Web Business Competition - Judging Criteria
The business plans submitted, as well as the presentation should be concise, understandable and interesting. Each round of the eBusiness Category will be judged using the following guidelines. For more information send us an email to
wbc@byu.edu.
The Company (10% Weight)
- Business purpose. Explain what business you are in and why (i.e., what market opportunity you are going to exploit).
- Give a brief summary of your company's history and current status, including whether the company is publicly or privately held, or a start-up.
- State your company's overall strategy and objectives (i.e., to go public in seven years, to command 10% market share after ten years, to reach $50 million in sales after five years, etc.
- If you are currently in business, describe your revenue growth and closeness to profitability.
The Products or Services (10% Weight)
- Describe important features and user benefits - relate features of the products and services to market needs and to the competition.
- Discuss pricing and margins for both your products and your competitors' products.
- Explain proprietary position - trademarks, patents, trade secrets, special production skills, proprietary processes, etc.
- Describe specific products and projects planned, their status, when due out, expected product life, and potential revenues.
- Articulate any regulatory or environmental issues, if any.
The Market and Marketing Strategy (25% Weight)
- Describe in detail what needs in the market you intend to satisfy (i.e., what situations in the market you intend to exploit). Who buys your products and why?
- Descriptions of the market - size, anticipated growth, key changes. What issues, if any, are driving or forcing the market to need your product/service.
- Competition - who they are, how much of the market they have, and their strategic position.
- Unique capabilities - what makes you different; what gives you a special advantage.
- Market penetration - how are you going to reach the market, (i.e., your market strategy - channels of distribution, promotion, pricing, etc. and the cost of the marketing program).
- Discuss the issues or circumstances that "drive" or create the market, (i.e., what compels people to buy).
Management (25% Weight)
- Very brief backgrounds of key individuals - why they can do this job, specific value they add to the organization, their past successes and achievements.
- History of working together as a team.
- Identification of immediate personnel needs and anticipated initial organizational structure.
Financial Summary (10% Weight)
- Funds required - how much you want to raise, both initially and subsequently.
- History of past investments, if any; offering(s), type of security, price, other terms, if appropriate.
- Best estimate as to how and when the investor will get his money back: indicate an exit strategy (i.e., mergers, acquisitions, or initial public offerings). Describe, if possible, similar businesses and what their returns to investors were.
- Describe funding needs at each stage of development along with each stage's bench marks or milestones to be accomplished.
- Simple projection of sales, revenues, income and expenses over a 3-5 year period ARE REQUIRED. State and briefly justify your financial assumptions.
- If you are an existing business, include a past financial history.
- Identify your liquidity strategy.
Web Business Impact (20% Weight)
- Potential for growth multipliers due to leveraging Metcalfe’s law (The Network Effect) and Moore’s Law.
- Role of networked information technology as a core component in the business plan.
- Potential to be a disruptive technology.
- Potential to have a global impact such as Google or Facebook.