Supporting Document Guide
Applicants will be able to share one supporting document as part of their submission. This guide provides more context around what a supporting document might look like and other best practices.
What is a supporting document?
EXECUTIVE SUMMARY
An executive summary is a brief introduction to a business plan. It should be persuasive in nature and describe the business, the problem it solves, target market and financial highlights. Think of it like a mini business plan. Many people don’t have time to read an entire business plan, so they read the executive summary to decide if they want to read the rest of the plan.
Tips to get started:
Small Business Administration
What is a supporting document?
- It can be any additional content besides the video pitch that a competitor deems necessary in order to help the viewer understand their idea at a deeper level.
Examples of supporting documents could include: a written executive summary, Business Model Canvas, marketing flyer or other promotional materials, product menu, financial documents, etc.
Parameters of the supporting document file for the Big Idea competition: - One pages maximum
- One PDF File
EXECUTIVE SUMMARY
An executive summary is a brief introduction to a business plan. It should be persuasive in nature and describe the business, the problem it solves, target market and financial highlights. Think of it like a mini business plan. Many people don’t have time to read an entire business plan, so they read the executive summary to decide if they want to read the rest of the plan.
Tips to get started:
- Write it last. Because it highlights points from other areas of the business plan, it should be quick and easy to summarize once the business plan has been written.
- Keep it short and simple. It should be no more than 1 page long and written in the third person. Write in short, concise paragraphs and utilize bullet points, subheadings, charts or graphics, and/or other relevant illustrations.
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BUSINESS MODEL CANVAS
The Business Model Canvas is a one-page summary of the key aspects of an idea. It is used as an interactive tool to allow the creator to easily adjust and modify their planning as they discover more about the market and the value they can create for their customers
Helpful resources:
FINANCIALS
Many listeners of business ideas want to know one thing – the numbers. Applicants can prove their Big Idea is feasible through financial information such as:
MARKETING MATERIALS
How a business builds a relationship with their customers is critical. Sharing the marketing strategy and materials can help communicate how a customer base will be reached and maintained.
Marketing materials might include: a flyer, brochure, social media pages, etc.
Helpful resources:
MISCELLANEOUS
Again, a supporting document can be any additional content besides the video or in-person pitch that the you deem necessary to help the judges understand your idea at a deeper level.
Be creative and decide what your supporting document should be. The supporting document does not have to be one of the aforementioned documents.
The Business Model Canvas is a one-page summary of the key aspects of an idea. It is used as an interactive tool to allow the creator to easily adjust and modify their planning as they discover more about the market and the value they can create for their customers
Helpful resources:
- Strategyzer: www.strategyzer.com/
- Big Idea Canvas www.bigideacanvas.com/
FINANCIALS
Many listeners of business ideas want to know one thing – the numbers. Applicants can prove their Big Idea is feasible through financial information such as:
- Revenue Streams
- Pricing and Profit breakdown (includes Cost of Goods Sold)
- Projected net income statement
- Start-Up and operating cost assumptions
- Financial ratios
- Revenue Streams Explained hustletostartup.com/revenue-streams/
- Investopedia.com - Financial Ratios Explained www.investopedia.com/terms/r/returnoninvestment.asp
MARKETING MATERIALS
How a business builds a relationship with their customers is critical. Sharing the marketing strategy and materials can help communicate how a customer base will be reached and maintained.
Marketing materials might include: a flyer, brochure, social media pages, etc.
Helpful resources:
- Canva
- Microsoft Publisher
- Photofy
- Google Apps:
- Lucidpress
- Youidraw
MISCELLANEOUS
Again, a supporting document can be any additional content besides the video or in-person pitch that the you deem necessary to help the judges understand your idea at a deeper level.
Be creative and decide what your supporting document should be. The supporting document does not have to be one of the aforementioned documents.