WHAT JUDGES LOOK FOR IN A BUSINESS PLAN
All good business plans convey a sound business idea. The actual written plan can do a lot to help you secure financing, because, when well done, it demonstrates that you have considered the relevant key variables that are important to the success of the idea.

Judges in The Maverick Challenge will be looking for the following:

• Viability - Is the opportunity reasonable and supported by a sound execution strategy?
• Realism - Have the assumptions behind the plan been tested in the market to determine the need for the solution being proposed? Does the plan allow for contingencies?
• Competitiveness - Have you identified competitors and enumerated your competitive advantages? Can the business successfully resist competitive pressures?
• Maturity - Do the plan authors understand the nature of the business they are proposing, and are their assumptions, projections, and solutions realistic?
• Experience - Does the applicant have a management team, or can he/she assemble one, that has the breadth and depth of experience required to make the plan a success?
• Dedication - How has the team evidenced the tenacity required to launch and grow a business?

In addition to the above, attention to the following nuts and bolts will help:

• Format - Follow the structure given to you by the PitchThenPlan system.  This will help put your plan in a neat and easy to follow format.
• Writing style - Write for the educated, intelligent layman.  Avoid jargon.
• Graphics - Graphics should help tell a story. Use them where they make sense.
• Edit and re-edit - Before submitting your plan, run it by people who will give you an honest assessment-about your idea and how it is presented. Typos, misspellings, and grammatical errors should be avoided at all costs.

JUDGING
The competition is intended to simulate the real-world process of entrepreneurs soliciting start-up funds from early-stage investors, successful entrepreneurs, and community leaders. The judges function as investors deciding on which business venture they would most likely fund. The quality of the idea, the strength of the management team, and the clarity and persuasiveness of the written plan and oral presentations, all influence the judges’ decisions. Ultimately the winning team should be the team in which the judges would most likely invest their money.  Please note, this process is a simulation only.  Judges will not actually fund the winning business plan.

The ranking of the teams is guided by the scorecard (described below), but should be consistent with the approach that would be used by an early-stage investor.

Final written business plans must be turned into the Columbus Area Chamber of Commerce by Monday, December 1, 2008. Written business plans will be reviewed by the judges and top teams will then be chosen to give oral business plan presentations.  These oral presentations will be scheduled between Tuesday, January 6, 2009 and Friday, January 16, 2009.

Judging Criteria
Judges will rely on the following criteria in judging the competition:

1. The commercial potential of the business, with high-potential, growth oriented businesses likely to be viewed more favorably.
2. The likelihood that the business described in the plan can achieve a sustainable competitive advantage.
3. The decision of the judges is final, including interpretation of the rules.
4. Judges will not sign a Non-Disclosure Agreement (NDA) in connection with performing their duties for this competition. It will be the responsibility of the students to protect their intellectual property.
5. Judges agree not to initiate a professional relationship with individuals who have an active business plan in the Competition. Judges will excuse themselves from discussion about and voting on students in the Competition if the judge has an existing personal or business relationship with the student.

Scoring Criteria
The winners of the competition will be determined by the judges’ ranking of the teams. The ranking will be based on the judges’ willingness to invest in the company as noted above. The ranking will be completed by the judges for both the written and the oral parts of the business planning competition. Judges will rank the teams from 1 (team most likely to receive funding) to 6 (team least likely to receive funding).

Please note: The scorecards are designed only to assist the judges in evaluating the individual components of each team in order to develop their overall rankings.  Scorecard rankings are in no way seen as the final decision of the judges.

Scoring for Written Business Plan
Judges will review the written business plans for each of the teams involved in The Maverick Challenge. They will assess the written business plan, focusing on key elements and the effectiveness of the financial data.

The written component should follow the PitchThenPlan outline.  Failure to do so may result in disqualification from The Maverick Challenge.  To view the PitchThenPlan program and other resources for the competition, visit the Resource Page.

Scoring for Oral Presentation
Judges will listen to and evaluate the oral presentations of the teams involved in The Maverick Challenge. They will assess the poise and professionalism of the presentation as well as evaluate the perceived viability of the venture.

The quantitative assessment provided by the Scorecards is only meant to serve as a guide to the judges for ranking the teams/individuals. The rankings plus which business ideas the judges would invest their money will both be used to determine a winner.  All decisions made by the Judging Committee are final.