Women 2.0 Business Plan Competition: The Napkin Business Challenge

When I first started out in business over 10 years ago, I didn’t have a written business plan. Yes, I had ideas. Yes, I had connections, ways to market and a pretty good idea of how much money I wanted to make. But a business plan? Nope, didn’t have that. Primarily because, like many other new entrepreneurs, I didn’t think I needed one for such a small-time idea (I started out as a resume writer). Small time as in a one-person operation, low overhead, etc. But, I was wrong. Any business that you go into, even if it’s sweeping sidewalks, has to have a definite plan. You must know where you are, where you want to be, how you are going to get there and be able to articulate that to others.

Or perhaps you were different than me and you DID have a business plan when you started out. If you did, you definitely started out way ahead of the game. Typically, business owners who start with a business plan are better prepared and more likely to enjoy success than those without one.

(Photo Source: stock.xchng)

To help motivate and educate you on your quest to start a business plan, the Business Plan on a Napkin Competition is for women who have an idea but need an audience and funding. The winners of the Women 2.0 Business Plan Competition will enjoy:

“Selected finalists will pitch in front of a judging panel and live audience at the Women 2.0 Conference and Pitch Night on May 10th for a chance to win one-on-one meetings with some of the top venture capital investment firms in the world. Previous year’s prizes were meetings with Michael Mortiz, Sequoia Capital and Tim Draper, Draper Fisher Jurvetson. This year, prizes include a meeting with Esther Dyson.”

The submission deadline for the competition is April 1, 2008. So, if you have an idea and just need to get it out, be sure to enter this competition.