Image by Yodel Anecdotal via Flickr
Many people wonder if it is worth the time to enter a business plan competition. It depends on where you currently are with your plan and your final motivation in writing a plan. If you real motivation is only to win the competition, I don’t believe that is the reason to enter. Rather, If you have a complete plan and are raising funds or if you need further motivation to complete your plan, entering is a great idea.
A current client of the BIZ, Energy Control Technologies, ended up taking second place in last year’s Iowa Business Plan competition. They submitted the plan they had previously developed making only minor changes to meet the contest requirements.