Why test your business project with a contest
Each year, the calendar of the Montreal area business community provides a number of recurrent or seasonal activities. Thus, several contests or business competitions give entrepreneurs in search of funding the opportunity to compete among themselves for numerous awards including scholarships, coaching and investment services to start or to consolidate their projects. Although the essential of the approach to win, it is worth to participate fully to the exercise in order to create the synthesis of one’s idea, sell it in a short presentation or master the financial aspects to show off to the potential investors. Everything is made to give heart to the task of gathering scattered data of one’s project to write an understandable document and the chance to win whatever happens. Indeed, no effort is lost. The elements used in a competition can be used for another but mainly for your own organization and evolution. It is by introducing yourself and presenting your idea that you can correct it, master it, and sell it better. Don’t forget that you are an entrepreneur or a budding entrepreneur and the sale and networking are essential activities for you to develop. Last point the jury people often are management consulting professionals or entrepreneurs themselves. They are well placed to give you feedback on an idea that you believe is good but that will only find little response once on the market. Of course they can be wrong, but the experience and intuition of an external third party to evaluate your project is always welcome. Finally, there are several possible contests made available by organizations animating the entrepreneurial life in the greater Montreal area but I would draw the attention especially on the ‘Pitch the Dream’ business competition of the Ujamaa initiative for Black entrepreneurship (UIBE) which this year is in its 5th edition and which offers scholarships and a mentoring to the first three prime contractors selected folder and presentation (‘pitch’). In five years it is several entrepreneurs who have participated and who did not fall short. I would like to congratulate and thank them as much as the winners because all have had a dream that they believed good to wear a competition space, a few months or a life. The black community demonstrated much creativity and initiatives for this competition is for us an opportunity to take the pulse of our business culture to see innovation quietly making its place for greater affirmation and the creation of a common heritage.