2018 LGBT. Business Award. application guide
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1 2018 LGBT Business Award application guide
2 table of contents Why apply? 3 Award Qualifications 3 Helpful Hints 4 How to Apply 4 The Mini Plan 5 Executive Summary 5 Business Overview 5 Market Analysis 6 Financial Summary 6 Implementation 6 Summary/Impact Statement 7 Wrap Up 7
3 INDEPENDENCE BUSINESS ALLIANCE LGBT Business Award Guide P. 3 why apply? The numbers: This is a members-only award, which means you ve got a great chance at winning! If you re going to take the time to apply for one award this year - it should be this one. A part of the IBA story: Your company s story will be woven into the IBA narrative for years to come. Promotional/Marketing Opportunities: The PNC award has been the most covered story in IBA history! The press promotion can be just as valuable to your business as the award monies. Future Marketing This award is an honor that can be touted for long after it is presented to you this May. Growth A $10,000 infusion of cash into your business can allow for truly unprecedented growth. Take the leap! award qualifications IBA Member Business as of April 2018 Registered Business headquartered within IBA s 11 county area In business as of 1/1/17 A privately held company, in compliance with all applicable laws and regulation A legal resident of the United States At least 18 years of age Available to accept award at IBA Business Leaders Luncheon, date TBA in May 2018
4 INDEPENDENCE BUSINESS ALLIANCE LGBT Business Award Guide P. 4 helpful hints Don t overthink Follow the instructions carefully (especially what not to do!) Take a step back & think about your business Focus on growth and innovation Have a specific plan for the use of the $10,000 Be efficient deadline is April 16th! how to apply Complete the application Prepare Mini Plan Use outline for organization Answer all questions Provide requested information 2 letters of recommendation Sign/Date the application! Submit by Monday 4/16 at 5PM (Electronically in a single PDF to Zach@thinkiba.com) Download the application at thinkiba.com
5 INDEPENDENCE BUSINESS ALLIANCE LGBT Business Award Guide P. 5 the mini plan 1. Executive Summary 2. Business Overview 3. Market Analysis 4. Financial Summary 5. Implementation 6. Summary/Impact Statement *Note: 6 page maximum limit executive summary Overview of Mini Plan Weave the story together Show commitment Be convincing Think forward/focus on your business growth Remember the purpose specific use of the $10,000 award business overview Tell the business story History lesson (when and how it started) Background of owner/leadership Show passion/commitment Discuss mission/vision What is the business purpose? Describe what business does Products or services Discuss value proposition Why should customer buy product or use service? Describe major business achievements Include awards/acknowledgements What has the business done with/for the LGBT community?
6 INDEPENDENCE BUSINESS ALLIANCE LGBT Business Award Guide P. 6 market analysis Describe current market conditions for your business Customer base who are the existing customers? What is the existing market? What makes the business unique/different? Why are you successful? What challenges/vulnerabilities exist? Be honest Describe future growth business opportunities Focus on area where award is needed Who are the potential customers? How will it help the business expand? What are the challenges of this growth? financial summary Describe your current financial position (in general terms) Discuss revenue (year-to-year percentage growth) and explain variations Discuss current cost structure/expenses and explain variations Discuss profitability This is a SUMMARY - Specifics and financial statements/tax returns NOT necessary Discuss 2-year financial forecast, taking into account the growth opportunity (how it will effect your current financial position revenue/expense/profitability) implementation Outline the details of your growth plan Show how the funds will be used to facilitate growth Focus on innovation and sustainability (if applicable) What is the proposed timeline? What are the desired results of the growth plan? Be Specific show a well thought-out plan to use the $10,000! NOT just for general benefit of business Walk the reader through the process Tell a story * Winner will be subject to check-in at 6 months and 1 year from IBA/PNC to check on progress of Mini Plan
7 INDEPENDENCE BUSINESS ALLIANCE LGBT Business Award Guide P. 7 summary/impact statement Convince the Selection Committee why they should pick your business for the $10,000 award Wrap-up the story Summarize what the impact of winning would mean to your business What would be the impact of winning on the LGBT community? wrap up Still have questions? Don t hesitate to reach out. Contact us at or IBA@thinkIBA.com. Good luck! thanks to for supporting LGBT business Industrious Workspace 230 S. Broad St., Fl. 17 Philadelphia, PA Office: (215) thinkiba.com iba@thinkiba.com
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