The Big Pitch - College of Business

Who is Eligible to Participate?

• The Competition is open to all post-secondary students at Northern Michigan University, irrespective of their major or program of study, who are enrolled in the 2023-2024 full academic year. Note: Prior award winners of the Big Pitch are not eligible to enter the same business plan or a spin-off of that plan.  Also, the proposed business must be wholly owned by eligible students during the duration of the competition.
• Students can participate as individuals or as part of a team (up to five members).  Cross-disciplinary teams are encouraged.
• Contestants, whether individuals or teams, can have advisors and coaches who can be faculty members, business executives, and even entrepreneurs.  While this is encouraged, it is not required.  However, it is students who must present their original work and participate in the trade fair presentation, in the elevator pitch competition, and in the business plan presentation.
• An individual or team can submit only one entry.  An individual cannot be a member of more than one team.

How to Participate?

• Individual or team contestants must submit an electronic “Intent to Compete Form”, including a Business Proposal.  These are due by 5:00 PM on December 15, 2023.
• Contestants agree to the following stipulations:
  - their proposal represents the original work of the student(s)
  - they will abide by all the guidelines and rules of the competition
  - they are responsible for all copyright, trademark and patent issues
  - should their proposal be accepted for Part Two of the competition, they will
    participate in all the activities associated with the competition      

Nature of the Proposed Ventures

• The competition is for new, independent ventures in the seed and start-up stages (businesses should not be in operation for more than 24 months as of the initial submission date seen above.)  Proposals for buy-outs, expansions of existing companies, real estate syndications, tax shelters, franchises, licensing agreements for distribution in a different geographical area and spin-offs from existing corporations are excluded.
• Proposals to license technologies from universities or research labs are encouraged assuming they have not been commercialized previously.
• Proposed ventures must be projected to be financially profitable, be lawful and create jobs.
• Contestants must acknowledge that their proposed businesses are original and that the business plan is their own work.

Business Proposal

A Business Proposal is usually developed prior to creating a Business Plan.  This proposal is the first step in determining the viability of a business concept and is the precursor to all the work involved in developing a complete business plan.  It is a brief document that describes the proposed business and contains enough information to enable stakeholders to make an initial evaluation about the viability and attractiveness of the proposed business. A well-written Business Proposal is usually a combination of business analysis and a marketing pitch.

For The Big Pitch, a Business Proposal for the proposed business venture must accompany the completed Intent to Compete form and is due by 5:00 p.m. on December 15, 2023.

Please follow these rules for preparing the Business Proposal –

• The summary must not exceed 1,000 words.
• The summary must provide the following information:
  - Tentative name of the proposed business
  - Nature of the business (e.g., retailing, manufacturing, e-commerce,
    entertainment, etc.)
  - Description of the product or service that the proposed venture will make or
    provide
  - The need for the product or service, including availability of substitute products
    (Why will customers buy this product or service?)
  - Identification of the potential target market
  - Marketing strategy (How will the company reach its target market and how does
    it have a competitive advantage?)
  - Existing or potential competitors
  - Supply, distribution, and production strategies
  - Organization and Personnel (Who are the individuals who will initially manage the
    enterprise and handle key functions?)
  - Background, experience, and skills of the contestant(s) in relation to the
    proposed business
• The Three Year Timeline must not exceed 500 words.

Remember this is a competition. Your Business Proposal needs to differentiate your business from other competitors.  The clarity and descriptiveness of your proposal will make a difference and enhance your chances of becoming a finalist.  In the business world you would need to do the same thing to inspire stakeholders to support your new venture.

The following statement must be included at the end of the Business Proposal:

The contestant(s) acknowledge that the ideas and concepts of this proposed business, as presented in this Business Proposal, are the original work of the contestants. All contestants agree to comply with the rules and guidelines of the Big Pitch.  Contestants are responsible for all copyright, trademark, and patent issues. If this submission is selected as a finalist in the Competition, the contestant(s) commit to developing and submitting a full-fledged written Business Plan to bizdean@nmu.edu by 5:00 p.m. on February 17, 2024, and to participate in all the activities before a panel of judges on February 23, 2024.

Feedback on Submissions

All contestants will be notified by November 19, 2021, as to whether or not their proposal has been selected as a finalist for the Competition.

Business Plan Overview

• Contestants whose submissions have been selected as finalists for the Competition must submit an electronic written Business Plan for the proposed venture by 5:00 p.m. on Friday, March 1, 2022, to bizdean@nmu.edu.
• The Business Plan expands and elaborates on what was presented in the Business Proposal.
• A small stipend is available to the individual or team to defray costs of preparing the Business Plan. See Expense Policy for more details.

