to my business plan competitors

My somewhat humble advice to @Sam Stowers and all the others out there who are competing in business plan competitions.


  1. Know your agenda. What are you trying to accomplish. Everyone has an agenda. My agenda is changing the format of business plan competitions. The hosts are likely sponsoring something, even if in good faith. Know what you are going there to do. Not just to win. WHY DO YOU WANT TO WIN?
  2. ASSUMING YOU ARE TRYING TO WIN, FOR THE SAKE OF THE PRIZE MONEY... 
  3. Know your judges, in this case traditional VC's and Bankers. Pick the more commercially viable idea (in your case bitcoin). Education is really important, but either just solve that problem on your own or pitch it at an event for social innovation. 
  4. Demonstrate that you understand the customer, problem, solution, and business model. 
  5. Your customer model should be bottoms up not top down. Avoid telling the panel "if we capture just 1% of the market our revenue will be x"
  6. Count the noses. (watch the whole thing but start at 29 minutes first)
  7. Demonstrate that you are making a bet on something other than your ability to build the solution. In this case you are betting on a wide adoption of bitcoin. 
  8. Have fun. 

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