All teams should have a business plan. Your business plan will help define your team and what the team goals are. These plans will help drive your fundraising and will help potential sponsors.
FRC requires a “business plan” to be given to the judges in the pits if your team wants to compete for the Entrepreneurship Award.
When and how does one submit for the Entrepreneurship award? It is not clear from reading the rules? Is it done by the 18th like the other awards or is it submitted the day of competition to the judges.
All awards except for the Chairman’s Award, Woodie Flowers Award, Autodesk award(s), and Website Award are judged and “submitted” at the event. Look at the table of awards in Section 4; the Entrepreneurship Award submission is turned in during the pit interview process.
Yes,
you must always have it turned in on the 1st day of real matches.
Judges will come around your pit to do the interviews.
One bit of a suggestion is not having your drivers do it as they will be busy competing and fixing the robot between matches, if applicable.
What exactly does a business plan entail? Are there any teams that use their business plan to make them self-sufficient – so that they don’t need as many sponsors from year to year?
Last year, at the regionals we attended, the Judges asked for it as they came around. It was very important that your pit crew knows what it is and where you have tucked it in your pit.
Your business plan will vary based on your team goals. Self sufficient may not be the best word, I’d say it is your plan to make your team sustainable: how you make sure your team has enough students, mentors, school or group support, funding, etc to be able to survive in the future.
Have at least two copies available, one to give to the judges, and one to keep in the pit to show others.
We are putting together “Judge Packets” for our teams this year. It will have the business plan, RCA submission, WFA submission, and a one page summary covering other information that is relevant to awards we are striving for. These are handed to the judges that come by our pit.
The packets are still a design in process. As soon as we have it done will post to CD-Media.
I think I just had the wrong idea of it. I thought it was on how to make your team a viable business. Silly me.
But yeah, I’ve noticed that our team really isn’t as short on money as some other teams, which I guess would be thanks to our business plan. One of my friends on another team mentioned that their team was already a few thousand dollars in the hole. :ahh:
But, they’re a new team, and hopefully they’ll manage to find a few companies that can help sponsor them. All the same, it makes me realize how great it is that we have people on our team that know what they’re doing with the money. And I’m glad it’s not me, or we’d be broke before any competitions even started. :yikes:
Business plan -
- what are you ‘in business’ for, what are you trying to accomplish ?
- what’s the strategy and tactics ?
- etc !!!
Question, actually 3 questions
Q. What does Krispy Kreme sell ?
A. goods. specifically donuts
Q. What does a barbershop sell ?
A. services. haircuts
Q. What does the Red Cross ‘sell’ ?
A. Their mission !!!
Moral of the story ?
Your team should have a business plan that explains what you do and and how you do it. If you have a mission or objective along the lines of an inspirational non-profit then you should be selling mission. If your audience ‘buys’ your mission then you will likely earn income.
If you are just exercising yourself in participating in hobby without impact, you are probably selling donuts.
A well run ‘business’ has a business plan. A well run non-profit ‘non-business’ has a business plan too !!