Guidelines for Writing the Business Plan

• Plans must be in writing and is limited to 20 pages of text (typed double-spaced, 12 point font, 1” margins on all sides, and paginated) and a maximum of 10 pages for appendices.
• The Business Plan must include the following:
  • Executive Summary: provides a concise and compelling overview of the proposed business.
  • Industry Analysis: provides an overview of the industry in which the business will operate. The analysis should illustrate knowledge of trends within the industry and explains how the business will take advantage of projected trends.  It will also focus on the target market (the proposed customer base) and provide information on number of potential customers, with information including, but not limited to, income and spending habits. Industry analysis will also identify potential competitors, explaining the differentiating factors that give the proposed business a sustainable competitive advantage and how the business will compete in the market.
  • Marketing Plan: describes the strategies that will be used to reach the target market about the venture’s products and services and details sales and promotion tactics.
  • Operations: describes how the venture will be managed and how the goods/services will be produced.  It also discusses how the business will grow and how it will cope with the demands of expansion.  The technologies needed for running the proposed business should be identified and a plan presented for acquiring the necessary equipment. Operations also provide details on the ownership and management structure.
  • Financial Plan: provides a multi-year financial outlook based upon assumptions made throughout the Business Plan and includes pro forma financial documents including startup costs, cash flow, balance sheet, operating costs, and a breakeven analysis.
  • Submitted plans are not limited to including only the items described above, and there is no required order for discussing these items. For additional information see the Business Proposal guidelines.
• Contestants can consult any sources they deem appropriate, including the following websites on how to prepare a business plan:
  • U.S. Small Business Administration's  Write a Business Plan
  • State of Michigan's Why Should You Create a Written Business Plan?
• The written Business Plan must be submitted electronically at bizdean@nmu.edu
• Contestants are encouraged to consult with and utilize coaches, such as faculty members, business persons, entrepreneurs, friends, parents or other mentors.

What Happens After Business Plans Are Submitted

• Written Business Plans are forwarded to a panel of judges for review prior to competition day.  These judges are drawn from the business community.
• Competition day will be Thursday, March 16, 2022.

Individuals and teams proposing new ventures can have advisors and coaches, who may be faculty members, business executives, or entrepreneurs.  While this is encouraged, it is not required.  However, it is the students who must present their own original ideas and participate in the various activities connected with the Competition.

• Each team or individual contestant whose proposal has been selected as a finalist for the competition will be reimbursed for up to $200 to defray expenses incurred in the course of preparing the Business Plan.
• All expenses must be incurred by the date of the final competition, March 16, 2023.
• Approved expenses include the following: developing prototypes or models, informational brochures, phone calls, software tools to build a Web site, travel required for research, and legal and accounting services.  Meals, hotel stays, entertainment, computer hardware or electronic items for team members are not eligible for reimbursement.
• A single request for reimbursement for each team can be made and a check will be issued to the team leader.  Requests for reimbursement must be made to the College of Business within one week of the completion of the competition and must be accompanied by receipts and an itemization of expenses.  In some cases, the College of Business may pay for some of the expenses to save students from incurring out-of-pocket expenses.  These payments will be applied towards the $200 allotted to each team or individual contestant.  Requests for the College paying for expenses must be made in writing.
• Submit reimbursement requests and supporting documentation to Office of the Dean, College of Business, 304 Cohodas Hall, Northern Michigan University, Marquette, MI 49855.

• Each individual and team contestant will be provided with a six-foot table in the Founders Room to display prototypes, artifacts and information materials and flyers relating to the product/service the contestants are proposing in their new ventures.
• Members of the team or the individual (in case of individual contestant) must be present at their designated tables to describe their displays and answer questions.  All contestants should be versed in the venture to be able to explain it succinctly.
• The Trade Fair is a public event.
• Individual tables will be judged for a prize for the Best Trade Fair display.  Thus, the products or services should be presented in a professional, attractive and informative way.

• All contestants must be present at the presentation.
• A maximum of 10 minutes for presentation and 10 minutes to answer questions from the judges will be available to each team or individual contestant.
• The presentations are open to all, including other competitors, students, faculty, staff and visitors to campus.
• There are three prizes – first, second, and third.  The prizes are awarded considering both the written and oral components of the Business Plan.

