or Adobe PDF document (using the Microsoft Word template we have provided) . Your entry must be received on or before December 1st, 2009. |
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