2024 Young Entrepreneur Award
For applicants 30 years of age and under (in 2024)
STEP 1.
Create a Word or PDF document which addresses the following judging criteria.
We recommend at least 100-200 words for each of the 8 criteria areas:
STEP 2.
Then, submit your application, attaching the document you create, to the online nomination form.
https://form.jotform.com/MelbBusNetwork/2024-mbn-awards-nomination
JUDGING CRITERIA
1. Company Overview:
Briefly describe your organisation and the product or service you offer. Background and a succinct overview of the product or service offering.
2. Unique Selling Proposition / Competitive advantage:
What is unique about your offering? What makes people purchase / use your organisation’s product or service over another?
3. Target Market:
Who are your customers and where do they come from?
Outline any characteristic that distinguishes your target market from others, eg. where they live or work, age-group, business sector, buying behaviour etc. You may include figures or market research to demonstrate.
4. Distribution Channels:
How do you sell or distribute your organisation’s product or service? This could be one or a combination of: direct via shop front or office, via third party re-sellers, online, etc. Any analysis you can provide around this will help.
5. Growth Projection:
What are your growth projections for the next 1 – 3 years? Please explain the basis on which these assumptions are made. These may include current & projected annual turnover, market share, staff numbers, increased / differentiated offering.
6. Promotional Strategy:
How do you promote your organisation’s product or service? How do your customers know about your product offering?
7. Your Business Story:
Understanding that pro-forma questions don’t always give you the opportunity to represent your business and its unique offering in the way you’d always like, please take this opportunity to provide us with more information. How did COVID change your business strategy? The business story could be a ‘case study; story from a client / partner / supplier; vignette of your experiences / journey; or an example of how or where your business has made a difference to someone, somehow, somewhere. (500 words)
8. Specific Young Entrepreneur Award Criteria:
Share your story of how you have founded or grown your business through effective leadership, innovation, customer acquisition, external investment, entering new markets and/or new product and service offerings. Please include business metrics and milestones such as revenue, profit, percentage growth, etc. to assist in demonstrating your success. (300 – 500 words)
Complete your application by attaching this document to the nomination form: