outline judging criteria goodbad clean, well organized alignment issues lesson #1: the details...
TRANSCRIPT
Outline
Competition Requirements
Ten Lessons
A Bonus Lesson
Judging CriteriaSocial Impact & Innovation (40% Weight) 1.Social Impact Analysis - What is the specific need the social product or service fulfills? Who is helped? How are they helped? How many are helped?
2.Integration of Social & Financial Missions – Do the venture's social and financial goals align?
3.Innovative Service or Product – How is this approach innovative or unique? Can the innovation be leveraged through other organizations to bring about faster or greater social returns?
Judging CriteriaViability (35% Weight) 1.Business Model - What is the business model for delivering the social innovation?
2.Financial Return on the Investment (if applicable) – Are the venture's financial goals measurable?
3.Fundability – Does this venture have the potential to receive financial support from additional investors/donors?
4.Management Team – Will the team submitting the venture be able to create the venture and implement the plan? Do they have the management experience and expertise in relevant markets and industries?
5.Marketability – Is there a demand for these products or services in the marketplace?
Judging CriteriaStrategic Plan (25% Weight)1.Scalability - Is there potential for growth or replication of the venture?
2.Performance Benchmarks – Does the venture have clear methods to track, monitor, and access the performance milestones articulated in the business plan?
3.Risk Assessment & Contingency Plans – Are there risk factors associated with the organization and development of the venture? Is there a plan for mitigating them?
Judging CriteriaBPC1.The purpose of the company (15%)
2.The products and services (15%)
3.The market and marketing strategy (35%)
4.Management team (25%)
5.Financial summary (10%)
Good Bad
Clean, well organized Alignment issues
Lesson #1:The details matter.
Good Bad
Covers essential items.
Too much information. Know what to leave out!
Lesson #2: Executive Summary
They read it first, but you should write it
last.
Good Bad
Has a simple statement and a
thorough statement.
(See Lesson #5.)
Lesson #3:You should be able to
say it all in a minute or less.
Lesson #4:No one should wonder what problem you’re
solving.
Good Bad
Talks about pain and its solution.
Ahhhh! Another wall of text!
Lesson #5:Sentences and
paragraphs should be your last resort.
Good Bad
Detailed coverage of market, risks, and competitive
advantage
(See Lesson #5.)
Lesson #6:Know the market well and show you know it
well.
Good Bad
This section is about the quality of the team, not necessarily the
plan.
Some simple, flattering pictures
would be nice.
Lesson #7:They should know who you are, not just what
you do.
Good Bad
Standard, clear format
Crazily optimistic
Lesson #8:Overconfidence in pro formas tells a story of failure, not success.
Good Bad
Interesting ideas for measurement
Under researched and narrow in
scope.
Lesson #9:Social Impact is the most important consideration
and motivation.
Good Bad
Good coverage of investment and
exits.
Needs a more detailed use of
proceeds.
Lesson #10:Tell them what you need, and why it’s worth their
time and money.
Lesson #1:The details matter.
Lesson #2: Executive SummaryThey read it first, but
you should write it last.
Lesson #3:You should be able to say it all
in a minute or less.
Lesson #4:No one should wonder what
problem you’re solving.
Lesson #5:Sentences and paragraphs should be your last
resort.
Lesson #6:Know the market well and
show you know it well.
Lesson #7:They should know who you are, not just what you do.
Lesson #8:Overconfidence in pro formas
tells a story of failure, not success.
Lesson #9:Social Impact is the most
important consideration and motivation.
Lesson #10:Tell them what you need, and why it’s worth their time and
money.
Bonus Lesson
Bonus Lesson:A well researched plan persuades, even if they
don’t read it.
Thank You
socialventure.byu.edu