A business plan is a comprehensive, self-contained document that:

• Presents in detail the business opportunity for a new venture
• Presents the product or service that the venture is to offer to realize this opportunity
• Identifies the resources needed
• Exposes the risks and rewards expected
• Introduces the founding team and proposes the organizational building process

Potential audiences for a business plan include future investors, employees, partners, advisors, customers, suppliers, regulatory bodies and other individuals who may not be technologically savvy or familiar with the subject of the business plan. The quality of the write-up is a significant success factor.

Every business plan begins with an executive summary -- a short compelling presentation of the key ideas of the plan. The executive summary should not be confused with an introduction, as it can function as a stand-alone document.

To help you focus while writing an executive summary (as well as the business plan), listed below are the key areas that should be addressed:

• Opportunity Statement:
  
How would you describe the business to a potential investor or team member if you only had a short elevator ride to share together? What is the nature of the opportunity, and why is here an opportunity now? What is the proposed solution?


• Product or Service Concept:
  
Develop a brief concept statement for the product or service that can be shown to potential customers. How will the product be used? What are some unique features?


• Market Opportunity and Strategy:
  
What existing problem will you solve with your service or product offering? What is the current size and expected growth of your target market? What are the economics of the market? What does it take to win this market? How will these sales happen? Who will your first customers be? What level of profits do you expect?


• Competitive Advantage:
  
Who are your competitors? What special knowledge or technology do you possess and how will you protect it? What are the barriers to entry?


• Teams:
  Who are you and why can you do this? Include a paragraph summary of each team member's background applicable to the proposed venture. If the full team has not been assembled, include a brief description of the background and skills of team members that you desire to recruit. You may submit a maximum of three pages describing your business idea. Keep in mind that the readers appreciate brevity and clarity.

The Investment Proposition Teaser is typically a summary of the Business Plan that is circulated to potential investors to attract their attention. It develops the concept that has been proposed in the shorter Executive Summary, but is not a full business plan that may stretch to 30 pages or more, together with appendices and full financial forecasts. The Teaser will reflect the concept worked up into a full execution plan. In order to complete the Teaser, it is suggested that you prepare the first draft of the Business Plan and consider the business model applicable to the product or business you are proposing including: marketing and sales (agency? own sales force?), delivery of the product or service, production (outsourced? own production?), proof of concept, initial financial projections and financial requirements, human resource requirements. Remember, it is the Teaser that will attract the attention of the investor resulting in the request for sight of a comprehensive Business Plan. So it needs catch the attention of the reader and be well presented.

A video of 5-min Presentation is the supplement of the Investment Proposition Teaser. Representatives of the team can briefly describe the business idea and "sell" to the judge in front of the camera. The presentation content and format is subjected to team decision. The presentation should not be more than 5 minutes. The team should submit the video in DVD format.

Members of the venture community, including successful entrepreneurs, angels and venture capitalists, and other professionals will evaluate and judge the executive summaries and business plans. All decisions of the judging panel are final.

Judges will be asked to evaluate the plans based partially upon the likelihood of the plans to become the basis of an actual viable business, and the potential financial returns the business can provide, and partially on the basis of the oral and written presentation. This consideration will, in turn, include such factors as creativity and innovation embodied in the basic opportunity definition and business concept, a well thought out strategy, technological innovation, reasonable financial analysis, and the team's ability to execute the plan.

The following twenty questions provide some general evaluation criteria that are likely to be used by the judges. Corporate managers, private investors and venture capitalists also use these criteria when evaluating business opportunities.

1. Is the business opportunity as presented both highly attractive and clearly realistic?
2. Is the business defensible from competitors?
3. What is the business model (i.e. how are they going to make money?)
4. What comparisons to past success stories indicate that this venture will succeed?
5. What is the amount of up-front capital investment required?
6. Do the market and financial projections demonstrate that the team understands its business?
7. How long will it take from the current stage of development to bring this product/service to market?
8. Can this venture achieve a leadership position in its market?
9. Has the team gone out to the market already to test its ideas (i.e. met its customers, made first sales)?
10. Who will be the first customers?
11. Is the team of sufficient breadth, balance and quality to make their ideas happen?
12. Will the ego of the founders get in the way of success?
13. Is the team focused on its target market?
14. What is the expected time and amount of pay-off to investors?
15. Is the reader familiar with and interested in the given market space?
16. Is the plan clear and well written?
17. Does the team have the necessary communications skills to present a compelling story?
18. Are the team members dedicated to the venture and their roles in the group?
19. Does the team have a clear plan for spending the investment it receives?
20. Why is this business going to be around and a real world winner in 5 years?

All Hong Kong Business Plan Competition entries must be the original work of the declared entrants. The organizer of the HKBP shall not be held responsible for any intellectual property violation by competition entrants.

Submitted business plans will be evaluated by a number of well-respected judges. While the judges agree to treat submissions as confidential information, due to the nature of their profession they do NOT sign any confidentiality agreements with YDC or any of the competition entrants. All members of the HKBP organizing committee pledge not to disclose or use any of the business plans or sensitive information outside of HKBP.

Organizations sponsoring HKBP and judges for HKBP shall make no claim to any of the property or rights based on their involvement with HKBP. While every effort will be made to preserve the confidentiality of each submission, it is suggested that highly sensitive materials, such as patent-able technical drawings or formulae, be excluded from the entry. The responsibility for the protection of intellectual property ultimately lies upon the competition entrants.