Business & Career Library

PowerUP! Competition: Business Plan Elements & Judging

Select Brooklyn Public Library (BPL) locations will be open on Wednesday, December 24 from 9AM-1PM. All BPL locations will be open on Wednesday, December 31 from 9AM-1PM.

 

All BPL locations will be closed on Thursday, December 25, 2014 and Thursday, January 1, 2015.

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Business Plan Outline and Judging Criteria

For the purposes of the PowerUP! Competition, your business plan should follow the outline suggested by the competition and is available in the document below. 

The outline will be reviewed in the appropriate classes.  The sections on market research and analysis, as well as your marketing strategy, will be covered in the Market Plan Class, the financials will be covered by the Financial Projections Class and the other sections will be covered by the Business Plan Basics Class. 

The Start Up Costs Template and the Cash Flow Spreadsheet  will be introduced in the Financial Projections class in May and you are strongly encouraged to use them.  These documents will be posted in May at the time the class is offered.

The judges assign a score to each of the nine sections, plus award points for the overall quality of the plan.  The judges are looking for a plan that does an excellent job meeting the following criteria:

  1. A convincing plan that is extremely well researched and written 
  2. A plan that is thorough and addresses all elements listed in the Elements of a Business Plan as applicable to the particular business
  3. A plan that describes a business that is viable in every way and likely to succeed

Additional considerations is given to the following:

   1.  A clear need and use for the $15,000 award - plans should explain the impact of the award.  

   2.  The positive impact the business will have on the community -  the role your business will play in providing needed products or services, jobs, ecological alternatives, neighborhood revitalization, assistance to the underserved, stimulus to the local economy, etc.

 Outline for the PowerUP! Business Plan.

Financial Projections:  Cash Flow and Start Up Costs Templates will be posted after the Financials Class meets.