What is the toughest part of starting a business?
It is to kick start the business through raising funds, learning the ropes and finding customers!
Kicking start a business is going to be challenging as it takes commitment, hard work and determination. It will be great if you know who can guide you and what to do to keep it going.
Therefore, entering a business competition can be an amazing encounter for people who have a business idea! It is an enriching way to build up your ideas, strengthen it while improvise to suit the needs of the market. It will be awesome if you win the competition as winning come with many perks. Even if you did not win, you will not leave the competition empty-handed too!
Are you looking for a business competition with a social cause? Creathon 2020 is just for you!
Find out the 6 reasons why you should participate in Creathon 2020 as you continue to read on.
#1: Opportunity to implement a business idea
You have always been aspiring to be an entrepreneur with a great business idea which could potentially benefit society. However, many might laugh at your business idea, thinking that it was too big to achieve. Frustrated that no one can really understand the passion in you, what should you do?
Here is your chance!
This is the time where you can turn your business idea into reality! Joining Creathon 2020 allows like-minded people, various stakeholders and entrepreneurs to come together in this environment that was set up to make your dream come true!
#2: Networking and mentoring
Who can you find in a business competition?
Sociopreneurs and Entrepreneurs
Yes, in such a setting, there are many enterprising individuals just like you. It doesn’t matter if they are young (School Category) or matured (Open Category), everyone has something in common. They start with a business idea!
Some went ahead to build it from scratch where they have accumulated plenty of mistakes, knowledge, success and skillset throughout their businesses. Every interaction is a chance to exchange perspectives and information from each other. So, keep in mind to be friendly, say hi, shake hands, ask questions, answer queries and take note. You never know that the eureka moment comes when you are just having a simple conversation with unfamiliar people.
#3: Learn how to write a business plan
Now, you have a business idea and a social cause you are championing for.
What are you waiting for?
it is the time to put your business idea on paper as you organise your thoughts and brainstorm of the potential of it. This helps you to narrow down a plan of action and figure out who you exactly want to market your products or services to.
With the mentors around as you share your business idea, their feedback might be one that helps you to take the flight of your business idea. Exposing yourself to new perspectives also will ignite the flame in you to push your vision through to the next height. Even if you are not familiar with how to structure a business plan out, here is an excellent platform for you to pick up this simple which school might not teach you at such a young age.
#4: Learn how to pitch your business idea
Elevator pitch is a succinct and persuasive sales pitch where you can share the overview of your business. It should not take more than 3 minutes if you want to present your pitch comfortably. It is a simple yet powerful tool for an entrepreneur. As you attend Creathon, you have endless opportunities to tell others about your business. The more you share, the more you hone the pitch for your company and its unique selling point. You must be very careful as this elevator pitch can make or break! If you did it without success, a potential investor might be totally losing the interest to give their personal contact for you to discuss further.
Make a unique, brief and unforgettable pitch! There is a saying, “Practice makes perfect.” Hence, be sure to practice your business pitch beforehand! Find your friends and colleagues to test out your pitch. Ask them to give as brutal and frank for your improvement. Watch their reaction and bear in mind of their suggestion. After all, iron sharpens iron, your beloved ones will not lie to you but will commit to your success.
#5: 1st in SEA
This is the first Co-operative Business Challenge based in South-East Asia!
Fun fact: Singapore is the world’s easiest place to do business!
The strong trade and investment make Singapore the most competitive Asian country whom local and foreigners will find it an ideal location for the formation of business. Think about ! With such a good reputation for setting up business, wouldn’t you be confident that Singapore National Co-operative Federation (SNCF) will be able to guide you through the set up of a co-operative in Singapore with the strong aide from Registrar of Co-operatives (Ministry of Culture Community and Youth)?
#6: Attractive prizes
Beyond the bragging rights, winning comes in various form too. Below are the prizes for the two different categories! For the 1st prize in the Open category, other than walking away with $4,000, there is a seed funding (up to $14,000) with SNCF’s mentoring to ensure the formation of co-operative.
(Youth aged 17 – 35 as of 2020)
|1st Prize: $500
2nd Prize: $300
3rd Prize: $150
|1st Prize: $4,000
2nd Prize: $2,000
3rd Prize: $1,000
Here you go, 6 reasons why you should participate in Creathon 2020 where you combined social cause and business to impact the society!
Hesitate no more! Come and join Creathon 2020!