Competition Judges

A panel of judges will evaluate and select the winners of The Big Pitch on Thursday, April 21, 2022. These judges are drawn from the business world. The decisions of the judges are final.     

Criteria for Judging

The Trade Fair presentation will be evaluated on the following criteria:

• The professionalism of the presentation and the contestants present
• The creativity and the information value of the materials
• The extent to which the materials convey what the product or service is
• Information provided at the Fair is consistent with the Business Plan

The Written Business Plan will be evaluated on the following criteria:

• Necessary components – does the business plan contain all of the necessary sections?
• Well written – the business plan must be written in a clear, concise, and logical manner; additionally, it should adhere to the principles of good writing
• Viability – the venture must be implementable, realistic, and viable
• Innovation and Creativity – should be discernible in the venture and the business plan

The written portion of the business plan will comprise 60% of the weight.

The Five Minute Presentation will be evaluated on the following criteria:

• Clear explanation of the product or service.
• Conciseness
• Logic
• Conveying of a sense of energy and enthusiasm
• Professionalism
• Features and benefits of goods or services that the venture proposes
• Response to judge questions.

Viability of Venture Criteria:

• Market opportunity—there is a clear market present and method for taking advantage of it
• Competitive advantage—the business has a unique, novel, or distinct approach, which gives it an advantage
• Management capability—the contestants are able to effectively develop the venture and handle the tasks necessary for its success
• Financial understanding—the contestants have a good understanding of the financial requirements of the venture
• Innovation—the contestants have developed an innovative solution to an existing or emerging problem

Other Notes:

• The decisions of the judges are final.
• All federal, state and local taxes, if any, are the sole responsibility of the winners.  All federal, state and local laws and regulations apply.
• By entering in the competition, the contestants give permission to Northern Michigan University to use the names of the winners and their project for publicity and/or trade purposes without further compensation unless prohibited by law. Contestants grant permission to the University to record and publicize their oral and written presentations, in whole or in part.  All submitted materials become the property of the University and will not be returned to the contestants.
• Northern Michigan University, judges, and sponsors shall make no claim to any property or rights retained by the contestants.
• Contestants and any business entities associated with them release and discharge Northern Michigan University, the judges, and prize sponsors, from any and all liability associated with participating in The Big Pitch and with the start-up and operation of any businesses described in the business plans. 
• Contestants should not present any information to the judges, orally or in writing, which they deem to be confidential, proprietary, or commercially sensitive. Information presented will not be kept secret.  The presentation of the business plan, the elevator pitch competition, and the trade fair are all public events.
• Competition contestants may be invited by the University to allow implementation of the business plan in a business incubator at the University.

• Cash prizes will be awarded to the best business plans based on viability and presentation.
• Cash prize for first place winner in the best trade fair presentation.
• TWO $500 cash prizes awarded in Mini Pitch presentation.
• Cash prize for the first place winner in a "Crowd Favorite" vote

Business Plan Prizes 2021-2022

First Place

• Cash Prize.
• Consultation for Technology, Hardware, Web Development and Software.
• Financial consultation and training provided by Tailored CPAs, P.C.
• Legal Consultation Services for Business Provided by Kendricks, Bordeau, Keefe, Seavoy & Larsen, P.C.
• Consultation regarding proposed business strategy and development.

Second Place

• Cash Prize.                     
• Consultation for Technology, Hardware, Web Development and Software.
• QuickBooks Software provided by QuickTrophy, LLC.
• Consultation regarding proposed business strategy and development.
• QuickBooks Training.

Third Place

• Cash Prize.
• Consultation regarding proposed business strategy and development.
• QuickBooks Training.

The Big Pitch is being generously supported in part through an endowment created by Mr. Ervin Kranberg, a co-founder and president of Professional Liability Brokers & Consultants, Inc. (PLBC), a wholesale broker in the professional liability insurance industry.  The firm’s home office is in Vernon Hills, Illinois, with a branch office in Phoenix, Arizona.

