Tuesday, August 20, 2013

Flagstaff Business Plan 2013 Wrap Up

In June of this year, the Flagstaff Chamber of Commerce teamed up with the Northern Arizona Center for Entrepreneurship and Technology (NACET) to create Flagstaff's first "Business Plan Competition."

As an effort to foster startups in Northern Arizona, this competition brought in applications from entrepreneurs and existing small businesses alike to compete for a chance at a large pool of resources supplied by the business community. 
The prize to the winners of the competition included:
  • 6 months office space at the NACET airpark office (all utilities and internet service included)
  • 1 year NACET Affiliate membership with start-up business support and direction.
  • Business Mentor Support including legal, marketing, branding, business planning and more
  • 1 year Chamber membership with industry introductions and networking opportunities
  • Live Radio Interview on the Chamber Business Hour and copy of the show for promo use
  • Access to tools and technology that will help you launch your business (conference rooms, video podcasting, video conferencing and more)
  • 7 hours of marketing consultation from a variety of marketing experts
  • 3 hours of intellectual property law consultation
  • 3 hours of IT consulting
  • 4 hours of graphic design time
  • A free run of business cards
Out of the plans received, five finalists were chosen to present to a panel of local entrepreneurs and business expert judges and two winners were selected and each were awarded the prize package.

A business plan is defined as : "a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals." The plans received from hopeful business owners in the Flagstaff community expressed more than business goals; they showed people's hopes and dreams for this community and for innovative new organizations to solve a variety of perceived problems.

The winning businesses were Local Works, a community workshop where people can design, build and create their ideas; and Volcano Ukulele, a high quality ukulele shop originally founded in Hawaii. Each spearheaded by Flagstaff locals who plan to grow and expand their businesses with their newfound access to excellent resources from NACET and the Flagstaff Chamber.

"The prizes and grant I won from the Flagstaff Business Plan Competition will help me in overcoming the financial burdens I face in starting a business, as well as building my knowledge base and helping me to renovate my location." - Joseph Davidson, Local Works

Paul Taylor (left) and Joseph Davidson, the winners of the 2013 flagstaff business plan competition

1 comment:

  1. Thanks for Sharing! This is the most common "plan" amongst business owners, but typically, it isn't really a succession plan. business owners tell themselves that they will simply sell the business when they're ready to retire and that will be the end of it. Nice Post!