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Business Purpose Statement
Business Purpose Statement
Well defined and forward-looking statement of purpose or belief. Clearly distinguishes the business from others.
The purpose or belief of the business is clearly stated but does not distinguish the business from other competitors.
The purpose or belief needs work.
Value Proposition (what makes your business special?)
Unique and clearly stated. Clearly explains how the business is unique and is different from the competition.
Illustrates a unique business but not clearly stated.
Needs work but demonstrates a good start.
Concise statement portraying the social, environmental, or economic impact this business has on one or all of the local 3 counties. Clearly identifies how the business measures this impact.
Social, environmental, or economic impacts of this business are identified by not strongly associated with the business.
The statement on impact has no connection to social, environmental, or economic impact this business has on any of the counties. Statement is unclear.
Narrative (ideal customers & target markets)
Specific customers identified clearly and have a good understanding of how the business serves its customers.
Missing some key customer segments or too broadly defined target market and customer segments.
Applicants lack a clear customer base or target market for their product or service.
Narrative (business model)
Clear understanding of key expenses and revenue streams. Identified both variable and fixed costs. High likelihood of success as presented.
Missing key revenue streams and/or costs but business still appears to be financial viable as presented.
Low likelihood of covering major costs through revenue streams as presented and/or incomplete responses.
Readiness for funding
Applicant completely possesses the knowledge, skills, and resources necessary to capitalize on funding received.
Applicant has an understanding of the knowledge, skills, and resources necessary to capitalize on funding received, but may need some technical assistance.
Applicant lacks the knowledge, skills, and resources to capitalize on funding received
Applicant has a clear vision that they can communicate for how they will utilize the funding to advance their business plan.
Applicant has a direction in mind, but needs to refine and clarify parts of their business plan to meet goals.
Applicant lacks a clear vision and business plan for growing their business.
Product / service viability
Applicant has a viable product / service that is likely to both make it to market and succeed.
Applicant has a viable product / service that is likely to make it to market with the potential to succeed.
Applicant has a product that is unlikely to be viable, make it to market, or succeed.
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