Best Business Plan First Place Winner, Best Trade Show, Crowd Favorite - You'd Never Know - Grace DeNoya

Big Pitch Winner - Wasteless - Donald McKaba

Business Plan First Place Winner, Big Pitch Winner - Niim - Bazile Panek

Crowd Favorite - Burger Boat - Jimmy Flom

Business Plan First Place Winner, Crowd Favorite Winner, Big Pitch Winner - Cannoptics - Michael Cole

Second Place Winner - OccuDec - Max Steele & Jonathan Damon

Business Plan First Place Winner, Crowd Favorite Winner, Big Pitch Winner - Glen Arbor Wines - Keefer Edwards

Second Place Winner - Lifestyle Gymnastics Center - Kidron Stromwall 

Third Place Winner - Lead Carpet Firearms and Safety - Sierra Utych

Trade Fair Display Winner  - UP Lure Co. - Jacob Patterson

Business Plan First Place and Trade Fair Presentation Winner - Portage Paddle Sports - Brendan Jacques



Business Plan Second Place and Big Pitch Winner - Modern Marketing - Keef Edwards



Business Plan Third Place, Trade Fair Presentation Winner, and Crowd Favorite - Marq Etiquette Board Shop - Nic Beaudrault

Business Plan First Place - Ben's Boards - Ben Phillips

Business Plan Second Place - Keef Company - Keefer Edwards

Business Plan Third Place - Yooperade - Gisele Duehring

Business Plan First Place - Upscale Energy Solutions - Logan Stauber

Business Plan Second Place - Go Energy Breath Spray - Rheta and Marshall Mering

Business Plan Third Place - The 906 Collective - Brett Etengoff

Business Plan (First Place $7,750 total cash and prize value) - Hobby Car Malaysia - Wenfei Kou, Yufeng Zhuo, and Wilson Goh 

Business Plan (Second Place $4,000 total cash and prize value) - Superior Shores Bike Park - Justina Liss

Business Plan (Third Place $2,200 total cash and prize value) - Cardboard World  - Micah Argeropoulos, Ethan Hausmann

Business Plan (First Place $7,750 total cash and prize value) - SnapTanx - Jacob Yoho

Business Plan (Second Place $4,000 total cash and prize value) - Torched Vines & Wines and Torched Spirits - Nicholas Lefebre

Business Plan (Third Place $2,200 total cash and prize value) - U.P. Coding - Corey Engelhart

Business Plan (First Place $4,000), 60-second elevator pitch ($500), and Trade Fair ($500) - The Protein Palace - Tony Plemmons

Business Plan (Second Place $2,500) - Warm Fuzzies for NECO - Lauren Lund

Business Plan (Third Place $1,500) - Fossil Woodworks Co.- Sage Henning

Business Plan (First Prize, $4,000), 60-second elevator pitch ($500), and Trade Fair ($500) - Indoor Organics - Laura Sironen

Business plan (Second Place, $2,500) - Marquette Roofing Tiles, LLC - Steve Farr, Martin Banerud, Jordan Wilson, and Aron Jurmu

Business Plan (Third place, $1,500) - CC's Soup - Bill Dufour

Business Plan (First Place, $4,000), Sixty Second Elevator Pitch ($500), and Trade Fair ($500) - Prometheus Tree - Rob Johnson and Josh Morrison.  Click photo to view their business plan oral presentation in video format.

Business Plan (Second Place, $2,500) - Intertwined - Sondra Troup and Skye Davis.  Click photo to view their business plan oral presentation in video format.

Business Plan (Third Place, $1,500) - Protectski - Martin Stuge and Ingrid Fjeldheim.  Click photo to view their business plan oral presentation in video format.

Business Plan (First Prize, $4,000), and Sixty Second Elevator Pitch ($500) – Great Lakes Cremation Services – Chad Walker and Steve Farr. Click photo to view their business plan oral presentation in video format.

Business Plan (Second Prize, $2,500) – Pulsar Backup – Joshua Petrovich. Click photo to view his business plan oral presentation in video format.

Business Plan (Third Prize, $1,500), and Trade Fair Display Presentation ($500) - Squeezed – Jessica Beaver and Kris Kohtala, Click photo to view their business plan oral presentation in video format.
 

Business Plan (First Prize, $4,000), Trade Fair Display Presentation ($500) and Sixty Second Elevator Pitch ($500) - M@M - Alysa Diebolt. 

Business Plan (Second Prize, $2,500) - Hand Struck - Christina Brazinski.

Business Plan (Third Prize, $1,500) - Cool Cakes - Brittney Alden. 

Business Plan (First Prize, $4,000) and Trade Fair Display Presentation ($500) - Presque Longboards - Bryan Johnson, Darren Young, Brian Emigh (team leader) and Ricky Golden

Business Plan (Second Prize, $2,500) - Extreme Boat Works - Chad Lewis

Business Plan (Third Prize, $1,500) - Project One Design Group - Thomas
Gallaher (team leader), Richard Diebold, and Crystal Zrelak

Sixty Second Elevator Pitch ($500)- Northern Eco System  -- Rebecca Miller