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A brilliant business idea can wait almost everywhere. In the University laboratory. In the garage. In the workplace. Or even at a party. Matti Niebelschütz hearing was light, when friends were indignant over to a birthday party smell-alikes. The creation of a show running Myparfuem.com went ahead with a business plan competition.

COLOGNE. “Take on a woman who uses the same perfume his friends were similarly unpleasant as in the same dress to appear at a party,” recalls Niebelschütz. The business idea was born Myparfuem.com: An online shop where everyone can assemble their own personal, individual fragrance.

Together with his brother and a friend Yannis, the 23-year-old law student got to work: To test the realism of their idea really was, they sent a first draft in early 2008 at the Business Plan Competition Berlin-Brandenburg in the race. “Among the top ten then it has not yet passed on the first try, but unfortunately due to the feedback of the jury, we recognized the weaknesses in our business plan -. And they turned out even before the founding.”

How the young start-up team to Niebelschütz use one of the founders of thousands each year about 80 business plan competitions in Germany to kick-start their own business. The young leaders should submit their business plan and try their chances in competition with other young entrepreneurs. The winners will receive cash prizes. Or mentors to help in the establishment phase.

In particular, who previously only had a business idea that will benefit from intensive care: Almost every business plan competition offers workshops and coaching from specialist consultants. With this concentrated support then party ideas mature into practicable business plans.

The three young entrepreneurs were Myparfuem.com after participating in the competition more than ever convinced of their idea: In August 2008 she went with Myparfuem.com online – and they applied simultaneously just for a second time at the Berlin Business Plan Competition. “Now, again correctly, we thought. We have put everything we had got with the first participation in feedback.” With success: 2009 MyParfuem won the competition.

As the Berlin competition targeted the most business plan competitions regionally. For start looking for the right event is therefore worthwhile to look at the website of the Economic Development Institute site. “The regional competitions help young entrepreneurs, especially in building a network at their site,” said Gabriele Gruber. The lawyer advises the Berlin Technology Coaching Center (TCC) founders in the technology and creative industries in implementing their business ideas. An important component of TCC-promotion is the participation in the Berlin Business Plan Competition, said Gruber, “The founders are not only given valuable feedback on their business plan, but may also be important contacts with investors, consultants and experienced entrepreneurs build on site. ” Business plan competitions are playgrounds for various start helper.

In addition to the regional competitions have increasingly industry-specific business plan competitions established, which will be held nationwide. This is where the would-be entrepreneurs the assistance of experts and financiers from its segment. Above all, the founder of a scientific background venture here with the help of renowned industry experts, the step from university into the entrepreneurial world.

Even Joerg Traub and Thomas Wendler fully implemented in their business start on business plan competitions. The two scientists have developed at the Technical University of Munich, a method for displaying three-dimensional images during surgery. The first test run for their business idea was an international business plan competition at UC Berkeley. “We were immediately took first place,” says Traub. “It was clear that outsiders believe in success.” The decision was made: in Munich, your company should occur under the name SurgicEye. “- And venture capital investors who finance our business idea would be What we needed, entrepreneurial and legal know-how were.”

The young entrepreneurs put their time and energy, therefore, in addition to the business in two business plan competitions: the regionally focused Munich Business Plan Competition (MBPW) and specialized in their industry nationwide competition Science4Life. “For us, the competitions such as additional training in business management,” says Traub. When he got Science4Life and his partner tuition in medical requirements and certification issues. In addition, investors were aware of the company. And got to know about the Munich Competition and Traub Wendler their current advisors and business partners. “This network has helped us in the foundation stage is already enormous,” says Traub. “The input from both competitions has perfectly.”

The Munich founder managed this time but only the second and fourth. Taken as they see themselves but nevertheless: “The winner is ultimately not the one who carries the first place and the prize money home,” says Traub. “But the one who takes the most input. And then be able to implement his idea can be truly successful.”

Checklist

A professionally structured business plan is the be all and for the foundation. The following points are strictly inside:

Idea: Brainstorm ideas

The business plan starts with the business idea. Founders explain their concept and describe how they intend to implement it.

Product: showdown

The next step founders describe how their product works, what it cost – and how it contrasts with existing services. These include the technical development and information about patents and licenses.

Founder: Team spirit

From the training of previous business successes to the financial and health situation, entrepreneurs need to represent to-be their personal qualifications.

Market: Touting

This shows founders that they know their industry and their market. On the basis of studies, references and market analysis of the industry associations to describe buying behavior, disposable income and preferences of their future customers.

Competition: an enemy

Founders need to know their competitors, who are the competitors, what they offer at what prices, where the competition is better or worse?

Finance: sources of money

In an investment plan cover all important purchases, founder of the coming years. In the liquidity and profitability calculation they listen to future revenues, expenses and revenues. They also clarify what investors are looking for.

Appendix: burden of proof

In the appendix show copies of patents, product sketches, references, studies and advice, the plans of the founder.

Presentation: Summary

A summary of the most important aspects and a well-developed presentation help convince future partners.

A sound and convincing business plan is an entrepreneur’s important first step in starting up a profitable business. It’s also a prerequisite for getting financing and attracting investors. A sound business plan describes the business operations and goals, analyzes and forecasts markets and sales, sets up operating and marketing plans and schedules, and estimates operating expenses. This book shows how to organize and write a logical, business-savvy, and professionally polished business plan that can be presented to potential investors and financial institutions.It should include operational plans, financial plans and a marketing plans at minimum.