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Most likely, you will want to host a number of mini-events prior to the final BPC. These mini-events allow you to connect with your target audience and ensure you get the highest quality submissions possible. Examples include kickoff and award events, educational events, and networking events.
Kickoff and award events
These are usually large, open events where people can find out information on entering the competition. This is an optimal time for having a keynote speaker deliver a strong message and get people excited about the competition.
Kickoff events are primarily designed to:
- Generate excitement about the competition on campus
- Persuade people to enter
- Raise money (with details on how to sponsor the competition included in the marketing kit)
- Provide information on the organizing team/recruit new organizers
- Help build community by encouraging interaction between the alumni, mentors, sponsors and the participants
Educational events
The fundamental goal of this type of event is to improve the business plans. These provide information on entrepreneurship in general, and tips for writing effective business plans. It’s primarily focused on students ready to enter the competition, and shouldn’t have to be as heavily promoted as awards events. Some common topics include:
- Identifying business opportunities/market analysis
- How to do market research (market sizing, distribution channels, companies in a certain industry, etc.)
- Key sections of a business plan (market analysis, legal issues, finance)
- Building a team, recruiting top talent
- Legal aspects of starting a business (legal forms to be filled and dues to be paid, etc.)
- Deal structure of investments
- Getting started (office space, incubators, etc.)
- Entrepreneurial “war stories”
Typical formats of educational events include:
- Single speaker lectures (renowned entrepreneurs, lawyers and other professionals)
- Panel discussions
- Workshop sessions with a lot of different professionals, primarily to get quick feedback on issues affecting the plan
- Clinics (lots of one-on-one sessions in the same place)
Networking events
These are generally informal, “cocktail party” gatherings. They give students a chance to make connections, form teams, and get in contact with competition organizers, alumni, sponsors, and mentors. You can have a guest speaker deliver a brief presentation, usually a ten-minute teaser speech. These events are an optimal time for word-of-mouth advertising—always try to get high quality contacts at the events. Organizer attendance is at these events is imperative, providing help with connections and public relations for the competition.
Managing the schedule of events
It’s of utmost importance to make sure contestants know when due dates are going to arrive. Make keynote events the deadline for major competition milestones, typically held at the beginning and end of the semester. Also, intermediate awards ceremonies (initial warm up competitions) give students incentive to get started early.
Educational events should have a progression from general to specific. Early events should focus on high-level entrepreneurship content, such as:
- how to identify markets
- problems to solve
- business ideas
- key issues in recruiting a team
- war stories or case studies from entrepreneurs, and competition alumni
Later on, you can change the content to become more advanced, including:
- detailed content on specific parts of business plans
- information on patents (should be addressed before entries are due—make sure they don’t prematurely disclose patentable information)
- difficult sections of the business plan—marketing, finance, legal issues
Note: it’s best to have events focused in this area only when teams are writing full plans.
For networking events, front load and end load them. Early in the semester, teams should form a core group of founders to get things moving. Near the time when entries are due, teams should look to address missing skill sets, if they have any.
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