Submission Guidelines for New Business Idea The 6-page Executive Summary is a preliminary overview of the business plan you will develop over the next few months. The purpose of this is to start the process of formulating ideas that will be tested as you develop your business. The executive summary with market/industry analysis will be submitted electronically as one document: Cover sheet (optional) Illustration or logo Business Name Tag line or motto Info page (required) Note: Cover page and Info page can be combined Business or team name First and Last Name of all team members Email address for all team members Daytime phone number of all team members First and Last Name of assigned coach, if applicable Executive Summary (6 pages): the outline for this document is detailed below. This component of the Great Lakes Entrepreneur's Quest is designed to introduce the business concept in an organized and concise manner that can be reviewed, discussed, and elaborated through the business planning process. This is about creating an enticing executive summary to encourage further evaluation of an idea, innovation, or business concept to ultimately determine if it is feasible, profitable, and/or fundable through investors. There are no "right" or "wrong" answers at this time. The Executive Summary is designed to pique the reader's interest and make him or her want to review the business plan. The plan should be no longer than six(6) pages. The elements of the GLEQ Executive Summary are: Concept Summary (1-2 paragraphs) Describe the overall product or service being offered and the need that it is addressing. Include a short statement about what the advantages or unique characteristics of the product/service are Market/Industry Analysis (up to 2 pages) Identify the specific market segment addressed by the product/service and its approximate size. Outline trends in the industry including growth and key purchasing factors and other special factors impacting the industry (government regulation, patents, etc.) Recognize critical factors impacting the industry such as government regulations, approvals or licensing requirements. Product/Service Description (combined with items 4 & 5, less than two pages) Outline the product/service Identify what the customer will gain from the solution Contrast solution with existing products/services Revenue/Business Model (combined with items 3 & 5, less than two pages) Describe the method for generating revenues Describe potential customers (target market) in general terms (one should use either consumers or businesses initially - not both, the other group can be added at a later date) Consumers: Age, ethnicity, marital status, children, education, geographic area, income, home-ownership, hobbies, etc. Business: Number of employees, annual sales, industry, technology applications, import/export, geographic area, special department etc. Identify other potential opportunities for generating revenue Describe initial growth in revenues Competition (combined with items 3 & 4, less than two pages) Identify competitors including revenue size or market share if possible. Contrast solution with existing products/services offered by competitors Describe market acceptance or key advantages for competitors Management Team (combined with item 7, less than one page) Describe existing management, including brief description of relevant experience Recognize additional management needs to be filled Financials (combined with item 6, less than one page) Preliminary financial needs For what period Use of proceeds Preliminary financial model including revenue projections, estimated operating costs and anticipated profitability over first 3 to 5 years. Outline exit strategy and estimated time frame to reach exit opportunities

Submission Guidelines for Emerging Company In the Fall Cycle of the GLEQ Business Plan Competition, the Emerging Company category submission guidelines are the same as the New Business Idea category guidelines. All participants will be submitting a six-page Executive Summary. (See Guidelines above.) The Emerging Company category participants submit a 12-page Business Plan during the Spring Cycle of the competition. The best plans will convey their message within an 8-12 page plan as appropriate to their specific business. (For example, some businesses might need three pages to describe their marketing plan, while others might need just one or so.) The plan will also include a summary of assumptions for the business, as well as a list of near-term milestones for the company. It is best to consult with your coach or mentor on the extent of detail for your plan. Please see the Business Plan Outline below to gauge what will be required of your plan. Finalists: Approximately a half-dozen finalists will be announced at the Spring Cycle Award Ceremony to deliver a three-minute pitch to judges. This pitch and subsequent question-and-answer session will also factor into the final decision for prizes (approximately 25% of your final score). All EC contestants should plan on preparing their 3-minute pitch upon arriving to the event finals. The Business Plan will be submitted electronically as one document: Cover sheet (optional) Illustration or logo Business Name Tag line or motto Info page (required) Business or team name First and Last Name of all team members Email address for all team members Daytime phone number of all team members First and Last Name of assigned coach, if applicable Business Plan (12 pages) Business Concept and Value Proposition (must include significant milestones to prove concept) Target Customer Segments and Market Sizing Revenue Model Competition and Market Differentiation Management Team Marketing and Sales Business Systems and Organizational Structure Financial Planning, Implementation Plan, and Financing Opportunities, Risks, and Countermeasures Appendices (Organizational Structure, Income Statement, Balance Sheet)