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The 19th
Annual John Ruffatto Business Plan
Competition will have two divisions.
Students are required to indicate on
their entry form which division they
would like to compete in. It is to
their advantage to select the division
that most closely matches the proposed
new business venture. As such, please
read the following descriptions below
carefully before selecting your
division:
High Growth Potential:
High Growth Potential ventures generally
have the following characteristics:
-
Potential to be viewed
as an attractive equity investment
opportunity by angel investors and/or
venture capitalists
-
Potential to make an
impact on the economy in which they
operate through significant job and
wealth creation
-
Involve developing a
product or service that is innovative
in nature and has the potential to be
sold internationally (i.e., sales for
these ventures are not limited to a
single community, state, or region)
-
Can be based on a
breakthrough technology or the
application of a technology in a new
way
-
Business plan is
relatively focused on sales growth and
expansion
Lifestyle Businesses:
Lifestyle companies
include small consulting companies,
local restaurants, laundromats, barber
shops, hardware stores, and so on.
Lifestyle businesses generally have the
following characteristics:
·
Local businesses that
will likely never have yearly sales
greater than $1-2 million in a year
·
Business is not primarily
focused on increasing the wealth of
investors
·
Instead of money, the
most common motivation of the lifestyle
entrepreneur is a desire for
independence. This includes the desire
to work for themselves, and run a
business that would fit around their
lifestyles and ages
·
Lifestyle businesses are
generally designed around the
entrepreneur’s lifestyle goals rather
than financial rewards
NOTE:
Selection Judges reserve the right to
place teams in the appropriate
division. Finalists invited to the
competition will be notified regarding
which division they are assigned to. |