Pennsylvania Entrepreneurship Challenge Requirements
Describe Your Business Idea.
What products or services will you sell?
How Does Your Business Solve a Problem?
a. What is the customer problem?
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b. Does your idea satisfy a need, want, or desire?
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c. Is there sufficient demand for your product or service?
Who is Your Competition?
Being an expert of your competition will increase your chances of success.
Competitive Advantage?
a. What sets your business apart from your competition? How are you different?
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b. Do you have a unique benefit?
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c. Do you have a sustainable competitive advantage?
Create Your Elevator Speech!
An elevator speech should answer why an investor would want to invest in your business idea.
Who is Your Target Market?
Who is likely to buy your products or services?
What is Your Sales Territory?
a. What is the size of your market?
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b. Is it local, regional, national, etc.?
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c. Are there enough potential customers to make your business successful?
Funding Summary:
a. What are your start-up costs and how will you fund them?
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b. How much will it cost to build your product or service?